Move Your Marketing To A Revenue-Generating Line Item!
By Wayne Lavery | September 10, 2017
Thriving dental offices understand the importance of marketing, whether it be offline (direct mail, print ads, etc.) or online (web, social media, mobile, etc.). The challenge has always been finding ways to prove the value of your marketing efforts. By nature, marketing efforts are difficult to track and some activities like awareness-building, retention, and branding will never provide a direct link to revenue, but they are essential to building your brand and neighborhood awareness.
Conversely, marketing tactics and channels like lead generation and targeted advertising definitely drive revenue. Even when you allocate new patients to specific marketing campaigns and document revenue, ROI is often still a challenge.
Fortunately, Business Intelligence (BI) tools can bring clarity. BI tools, like the Patient News’ Marketing Performance Dashboard (MPD), provide structure to data and consolidate it into a logical understandable format from which you and our team can make educated decisions to guide marketing initiatives and channel (offline or online) choice.
How do you access the consolidated marketing metrics that help you identify changes to specific marketing campaigns that need to be done? First off, make sure your dental marketing company provides BI tools that provide decision-making ability.
Five years ago, our information technology (IT) team consisted of internal network support and 1 developer. Heading into 2018, we now have a Rockstar Chief Technology Officer (CTO), Michael Issaev, who leads a development team of 7, including internal support. This experienced team allows our Account Managers to quickly access the reality of your marketing results from a data-driven viewpoint. They can adjust strategy and tactics clearly and access campaign ROI and value.
The great thing is that we provide all this business intelligence at no-charge for our clients. This means you can understand the data from multiple marketing campaigns and move from an expense line on your P&L to a revenue generating line item.
Our development team, lead by Michael, is constantly researching and developing our key performance indicators (KPI) dashboards. In 2018, we will be launching expanded data on revenue streams, patient profile, demographic and geographic information, and online behavior.
So, the next time you’re sourcing a dental marketing company, ask the question, “Tell me about your Business Intelligence capabilities and development team.” You may be surprised by the answers you get. At Patient News, our marketing processes have always been at the top of the dental marketing industry. Our Business Intelligence will now lead the way as well.