It doesn’t seem plausible. But an eye-popping level of marketing waste occurs month after month – even in well-managed practices.
So says Amol Nirgudkar, a prominent certified public accountant (or CPA) who works mainly with dental practices. He has seen the financial statements of hundreds of practices over more than 20 years.
The author presents his easy-to-follow case by using examples from the financial performance of a typical small dental practice.
For every dollar your practice spends on marketing each month, between 40 and 80 cents are probably going straight down the drain. Think of it.
If you spend $2,000 a month on marketing, you’re likely to be wasting $800 to $1,600.
That’s every month.
In a year, it adds up to nearly $10,000 or $20,000.
If your practice spends more than $2,000 a month on marketing, the damage to your profitability and growth potential is even worse. What if you could be putting that kind of money into a better investment?
In this compelling guide, you will discover:
- Your biggest source of marketing waste isn’t the person who does your marketing. It’s someone else in your office.
Hint: The obvious fix is not to make better marketing decisions (though that will help). Rather, your more immediate opportunity is probably in your front-office staff.
Why spend more on marketing if your practice has a hidden bottleneck that limits its growth? That’s like putting the brakes on with one foot as you try to accelerate with the other.
- It’s not hard to eliminate most of this waste once you spot it.
You won’t see the waste – or its causes – unless you focus on performance metrics that few dentists track.
- If you don’t reduce this waste, it will limit the growth and financial performance of your whole practice.
- As you remove this big bottleneck to growth, you can expect major improvements within 2 months.
- You can achieve much faster growth without spending more on marketing.
The sooner you get this guide, the sooner you can stop the bleeding in your practice.