If you’re reading this, I’m guessing you’ve made the decision to start focusing more on the marketing process in your practice – which is great!
Once you have your marketing team in place, you need to decide what activities you’re going to run with, to get the best results for your practice.
It’s important to view your marketing as an investment – not a cost.
For every £1 you put in, you expect to receive a greater amount back in sales.
With this in mind, it’s therefore important to know which marketing activities are performing, and which of them aren’t performing as well – to get the best “bang for your buck” so to speak.
Before we look at a tool you can use to do this, let’s first visit a concept you might have come across before…
The 80/20 Principle
I’m sure you’ve heard this rule before.
If you haven’t – the below should suffice as an explanation.
The 80/20 principle applies to most things in life.
And the same can be said about your marketing…
80% of your results will come from just 20% of activities.
And the other 80% of activities will only give you 20% of results.
So we need to figure out what this 20% of activities are that will give us 80% of the results.
And in order to do that, we need a tactical marketing plan.
Tactical Marketing Plan
This can be as simple as a basic excel spreadsheet.
In the rows, you want to list all of the different marketing activities that you’ll be starting and want to track e.g. Referrals, Pay-Per-Click, Telemarketing etc.
And along the columns you want to have each month listed for at least the next 12 months.
Then for each activity you want to have space to enter:
– Target number of leads generated
– Your actual number of leads generated
– And the variance between the two.
Then each month – your marketing manager will record the activities into the plan.
So for example, in October you might target 10 leads from your Direct Mail activities, but you only get 2.
And then the next month you target 10 again and only get 3.
Whereas with your telemarketing, you target 5 and get 9.
And the month after target 7 and get 10.
Over time, what you will find here is that it highlights the activities that are working and those that are not working as well.
And from this, you can apply the 80/20 rule, and choose to invest more time and money into what’s working, and stop spending on activities that aren’t working.
With all this in mind, let’s look at what your next steps might be.
- The first step is to identify all of the different marketing activities that you will be tracking.
- The next step is to set targets for each one of those, in terms of the number of leads you expect each one to bring in.
- After that, it’s a case of tracking and measuring for a couple of months until you have enough data to work with.
- Then apply the 80/20 rule, and start focusing on the 20% of activities that are giving you 80% of results.
Once you do this, you will find that your results from your focused marketing activities will start to triple.