Volume 154

March 8, 2023

• Forest & Trees
• Tech Trivia
• TPP's Why
• TAM/SAM/SOM
• By the #'s
• Another Informative (Spanish) Handout

How often do we reflect upon and apply this common phrase’s inherent meaning?

Preoccupation with situational details may preclude concentrating on bigger pictures. Often, getting immersed in figuratively seen “trees” distracts from distinguishing “forests” or macro catalysts. Closely related, on the “nature front”, is getting lost in the weeds idiom. Amid jam-packed calendars, broader perspectives seed strategic benefits.

It is widely known that 10s of millions of North Americans are directly affected by hearing loss and when encompassing family, friends and colleagues, multiples thereof. Surely, this fact and aging demographics motivate vast investments for new product development cycles.

A bit of tech trivia... What momentous event occurred on January 9, 2007?

Steve Jobs introduced the first iPhone. Now on version 14, an estimated 2 billion units have been sold globally, in native languages. That’s fascinating…

Recognizing industry leaders make integral investments which bring advanced technologies and utilization platforms to life, it is remarkable how many third party payors and large scale insurance companies, along with venture capital firms, aggressively pursue the hearing care market. Imagine listening to their Return on Investment discussions which instigate large $ initiatives. With TPP’s market share goals prioritized, favorable trends on your home turf are considered lucrative opportunities. Is it fair to say third party payors don’t typically place your practice 1^st?

TPP’s view the hearing care’s Total Addressable Market (TAM) as immense, with secular growth assured. We can define TAM as maximum revenue potential for particular products or solutions. Specifically, if every person in your service area who could benefit from your product AND service solutions did so, approximately how many would that be? It’s a BIG #...

While consumers’ self-imposed status quo, (quasi) competitors and alternatives are inevitable, TAM concepts about market forces divvying things up necessitates proactive thought and decisive action. Interrelated terms are:

• Serviceable Available Market (SAM)

The revenue opportunity aligned with your practice’s core competencies or those therapeutically relevant to customer base. For example, consider how Starbucks product AND service offering has creatively evolved. Have you been to a Roastery…or introduced new products and services?

• Serviceable Obtainable Market (SOM) or Share of Market

Given your practice scope, brand awareness and referral flow dynamics, what realistic subset of SAM can be garnered? Factor in diverse competition, patient segmentation and ready access. Connecting dots, what’s the picture?

Guided by this analytical framework and appreciating target audiences speak many languages, multilingual market reach is additive. Inspired by humble servant mentality, which of these # of people equations will expand your Serviceable Obtainable Market?

English = A #

English A # + Spanish B # = A+B #

English A # + Spanish B # + C Other Language # = A+B+C#

By the #’s, the answer is clear, as are healthcare professional and Golden Rule intentions.

Based on peer-reviewed research, ethnicities are among various risk factors indicative of how and where health literacy endeavors should be tailored. We purposefully gear multilingual educational efforts towards comorbidities highly relevant to constituents. In this way, understandable language explains pertinent topics. Recipients who need to know will appreciate your due diligence and be further resolved to advocate in their respective communities. 

Adapted from proven winners, here’s another new Spanish design which will prove useful. On the…

• Front is Did You Know? graphic which simply conveys that hearing loss relates to many medical conditions
• Back is our popular Art of Hearing design, showcasing “The Art” of how you develop personalized treatment plans which improve quality of life.

To wit: A Medical Model & Scope of Practice pairing emphasizing that comorbidities matter and more should be aware of how your versatile expertise can help them and loved ones.

See you next week when Multilingual Marketing initiatives are systematically outlined. That’s our Plan.

Bruce Essman

CEO

High Definition Impressions (HDI)

PracticeGrowthbyDesign.com

bruce@hdimpressions.com



314.276.7392

View Previous Issue by Clicking on Link Below:

COVID-19 2020-03-26 | COVID-19 & Springing Forward

PGI #1 2020-04-02 | Communication Wellness Matters

PGI #2 2020-04-09 | Communication Wellness Starts with Why

PGI #3 2020-04-16 | Comorbidity Education, "Did You Know?"

PGI #4 2020-04-22 | “Diagnose & Treat” Comorbidity Education

PGI #5 2020-04-29 | Guiding Principles of The Art & Science of HealthScapes^®

PGI #6 2020-05-06 | Plan for the Other Side

PGI #7 2020-05-13 | Subject Matter Expertise & Social Currency

PGI #8 2020-05-20| Educate Well Monthly & Care to Share Daily

PGI #9 2020-05-27| The Survey Says, Take Science Seriously™

PGI #10 2020-06-03 | MD Referrals, Start with the ABC's

PGI #11 2020-06-10 | Going Digital with Omni-Channel Benefits

PGI #12 2020-06-17 | Monthly E-Newsletters, Stay in Touch

PGI #13 2020-06-24 | Wellness Wednesdays, Healthy Habits

PGI #14 2020-07-01 | Get Well Organized, Be an Educational Curator

PGI #15 2020-07-08 | Good Humor, Healthy Hearing

PGI #16 2020-07-15 | Nurturing Campaigns and Automatic Comorbidity Education

PGI #17 2020-07-22 | On the List, Tag You're It

PGI #18 2020-07-29 | Nurturing Campaigns, Go with The Flow

PGI #19 2020-08-05 | "Outsmart, Don't Outspend," The Right Fit

PGI #20 2020-08-12 | Targeted Mail, On Purpose

PGI #21 2020-08-19 | Tech Upgrades, Just What the Doctor Ordered

PGI #22 2020-08-26 | 5Ws of the Core 4 Learn More

PGI #23 2020-09-02 | The Art of Hearing, More Should Know

PGI #24 2020-09-09 | Friends & Family “Share the Joy of Hearing”

PGI #25 2020-09-16 | Your Unique Value Proposition, Pearls of Wisdom

PGI #26 2020-09-23 | Your patients' journey to well-informed decisions

PGI #27 2020-09-30 | Hear the Facts and care to share daily

PGI #28 2020-10-07 | Take the Lead, Start with Why

PGI #29 2020-10-14 | Change is evident. Let's diagnose and treat.

PGI #30 2020-10-21 | Your Local Pride. Let It Show.

PGI #31 2020-10-28 | Tell Your Story, Make It Memorable.

PGI #32 2020-11-04 | The Art of Hearing, Visibility Matters.

PGI #33 2020-11-11 | See the Pathway to Better Hearing

PGI #34 2020-11-18 | Our Experts, the Right Fit

PGI #35 2020-11-25 | Giving Thanks. Electing Gratitude as an Attitude

PGI #36 2020-12-02 | Get 2021 On Schedule and In Mind

PGI #37 2020-12-09 | E-Newsletters, Open Opportunities

PGI #38 2020-12-16 | Targeted Trio for All to See

PGI #39 2020-12-23 | Time to Celebrate, by the Book

PGI #40 2020-12-30 | 2021 For the Better

PGI #41 2021-01-06 | In 2021, HDI+. For the Better

PGI #42 2021-01-13 | More Wellness Referrals. A Resolution.

PGI #43 2021-01-20 | A Super Launch Meeting. Your VIP Ticket.

PGI #44 2021-01-27 | Motivational PCCs: Practice Culture Commitments

PGI #45 2021-02-03 | The Art & Science of HealthScapes® with Just 3 Words

PGI #46 2021-02-10 | In Their Own Words, a PET Project

PGI #47 2021-02-17 | Habit-forming progress is 1% better

PGI #48 2021-02-24 | Make Routine Progress Easy and Satisfying

PGI #49 2021-03-03 | The Art of Customer Service, Be Our Guest

PGI #50 2021-03-10 | Time for R&R (Rewards and Recognition)

PGI #51 2021-03-17 | A Year of Insights, For All to See

PGI #52 2021-03-24 | 3 C's, 1 Purpose. Your Practice Growth by Design.

PGI #53 2021-03-31 | Original Content, On Demand

PGI #54 2021-04-07 | Expert Coaching, Great Sports

PGI #55 2021-04-14 | Base Hits & a Double Play

PGI #56 2021-04-21 | Personalized Care, Think Local

PGI #57 2021-04-28 | The Art of Hearing, Who Knows?

PGI #58 2021-05-05 | Circles of Life, Listen Up

PGI #59 2021-05-12 | Customized Presentation Folders, Lasting Impressions

PGI #60 2021-05-19 | Practice Growth, From the Outside In

PGI#61 2021-05-26 | Physician Referrals, Doctor’s Orders

PGI #62 2021-06-02 | The ABC’s of Physician Referrals

PGI #63 2021-06-09 | Senior Living, The Numbers Speak

PGI #64 2021-06-16 | PEAK Performance, Measured Targets

PGI #65 2021-06-23 | PEAK Performance, High Priorities

PGI #66 2021-06-30 | SLC Growth, Be the Early Bird

PGI #67 2021-07-07 | From Their View, What’s Your Story?

PGI #68 2021-07-14 | An Informative Quartet, All Can Hear

PGI #69 2021-07-21 | Open Opportunities. Did You Know?

PGI #70 2021-07-28 | Educational Presentations, On the Menu

PGI #71 2021-08-04 | Live and Learn. The Curse of Knowledge.

PGI #72 2021-08-11 | To Be Memorable, Stick with It

PGI #73 2021-08-18 | Hearing Health Bingo, We've Got Your #

PGI #74 2021-08-25 | Hearing Health Bingo. Know How.

PGI #75 2021-09-01 | Frontline Staff. Who Can Help?

PGI #76 2021-09-08 | Opportune Invention & Hearing Health Ambassadors.

PGI #77 2021-09-15| Bring Precious Sounds to Life, Justice Served

PGI #78 2021-09-22 | Hearing Health Ambassadors SAVE

PGI #79 2021-09-29 | Hearing Health Ambassadors, Time to Find

PGI #80 2021-10-06 | The Networking Effect, Bringing it Home

PGI #81 2021-10-13 | Healthy Hearing, Good Business.

PGI #82 2021-10-20 | Corporate Wellness Matters

PGI #83 2021-10-27 | Hearing Health Partners, Carefully Funneled

PGI #84 2021-11-03 | Corporate Wellness Programs. How Rewarding.

PGI #85 2021-11-10 | Valuable Benefits, That’s The Story

PGI #86 2021-11-17 | Outside-In Growth, Handy Reference Guide

PGI #87 2021-11-24 | Go-Givers, Inspiring Heroes

PGI #88 2021-12-01 | 2022 Priorities, Ready to Rock.

PGI #89 2021-12-08 | 90 and Counting, Speaks Volumes

PGI #90 2021-12-15 | Educate Well Monthly™, Back to Basics

PGI #91 2021-12-22 | Did You Know? Targeted Trio

PGI #92 2021-12-29 | By the Book, Turning the Page

PGI #93 2022-01-05 | In 2022, Change for the Better

PGI #94 2022-01-12 | Super Practice Culture, The 3 Ts

PGI #95 2022-01-19 | Facebook Features, Wellness Wednesdays

PGI #96 2022-01-26 | Your Competitive Edge. Thankful Ripple Effects.

PGI #97 2022-02-02 | Good Humor, Healthy Hearing

PGI #98 2022-02-09 | Branding Basic$

PGI #99 2022-02-16 | 100th Practice Growth Insights™, @ Your Service

PGI #100 2022-02-23 | Your Practice Growth Insights, Go With The Flow

PGI #101 2022-03-02 | Your Growth OpportUNITY, Search Away

PGI #102 2022-03-09 | Your Practice, Uniquely Better & For Review

PGI #103 2022-03-16 | Your Health Questionnaire, Blue Man Style.

PGI #104 2022-03-23 | Ears Collect, Brains Connect™

PGI #105 2022-03-30 | 9 Facts, 1 Goal. Dementia Awareness.

PGI #106 2022-04-06 | Peer-Reviewed Success, Lead The Way

PGI #107 2022-04-13 | Knowledge Itself. Omni-Channel Works

PGI #108 2022-04-20 | Educational Architecture, Form Ever Follows Function

PGI #109 2022-04-27 | Grow Physician Referrals, Don’t be $alesy!

PGI #110 2022-05-04 | Hear the Fax™, Stay in Touch

PGI #111 2022-05-11 | E-Newsletter Nurturing = Healthy Growth.

PGI #112 2022-05-18 | Dementia Awareness Contagion & Social Currency

PGI #113 2022-05-25 | Dementia Education, The Lancet Journal Speaks

PGI #114 2022-06-01 | Modify Dementia Risk, Be Accountable.

PGI #115 2022-06-08 | By the Book, We Promise

PGI #116 2022-06-15 | Hearing Loss Prevention, A Sense of Urgency

PGI #117 2022-06-22 | Safer Soundscapes, Sustainable Hearing™

PGI #118 2022-06-29 | Safer Soundscapes, Sounds Risky, By the Number

PGI #119 2022-07-06 | Taking Care of Ears in the Teenage Years

PGI #120 2022-07-13 | Hear the Facts About NIHL

PGI #121 2022-07-20 | NIHL Collection & Just Saying Thanks

PGI #122 2022-07-27 | High Performance, Cognitive Decline

PGI #123 2022-08-03 | Cognitive Decisions, In Mind

PGI #124 2022-08-10 | Pearls of Wisdom™, Trustworthy Information

PGI #125 2022-08-17 | Keep Your Educational Tools, In Mind

PGI #126 2022-08-24 | OTC Hearing Aids, Healthy Choices

PGI #127 2022-08-31 | OTC Hearing Aids. Mild Concerns, Profound Opportunities.

PGI #128 2022-09-07 | OTC is for Over-the-Counter. R is for Resilience.

PGI #129 2022-09-14 | Best Practices, How Many Lives?

PGI #130 2022-09-21 | Products & Services, New On-Ramps?

PGI #131 2022-09-28 | Service Delivery Duo, For the Future

PGI #132 2022-10-05 | OTC, Open to Counseling. By Definition.

PGI #133 2022-10-12 | Radical Transparency. Candid Conversations

PGI #134 2022-10-19 | Candid Conversations, All About It

PGI #135 2022-10-26 | OTC HA. Ask Us, Learn More.™

PGI #136 2022-11-02 | OTC HA Guiding Principles → 8 Words

PGI #137 2022-11-09 | Got Hearing?™, A Choice Matter

PGI #138 2022-11-16 | Got Hearing?™, A Primary Care

PGI #139 2022-11-23 | Attitude of Gratitude, Gifts of Hearing

PGI #140 2022-11-30 | Your Top Docs, Get A Round Tuit

PGI #141 2022-12-07 | Gifts of Hearing, Team Efforts

PGI #142 2022-12-14 | 2023, A Sense of Optimism.

PGI #143 2022-12-21 | Customized or Commoditized, Experience the Difference.

PGI #144 2022-12-28 | 2023 Success, Let’s Resolve.

PGI #145 2023-01-04 | 2023 Planning, In Review.

PGI #146 2023-01-11 | Powerful Moments, Remarkable Impact

PGI #147 2023-01-18 | Elevate Positives, 9X Better

PGI #148 2023-01-25 | Get Insights, Tripping Over Truth

PGI #149 2023-02-01 | Be Proud, Multiply Milestones

PGI #150 2023-02-08 | Healthy Connections, What Matters

PGI #151 2023-02-15 | Super Goals & Winning Ways

PGI #152 2023-02-22 | Mutual Understanding, Speaks My Language

PGI #153 2023-03-01 | Health Literacy, All-Inclusive.

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