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Determine a Marketing Budget for Your Medical Practice

How to Determine a Marketing Budget for Your Medical Practice?

Whether you’re starting a new medical practice, expanding on your current practice, or simply looking to bring in more new patients, at some point you’ll need to figure out a marketing budget. Every practice needs to have a marketing budget. It doesn’t matter how successful your word-of-mouth marketing has been, you need to invest in your practice, because like any business, stagnation can lead to less revenue. This makes your practice more vulnerable to your competition. One question that I frequently encounter by different plastic surgeons and medical professionals is “what kind of budget should I set aside?”

The simple answer is: it depends. A well established practice typically will dedicate about 10% of all revenue to marketing. For newer practices I recommend a budget of at least 20% of all revenue. Of course, for a brand new practice you’ll need to invest marketing dollars before there is any kind of return or incoming revenue; such is the case with starting any business.

Once you’ve established the percentage of your budget that you’d like to dedicate you’ll need to figure out how to divide up the funds. Let’s say, for example, your practice earned $1 million in revenue and you want to use 10% of that revenue on marketing. That’s $100,000 split up over 12 months, so about $8,300 a month (or $25,000 a quarter).

Next, you’ll want to decide how much to dedicate to offline marketing and how much to dedicate to online marketing. A lot of offline marketing is essential, such as flyers, brochures, business cards. These are typically more set up expenses and relatively inexpensive. TV, radio and print advertising on the other hand, can be very expensive. Typically, print advertising will give you “more bang for your buck” than radio or TV; however, I recommend doing significant research on local publications and magazines before investing. You will also want to look into direct mail marketing to your existing patient base.

When analyzing where to invest your budget online you’ll want to consider SEO, social media marketing, blogging, video marketing, press releases, website maintenance, email marketing and much much more. Unlike offline marketing, which I can easily break into TV, radio and print advertising, there is so much more to consider when coming up with your online marketing budget.

You’ll want to determine and categorize services that your staff can do in-house, services that your staff can do with some training, and services that you’ll need an agency to handle. The important thing is to be aware of every tool that can potentially market or advertise the practice to bring in new patients. This requires a lot of research and due diligence.. Whatever you decide to invest in, you’ll need to have a way to track ROI (return on investment). If you don’t know your ROI then you risk throwing A LOT of money away.

If you have any questions about developing a marketing budget then contact Turbo Social Media today, or call 877-673-7096 x2.

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Monday, October 25th, 2021
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TRBO ADvance is a multichannel digital advertising and marketing agency specializing in Medical Beauty. We combine great design, cutting-edge technology, and proven business strategies into a clear message powerful enough to propel practices forward.

Our Services

Patients finding your practice is a major key to building your client base. We help physicians and aestheticians build thriving practices by improving your website’s position in search results and page rankings.

We transform your business while you transform your patients. 

Your website is a showplace for aesthetic beauty and the rich emotional rewards every patient wants to feel. Information about your practice, staff, and specialties is displayed in a modern setting to invoke all the possibilities available to your patients.

Our web design brings beauty to life through innovation and ever-changing technology.

Our expertly crafted email marketing campaigns help you reach your patients on a whole new level. With today’s fast pace, timely communication keeps warm leads warm, helps patients stay informed about your practice, and saves you invaluable time.

Retain existing patients and bring in new, prospective patients easier than ever.

With marketing services tailored to your practice’s individual strengths, TRBO ADvance helps you convert consultations into patients.

Through the science and psychology of patient decision-making, we position your practice as the best choice for helping patients achieve their aesthetic goals.

The Medical Beauty world is a marriage of art and science designed to bring patients joy and confidence in themselves.

We bring creativity to that relationship with compelling writing, on-point branding, informative videos, smooth photo galleries, and engaging web and email content to showcase your practice’s exacting standards of patient care and results.

TRBO ADvance strategizes solutions for your practice using our considerable industry knowledge, so you take advantage of the trends and topics which most interest patients.

We offer a blueprint for your practice to flourish and grow.

Finesse in advertising is a must for the modern Medical Beauty practice. Patients are savvier than ever, and traditional sales pitches are best left in the past.

We’ve mastered the art of digital media advertising to bring attention to your practice with style and expertise.

As a gateway to potential patients, social media engagement is a major component to building successful branding for your practice.

Interactive information and educational exchanges with prospective clients can increase your website traffic and your reach, so you can connect, build trust, and increase your digital footprint.

SEO
Web Design
Email Marketing
Conversion Services
Creative Direction
Strategic Consulting
Digital Media Advertising
Social Media

Patients finding your practice is a major key to building your client base. We help physicians and aestheticians build thriving practices by improving your website’s position in search results and page rankings. We transform your business while you transform your patients.

Your website is a showplace for aesthetic beauty and the rich emotional rewards every patient wants to feel. Information about your practice, staff, and specialties is displayed in a modern setting to invoke all the possibilities available to your patients. Our web design brings beauty to life through innovation and ever-changing technology.

Our expertly crafted email marketing campaigns help you reach your patients on a whole new level. With today’s fast pace, timely communication keeps warm leads warm, helps patients stay informed about your practice, and saves you invaluable time. Retain existing patients and bring in new, prospective patients easier than ever.

With marketing services tailored to your practice’s individual strengths, TRBO ADvance helps you convert consultations into patients. Through the science and psychology of patient decision-making, we position your practice as the best choice for helping patients achieve their aesthetic goals.

The Medical Beauty world is a marriage of art and science designed to bring patients joy and confidence in themselves. We bring creativity to that relationship with compelling writing, on-point branding, informative videos, smooth photo galleries, and engaging web and email content to showcase your practice’s exacting standards of patient care and results.

TRBO ADvance strategizes solutions for your practice using our considerable industry knowledge, so you take advantage of the trends and topics which most interest patients. We offer a blueprint for your practice to flourish and grow.

Finesse in advertising is a must for the modern Medical Beauty practice. Patients are savvier than ever, and traditional sales pitches are best left in the past. We’ve mastered the art of digital media advertising to bring attention to your practice with style and expertise.

As a gateway to potential patients, social media engagement is a major component to building successful branding for your practice. Interactive information and educational exchanges with prospective clients can increase your website traffic and your reach, so you can connect, build trust, and increase your digital footprint.

Patients finding your practice is a major key to building your client base. We help physicians and aestheticians build thriving practices by improving your website’s position in search results and page rankings. We transform your business while you transform your patients. transform your business while you transform your patients.

Patients finding your practice is a major key to building your client base. We help physicians and aestheticians build thriving practices by improving your website’s position in search results and page rankings. We

Your website is a showplace for aesthetic beauty and the rich emotional rewards every patient wants to feel. Information about your practice, staff, and specialties is displayed in a modern setting to invoke all the possibilities available to your patients. Our web design brings beauty to life through innovation and ever-changing technology.

With marketing services tailored to your practice’s individual strengths, TRBO ADvance helps you convert consultations into patients. Through the science and psychology of patient decision-making, we position your practice as the best choice for helping patients achieve their aesthetic goals.

The Medical Beauty world is a marriage of art and science designed to bring patients joy and confidence in themselves. We bring creativity to that relationship with compelling writing, on-point branding, informative videos, smooth photo galleries, and engaging web and email content to showcase your practice’s exacting standards of patient care and results.

TRBO ADvance strategizes solutions for your practice using our considerable industry knowledge, so you take advantage of the trends and topics which most interest patients. We offer a blueprint for your practice to flourish and grow.

Finesse in advertising is a must for the modern Medical Beauty practice. Patients are savvier than ever, and traditional sales pitches are best left in the past. We’ve mastered the art of digital media advertising to bring attention to your practice with style and expertise.

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