How To Choose Your Promotion

Below is a list of scenarios outlining when to use certain promotions, have a read before ordering the posters you are wanting to run for each campaign:

I need to increase my patient numbers

New Customer Generation Promotions

If the book has space then this should be your first priority. It goes without saying that getting people through the door is going to increase your sales and therefore profit.

Which promotions will work for in this instance?

    • Free Eye Exam
      • This is the easiest option
      • We all know that the eye exam is the most important part of the process, but it is not the most profitable!
      • Offer a free eye exam up front and then generate your margin dollars on the sale of glasses and/or contact lenses
    • Family Members at Half Price
      • This is useful to generate more patient numbers but is best utilised when you do already have a relatively full book as you need a critical mass of patients already to make this work
      • It also requires strong communication within the practice to work. Without the customers being made away of this promotion, they will not know to take it up.
      • Best for parents thinking of their children or vice versa.

I need to generate more consistent revenue across the year

Monthly Revenue Balancer Promotions

Every business has peaks and troughs in its revenue. The important element to focus on is increasing the ‘floor’ each month so you are less dependent on the ‘ceilings’ needing to be too high.

Which promotions will work for in this instance?

    • Contact Lens Promotions
      • Contact lenses have the potential to be the bread-and-butter of every practice. The margin dollars generated from contact lenses on an annual basis are significantly higher than what you will make from a single sale of a pair of glasses.
      • If contact lenses are not a core strategic focus of the practice then they should be! 
    • Seasonal Promotions
      • Leveraging season promotions is an easy way to ensure you are constantly meeting the needs of your customers. 
      • Sunglasses and photochromic lens offers are easy ones, but get creative and jump on the back of holidays and events!

I want to diversify my product portfolio

Product Diversification

The more product categories a business has the wider and more evenly they spread the risk across their business. In our context, if we focus on just eye exams and spectacles we are limiting ourselves. Adding in second pairs of sunglasses, sports glasses, occupationals, contact lenses etc then we can minimise the risk to our business as long term the repeat business of all these components create long term revenue.

Which promotions will work in this instance:

    • Discounts of second pairs of speciality glasses
      • Immediately we see an increase in our margin dollars from the sale to that customer
      • Long term though we are also providing a wide range of products the customer becomes accustomed to using and therefore their on-going/long-term need has also changed which can benefit both them and your bottom line
    • Contact Lens Promotions
      • Contact lenses have the potential to be the bread-and-butter of every practice. The margin dollars generated from contact lenses on an annual basis are significantly higher than what you will make from a single sale of a pair of glasses.
      • If contact lenses are not a core strategic focus of the practice then they should be! 

I want my patients to feel valued

Buy More, Save More & Value-Add Promotions

Adding value not only is good for your bottom line but it is even more important in how valued your customers feel! You do not need to feel like you’re ‘selling’ to them as you are genuinely helping create the best solution for them! Everyone wins.

  • Which promotions will work in this instance:

    • Buy More, Save More (eg. 50% off second pair)
      • The customer feels like you are really helping them by discounting the second pair of glasses giving them more flexibility for the eyeware to work around their lifestyle.
      • All the while you again increase your margin dollars and thus bottom line. If your customer walks out the door with one pair of glasses that is great. It goes without saying that two pairs are better even at a discounted rate because you end up with more dollars in your pocket!
    • Value-Add Promotions
      • Free polarised or photochromic lens upgrades are a nice way of making your customer feel valued. 
      • Not as much added revenue neccessarily, but given these sorts of lenses tend to be on specialty glasses it could promote those to add a second pair without a big discount. 
      • You can also consider free upgrade to a better quality standard lens also which is just good customer service, but say you will add that in if they run with the second pair of course!
    •  

Questions to watch out for…

Below is a list of thoughts and ideas which can be dangerous and while we do have promotions available to you which can cater to them I would recommend steering clear where possible: