In today's tight economy and competitive eye-care/eyewear market, it is important for eye-care professionals to explore every opportunity to meet all their patients' needs. In doing so, you could uncover untapped potential revenue streams.
Ancillary income from the sales of annual supplies of contact lenses; accessories: readers/clips/chains/cleaners; plano sunglasses; gift certificates; and medical exam/testing can add a tremendous amount of profit to your bottom line and enhance the "customer delight" factor.
Reading glasses offer the current biggest opportunity for incremental income in the accessory category. This segment of the market shows the strongest growth as evidenced in 2007 when we witnessed an increase of 32.5%.
Your patients are the baby boomers and they want to look young; want the best quality and have a sense of entitlement; want something right now; want knowledge; and have the ability to afford it.
In a recent survey created, deployed, and summarized by The Vision Council, it was determined that of those practices that did stock readers, they only sell 2.8 pair per week. This can be attributed to the "self-serve" sales tactic commonly used for accessories.
To tap into this potential revenue stream, don't wait for readers to sell themselves. Present them to all patients in this category as an additional solution.
Steps to boosting ancillary income
Consider ways to showcase these goods and services and make the buying experience fun and easy. For accessories, keep the displays clean and well-stocked. Rotate themes and product colors seasonally to keep them fresh and alluring.
–Create eye-catching displays and promotions. –Instant gratification: take-along versus ordering.
–Create eye-catching displays and promotions.
–Instant gratification: take-along versus ordering.
Never oversell or push extra products or services on your patients. Always maintain your needs-based style of presenting eyecare/eyewear solutions.