Milkshake Marketing Tutorials: ROI
How marketing your practice properly is an investment, not an expense
As any of you who were at BDIA last month can attest, the dental market is increasingly competitive. Fees are under threat from every direction and aggressive pricing from competitors, especially corporate groups who benefit from economies of scale, is an ongoing challenge for many practices. So what does success look like in this increasingly competitive space? The key word is ‘diversify’. Just as you wouldn’t invest all your savings in a single fund, nor should you put all your marketing budget into just one campaign. We’ll show you how to split your approach into interconnected avenues in order to ensure a better return on investment (ROI).
Here at Milkshake, we’ve found that marketing works better when it’s organised into parallel yet linked streams that work together synergistically to boost results.
Parallel yet interlinked – surely that defies the laws of physics? Not in marketing! Let us explain. You have a website – great, but is anyone visiting it? You get on social media and start talking about your treatments and linking back to the website – now people are beginning to take notice, but we can do more.
You buy some pay-per-click advertising for keywords related to the treatments you’re keen to promote, link them to dedicated landing pages on your website with catchy calls to action and hey, presto! All of a sudden prospective patients are putty in your hands. They’re being hooked in social media, reeled in via your website and led directly to the final data capture when they make contact and book an appointment. And once they’re on your books, you can send them regular newsletters and e-shots advertising elective treatments they might be interested in, further boosting your bottom line.
Your ROI is exponentially increased the more you add to a well-designed, targeted and diverse marketing plan. So, while many dentists are afraid that marketing will be expensive, in reality a good business shouldn’t have any expenses – only investments. Anything you pay for should be expected to pay you a dividend sooner or later. And, of all your business investments, marketing (when done right) is the one where you should be able to see the clearest and most impressive return on investment (ROI).
At Milkshake Dental Marketing, we specifically design our practice marketing packages to maximise your ROI – so our services not only pay for themselves, but they pay more than most other investments. Curious? Get in touch!