Developing a Marketing Strategy for 2019

Part 3

By Kate Reid

In November, we talked about the importance of having a solid marketing plan for 2019. Then in January, we looked at an example goal of implementing a new website by December 2019. Now, we are ready to look at how to measure your return on the investment!

To measure the return on your investment, you need to know what the monetary value is for each patient that walks through the door. To get a ballpark idea, look at your total revenue for last year, divided by the number of patients you saw during that same time frame. It is not exact, but it will give you a rough estimate.

Based on that figure, how many new patients do you need to have generated from the website, in order to have that $10,000 initial investment paid for? The math is simple, but perhaps tracking those patients is a little trickier!

There are two ways you can track this. First, you can create a new referral in your practice management software called “internet” or “website” and then simply ask each new patient how they found you. Attaching the new referral called “internet” twill allow you to track those new patients just as you would for any other referral.

The second option is to use a call tracking system that puts a different phone number on your website to record the calls of new patients. You can listen to the calls and then cross reference the patient names with whether they came in for a consultation and/or surgery or not. Note: If you chose to go with this option, make sure you check your states’ laws regarding obtaining consent for call monitoring and recording! 

In both scenarios, having the patient names will allow you to calculate revenue generated from that patient which will then give you an “all-in” number (albeit, getting to that number may be somewhat laborious and time-consuming!). From there, you can evaluate whether the return on your investment was worth it.

There you have it! Setting a marketing goal for 2019 and working toward achieving it! Remember, having a patient-friendly website that optimizes in online searches, along with a strong social reputation online, is no longer an option – it is a requirement for new patients to make their way to your practice. What your marketing strategy was for the last 25 years, will not take you through the next 25 years!

If you are interested in learning more about how you can beef up your online presence, let us know!

Until next time, be well!

                                                    Kate

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