Dental Market Insights Blog
February 15, 2023
Embracing innovation: How you can use rich data to enable growth
All organizations want to grow and dental suppliers who practice innovation through data-driven strategies can grow regardless of their size, internal resources or market conditions. Let’s break down what innovation means in today’s market and how supporting innovation with the right tools can help business leaders meet their revenue goals.
Innovate to better understand customers
What is innovation? In a survey, Gartner Group says a significant percentage of Chief Marketing Officers reported increasing investments in innovation, but 91% struggled to measure its impact and 83% did not believe innovation initiatives delivered on expectations. The problem may not be innovation, but that most organizations really don’t know how to define what innovation is or recognize the tools to make it successful. Gartner defines innovation as the execution of new ideas that create value. Creating value for customers by thoroughly understanding their needs is how forward-thinking organizations can succeed.
While these needs are always changing, the right data sources can allow business leaders to spot problems and offer solutions before clients even realize they need them. That’s where targeting and market segmentation data insights derived from actual dentist practicing behavior can help dental manufacturers, dealers and labs to be more successful in their sales and marketing outreach.
Fuel innovation with data
Understanding customers is hard, especially for dental suppliers who might be working with small teams or with limited resources. Still, putting in the work to find and customize outreach to the dentists who are practicing in a way that aligns closely with your products will lead to higher sales success. Knowing who to target and when is the key to creating a customer experience that enables those sales. According to a report from Forbes, 84% of companies that worked to improve customer experience reported an increase in their revenue.
For dental suppliers who want to innovate their sales and marketing process and start down the path to a better customer experience, try looking at new sources and greater granularity of data on dental providers and practices. This can include:
- Insights into practice size, specialty and affiliation status
- Practicing trends by geography
- Procedure-based behavior insights
Investing in these kinds of data sources can allow organizations of all sizes to address customer needs with precision — and without wasting sales and marketing resources on outreach that doesn’t resonate with providers.
Explore innovation — and growth — with us
Business leaders agree: data, especially targeting data, is what is needed to power success in an increasingly digital world. Using rich data sources to see opportunities for innovation as well as aligning effective messaging is a better way to compete and remain relevant.
Fluent offers industry-leading data insights and solutions for dental suppliers. If you want to see how the most comprehensive dental data can help you become more innovation-driven, contact us today!
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