Why Should A Customer Buy A Hearing Aid From You?

Two million people in the U.S. currently wear hearing aids, and while we expect that number to grow as the Baby Boomers start looking for hearing solutions, the fact is that many hearing aid retailers are operating in highly-competitive markets.

OFFER HEARING SOLUTIONS, NOT JUST HEARING AIDS

If you have a few shops in a metropolitan area, you know that the competition is fierce. There are a half-dozen other retailers operating in your service region. Some may be eating your lunch. This creates a narrow, “vertical” market where numerous outlets provide the same services and sell the same products.

Even in rural areas where you had a territory to yourself, if a single competitor moves into the region, you’ve got competition, you’ve got a problem. And, what if your new competitor is also a Phonak dealer or a Starkey outlet. Now you have the potential for price cutting, which always hurts business.

All of this leads to one question: why should s prospective hearing aid consumer buy a hearing aid from you and not your competitor across town – or your six competitors within a 20-block territory?

The answer? Word of mouth advertising you develop through client care that beats the pants off the competition.

 

First, Study the Competition

Start tracking what your competitors are doing to market products and services. You can determine how successful a particular marketing channel is simply by watching to see if the competitor continues to use it.

Here’s an example: let’s say a couple of your heavy-hitting competitors run half-page ads in the local newspaper. Very expensive, even in these times of declining readership and ad revenues. Newspapers are still a main marketing channel for local businesses.

Okay, if the competitor’s ads continue to run week after week you know it’s a viable marketing outlet for you. Why? Because if the competitor wasn’t seeing a good ROI on those half-page advertisements, s/he wouldn’t keep spending the money for the weekly placement.

Competitor ads tell you what works. A half-page ad enables you to provide a map to your stores, announce hearing aid seminars, offer free consumers’ guides and, of course, plenty of product literature. Don’t reinvent the wheel. Follow the successful competitor. You can’t copyright an idea so steal from the best and design your ads with the same features your competition employs.

Conversely, if a competitor drops the half-page advert and goes to a classified, watch that classified. Maybe the big ad didn’t pay for itself but that classified is pulling them in if it runs every day or every week.

What makes you so special?

Work in two areas, here. Offer more hearing solutions and expand your service offerings.

In the area of product offerings, become an outlet for quality name brands for those buyers seeking the best hearing experience possible, but also offer entry-level models for those buyers who place cost as the number one buying consideration.

Offer assisted listening devices for buyers who “just want to hear the TV.” Okay, this device will do the job but take the time to explain the proper use of ALDs and how to prevent additional hearing loss because these user-controlled devices lack any limiters or filters. It’s up to the user to take the necessary precautions to eliminate further hearing loss.

Disposable hearing aids are also available. Now, some dispensers may not approve of these devices but, for some consumers, they’re the perfect solution. Some people experience hearing loss that requires the occasional hearing boost. They don’t need a hearing aid all their waking hours. And, because these disposable hearing aids are so inexpensive, they may be the perfect solution to some consumers’ hearing loss problems.

Go over your pricing tiers and add devices at price points that you currently DON’T hit. For example, you may have a device at $1,000 and one at $1,400 – but nothing in between. You need to find a device that sells in the $1250 range to hit as many price points as possible.

Services

Review the competition’s service offerings. Then go them one better.

For example, you’ll pick up business by adding in-home testing and fitting to your list of service offerings – especially if the competition requires buyers to come to the store. NO! You go to them.

How about expanding your hours? If the competition is closed on Sunday, guess what? You’re going to pick up every Sunday shopper. Everyone because you’re the only outlet open on Sundays.

Arrange for hearing evaluations in long-term health care facilities to simplify the process of fitting a bed bound patient with adequate hearing gear.

Refurbish older units and donate them to service clubs like the Elks or Lions. These organizations will ensure these refurbs get to the people who need them most.

Offer free after care. Free batteries for life. Free maintenance and cleaning. Free hearing tests – the whole nine yards. This will grow your client base quickly, creating loyal buyers who come to you when they want to upgrade their hearing aids.

Provide hearing evaluations as a free service to schools. Work with school administrators, get permission slips and check the kids for hearing loss. And while you’re there, tell them to turn down those darned MP3 players. A little one-on-one education may save a young person’s hearing.

You get the idea. First, study what your competition is doing. Then, do it better. Offer lower prices, unlimited benefits, outreach programs, more hearing solutions – all part of carving out your dedicated, loyal band of hearing aid wearers.

And this dedicated band is the best advertising available to small business owners. Word of mouth spreads fast and that happy, satisfied buyer is going to tell six other people about why they should buy a hearing aid from you rather than the store around the corner.

Word of mouth is your best, most effective advertising. And you develop good WOM by providing not hearing aids but hearing solutions.

John M. Adams III

jma3@hearingtutor.com