How Do You Know if Your Marketing is Working? Ask any successful business owner about calculating the value of their investments and they will each tell you the same thing: analyze, analyze, and analyze. Depending on your unique marketing approach, determining the value of your strategies and adjusting them to fit your goals might seem overwhelming if you haven’t tried it before. Here are a few tips on calculating your return on investment, your new patient acquisition cost, and how to alter your methods to improve both. Tally It All Up Referral sources. Identify every single source in which you receive a new patient. Are they coming from your ad campaign, word-of-mouth referrals, or simply via your website contact form? Ask your patients. Train your team to ask every new patient how they found you before they schedule their first appointment. This way you can track failed appointment percentages per marketing method. For example, if you run a direct mailer and attract five new patients, but only one of them shows, then perhaps it’s time to re-evaluate. Delegate. By putting a team member in charge of calculating your new patient reports, you can assign them a monthly task to break down each referral source quantitatively and report back to you. New Patient Acquisition Cost Once your new patient numbers have been tallied for a given month, it’s time to take a look at your investment amount. Let’s consider an example in which your internet marketing costs $1000 each month, and you are receiving ten new patients per month because of it. That would mean that your new patient acquisition cost is $1000 / 10 = $100. Compare that to your direct mailer, which may be closer to $500 per new patient. Which one seems worth it? These numbers are crucial in determining the value of your marketing efforts, and will help you ensure your budget is allocated in the best way possible. Return on Investment (ROI) ROI is typically expressed as a percentage, comparing the profitability of a particular investment to its cost. To find yours, divide your net profit by your cost, and multiply by 100. For example, if your ten new patients from your internet marketing campaign ended up spending $15,000 over a six-month period, then that would mean ($15,000 / $6,000) x 100 = 250% ROI. For each dollar spent on your marketing, you’ve received two-and-a-half in return. This example of return on investment isn’t a pipedream, either. We’ve achieved returns for many dentists that were well beyond this. While calculating ROI can be helpful for some metrics, we believe the best way to visualize your success is to evaluate your campaign’s effectiveness based on the average cost to acquire a new patient. We find this easier to digest and can help you make your investment decisions with greater clarity. In addition, if we are able to bring your new patient acquisition cost down to $100 (or even $50) then we believe you’ll have no qualms about investing in your practice’s success. We can’t wait to hear your practice goals and help you achieve them. Schedule your complimentary marketing planning session with Identity Dental Marketing today.
Dental Marketing | Dental Curse Words Bedside manner is not a practice that applies only to doctors who work in a hospital. What you say around your dental patients is important. There are certain words that will instantly invoke fear in your patients on a psychological level. These words will make their visit less enjoyable and have them focusing on their fears versus the results of their treatment. Using these words in a conversation with a new patient can also discourage them from scheduling. No matter your type of practice, specialty or niche, your team should be warned against using the following words: 1. Drill – Instead say: “remove decay” 2. Probe/Probing – Instead say: “evaluate gums” or “complete examination” 3. Inject/Injection/Shot – Instead say: “provide anesthesia” or “numb” 4. Procedure – Instead say: “treatment” or “care” 5. Pain/Hurt – Instead say: “discomfort” 6. Rot/Rotted Out – Instead say: “infected area” 7. Needle – Instead say: “numb” 8. Pull the tooth – Instead say: “remove” 9. Incision – Instead say: “treat” (They often don’t want that many details) 10. Technical Jargon – Instead of “abutment” say, “neighboring tooth/teeth”. Using jargon confuses and frustrates the patient. Download these dental curse words and print them out for your team members. Learn how to take your dental office to the next level by schedule a complimentary marketing planning session today!
Dental Marketing | Turn Heads. Get Booked. Speaking and traveling can often leave you with little time to master your own marketing potential. Without a powerful campaign behind you, it can be difficult to achieve the exposure you need to get booked. That’s why we’ve prepared this quick guide to marketing yourself as a speaker. Why should you market yourself as a speaker? As a speaker, you understand that first impressions say a lot. By promoting yourself with strategic marketing, you can reach more meeting planners and significantly improve your speaking opportunities. Custom-branded social media marketing will help you cut through the static and establish yourself as a thought leader. With high-quality video marketing that features your professional advice and knowledge, you can position yourself as an expert in your field. Don’t settle for the occasional workshop or conference — your marketing can be be what pushes you into full-time success as a speaker. What are the elements of effective speaker marketing? Getting yourself booked should be at the forefront of your marketing goals, and this will cascade into every strategy you utilize. When meeting planners search for you, they should encounter a powerful presentation that highlights your unique value as a speaker. The best way to do this is with a sizzle reel — a short, engaging video that functions like a sales pitch for you. In addition, your website and social media marketing should feature testimonials praising you, your speaker packet, upcoming presentations, and should offer pertinent details about your speaking topics. Remember, branding legitimizes your entire experience as a speaker. You should aim for clever, innovative branding that communicates your unique style and proves your expertise. Are you serious and enriching? Are you interactive and entertaining? Without a logo, meeting planners will have no idea. Where should you start? Whether you are a full-time public speaker or you have just begun your journey, you have an important opportunity to grow. Make a name for yourself with our help. You will have access to our entire suite of professional marketing services, including a custom-designed sizzle reel and speaker packet, a beautiful, fully-responsive website, as well as in-depth branding consultations. In addition to creating a demand for your brand, our team utilizes data-driven methods and analytics in our internet marketing to bring you an impressive ROI. You’re the speaker. We’re the marketing experts. Let’s work together to get you booked. Contact Identity Dental Marketing today to schedule your complimentary marketing planning session.
Avoiding the Pitfalls of Unethical Marketing If it sounds too good to be true, then it usually is. Lately, we’ve noticed a couple of concerning and unethical sales tactics that have been hitting dentists pretty hard. Companies are taking initial marketing deposits, burning through them in a month, and then locking dentists into long-term contracts based on the initially impressive results. Learn how you can protect yourself from unethical marketing tactics like this in today’s blog. Unethical Tactic #1 In marketing, transparency is everything. Lately, we’ve noticed companies who are taking a couple thousand dollars for an initial marketing deposit and dumping it into short-term, unsustainable methods. This gets everyone excited when new leads begin showing up almost immediately. Using this tactic, they build your trust within a week or a month of impressive results, while spending your initial budget in one short pulse. Then, the company’s next move is to lock you into a long-term contract before this stream of leads fades away. Over time, the budget you’ve set for your marketing gets shifted to new clients, capturing them into this cycle while your ROI tanks. If a company was truly planning for your long-term practice growth, they would come up with a goal and a budget. They’d utilize strategies like re-targeting and a consistent, high-quality online presence on social media to lower your new patient acquisition cost over time. Unethical Tactic #2 Another one we’ve seen is the “no startup fees” offer. Instead of a deposit, you are instead forced to pay for your marketing over 36 months. Oftentimes, these companies may promise 20 or 30 leads in the beginning. But what is a lead in this case? Many of your prospective leads may turn out to be people who have searched for keywords like “free dentistry” and are expecting something entirely different than what you offer. This can waste your team’s time with failed conversions. You might be offered a free month to make up for lost potential, but what good is a free month that won’t help attract your ideal, new patients? Instead, this is how marketing is supposed to work. It’s 2019. Marketing technology has become much more refined and customized for your unique success. These days, tactics like re-targeting are crucial. Utilizing branded social media advertising and high-quality internet marketing, you will attract ideal patients into your funnel campaign, allowing you to stay in front of people who have expressed interest in you before. Effective marketing isn’t about cost. It’s about ROI and the value that it creates for your business. Instead, our approach is to communicate your true value, craft your branding strategically, and leverage quality, consistent marketing that attracts new patients who fit your practice philosophy. The longer you market, the better it works — not the other way around. If you are wondering what a truly effective marketing campaign looks like, we invite you to see for yourself. Schedule your complimentary marketing planning session with Identity Dental Marketing today.
9 Quick Tips For Your Facebook Success You’ve heard it dozens of times: as a business owner, you need to be on Facebook. In truth, this can feel confusing and frustrating to many dentists and doctors that simply do not have the time or desire to post photos or contribute online. Below are nine tips that will help you control your social media marketing without letting it control you. Plan your posts. Delegate this to a team member and allow them to show you their custom content for approval before it goes live. Keep it real. Ensure your social media content is relatable. Don’t always post professional headshots for day-to-day material. Try to snap a photo or two of your team while they smile at work. Keep it happy! Post about birthdays and work anniversaries, or even fun facts about your team. This helps patients feel like they know you better and builds their loyalty. Try to avoid negativity when possible. Post patient videos. Patient testimonials are a fantastic way to get positive attention. Incentivize your patients to post their stories, and make sure they tag your office. Make it a game! Have fun with your Facebook experience by running contests for likes, shares and reviews. Engage and reward your team and patients. We also recommend quarterly campaigns to build viral exposure online by donating to charities or highlighting a time-sensitive offer. Leverage live video. Facebook Live is an incredible resource. Let a team member interview you live. Don’t forget to engage with viewers who are watching in real time! Join local groups. Parents often ask health-related questions on forums and look for the opinions of their trusted friends online. Build relationships with your community by posting regularly in local groups. Advertise. Paid campaigns are just as important as organic clicks. Our team can help you set up campaigns to reach the best market for your individual practice goals. Just do it. Even if every post isn’t ground-breaking news, stay active online. Post at least once a week. This helps to show search engines like Google that your business is both real and actively engaging. This also contributes to your search rankings when paired with an optimized website and SEO campaign. If you have questions about improving your social media marketing, we invite you to reach out to our team at Identity Dental Marketing. Schedule a complimentary marketing planning session with us today.
What are the Rules of the Road for Dental Marketing? As a dentist, placing a dental implant or providing an oral cancer exam may come to you as naturally as the mindless act of driving to work. However, getting down to the nuts and bolts of marketing your practice can be difficult, or downright confusing. Thankfully, we’ve prepared a powerful resource that breaks down exactly what you need to hit the gas on practice growth. We’ve called our eBook “Rules of the Road: Your Dental Marketing Roadmap,” and the exciting news is that it is entirely free. Attract your ideal new patients. Discover exclusive strategies that allow you to reach your potential patients through innovative marketing efforts. Maximize your marketing ROI. Learn which marketing strategies to implement, and when, for optimal results. Create a demand for your brand. Design the logo of your dreams by following our art and branding expertise. In “Rules of the Road: Your Dental Marketing Roadmap,” you will learn tips and tricks from our own playbook to help drive you ahead as a dental entrepreneur. Click here to download your FREE copy of our Dental Marketing eBook. Remember, marketing your practice without tracking your results and adjusting your strategies is like throwing a bundle of money at a campfire. If you aren’t sure where to start, let us help. Schedule a complimentary marketing planning session with us today.
Dental Marketing | Become the Dental Expert You Already Are Did you know that periodontal disease may put you at risk for developing Alzheimer’s disease? Your patients might not. According to recent research published in the Journal of Alzheimer’s Disease, the bacteria Porphyromonas gingivalis spread to the brains of mice who suffer from gum disease. In fact, researchers recently began trials on a vaccine for P. gingivalis, which could potentially reduce or even eliminate Alzheimer’s, if the link between them proves to be true. How can you utilize developing research like this to set yourself ahead as a dentist? Position yourself as an expert. As a dentist, you have accumulated a massive wealth of knowledge — and not just in dentistry. Why don’t you share it, to both you and your patients’ benefit? By taking the opportunity to educate your patients on recent advancements in technology, oral health care, or even their overall well-being, you will grant credibility to your dentistry and build meaningful connections with your community. When your potential patients can clearly see your commitment to their oral health and their actual lives, they won’t forget you. In fact, they’ll choose you, based on your expertise, your compassion, and your dedication to their care. One question remains: how can you implement patient education into your marketing strategy? Remember, we can help. Recently, we’ve been inspired by this unchecked potential for growth and patient education that we’ve discovered across dentistry. That’s why we’ve designed a powerful, new marketing approach that we’ve called the 52 Week Video Marketing Series. Following our step-by-step guide, you can record your very own video marketing series that engages your community and positions you as the expert on all things dental. Once you’ve used our engaging written prompts to create impactful, educational video content for patients, we will optimize and schedule your video posts to ensure you receive maximum exposure. You will have the chance to empower your community with news and advice on their oral health that can potentially improve or even save their lives. If you are ready to position yourself as a dental expert across your marketing efforts, we invite you to reach out to us. Schedule a complimentary marketing planning session with Identity Dental Marketing today.
Marketing for Dentists | How Do You Set Your Practice Apart? Why should patients choose you over other doctors in your area? If you can’t answer this question, then it’s time to take a moment and rethink your marketing strategy. Your answer is what we call your Unique Selling Proposition, or USP. As a dentist, your USP needs to be the foundation of your entire branding and marketing strategies. For example: if you believe that your strength as a dentist is your caring, compassionate focus, then every element of your marketing campaign needs to feature this. Your logo and branding should evoke feelings of comfortable, pleasant care. Your website should feature your personal dedication to your patients’ wellbeing. Your ad campaign should utilize non-judgmental messaging that shows you are committed to patients, not profits. By unifying the internal message of your logo, your website, your advertising, and the rest of your marketing efforts, you will bring consistency to your branding and allow your practice to truly grow. What strategies work for your Unique Selling Proposition? Every dentist and every practice is different. The best way to learn which marketing strategies work for you is to meet with our team of experts at Identity Dental Marketing. However, here are a few suggestions to begin building the foundation of your branding and marketing: Are you the type of dentist who is heavily engaged in your community? Bring your branding home. By implementing recognizable elements of your town, district, or neighborhood, you can build credibility with those around you. Look at the ways in which your community engages — local culture, history, and geography are all great places to start. Are you a doctor who loves to connect with patients by taking the time to learn about their ongoing lives outside of their appointments? Consider utilizing video marketing that features you and your personality. You can use your personalized videos to welcome patients to your homepage, as well as to establish a powerful presence across social media marketing. Hint: ask about our 52 Week Video Marketing Series. Do you pride yourself on the beautiful smiles and improved confidence that you create on a daily basis? Emphasize the life-changing effects that your dental team can bring patients. Feature before-and-after photos on your social media and your website. Develop branding that is sharp, modern, and unique. If your patients witness how they can achieve the same results that others have, they will be more inclined to make that first appointment. No matter what your team excels at, you have a Unique Selling Proposition that is your gateway to effective branding. If you have questions on how to market your practice with your strengths in mind, reach out to our team at Identity Dental Marketing. Schedule a complimentary marketing planning session with us today.
Dental Marketing | The Power of Instagram Did you know there are over one billion active users on Instagram? Learn about the Power of Instagram in our latest infographic. Contact our team to learn more!
MDO: The Best of Both Worlds Scaling Quality Care with the Multi-Doctor Owned Model The MDO (Multi-Doctor Owned) Dental Business Model allows for business minded dentists to provide high quality care while scaling to multiple locations or accommodating multiple providers. Leading a privately owned dental practice while being the primary provider of care can limit growth potential and leave the dentist feeling overworked, undervalued and counting down to retirement. Conversely, building or joining a DSO can limit the dentist’s ability to maintain complete ownership of the practice and any decisions made regarding patient care. The MDO model is a new, ideal option appealing to many private practice owners and associates. In short, it allows for patient centered care and unlimited growth potential — the best of both worlds. Interested in learning about a new way to get more from your profession, while giving more to your community? Enjoy this helpful guide. It could potentially change your career path for the better. Sincerely, Grace Rizza & Bonnie Hixson Dental Business Leaders What is an MDO? MDO is a Multi-Dentist Owned or Multi-Doctor Owned Practice Model. This key element to the MDO model is that it allows for utilization of the benefits of both private practices and Dental Service Organizations (DSOs). An MDO is most often comprised of multiple doctors and multiple locations. However, the distinct mark of an MDO is that it is 100% owned and financed by the dentists who maintain 100% control over decision-making in the business and in patient care philosophy. With proper guidance from the MDO Advisory Team, an MDO will achieve moderate to rapid growth (typically expanding one to four locations per year, as desired) while preserving a high level of ethics in the dental profession. The MDO model is financed by dentists who purchase equity in the dental business. When this transaction occurs, it allows for the financial liquidity necessary for expansion. This growth is often supplemented by loans. The success of an MDO relies on effective marketing, hiring, business and clinical training of providers, as well as clearly set goals, well-defined core values, and in most cases, the support of MDO Advisors. What Makes an MDO Different? As an MDO owner, you will be able to provide high-level care, while enjoying the financial benefits of a scaling business. Partners and associate doctors play a crucial role in the success of your MDO. Recruiting, training and communicating with your MDO team will become your main functionality. Unlike in a privately owned practice, practicing clinical dentistry will not be your primary concern as your business scales. Unlike in the DSO model, you will not have individual investors to accommodate. MDOs and Independent or Private Practices The MDO is built with scalability in mind, setting itself apart from privately owned practices. As the founder of an MDO, you will have the freedom to seek the business growth you desire while keeping your dedication to patient care the main focus. By developing and implementing systems for training and accountability, an MDO is able to provide high quality, patient-centered care without compromise. MDOs and DSOs Because DSOs are typically funded and ran by investors who are neither doctors nor dentists, their organizations’ goals can sometimes diverge from the community-centric vision that small businesses strive for. An MDO, however, operates with a core set of values, goals, and accountability that allows your team to ensure your patients are receiving the care they need with their wellbeing in mind. Transitioning from an Independent Model to an MDO The first step in transitioning to the MDO Practice Model is to consider a growth plan. For instance, if your goal is to have three locations in three years, you’ll need to understand the time and financial commitment involved and plan accordingly. You may choose to involve a partner early on in the process, even before establishing your first location. If you’re already in practice and looking to expand, your first step will be to vet an associate who possesses strong leadership skills and a desire for ownership. This associate will be given a projected timeline for ownership. For the right fit candidate, an opportunity to invest in the business for equity will be presented within a given timeline. Learning how to attract the right partner, structure agreements and create necessary growth to allow for a painless transition is often simplified when working with the MDO Advisory Team. Once acquiring the right doctor, you’ll be able to partner in purchasing or opening your next location. As you create a demand for your services and business together, you’ll be able to attract a third partner, who in time will buy into the business and allow you to expand once again. It seems like a simple process. However, any business owner knows that hiring, marketing, legal, accounting, system implementations and team training are best led by professionals in each of these specialty departments. We’ve brought together top advisors with experience in all structures of ownership to assist in guiding you through this process. By working with the MDO Advisory Team, you’ll find no question left unanswered and you’ll have the guidance to avoid costly mistakes made by those less fortunate dental business owners. The Future of Dentistry The state of dentistry is evolving on a constant basis. As corporate dental entities expand, the gap between small private practices and large dental conglomerates expands. With unshakable core values and the capital necessary to grow, you are able to offer dental care that is both convenient and high quality for your patients. MDO owners have the ability to dedicate more time to the business structure, model, functions and growth, allowing them to progress beyond a sole focus in clinical excellence and into a leadership role. MDO owners will find great joy in being able to serve more patients in less time as they leverage the power of a strong, cohesive team. Is the MDO model right for you? Disclaimer: The MDO model is not for everyone. However, developing MDO ownership will position you for incredible growth — both personally and professionally. You will: Become a leader who expands opportunity for other like-minded dental professionals Reinvigorate your dental career Grow your business ethically Offer more hours to patients without working more hours in your practice Have resources to maximize your growth potential in a legal, ethical and effective way Adopt a strong leadership role within your organization Enjoy more time and financial freedom If you are ready to elevate the care you provide to patients while growing your business with pride in your ethics, then the MDO model is right for you. In addition, new, middle-career, and doctors approaching retirement years will each see value in the MDO model. How can a new doctor with limited funds create an MDO? As a new doctor, our suggestion for creating an MDO is to find an established practice. By either buying into the practice or purchasing it outright, you can build an incredible foundation for your future in success. With all things, consider your vision and personal goals. Start here and connect with experts in the field by reaching out to the MDO Advisory Team for guidance. How can an established owner doctor create an MDO? For doctors in the middle of their careers, you have many strategies available for creating an MDO. Look for a new provider who brings like-minded, empowering solutions to your practice, or strategically choose a second location to purchase or start. Just remember: hiring, marketing, technology and system implementation will prove to be your most important elements moving forward. How can a doctor facing retirement utilize an MDO model to work less and create the ideal lasting legacy? If you are facing retirement, forming an MDO can be a powerful, rewarding decision. By taking a management or leadership role in your business, you can afford to be more selective about when and where you practice dentistry. This can provide you with a profitable, flexible way to transition into retirement and leave behind an impressive legacy. Marketing Your MDO While every MDO holds a similar respect for ethical growth and a patient-centered focus, every business is different. Your unique branding is incredibly important to distinguish and elevate you as an MDO. As an owner of an MDO, you can choose to co-brand your practices, or brand them individually. Co-Branding When you choose to create and implement unified branding across your MDO, you are creating massive potential for consistency in your marketing. This ensures that anyone who reads about, follows, or receives care from your team will recognize one of your locations or providers as having the same values and attention to quality care as the rest. With this decision, you might also lessen the costs of marketing or branding by utilizing a singular branding initiative. Co-branding is not without its downsides, however. By adopting a unified brand across locations and providers, you also lose the individual feel for each of them. This can be a worthy trade-off, but it depends on your unique goals and interests as a business. Individual Branding For individual branding, the benefits and drawbacks are similar, but opposite. Building up the branding and marketing for each of your providers or locations will bring individuality and personality to the table. You also diversify the approaches you take toward your community. Perhaps one of your locations is more geared toward family dentistry while another is dental spa. Individual branding may also feel limiting to some degree. If your MDO is comprised of several locations, each branded separately, this can lead patients to believe there is little connection between them. While you know that your core values are conserved across your MDO, your community may not see or understand this. In general, branding can be a complicated decision to take on alone. Knowing this, we are willing to share our expertise. If you have questions about how to brand your MDO, don’t hesitate to reach out to the MDO Advisory Team. MDO Q & A Are you interested in developing an MDO but unsure of the details? Read our Q & A to help familiarize yourself with your unique needs. Can my MDO be in- or out-of-network with PPOs? MDOs have the flexibility to offer both. We advise evaluating and negotiating fee schedules for your individual group. How can I finance my MDO? When you are developing an MDO, you have several options for financing. Focus profits from your existing practice into new growth Utilize business loans Invite an associate to buy into your practice Draw from personal savings What kind of technology will allow my MDO to have a competitive advantage over DSOs and private practices? Technology is a crucial element in maximizing the efforts of your team and the quality of your care. There are several aspects you should consider: Practice management software Appointment reminders Review generation systems Consistent reporting to ensure growth and accountability Effective cross-training If you are unsure where to start, reach out to the MDO Advisory Team. How can I acquire the right team members to accommodate growth for my MDO? As with any business, hiring an effective, powerful team is imperative to your growth. Strategically choose your team members with an emphasis on achieving the core values of your MDO. Those able to aid with internal marketing will be a strong fit for your team. How can my MDO save money and increase profit margins without hurting patient care? With shared resources and training, your MDO can boost profitability while maintaining high quality patient care. Your MDO can achieve this by implementing several effective business decisions, including: Centralized scheduling Group buying power Systemized care and processes Core value training Consistency in marketing across the entire group A single marketing director for centralized oversight Any other questions? Please reach out to us. We would love to hear your unique goals and help you develop a plan to build, market, and grow your MDO with confidence. MDO: The Best of Both Worlds Thank you! We hope you enjoyed reading our guide on mastering the MDO practice model. If you’d like to schedule a complimentary marketing planning session with us, please visit meetme.so/grace or call us at (847) 629-4646. We can’t wait to help you build the business of your dreams.
