Local Marketing Strategy for Independent Hearing Aid Clinics

CASE STUDY THURSDAY: MARKETING STRATEGY FOR A REGIONAL INDEPENDENT HEARING AID COMPANY

Here’s a Strategy to Create Both Ongoing Web Traffic and Foot Traffic Using a Novel EDDM[tm]/Direct Mail Strategy Uniquely Designed for Independent Hearing Aid Businesses

Profit margins for hearing aids are robust due to traditionally longstanding and high price points for hearing aid products[1], consistent demand from an aging population, and the recurring revenue from services, battery supplies, and device maintenance. Additionally, the time commitment and educational cost to become a PhD audiologist [2], compared to other professions, is often considered more entry-level friendly than the cost of entry for other specialty medical professions. Not surprisingly, according to the U.S. Bureau of Labor Statistics, it’s a profession on the rise [3] with a forecast annual industry growth of 11% between 2025 and 2032[4].

Such an opportunity means that there’s competition, especially from national providers such as there are many national players such as HearUSA, Costco, and Miracle-Ear. Such firms have enormous marketing budgets and can muscle out smaller, independent hearing aid firms via marketing teams dedicated to multi-media advertising. So, as an independent audiologist who is just trying to “own your backyard”, how do you compete? We have a solution.

Cornerstone has created a budget-friendly and rolling EDDM[tm] strategy that generates consistent marketing awareness for smaller hearing-aid firms. Using the wonderful team at Lawrence Hearing as an example, here’s how we do it:

FIRST: A Cornerstone Services, Inc. (www.crst.net) Customer Service team member, trained in statistical research, reviews the demographic details of the population around a firm or small network of firms. Based upon statistical findings, we create a spreadsheet of recommended and targeted areas to mail and suggest releasing 500ct to 2000ct residential-only saturation cards a month, for 12 – 18 months.

SECOND: We design an unusual USPS[r] EDDM[tm] card that will stand out and capture the recipient’s attention. It’s important that for an independent agency, there is a one-on-one trust level with high receptivity; therefore, we almost always insist on having staff members’ pictures (looking trustworthy and smiling!) on the card and include phone/location/web/email contact details on both sides of the card! This needs to be a unique design and cannot be generic — it must reflect the “local color” of the hearing aid office and preferably include testimonials.

THIRD: Release, measure, and repeat. Here, we’re checking in with the client as well as encouraging them to review Google Analytics and SEMRush statistics regularly to see what’s working. If the CRST Web Team (www.crstweb.com) is handling the SEO (which we only do, however, for websites we build), then we forward web traffic reports or other performance matrices to evidence traction (aside from reported calls/walk-ins from the client side).

Cornerstone Services, Inc. (www.crst.net) is a leading provider of printing, data, design, and direct mail services for small businesses. If you are looking for a one-stop shop provider to get such work done on time, under budget, and uneventfully, then we can help. Just reach us at info@crst.net or (845) 255-5722. You’re not alone — help is available. Just drop us a line.

[1] The cost for a single hearing aid alone can be $2,000, while a pair of hearing aids may retail for a not-uncommon price of $8,000
[2] ref: https://www.audiology.org/careers/become-an-audiologist/
[3] ref: https://www.bls.gov/ooh/healthcare/audiologists.htm#
[4] ref: https://www.fortunebusinessinsights.com/u-s-hearing-aids-market-105653

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