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Marketing When the Budget Doesn’t Seem to Existby Mike Shoun, CEO
Starting a practice has its high and low moments. The journey you embark on from the moment you choose dentistryto the day you open the doors of your first practice can be ever so rewarding. The process entails many important decisions, from location to equipment to staff. But in many cases, we find one of the most important elements is missing – and that is marketing.
When starting a practice, the last thing any dentist wants to hear is: “You need to spend money to make money” – but it is true. Marketing is the heartbeat of any business, and this is especially true for dentists. When you first start out, your marketing budget investment should be 25% of your income. Then when you are comfortable, spend 10% to maintain that comfort level.
If that sounds like a lot to spend on marketing, remember this phrase: “It is not what you spend, but what you make on what you spend.” Why wouldn’t you spend a dollar if you knew you were going to make three...
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