So we have been running 4 different marketing campaigns for a dental office in Augusta, called WRDC.
We started running these campaigns in October 2018.
One of the campaigns is for 50% OFF teeth whitening sessions, and that campaign has been showing us really good results.
Here are the results:
$2753 in ad spend
334 people showed interest.
82 became patients.
15-17 have already come in more than once for teeth whitening and/or other procedures, adding to revenue.
$12,300+ Revenue generated
$75,000+ in potential long-term Revenue because each dental patient contributes at the very least $5,000 in revenue over 7-10 years if you give them good care.
Here is a visual of the results for this campaign:
By the way, our very engaging marketing campaign on Facebook is going viral in Augusta, GA.
Well, because it is simple, to-the-point and gives potential patients a lot of value.
Here’s how it looks like in action:
And here is a small section of the comments which this ad is generating:
Here are the “mechanics” behind this marketing campaign which is showing such good results (very important):
IMPORTANT: The Lifetime Value (LTV) of a dental patient:
Every single one of the marketing campaigns that we run for dental offices relies on 1 simple thing, namely that each dental patient, if they like your care, will come back multiple times a year and will refer their friends and family to the dentist.
All of this adds to the LTV of the patient and this is the #1 secret of dental offices having 6-figure months.
Here is a rough estimate of the Lifetime Values of dental patients:
Once again, the LTV is based on how long a patient stay with you and how much revenue they contribute to you over that period.
The top dental offices have patients coming in for the last 20-40 years!
Can you see how this dramatically impacts the LTV and allowed them to increase their profit margin?
How LTV helps you create successful marketing campaigns:
Normally, dentists look at the transactional value of a new patient and use that to justify their marketing expenses.
They say “If I spend $300 to get 1 new patient and that patient spends $500 with me when he/she comes in, I have made some money…”
And to be fair, that statement is true.
However, that statement is also misleading in a pretty big way because if you get this wrong, your business model isn’t set up for success.
Every single dental patient has a chance to come in multiple times over 7-10 or even 30 years IF they have a good experience with you.
All of this adds to the Lifetime Value (LTV) of that particular patient and this directly helps you with your profitability.
Put another way, you paid once to get a patient in who is now a patient for life AND is referring other people to you.
The lesson here is that you should always look at the Lifetime Value of each patient, which is at least $5,000.
Now ask yourself, “Does it make sense to invest $300 to generate $5,000 in revenue, over and over again?”
The answer to that question is always going to be a resounding Yes.
This is exactly what the top dental clinics do.
Key takeaways from this marketing campaign:
Here are some very interesting things we learnt from this (and almost every) marketing campaign that we run for dentists.
The Secret Of The #1 Dental Office In Your City Is That They Know What The Lifetime Values Of Their Patients Is And Marketing To Them Accordingly…