Archive for June, 2015

Are dentists doing enough marketing?

The answer is, many or even most, are not.

With businesses that are classed as SMEs (small & medium-sized enterprises with up to 250 employees), research shows that investment in marketing is often too low and that this hinders growth. Private and ‘mixed’ practices without NHS contracts fit into this category.

Here are some facts about SMEs:

SMEs report that they could raise sales by an average of 15% if they maximise the impact of their marketing effort

The average SME only achieves 39% of their planned marketing activity 

11% do NONE of their planned marketing

1/3 rate their marketing efforts at under 5 out of 10 yet 77% recognise it is important to the success of their business

Reasons for not doing enough marketing: 36% say there isn’t enough money, 21% there isn’t enough time

The average SME spends £23,810 a year on marketing

Every £1 spent on advertising benefits an SME 8 times as much as it would a larger firm

Of course, it’s not solely about making a larger investment to help build a dental business. It’s about spending it wisely through careful marketing planning and avoiding costly mistakes.

For a no-obligation chat about your objectives contact us on 0845 287 3051 for a free initial consultation.

Sources: Centre for Economics and Business Research (CEBR) Advertising Association

Tags: , , , ,