Are marketing budgets now out of date?

Private dental practices, like many types of business, have traditionally set a marketing budget for say 12 months, if they have money reserved for patient recruitment and internal marketing at all.  But putting a sum aside for marketing is really coming at it from the wrong starting point. The starting point is looking at the notion of buying patients.

The key question is: “how much am I prepared to pay for a new patient?”. If it’s a dental implant case worth say £2k, are you prepared to pay £100 for that patient, or £200 or £250?  For general patients, who start with a £50 or £75 consultation and then go on to become a regular over 3 – 5 years, what are those patients worth to you and how much are you prepared to invest in each one?

The point of this is that once you have worked out those numbers, it’s easier to determine the best strategies for finding those patients, the media to use and the return on investment to plan for. And as new patients or referrals come into your practice, you can decide whether to increase or decrease the numbers of patients you are buying.

With this change in mindset, there’s a much clearer focus on what you are looking to achieve from any marketing investment and really helps practices to avoid making costly mistakes.

If this approach appeals to you, contact us for an initial chat about finding more patients for your practice.