Repeat After Me…Marketing is an Investment, Not an Expense
As the seasons are changing, we typically talk to a lot more dentists at this time of year. They’re thinking about either starting some marketing or making some changes to what they have been doing. What it often comes down to is, they realize they’re not hitting their goals and need to do something about it.
The thought of marketing is pretty scary for some dentists. Some have never spent money on marketing. Or, they may have tried a few disjointed things here and there and didn’t get results. Or, they’ve never done any type of marketing because they were able to rely on a pretty steady stream of new patients that has slowly dwindled down to a mere trickle.
With dentists who have never spent money on marketing, sticker shock usually follows. They hadn’t really thought about the cost of marketing. For those who had done a variety of “one-off” marketing, usually, the money that was spent didn’t result in a return. Now they are skeptical and hesitant to dump more money into another marketing “idea.”
Sometimes there is nothing I can do to convince doctors that marketing is a measurable investment that yields a return and not an expense like equipment or office furniture. As an example, we are getting annual ROIs of 600-1200%. (Try getting that kind of return on any other investment.)
The thing is, marketing has to be managed, coordinated, tracked and measured. When you’re managing your marketing and watching your numbers, magical things happen. What you focus on expands. Information is power. When you have the right information you can make smart decisions versus “educated” guesses.
Perhaps you are thinking of taking the marketing plunge or looking to change up what you are doing. Our approach is to be as systematic as possible, focusing on the things that are foundational and cost the least amount to start off, and investing more into other initiatives as production and new patient numbers rise; the whole time, monitoring what is happening. This is the smart way to do marketing, and it works.
We’d love the opportunity to work for you and grow your practice in 2018 and beyond. Schedule your complimentary 15-minute chat with me.