The $10,000 Gen Z Pot of Gold Fix

The $10,000 Gen Z Pot of Gold Fix

This week on Winning In Business, Angus Pryor the Practice Growth Specialist will be sharing with you about understanding who your target markets are.

I was just at dinner with family and it just, something was said over dinner. It just made me think I have got to come and make this video, straightaway. Now, the fact is that as some of my relatives are Gen Z’ers, that means they’re sort of in their early twenties. I think Gen Z is like mid-teens to kind of mid-twenties, something like that.

And we were talking about the fact that this relative has just got a brand new set of clear aligners, two days ago. I just want to relay this story to you so you understand the pot of gold that exists to the practice that’s prepared to do the right thing in relation to the generations. ‘Cause one of the things about the generations is they exhibit quite different buyer behaviour.

Now I’m not suggesting you try to be all things to all people, but if you’ve got a decent group of whatever generation it is in your area, then you really need to adapt to the way that they consume content. So this relative of mine who started their aligner treatment yesterday is going to spend almost $10,000 on it. Both arches, over the next 12 to 18 months.

And here is the thing that I found extraordinary. This person has been going to the same dentist for almost a decade, from childhood to now making their own adult decisions. They didn’t get their aligners done then. Do you know where they got them done? They got them done at the practice that had the best online reviews.

Now I’ve been banging on about reviews for some time, but talking to these two Gen Z’ers and let’s assume that their views are relatively representative of their generation. They said, “Even if someone says to me, ah, you should go to this coffee shop or whatever, I will go and check online to see what their reviews are like.

And if their reviews are no good, I’m not going there.” But the fact is, even though they are an existing client at a previous dentist for years, they looked online, found a practice that had really great reviews and a great presence and chose to go and spend $10,000 there, having had no previous dealings with them.

You can see this really is the $10,000 Gen Z pot of gold. So what’s the take home message here? Understand who your target markets are. It may be more than one in your area and be in the spaces where they go looking for you. And certainly, as I’ve been saying a lot in the last month, your Google Reviews’ very hard to go past, even more valuable than word of mouth.

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