Archive for the ‘Marketing’ Category

How Much is Enough?

Wednesday, June 20th, 2018

Guest post by Sally McKenzie, CEO McKenzie Management

Naturally, one of the first questions many dentists ask is, “How much should be budgeted for marketing?”  For startup practices or offices that seek to market and grow aggressively, 4-6% of projected production should be allocated for marketing. The typical dentist should budget about $30k to $50k for the first year. For established practices, 3-4% of projected production should be allocated. The typical established dentist should budget $20k to $40k per year.

New dentists commonly assume that because they have a large family or are active in their church these individuals will be the new patients that sustain their practices. What is not considered is this may amount to only 20 to 50 people. They don’t fully realize how many new patients they need each month to make payments on the practice, pay the staff and themselves.

Marketing is an investment in the success of your practice. If you cut the marketing budget or have an insufficient budget, you are cutting the flow of patients to your practice. Without patients there is no practice, plain and simple. Invest in your practice. Create a budget and spend it intelligently – which brings me to my next point.

Marketing is far more than a single ‘Campaign’ or ‘Event’

I have watched dentist after dentist throw thousands of dollars into so called “marketing campaigns”, convinced that this one will bring in all the patients they need. It’s the “silver bullet,” the answer to all of their struggles. The campaign kicks off. The mailers are sent, the ads are placed, the special offers are promoted, the radio jingles are playing, and, yes, the phone is ringing. The schedule is full. Ninety days later, it’s over and so is the rush of new patients.

What happened? Was the campaign really a waste of money? Why are there holes in the schedule again? Who’s responsible for this disaster? Who, what, why – many questions and concerns arise when lots of money is spent and limited return is achieved. I have a word of advice for you – STOP.

Stop looking at marketing as a one-time external event. Marketing is taking place in every interaction with every patient. It is what happens when your business staff answers the phone. It is what takes place when you explain a procedure to a patient. It is the layer of grime on your front door that no one on staff notices because they’re always going in and out the back. Marketing is the small stuff and the big stuff. It is the “whole package.”

SallySally McKenzie is CEO of McKenzie Management, www.mckenziemgmt.com, a full-service, nationwide dental practice management company.

Contact her directly at 877-777-6151 or email sallymck@mckenziemgmt.com

What New Dentists Can Gain from Losing

Friday, April 6th, 2018

Guest post by Nelson Kanning, DDS

Why would anyone boast about being a loser, especially if losing involved money? Who in their right mind would consider losing money a gift? Most dental practice owners and even associates would throw a fit at the idea of setting a goal to lose money. But, I’m proposing being a loser can make sense, particularly if you’re a new dentist.

Until recently it was hard to admit that being a loser is one of my greatest gifts. The majority of my experience with teams has been as a loser. High school football; we lost. I played for a Division I football team that was bowl champ the year prior to me joining. Then, we lost. Losing used to be tough. However, now I’m finding being a loser is a joy.

I’d say this revelation happened about six years ago. I was sitting in the audience at the American Academy of Cosmetic Dentistry’s (AACD) annual scientific session in Seattle. During one of the opening sessions, I became curious about the awards being given to offices who participated in their Whitening Challenge. Offices who participate in the AACD Charitable Foundation’s Whitening Challenge agree to donate a portion of profits from their whitening to the Give Back a Smile program, which restores the smiles of survivors of domestic violence. And one office received the award for donating the most profit from whitening to the AACD. That office’s benevolence inspired me. Their team was excited about the program. The doctors felt good about the service to their patients and to a much greater cause. That day, I realized that program had to be part of my practice.

It seems fit, here, to reveal that dentistry is my second career. Through my twenties, I made a living as a professional fundraiser asking people to donate money to leadership programs, support scholarships, and buildings for a private liberal arts college. During that time, I was always fascinated by the joy the donor received knowing their money was making an impact for someone deserving. The Whitening Challenge has given me that same feeling of joy. It is a whole lot more fun to give money away freely than it ever was to ask for money.

Does donating increase my bottom line? Who knows. But ultimately, who cares. You’re not a dentist solely for the profit. Remember, you said it yourself in your interview: “I really want to help people and make a difference.” Boom, here is your chance. Finding a cause for your practice, like the Whitening Challenge, can make instant connections with skeptical patients as well as entice new patients into our chairs. It has given my team a cause they are proud to stand behind and excited to share with our community. However, it mostly reminds me that when you do the right thing, despite your overhead, your monster loans, and your financial ambition, being a loser just feels good.

AACD.Blog.4.7.18.Kanning (002)Nelson earned a BS at William Jewell College, with an emphasis in Leadership and Biology. After graduating, he served two years as a leadership trainer and capital campaign consultant for Sigma Nu fraternity. Although he enjoyed his mission-driven work in the non-profit sector, Nelson decided to pursue his original desire for a career as a dentist.

Dr. Kanning served on the AACD Charitable Foundation Board of Trustees from 2015 to 2017 and served as the chair from 2016-2017. His office has participated in the Whitening Challenge since 2013 and won the Bright White award in 2014 for donating the most whitening proceeds of all participating practices in that year. Since his office has started participating in the Whitening Challenge, they have donated nearly $25,000 in whitening proceeds.

 

Insurance “Coupons” Put Patients in the Chair

Wednesday, July 15th, 2015

Coupon use is growing. According to an analysis by The Neilsen Company, “more affluent households dominate coupon usage: 38% of ‘super heavy’ users and 41% of ‘enthusiasts’ come from households with incomes greater than $70,000. Households with incomes of $100,000 and up were the primary drivers of coupon growth…”

So, what does this have to do with dentistry? It is a reminder that attitudes toward money – specifically spending and saving – have changed significantly in recent years. Moreover, those most tuned into the value of the dollar – the better educated, higher income households – are also those most likely to understand the importance and value of your dental care.

However, as consumer savvy as this population may be, the majority of them don’t realize that they are likely losing $500, $250, $700 in your office. How? Many, many patients have dental insurance plans with unused benefits that are poised to go to waste come year’s end.

Dental insurance companies make millions of dollars off of patients who never use their insurance benefits because unbeknownst to the consumer, many of these plans provide coverage up to a certain dollar amount annually. Insurance companies aren’t going to encourage customers to use benefits, and it is rare that patients actually know what they have left in benefits. Most are too busy to sift through their policies to determine what might remain on them, which makes informing them about the benefit an excellent win-win opportunity for patients and dental practices.

Take these steps:

1.  Generate an “unscheduled treatment plan report.”
2.  Identify those patients who still have unused insurance benefits.
3.  Prepare and send a special letter to each patient.  ( I have templates for this if you or your office needs assistance)
4. Add a P.S. that says, “Take your insurance dollars further with interest-free patient financing. Ask ‘Jessica’ in my office for all the details.”

I can virtually guarantee that every patient you notify will thank you for calling this to their attention. Whether they take advantage of the opportunity or not, they will appreciate the fact that you took the time to educate them on this important insurance detail.

 

 

Practice Website: 5 Points to Consider

Friday, December 6th, 2013

1. Look like your target audience. Make sure that the website has a look and feel that reflects your audience. For example, the type of website that will resonate with the target audience in Manhattan, NY, will not be the same type of website that will appeal to the target audience in Manhattan, KS.

 

The images on the site should reflect the audience. If your practice focus is dental implants, dentures, and your demographic is older patients, your website shouldn’t have numerous images of teenagers and young people.

 

2. Keep content relevant. Content should be written in a patient-friendly style. Provide enough information to enable the patient to understand it to the point that they are comfortable calling the practice. Give enough information that the search engines will find you, and avoid limiting information to just bullet points because bullets alone reduce the chances that the search engines will find your site.

 

3. Be careful that content is not copyrighted.

 

4. Avoid music. It’s annoying for the users. When the music starts, the user is looking for the off button.

 

5. Navigation should be consistent on every page. This enables people to quickly find what they are looking for. If you make them work, they will leave your site and go to your competitor’s.