Ask Joe: How to conduct market research for a new private practice? | PoP 640

Image of Joe Sanok is captured. On this therapist podcast, podcaster, consultant and author, talks about how to conduct market research for a new private practice?

Do you know who your ideal client is? What are some things Google trends can help you explore? How can you do market research around your particular specialty?

In this podcast episode, Joe Sanok answers your questions about how to conduct market research for a new private practice.

Podcast Sponsor: Blueprint Health

An image of Blueprint is captured as the sponsor of Practice of the Practice, a therapist podcast.

Running a great behavioral health practice has never been harder. Payors are demanding more measurable outcomes, therapists are harder than ever to hire and retain, and clients expect a digitally-enabled care experience.

Blueprint is the all-in-one measurement-based care platform designed to help behavioral health providers personalize their care experience, scale their practice with integrity, and drive better outcomes faster.

Plus, with Blueprint’s Managed Billing offering, you may be eligible to earn extra reimbursement – without the extra administrative work. Payors are reimbursing for measurement-based care assessments, meaning some practices can earn incremental revenue for providing better care.

Practice of the Practice listeners are eligible to receive their first month of Blueprint free. Learn more and claim your offer at bph.link/joe.

In This Podcast

  • Who do you want to serve?
  • Market Research — Analytics to consider
  • What type of issues are you dealing with and where are those practitioners?

Who do you want to serve?

There are so many ways to make money, doing things that you don’t love and find joy in, or things that make your heart explode, is totally not worth it. (Joe Sanok)

Who are the clients that make your heart explode? When they reach their outcomes, you want to cheer them on!

Who are the clients that drain you? These are the ones that you need to be referring out.

The more you niche down and figure out who your ideal client is, the better you are setting yourself up for success.

Market Research — Analytics to consider

Census Data

Explore the Census Data to figure out:

  • Who lives in your community?
  • What communities are more affluent?
  • What are the racial and gender specs?

Psychology Today

It would also help you to look at Psychology Today for different specialties and how many therapists are in that specialty. This will help you determine where the greatest needs lie.

Google Trends

Google Trends is a great place to try and understand the market. This will help you to see how many people are searching for certain things in your community.

What type of issues are you dealing with and where are those practitioners?

It may be that there is a hub of nutritionists, yoga teachers, or holistic counselors and that’s your modality – being close to these people means there is going to be lots of cross-pollination between these professionals. In this case, location really does matter.

Useful Links mentioned in this episode:

Check out these additional resources:

Meet Joe Sanok

A photo of Joe Sanok is displayed. Joe, private practice consultant, offers helpful advice for group practice owners to grow their private practice. His therapist podcast, Practice of the Practice, offers this advice.

Joe Sanok helps counselors to create thriving practices that are the envy of other counselors. He has helped counselors to grow their businesses by 50-500% and is proud of all the private practice owners that are growing their income, influence, and impact on the world. Click here to explore consulting with Joe.

Thanks For Listening!

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