Dental Marketing Budget

Hey, it’s Abdul Farooqi, your dental marketing expert here.  So let me tell you something.  You already have a dental marketing strategy whether you know it or not.  The fact is you already do. So would you rather have a marketing strategy which has not been systemized, which has not been planned, or would you rather have a clear path of where you would like to be; how you would like to position yourself, what type of messaging should come across to you prospective patients.  So think about that.  Have a clear dental strategy for your practice that is going to deliver enormous results.  Know what type of marketing budget you need to have.  A lot of people ask me what the marketing budget should be; but you need to understand one basic concept before you determine your own marketing strategy you should know it; and you should determine your marketing budget; and the way you determine that is by understanding the concept of average customer lifetime value.  How much is your patient worth or you?  On average for general dentist your patient lifetime would be approximately 3 – 5 years.  It might vary greatly based upon the type of practice you have, but let’s say on average you get a patient for up to 2 years.  Per year the patient brings in $1,000 worth of profit for you, so your average customer lifetime value is $2,000.  Once you know that amount – the average lifetime value, you can determine spend to acquire patient.  You can spend up to $1,999, I know that’s an extreme but you can do that and still be profitable towards the end of the day.  So once you have a clear understanding of average customer lifetime value you can strategically decide what type of marketing method would be the right way.  A lot of people just try out so many different methods, so many types of different strategy, so many types of different tactics, so many different types of messaging and they end up wasting so much money in just testing these different tactics.  Decide what type of marketing suits you; suits your personality.  We work with dentists specifically. We know exactly what it takes; we know everything can work very well.  With Facebook we can target people specifically based on demographics, interest, geography.  You can target people thirty miles, away ten miles away, using Facebook.  Facebook can be very effective.  Local search is very effective.  In fact we recommend that for everyone.  Direct mail can be every effective, but make sure you think very carefully about the person that you will like to do business with, the marketing company you decide to hire.  Make sure you hire a company that has worked with your field, has worked specifically with dentists before you allocate a budget, before you start to throw money away towards marketing.  So give us a call, give us a shout.  We specialize with dentists.   If you have any question we will be happy to help you out. Take care.