Optimizing your Marketing Budget
Are you dumping money into marketing only to get little or no returns?
Why do you think that is?
When you do marketing, you should be targeting areas that have the best return on investment. For example, video game advertisements have been most successful with Youtube, and least successful with websites.
What’s the dental industry’s best platform?
I don’t know what platform your audience is on, but I do know a great way to find out: ask your patients how they found you. That’s it. If it’s Facebook, invest in Facebook. If it’s google reviews, encourage your patients to post reviews online.
Once you figure out what platform gives you the most traffic, you can put your money there instead of something that’s not giving you any returns. Profit First labels marketing as an expense. Although marketing is necessary, you may not need to be investing as much as you are. Alternatively, if you spend the same amount on just two platforms you know your patients frequent, you’ll get a much better return on investment, and a much better profit margin.
Although I would encourage hiring a marketing professional to do the dirty work of marketing, you can figure out where those efforts (and cash) are best spent yourself, for free. Don’t be intimidated by a marketer telling you to invest in your website when your patients barely visit it anyway. You know your patients better, and you should be telling the marketer where they are at.