Welcome, welcome, welcome, everybody to Top Line Live at Five. My name is Brian Devine and I’m happy to have you here and we’re going to be talking about your digital ad budget and the reason that we’re talking about it today is because when talking with a client, I was really kind of struck that the question that he really want it answered was “What is it going to cost to get X number of patients into his practice?”
I want to be able to give that definitive, clear, “Here is the answer. This is it.” Well, the issue, of course, is that it depends and as a marketer, even I hate hearing that response to any question, “it depends.” Unfortunately, it really does depends because where you are practicing, makes a huge difference.
Are you in an area that is well-established and there’s not a lot of new people moving in? Are you in an area where there’s a lot of new movers and people are looking for a new practice or place to go? That’s going to have a huge impact on what it’s going to cost to get, you know, that specific number of patients that you want into your practice.
Then, we have to talk about your offer. What is your offer going to be? How many offers are you going to have? Are we talking about getting new patients that are going to be a lifetime patients or are we talking about just try to get someone through the door? Are we going to give a scream, you know, the “holy smokes” offers? What are we going to be doing to get them in there? Because, again, that has a huge impact on what it’s going to cost to get someone through the door.
What does your competition look like? Do you have a massive amount of competitors that are spending heavily on digital marketing? And are they also spending time and money and effort on outbound direct marketing? And if that is the case, that is going to have a big impact.
Now, if you’re in a new area, that’s up-and-coming and you’ve got a great “holy smokes” offer, it’s going to cost you a whole lot less than somebody that’s in a city that is well-established; not a lot of new movers, and a lot of competition. That all plays into answering the question of, what should your budget be? And the good news is when it comes to digital marketing, you get to find that answer fairly quickly and as you start running campaigns, as you start testing landing pages and offers and media, right, so you have to be thinking about, “Are you going to be running video offers on YouTube? Are you going to be running Facebook? Are you going to be running AdWords? There’s real-time bidding, display ads, there’s all these different ways to get people eyeballs to look at your offer and each one has a different cost-benefit.
So, the cool thing with digital is you can decide, “Okay I want to spend X amount of dollars, maybe it’s $500 fast, and get as much data for one media and one offer and one, like, split tested landing page as fast as you can.” And then, you know, so you’ll have some data.
Now, if you spend $20 or $30, you don’t really have data yet. So, it’s okay if that’s the case where you don’t have a big budget to spend and you just want to kind of start slowly, that’s totally fine. And then, of course, it manages that you can take your $500 and spread that out over several different campaigns. Just remember that that means it’s going to take longer for you to get to the data for you to get the answer to that question of how much do you have to spend to get X number of patients.
I hope that’s helpful. Let me know what questions you have. Shoot me a message, give me a call, leave me a message, like and share and comment as much as much as possible, so that I can help you out in any way that I can.
All right, it’s getting late on a Friday, so I’m going to let you go but thank you so much for joining me today. That’s it for me. Bye for now.