Thanks for checking out our 6-part series where we’re “busting” some of the most common dental marketing myths we’ve dealt with over the years.
If you missed the first four installments, you can check them out by clicking on the links below.
Myth #5: A small dental marketing budget goes a long way
This particular myth can feel a little awkward to address because it revolves around dollar signs. Anyone out there uncomfortable talking about budgets and spending?
We completely understand...however, we have to push past it because the myth that “a small marketing budget can go a long way” sets so many dentists up to fail with false expectations.
Investing more financial resources is often the hardest pill to swallow for new clients. Marketing is one place in the budget that dentists want to try to cut and it just doesn't work.
You can't hope to expand from one practice into multiple locations or to add new associates in a competitive market like dentistry without spending enough to attract the patients you need.
However, some practices might be able to get away with a smaller marketing budget if they are one of only 2 dental practices in their town.
But, as we see year after year, dentistry is becoming increasingly competitive and the story we hear from our clients is that there seems to be a dental practice on every corner.
Try to look at your dental marketing budget in a different way. Just like with any other investment, your financial buy-in must be proportional to:
- The goals you hope to achieve,
- The level of aggressiveness you wish to put forth in attaining those goals; and
- The obstacles you will undoubtedly face along the way.
Think about it this way: as a dentist, what do you tell your patients who may be considering cheaper dental implants or going to an unskilled doctor for a less expensive root canal?
You would highly advise against it, not only because you want the business and revenue, but because you care about the safety and oral health of your patients!
You don’t want to send them to a bargain-bin alternative, because – as with most things – you truly do get what you pay for.
Does digital marketing have to cripple you financially?
Of course not and it shouldn't!
Keep in mind that a bigger budget is sometimes necessary if you hope to overtake all obstacles in a highly-competitive market.
The only caveat is that you must know what you are doing, otherwise you risk wasting money on marketing efforts that won't pay off.
Free techniques can yield some results, but the right amount of capital focused in the right directions can yield 8 to 10 times greater results for your dental practice.
The trick is to plan your marketing investment properly so that you achieve a healthy return.