Pew Research Center reports that early benchmarks show the 'post-Millennial' generation, are on track to be the most diverse and best educated generation yet. The post-Millenial generation is born between 1997 and 2012 which is 6 to 21 years in age.
So what does this mean for your dental practice marketing strategy? Whether you're a pediatric dentist, orthodontist or general dentist it's important to understand the demographic portrait of this new generation.
Here are the two key takeaways from the Pew Research Center report on post-Millennial generation that may impact your dental marketing strategy:
1. Nearly half of post-Millennials are racial or ethnic minorities
Post-Millennials are more diverse than the previous generation. Did you know that one in four post-Millenials are hispanic? How is your business catering to the Hispanic population? Do you have a bilingual Spanish/English website? Do you have a call waiting message that is in Spanish? Is your collateral bilingual? Are you advertising to the Hispanic population in your market? It's critical to look at all aspects of your dental practice, from the staff you hire to the photos on your website. Are you representing diversity in your practice?
2. Post-Millennials live in households with higher median household income than older generations when they were young
Post-Millennials have parents that have higher purchasing power than the older generations whey they were young. With this purchase power may come a stronger willingness to spend on cosmetic procedures. With purchasing power also comes the ability to shop around. How is you dental practice pricing and promotions differentiated from the other hundreds of dental practices in your market? When is the last time you did a competitive review? Conducting a competitive review which includes such things as a review of your competition, your brand, your pricing and promotions can help focus your business, find your unique point of difference and lead your market.
The demographic portrait of each generation is different. Each generation must be marketed to uniquely. Your dental practice and market is unique. It's critical to develop a unique custom marketing plane for your practice each year to stay competitive. If you would like to schedule a 1 hour consultation with a dental marketing expert call me today for your free 1 hour consultation.