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.
