Setting goals and then measuring the results of the marketing efforts for your dental practice will lead to much better results, and hopefully the desired result. This marketing expert shares her expertise.
Measurement is important. Add more foam than steamed milk to your espresso and your latte becomes a cappuccino. Use one tablespoon of cayenne instead of one teaspoon and that dish turns Cajun. Implement dental marketing campaigns without measuring results and you waste valuable time and money. From a dental marketing perspective, not only does consistent measurement show you what is and is not resonating with your patients, it also allows for replication, which is key because who wants to recreate the wheel?
Let’s start at the beginning. Your goal will determine what you should measure and which metrics will give you the most value, so start by defining your goal. Do you want more new patients? If so, how many can you feasibly add each month? Do you want higher patient retention? If so, what percent is attainable? More revenue overall? Then which optional services should you promote? Do you want all of the above? While goals should be achievable, they should also require effort. (Think your first week back in the gym after a break.)
For the sake of this article, let’s say you’ve defined your goal. Congratulations! Now, how do you reach it? (You know you can’t get fit sitting at the juice bar.) This is where strategy enters the picture. The World Wide Web can be cloudier than 50 shades of gray, and without a clear strategy it’s easy for you to get lost in its vastness. Your practice’s marketing strategy is the roadmap that guides you to your intended destination.
An effective strategy incorporates multiple factors, including your goal and the cost-benefit ratio of associated marketing tactics. This essentially means that the cost of your marketing efforts shouldn’t be higher than the estimated lifetime value (LTV) of the patients those efforts will generate or retain. There are a few ways to determine a patient’s LTV. Here’s one example (calculations are for demonstrative purposes only):
What results does your campaign need to be successful? It’s crucial to know this information. Otherwise, it’s like filling cavities in the dark. You might get lucky, but chances are it will be bloody. Marketing is exciting and magical. You might be tempted to dive right in, but without clear goals it’s impossible to accurately gauge your ROI. And, like opening a bar tab on New Year’s Eve, it usually doesn’t end well. Whether you choose to outsource your online marketing or manage it in-house, it’s critical to understand and track the results of your efforts.
