Balderdash! That’s our reaction to the following report on hearing aid sales.
According to a recent study on hearing aid sales
referenced by AAA:
How can this be?
- Hearing aid sales trended down over 17% in 2014 compared to 2013.
- 2015 is expected to follow the same downward slope.
- In addition, sales of premium units dropped by a whopping 40%.
Given the growing number of people who need hearing aids and a growing economy?
Our own data tells a different story.
Once our member practices implement a proven marketing strategy, we see:
Are hearing aid sales failing or is it outdated marketing that is failing?
- Patient calls increase dramatically within the first year,
- Calls grow to an average of around 160 per month,
- Then year to year patient calls are steady or grow by 5-10%,
- And acceptance rates appear constant, too.
Earlier this year the same publication reported hearing aid sales were up
by 7% in 2014 and 11% for the first quarter of 2015. No, we’re not making this up!
Sales can’t be going up and down at the same time. Which is it?