Majority of businesses fail to implement award winning marketing strategies thus failing to promote their brand, products and services to a wider audience. This has been attributed to the lack of understanding the basics of marketing. As a business, understanding these marketing basics is key to attracting more customers than your competitors.
Here is what you need to do.
Your brand name together with your logo are the ambassadors of your business. If the brand name is memorable and easily recognized, it will be easier for you to attract customers. Think of renowned brands like Coca Cola or McDonalds. A simple glance at their logos will immediately lead to the recognition of the brand.
To ensure that your marketing efforts are rewarded, implement strategies that are not off target. This means that if you ran an ad only once whether it was on TV or direct mail, it is not enough to grab the attention of potential customers.
To promote your products and services effectively, post your ads repeatedly whether you choose a channel like TV or postcards. If you are running a dental practice, sending postcards repeatedly to your customers will prompt them to take the following actions – call your office to make an appointment. By not following the above steps, you will be committing marketing suicide.
There are times where you have implemented a successful marketing campaign only to receive a low response rate. Here is my advice. Don’t give up. This is just a temporary setback. Probably the customers you tried to reach out are still researching more about your brand and products. By persistently sending out postcards to the same customers, they will finally make a decision and respond to you. Remember to tweak and test your marketing campaigns before implementing them.
How to measure the success of a marketing campaign
It is a common mistake among business to measure the success of a marketing campaign using response rate. Well, the right method to use is by measuring the return on investment. Before you implement a marketing campaign, decide on the budget. This is primarily dependent on several factors like the type of marketing channel, cost of materials, cost of design, cost of procuring mailing lists and the duration of the campaign.
When you advertise for the first time, you will probably receive no response from your customers. If you try for the second time, you may receive less than 10 calls. As a business, it is important not to be discouraged by the fewer responses at the start of your marketing campaign. There are reasons why the response rate is low.
For starters, your marketing budget may be minimal. That is you spent a few hundred dollars because you were cautious or the business has less resources. To ensure marketing success and a higher ROI, spend more on your marketing. If ROI is higher than your marketing budget, count that as success.
Here is a 2-Step marketing approach to get your customers interested.
Step One – Get your customers interested
For this to be possible, your design should be eye catching. This calls for the use of full color photos and high glossy finish. To achieve the high glossy finish, look for a postcard designer who understands spot UV printing. Don’t forget to incorporate your logo and your brand name. Avoid overloading the postcard with information as this will pose a challenge to the customers which mean they may discard your postcard in the nearest bin. Instead use brief and punchy headlines. This will prompt your customers to call you.
Step Two – Provide a single form of contact
If your customer takes actions by contacting your business, it is the work of your sales team to convert the leads into revenue. To do so, your sales team should have in-depth information about your products and services. They should also understand products on offer. By following the sales funnel, the sales team can easily convince the customer to purchase products from your business.
How To Set Goals For Your Dental Practice
“If you fail to plan, you are planning to fail.” This quote was said by none other than Benjamin Franklin. As a dentist with a dental practice to manage, you must have a plan composed of goals and objectives. This plan should be mapped to cover the whole year and may extend to the future if possible.
There are many objectives a dentist can set out to achieve. Some of them include increasing the number of patients, providing better treatment plans and having better customer reviews among others.
To get you started on goal setting, we have compiled the following tips for you.
- Set challenging objectives
If you set easy goals, you will place your business on the path of failure but if you set challenging goals, you will be able to formulate sound strategies in order to overcome the problems. For example, if you set a goal to provide a treatment plan of $500 last year, it would be impractical to set a new goal to provide a treatment plan for $2500 for the New Year. Not will you scare your scare customers away but the goal will be too challenging. Instead set goals that are challenging and achievable.
- Keep a record of your goals
Although the human mind is a super computer by itself, it can be lousy when it comes to remembering crucial details. If you formulate your goals and decide to store them in your mind, you will surely forget. To maintain a record of your goals, write them down. If not, create the list of goals on your computer, save it and sync it with your smartphone or tablet. By doing this, it will allow you to keep track of goals you have accomplished and which you have not.
- Gauge your performance
Setting goals and not tracking your progress will surely lead to failure. For starters, you have to know where you are currently. This will allow you to chart the right course. One way of keeping track of your goals is by carrying out a survey. The response provided will allow you to determine your base. From there, keep sending the surveys periodically to your customers. To ensure fast response, send it as a postcard and ask the customers to return it and redeem a discount.
Creating a budget for your marketing plan
For any marketing plan to be successful, a business must set aside the right budget. What you need to know is that it’s not easy to set up a marketing plan budget especially if it’s your first time marketing your business. To get started, we have compiled tips to help you create a sound marketing plan.
- Use your gross income as a guide
Let’s assume your business earned a gross income of $20,000. Using this amount, multiply it with 14%. This means that your marketing budget should now be $2,800. It may sound awfully a lot which is but remember your aim is to promote your business. If you implement sound strategies, you will surely reap more than you spent.
Yes, there are dentists who run their dental practices on a tight budget which means you may find that your marketing budget is higher thus being worried. Don’t! Any marketing is much better than no marketing. Here is why. When you market your dental practice, you will attract new customers. They will end up spending money on your treatment plans. As a result, you will earn revenue and continue to attract more customers thanks to the high quality services provided.
You may be wondering why 14% and not 10% or 20%. Well, I chose this amount as a guide and because I have used it to formulate marketing budgets for my clients. As a result, your business will expand within 6 months, a year or even 5 years. The goal is to ensure that you don’t maintain the same status but to keep growing.
Three factors determine the growth of your practice.
- Quality of products offered
- High quality customer service
iii. Implementation of sound marketing strategies.
Remember, as the previous year ends, sit down and evaluate your performance so as to formulate new goals for the coming year.