3 Reasons Why Median Household Income Matters For Your Dental Practice Marketing Strategy
Median household income just one measure in demographic and lifestyle analysis. It is a measure that describes a household's economic status. When we look at median household income for a location we are able to determine the economic status of a particular place and compare it to surrounding areas. Here are 3 reasons why median household income matters when building your dental practice marketing strategy:
1. Do you know the median household income for where your practice is located?
This measure is important to know and understand because it will tell you the economic status of your area and the clientele you serve.
2. Which zip codes are most of your patients coming from?
It's important to understand where you're pulling most of your patients from and then understand the median household income for those areas to broaden your insights about your patient base.
3. Did you know that the median household income is a strong indicator for a residents spending power
Places with higher household income can typically support higher prices for products and services while lower income household may not. Median household income also influences how best to position your brand in that market place and how you develop your pricing and promotional strategy for example.
In Fairfax County, where I reside, the top 5 wealthiest places in Fairfax County are Great Falls, Wolf Trap, Crosspointe, Floris and Mclean. The top 5 low lowest household income areas in Fairfax County are Hybla Valley, Woodlawn, Seven Corners, Bailey's Crossing, and Fort Belvoir. These graphics are a nice illustration of this data:
Again, median household income is just one measure of many when determining the demographic and lifestyle profile of your Northern Virginia, DC metro dental practice. If you would like more information about the demographics in your area or would like to schedule a free 1 hour consultation please call me today (703) 717-1011 or email me at
kat@denteomg.com.
