Dental Marketing Meets the Holiday Season

Scrooge Misses Out on Valuable Marketing Opportunities

Merry Christmas, folks! This week I thought I’d review how some dentists take advantage of the dental practice marketing opportunities presented by the holiday season.

Holiday Shopping… At the Dentist’s Office?!?

Just because you’re not a retail store doesn’t mean you can’t cash in on Christmas spending! One Ohio dentist is doing just that. Dr. Mindy Munowitz is selling what she calls “Holiday Sparkle Packages” that patients can purchase as gifts for friends and family. (Read more)

Zoom tooth whitening treatment is a part of each “pamper-me” package, but that’s not all. Recipients also get gift certificates for massages and facials. It’s a great way to make a profit off of today’s spa dentistry trends!

Secret Holiday Marketing Weapon: Christmas Lights!

Holiday lights are a great way to draw attention to your building! The photo you see here is of Lake Texoma Dental Care in Denison, Texas. Each year, Dr. Stephen McAnaney makes sure his practice gets noticed by the community. He hires a professional lighting company to decorate the office building with a sophisticated display that not only looks great but also generates new patients. Together, the decorated office and the sign really make a strong impact that says this dental practice is truly bringing the holiday spirit to the community. It also drives home the point that this dental office is warm, sophisticated and probably a great place to receive your dental care. (Read more)

Let’s look at the return on this investment – remember, ROI is a great way to make business decisions! Your first year is an investment; the initial cost of lights will likely range from about $750 to $2,000, depending on the size of your building and types of lights you use. Plan on another $1,000 each year for professionals to hang and later take down your lights. (Unless you’d rather risk breaking your own neck up on the roof?)

How much money does a single new patient bring in? I figure that the average net contribution to the bottom line for an additional new patient, after all the costs of delivering the dentistry, is going to be at least $500, and quite possibly much more. By this math, you would only need six new patients to pay for this the first year and just two additional new patients in succeeding years.

Free Advertising: The Price Is Definitely Right

One IDA dentist has been working hard to use the marketing know-how he’s picked up from The Wealthy Dentist to pick up new patients and increase name recognition of his practice. Dr. Jeff Clay of Shady Spring, West Virginia, teamed up with a local radio station to offer a holiday dental giveaway.

Listeners are invited to enter on the radio’s website (where there’s a prominent link to Dr. Clay’s IDA site, of course!). Visitors get to vote on which candidate needs dental work the most, and the winner will receive up to $2,000 in free dental work from Dr. Clay’s practice. In return for providing free care, the radio station is airing 100 60-second contest promos and another 100 five-second spots – that’s a $2400 advertising value! How brilliant is Dr. Clay’s strategy? Remember, there are more ways to pay for advertising than with money alone! (Listen to the radio ad)

Your Next Chance: New Years’ Marketing

By now it’s a little late for you to launch a Christmas marketing campaign – but not to worry, New Year’s is right around the corner! You can bet that lots of patients will be resolving to finally get the dental treatment they need. Plus, it’s a great time to market yourself to insurance patients whose benefits are renewed with the new year.

Dental Marketing: $151,200 with Google Offers and Groupon

This is the final article in our dental marketing series on Internet dental coupon marketing.  Today we boil it all down to just how profitable this new dental marketing vector can be.

First, let’s start with a quick review of the offer and the results:

1. The basic offer — $59 for a $421 dental package.
2. That’s an 85% savings to consumers who buy within the allotted time.
3. The purchase window was 23 hours.
4. The number of offers (dental packages) available was 300.
5. The number of packages sold was 51 — or 17% of the available offers.
6. Total dollars grossed in the test was $3,009, which was split evenly — $1,504 each for Mt. Tabor Dental and Google.

(Click here to view the full ad)

What’s important to note in the results above are that 51 packages were sold for a gross income to Mt. Tabor Dental of $1,504. On the surface, this tells us that the practice now has about $29.50 available to service each of 51 new patients.

However, what most people don’t realize is the concept of “Breakage.

Not all the coupons will be redeemed with the allotted time period. The reality is that people forget to use their coupons, and breakage can run from 30% to 50%. Meanwhile the practice is using the cash immediately. (This is the same game that American Express has been playing with Traveler’s Checks for the last 60 years.)

I think we can safely assume a 30% breakage rate. This turns our 51 packages purchased to just 36, giving $41.77 to cover the service cost of each patient. Now most of you are now trying to calculate how much money you are going to lose on each of these new patients when you only have $41.77 to deliver an exam, X-rays and a bite-and-boil home tooth whitening kit.

Don’t bother!

The reality is that Mt. Tabor Dental has now identified 51 potential new patients who are willing to pay $59 each.

The average new patient in the US is worth about $975 in gross production in the first nine months of treatment. Take out delivery cost of 10%, 4% collections loss and 9% universal expenses (cotton balls) and your net marginal profit is about $750. Knock off another $50 to cover any additional initial delivery costs and you end up with $700 per patient in your pocket.

Assuming a 30% breakage loss on coupon utilization, you net 36 new patients at $700 net each for a total of $25,200. For those real pessimists in the crowd who will say that half of those bottom-feeding coupon patients won’t accept your treatment plan and stay for at least nine months, well ok, you just made $12,600.

Now do you see any good reason why you wouldn’t run this or a similar Internet coupon ad with Google or Groupon every month for the next year?

Think about a possible $151,200 net to your bottom line over the next 21 months…

16 Percent of Dentists Do Not Have A Dental Website

dental websitesWhen dentists consider building a dental website they tend to think in terms of one massive site instead of several websites covering their areas of expertise. Having a multiple website marketing strategy can help you dominate search in your geographic area.

In our most recent survey, we asked dentists if their dental practice has multiple websites.

More than half (58%) said they have only one website. 15% replied that they have at least two dental websites, while another 11% have at least three. Urban and suburban dentists were more likely to have more than one dental website.

Shockingly, 16% of the survey respondents did not have a dental website at all.

Here are a few of the things our dentists had to say on the subject —

“We have dental website that we can change the content ourselves without paying the webhost and we have an optimized site that draws much more traffic.” (California dentist)

“We have 2 dental websites – 1 through your company [Internet Dental Alliance] which we are very pleased with and another through another company which I am very disappointed with and have switched companies 2 times and still am not getting what I want.” (Georgia dentist)

“We have multiple web addresses linked to one website.” (New York dentist)

“We just stated with second dental website — thought it would help.” (Pennsylvania dentist)

“We have only one website, but we have a Facebook Page also.” (Washington dentist)

Dental market domination should always the goal of your dental website. Instead of the traditional, one website approach, here at The Wealthy Dentist we believe in having several specialty-specific dental websites that support certain search phrases in addition to the dental website you may already own.

Having multiple dental websites helps you casts a wider reach across the top search results for your services as well as your dental practice itself. Multiple dental websites simply hedges your search position for a large set of dental keyword phrases creating a market monopoly strategy for a dental practice.

Multiple dental website marketing has all the features of search engine optimization and Internet dental marketing, but is easier to manage, more cost effective in the long run, and in many cases dramatically better at building targeted dental patient traffic.

What is your dental website marketing strategy?

Top 10 Dental Marketing Articles from The Wealthy Dentist

Top 10 Dental Marketing Articles from The Wealthy DentistDental marketing is essential to the success of a dental practice and dental marketing is on the minds of many dentists as 2011 draws to a close.

Dental practice marketing can be one of the dentists’ greatest challenges and in the current volatile economy — greater even than running a dental practice and managing a dental staff.

The Wealthy Dentist has compiled our top 10 dental marketing articles to help dentists boost their dental profits in 2012.

Top 10 Dental Marketing Articles from The Wealthy Dentist

1. Dental Marketing: 7 Ways To Turn Your Dental Office Into a Hot Marketing Machine
Dental marketing is more than just a geo-targeted, search engine optimized dental website and an effective email newsletter marketing plan. It also involves branding and an effective dental office display…[Read more]

2. Dental Marketing: A Guide for Avoiding Negative Online Reviews
In customer service it used to be said that an unhappy customer would tell nine to fifteen other people about their negative opinions. Today an unhappy dental patient can influence hundreds of people by leaving a negative review on an online review website… [Read more]

3. Dental Marketing with Google Offers
Who in their right mind wouldn’t want $421 dental package with exam, X-ray and take home whitening for life for just $59! I’d sign up personally if I lived in Portland. This is exceptionally great marketing title that grabs the most jaded consumer by the throat…[Read more]

4. Dental Marketing: Google Offers vs. Groupon
Not long ago Google tried to buy Groupon for something like 6 billion dollars. Groupon turned the offer down. Within a month Google started Google Offers. Mike Blumenthal’s blog reviewed the early test results on Google Offers for the local Portland beta test…[Read more]

5. Dental Marketing: Geo-targeted Local Search Strategies
According to Google, 97% of consumers search for local businesses online. A geo-targeted local search strategy makes it easier for your dental practice’s prospective new patients to find your dental website and your practice. But what exactly is geo-targeted local search? …[Read more]

6. The Essentials of Dental Patient Marketing: Dental Office Presentation
Marketing your practice through a powerful dental office presentation strengthens your identity, reminds people of your dental practice and is simply good business. Dental practice marketing may seem — to the dentist —like an overwhelming task…[Read more]

7. 5 Simple Online Marketing Strategies for Dentists
The right Internet dental marketing strategies have been proven to grow a dental practice and attract new patients. With over 5,000,000 searches for “dentist” online, it’s now more important than ever to have a viable web presence…[Read more]

8. Dental Marketing: How to Set Up a Google+ Dental Practice Page
Google has launched Google Plus For Business which now allows dentists to create a Google Plus Page for your dental marketing. Google Plus For Business is a set of tools that can help you grow your dental practice and enhance your dental marketing efforts…[Read more]

9. Dental Marketing on the Internet: What is the Value?
Social media has joined the Internet dental marketing toolbox along with multiple targeted websites and directory listings that are now required for maximizing new patient flow. Dentists measure many things in order to determine if their actions justify the cost…[Read more]

10. Dental Marketing: A Doctor and His Dog
As much as many of you would like to think that you should be drawing patients from across the country with your marketing, the truth is that the average urban/suburban dental practice draws close to 90% of its new patients from within a geographic circle of 6 to 8 miles…[Read more]

The Wealthy Dentist keeps its word. Since 1985 Jim Du Molin has been giving no-hype dental marketing and practice management information that can help dentists attract more patients and better run their practice.

Dental Marketing: Some Straight Talk About Google Plus

Dental Marketing: Some Straight Talk About Google PlusMore than ever, your dental marketing plan needs to include Google Plus.

The new Search Plus Your World algorithm seems to be leading to continued consumer adoption of the top brands on Google+.

Digital marketing agency BrightEdge Technologies is reporting that the top 100 brands on Google+ have grown by over 1,400% in the past month.

The number of people including the top 100 brands in their circles went from 222,000 to over 3.1 million. The majority of the expansion was limited to the top 10 brands on Google+, which taken together account for over three million users.

Google CEO Larry Page estimates Google+’s general user base at 90 million. Some reports say Google+ users are predominately male and account for approximately 67% of Google+ users.

Google recently announced its plan to link user data across its Google+, video, and other services to create a better user experience. The plan is to provide Google users more targeted search result, while assisting businesses in locating potential customers.

For example, if a potential dental patient uses Google to search for dental implants, then the next time they sign into YouTube, they might see recommendations for videos featuring dental implant technology, dentists performing implants and ads for dentists who perform implants in the potential patient’s geographic area.

Imagine what this experience will be like when these search results also include recommendations from friends within their circle for a dental practice that specializes in dental implants not far from where the potential patient lives.

Google likes to report that those users who agree to see personalized ads from Google are 37% more likely to respond to those ads.

What does this mean for dental marketing? It means that having a search engine optimized dental website that integrates with Google+, so that prospective patients easily find you, has now become more vitally important than ever before.

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