Orthotown June 2017 - 43
RETURN ON INVESTMENT
"Return on investment" compares money spent to business generated.
ROI =
(gain from investment - cost of investment)
cost of investment
Community activities and sponsorships are expensive and offer perhaps the lowest ROI.
Donations provide a reasonable ROI when the added benefit of a personal appearance
is included, and volunteerism of any kind is a bargain with high ROI at little or no cost, even
if it produces just one new patient. The lower the cost per new patient contact, the higher
the ROI of your marketing campaign.
12. Distribute a child's favorite
must-have: a rubber bracelet.
10. Invest in effective social
media, without ads.
After direct patient referrals, social media is the next-highest
referral source for new patients. Google, Yelp and Instagram
will continue to be effective outreach sources of new patients.
At very low cost, content and consistency produce results.
Hashtags of services, products and community and practice
names help customers find what they're looking for in their
search process.
11. For direct referrals, host a dental team
continuing education (CE) day.
Recently I took my 11-year-old son to New York for the
first time. As we walked past every gift shop and store, my
son wanted only one thing: colored rubber bracelets from
M&M's World. Get a
hefty supply of these
childhood charmers
imprinted with your office
name and phone number
and share the love.
Distribute several to every
child in your practice.
Give extras for friends,
Girl Scouts, birthday
parties and classrooms.
Bring them to health fairs
and Halloween events.
When kids are happy, moms are happy, and, in the words
of master marketer David Ogilvy, "The customer is your
wife." (Happy wife, happy life!)
Use your marketing to create loyalty and advocacy for
ultimate marketing funnel success. Happy marketing! ■
Hosting a community dental CE may be the
biggest bang for your buck when generating
direct referrals from dental colleagues. The
time and attention devoted to this event forces
orthodontists to give their dental community
direct attention for months up to the day of
the event. Announce your team day at least
seven months before show time and pick a
great dental speaker. Speaker-authored books
add to the excitement. Such an event can
increase production more than 100 percent
and keep you top of mind in your dental
community.
orthotown.com \\ JUNE 2017
43
http://www.orthotown.com
Table of Contents for the Digital Edition of Orthotown June 2017
Orthotown June 2017 - Cover1
Orthotown June 2017 - Cover2
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