Many patients are flush with cash from federal and state COVID-19 economic stimulus payments. Americans saved over $1.4 trillion in 2020, almost twice as much as in the prior year, due to stimulus payments and decreased spending. And that was prior to the December 2020 federal aid package that sent another $600 per person in stimulus checks, and the $1.9 trillion American Rescue Plan that recently added another $1,400 per person in direct payments. Research shows most of these funds have been used to pay down debt or increase savings.
With vaccinations ramping up, and restrictions being eased, a major boost in consumer spending is just around the corner. The U.S. economy is expected to grow by 6% during 2021, the fastest expansion since 1984. Elective surgery and other dental procedures are predicted to come back strong in the second half of this year as patients feel more comfortable returning to your office.
Emphasize Needed Services
In essence, marketing is simply determining your patients’ needs and then meeting them. Unfortunately, most practices haven’t...
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