8 Tips for Doing Competitor Analysis in Optometry

One of the smartest and most effective ways to grow and develop your optometry brand is to research your competition. Keeping tabs on what other market players are doing helps you identify their strengths and weaknesses. This, in turn, can help you create a unique value proposition that makes your own services stand out. Here are ten easy ways to perform competitor analysis in optometry:

1. Go to Professional Conferences

Attending trade shows, professional conventions, and conferences is an excellent way to stay up to date with what your competitors are doing. Interact with their representatives to learn about their services and product offerings.

2. Read Industry Reports

This can help you gain insight into the current market conditions and the latest advancements in the industry. Corporate and even privately held optometry firms have to file certain reports with various regulatory authorities on a regular basis. These might be available directly on the local planning commissions’ website, or you may get access on request. Jobson has great surveys and information that they post.

3. Check Out Your Competitor’s Online Marketing Strategy

Every business in the modern world has an online presence. Browsing your competitor’s website can tell you a lot about their services and how they operate. If you have a basic know-how of SEO, you can use tools Google Trends to identify how other optometrists are attracting visitors. Take note of social media platforms they are using, how they post and what content they post. Engagement is key, how are they engaging their audience?

6. Email Strategy

You can subscribe to your competitor’s newsletter on their website. This will keep you in the loop in regards to how they communicate with their customers. You will get insist information on new topics or products in your inbox!

7. Secret Shopper

This is hands down the most comprehensive strategy for doing a competitor analysis in optometry. Getting someone to get information on employees, supplies price points and how patients view the practice is critical.

8. Partnerships

Look out for any advertisements and job openings that other players in the industry may post from time to time. Pay attention what they are looking for in a candidate and who they partner with for their business. You should be thinking big picture long term.

Eye-Opening Truth: Corporate Optometry Myths Debunked

For many optometrists, both young and experienced, the term ‘corporate optometry’ has a rather negative connotation. It resonates with unpleasant work settings, long working hours, stunted career growth, and whatnot. This is mostly because of the misconceptions and stereotypes that surround the field of corporate optometry.

Take a look at some of the most common corporate optometry myths to see if you have also believed them to be true so far.

1. As a Corporate OD don’t do Medical.

Refracting lies at the core of optometry, and as such, is a major part of corporate practices too. However, it sure isn’t the ‘only’ thing that ODs do at the job.

Many don’t realize this but as a corporate OD, you can easily practice full-scope optometry or even specialize in a particular medical model for eyecare if you prefer.

2. Exams are different in a corporate setting.

This is one of those corporate optometry myths that are loosely based around perspective. Many Corporate ODs will practice just like ODs in a private practice. Many times Corporate locations have the latest technology to better assist ODs with their exams.

The reality, however, is that patients aren’t biased about the type of setting in optometry. If you perform comprehensive eye examinations and are able to satisfy your patients with regards to the treatment options and answering their queries, they will choose your practice regardless of whether it’s centrally managed or privately run. Corporate ODs do dilate their patients and treat eye disease.

3. Corporate ODs Need to Sell Eye wear

If you think corporate ODs are required to promote the optical and upsell its products and services, you aren’t in the minority.

Unfortunately, that might be true in some cases, but that fact is that you can work as a corporate OD and still be completely independent from the company – at least with regards to being forced to increase the business’s sales.

Depending on which brand you join, you can enjoy full autonomy over treating your patients. You won’t be pressurized into making recommendations that you know aren’t really required by the patient.

5. Corporate ODs Only Accept Vision Care Plans

This might be true to some extent depending on which enterprise you join. Some corporate ODs may see a high level of vision plans because the company markets to patients in that optical side. However, many corporate optometry practices cater to medical eye care patients too. This allows you to build your medical expertise in the real sense.

We hope debunking these common corporate optometry myths has opened your eyes to the truth and increase your willingness to gain field experience in this eye care setting.