Just bought a practice? Planning to buy one soon? Luc highlights the importance of a marketing plan and explains why ‘budget marketing’ isn’t going to cut it.
Luc Wade blogs:
With more and more dental practices valued in excess of £1 million these days, it’s more important than ever to hit the ground running and increase revenue from the outset.
In fact, your lender will expect to see a line for “marketing” in your business plan and they will factor it into their lending decision process.
So with growth paramount, you’ll need a well thought out marketing strategy to succeed.
Two of the most important areas to consider are:
- Increasing average patient value
- Increasing new patient numbers
If you simply plan to rely on word of mouth and an old website, inherited from the previous owner, you will likely suffer from poor new patient numbers.
A well thought out marketing program can drive between 40 and 100 new private patients a month into your practice.
In order to do this properly you will need to understand and master:
- Internal Referral Systems
- Assess your Corporate Image, Brand Positioning and Kerb Appeal
- Understand the Digital Environment
- Use Traditional Media
- Review your Engagement Protocol
Lack of a robust and compelling growth plan and without the resources to execute it well will hinder your progress.
If you would like some help building your marketing program please get in touch for a free chat on 01872 300232 or email us at hello@hivebusiness.co.uk.
