Marketing and Operations

47. Which gets the largest portion of your marketing budget?

Print
13%
Community events (including sponsorships)
12%
Direct mail
10%
Other social media marketing
8%
Paid search (PPC, Google Ads, etc.)
7%
Facebook
7%
Email marketing
7%
Radio
5%
SEO
5%
Television
2%
Billboards
2%
Other
3%
Don’t advertise
19%

 

48. WWhich of the following social media/business networks do you actively use on a professional basis?

Facebook
88%
Google
50%
Instagram
46%
LinkedIn
19%
Twitter
13%
YouTube
7%
Pinterest
5%
Other
5%

49. How many in-store events (incl. trunk shows) do you hold a year?

0
46%
1–2
37%
3–4
12%
5–11
3%
12 or more
2%

50. Is your marketing mostly intended to build brand awareness or prompt an immediate action from customers?

Brand building

38%

Direct response

41%

Not sure

21%

 

51. What is your Google My Business (Review) rating?

5 stars
39%
4.5 stars
32%
4 stars
9%
3.5 stars
3%
3 stars
1%
2.5 stars
0%
2 stars
0%
1.5 stars
0%
1 star
0%
Don’t have one
16%

52. How many Google Reviews does your business have?

0
12%
1-10
24%
11-20
20%
21-30
9%
31-40
9%
41-50
6%
51-75
5%
76-100
5%
101-150
4%
151-250
3%
More than 250
3%

53. The economy is in its longest expansion ever. History says it must come to a stop sooner or later. Are you doing anything now to get ready for the next downturn?

The 5 most popular answers were:

1. Reduce/eliminate debt
2. Save money
3. Streamline inventory
4. Create budget-conscious frame/lens packages
5. Growing/strengthening patient base

Want actual specifics? These are some respondents’ standout strategies:

• We are fine tuning the patient experience to increase patient retention in the future.
• Increase marketing.
• Opening a second location in a more affluent area.
• Reducing inventory away from giant companies that expect you to buy more than you can sell.
• Limiting hiring and paying down debt aggressively.
• Selling the business and retiring.
• Praying.
• Getting expenses under control now.
• Trying to cut debt and increase margins without affecting quality.
• Staying debt free.
• Putting money into savings every month and being careful about how much we spend on frames.
• Buying less and keeping less back stock.
• Controlling inventory and staffing.
• Carrying a budget frame lens package.
• Added in-house edging to manage overhead costs and offer less expensive lenses.
• Consolidating costs, expanding customer loyalty/dependence on private label brand to capture benefits-only and prescription-only customers.
• Staff training to improve customer service and patient experience.
• Building the war chest to buy when others start to fail.
• Ensuring reserve account is at a high enough level.
• Staying open later, making fewer purchases, consolidating buying groups, looking at services (phone, internet) to see if we can trim.
• Creating eyeglass packages to compete with online retailers based on price then we’ll blow them away with service for a similar price.
• Taking a hard look at our demographic and reevaluating frame brands and lens offerings so we have the proper mix and are purchasing the best way.
• Buying extra frame and lens stock at good discounts. Also, actively asking current patients for referrals.
• Retaining 15% of net profit for the economy downturn. I have nine months of business expenses saved.
• Preparing to sell package deals and considering a sale to private equity.
• Moving towards a medical model.
• All cash buying.
• 11% of each transaction is put away for a downturn.
• Postponing future expansion.
• Limiting extra inventory; reducing look alike styles.
• Voting.
• Building a nuclear bunker and buying lots of canned food.
• Been selling CBD products in office for two years.
• Direct shipping eyewear to reduce cost in office.
• Invested in private label brands and have more flexible terms with our frame lines.
• Offer package plans starting at $29 and up; many patients already    use this.
• Controlling inventory. We are already seeing a much slower year this year.
• Holding more cash.
• Not accepting vision plans! Private pay and medical care are the most reliable in depressed economies.

54. Check the features your business has:

Customer bathroom
85%
Sofa/sitting area
66%
Satellite radio
33%
Free wifi/charging station
32%
Bar/beverage area
29%
TVs used for promotional purposes
28%
Paperless patient registration
24%
Kids’ room
23%
TV for entertainment purposes
21%
Viewing window into the lab
16%
iPads for patient or display purposes
15%
Chandeliers
10%
Selfie wall
8%
Store pet
7%
Fireplace
5%
Fish tank
4%

55. How long since you last remodeled?

1 year or less
19%
2 years
14%
3-5 years
34%
6-10 years
18%
More than 10 years
15%

 

56. What days is your business open?

Sunday
7%
Monday
92%
Tuesday
98%
Wednesday
96%
Thursday
98%
Friday
96%
Saturday
55%