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S P E C I A L E D I T I O N 2 0 1 5 • O P T O M E T R I C M A N A G E M E N T . C O M 49 I NNOVATE OR die. Tis of-heard theme in the business world is a harsh dose of reality to most small business owners. But in- novation is what makes Prac- tice A, who has been around just as long as Practice B, soar into success while Practice B strug- gles to survive. Incorporating advancements into our practices elevates patient care, grows our patient base, and, ofen, brings fnancial growth. So, how do we uniquely merchandise "innova- tion?" Here are three tips: 1 DIFFERENTIATE Innovate … or rather, diferenti- ate. Back to Practice A and Practice B. Tey ofer similar services and products, and staf around the same number of employees. Te dispar- ity of the two businesses lies in the diferent ways in which they run their practices. Practice A takes a superior ap- proach to innovation and diferen- tiating itself from Practice B. For instance, both practices have equal access to superior contact lens tech- nology. Existing in the same geo- graphic location, they have the same sales reps. However, Practice A chooses to bring in its rep to edu- cate doctors and staf on the newest lens technology, how to best ft a lens and how to position it in its practice mix. Practice A is proactive in mer- chandising the new contact lens to its patient base, and is eager to see how the lens will beneft both patients and the practice. Conversely, Practice B receives the new lens and reads mini- mal information on it — and it sits in the trial lens area collecting dust. You can apply this scenario to any number of new products that come our way on a daily, weekly or month- ly basis. Choose to embrace innova- tion for your practice or be ready to accept mediocrity. 2 ASK AND TELL Ask patients what they want, and then be prepared to tell them what they want. As Steve Jobs once said, "People don't know what they want until you show them." How many times has a patient been sitting in your chair and, afer a lengthy discussion of his lifestyle and work environment, you present all the eyewear options that best ft his needs, only to have the patient ask, "What would you recommend I do?" Tis is the perfect opportunity to introduce a new lens or frame design and explain how the technology be- hind it would best suit her needs. 3 CREATE OPPORTUNITY Use innovation to create opportu- nity — starting with your current pa- tient base. In today's changing opto- metric landscape, the muddle of red tape and regulations we have to abide by can be overwhelming. Expanding your services and technology will create a more diverse portfolio of op- tions for your patients and attract a wider patient base. However, you have to merchandise and promote this technology. Typi- cally the most efective way to do that is to reach out to your current pa- tient base. For instance, let's say both Practice A and Practice B invest in dry eye testing and treatment. Prac- tice A actively promotes internally to its existing patient base, whereas Practice B decides to primarily pro- mote externally, mainly to new pa- tients. Te likelihood of attracting a new patient vs. expanding the servic- es used by an existing patient are far less for Practice B. Innovation may be appreciated by new patients, but your established patient base, who knows you and your practice, is the better target for opportunity. LEAD THE WAY Embracing innovation is what sets leaders apart from followers. Unique approaches to innovating your practice includes merchandis- ing those improvements in innova- tive ways. OM GINA M. WESLEY O.D., M.S., F.A.A.O., practices at Complete Eye Care of Medina, a Vision Source practice, which she opened in 2008. She was honored as Minnesota's Optometrist of the Year in 2011. Email drwesley@cecofme dina.com, or visit tinyurl.com/OMcomment to comment on this article. CHOOSE TO EMBRACE INNOVATION . . . OR BE READY TO ACCEPT MEDIOCRITY. MERCHANDISING INNOVATION THREE TIPS TO HELP YOU PROMOTE YOUR ADVANCED PRODUCTS AND SERVICES BUSINESS MERCHANDISING