Establishing a profitable practice is the goal of most dental specialists. But for busy practitioners the question quickly becomes: How can you effectively build the profitability of your business while meeting the clinical demands of your practice? Here are seven key drivers to consider that will help you accomplish that goal and keep your practice profitable even in this down economy.

Are you a very outgoing and upbeat person? Do you always enjoy meeting new people and are you comfortable both one-on-one and speaking publicly?

According to WPI Communications’ Dental Marketing Barometer Survey 91% of dental specialists report that having a marketing plan or program is “very important” or “somewhat important.” That’s not surprising. A solid and actionable marketing plan is an essential blueprint for successful execution.

The plan contains all of your marketing activities, usually for a 12-month period. By doing some research and understanding what marketing methods will work best for your target audience, you’ll confidently and accurately make decisions to grow your practice. And you’ll be spending your marketing dollars most efficiently.

According to an old proverb, “Experience is the best teacher,” and when dental marketing expert Jerry Jones began his dental marketing career, he took that advice to heart. Jones, who runs the dental marketing agency Jerry Jones Direct from its headquarters in Salem, Oregon, decided he wanted to make sure his company’s marketing efforts would be designed to meet the needs of real-life dentists. And what better way to understand those needs than to open and manage a dental practice, to see and experience firsthand the tools a practice needs to keep it ahead of the pack?

Your dental practice’s name serves as the foundation for your personal brand. But all too often, dental specialists devote minimal effort to ensuring that they’ve selected the right name for attracting and retaining patients. It’s important to invest the proper time and resources to getting this aspect of your business right.

Inspirational author Robert Collier once said, “Success is the sum of small efforts, repeated day in and day out.” And although he spoke these words nearly a century before, Collier might well have been describing contemporary marketing executive Ed O’Keefe. Today, O’Keefe is at the helm of a very successful dentist marketing business

As a prominent dentist practicing in the midst of a high-tech era, you have probably observed the way constant communication has become a pervasive part of our culture. Today, people have trouble hanging up their cell phones when checking out at grocery stores and leave the room several times in the middle of meetings to view messages sent to their BlackBerry devices. But with whom are they communicating? They could be communicating with you.

Obtaining patient referrals is key to building a successful dental practice. Though marketing was probably not included in your professional curriculum, you have no doubt picked up a handful of methods for building your patient base through increased referrals: treating referring dentists to lunch, sending them birthday cards, distributing updated dental care information and hosting open houses, just to name a few.

As you invest time and money in various methods for developing your practice, are you keeping track of what works and what does not?