Just like you keep up with dental technology, research, and techniques by reading industry journals, I make a point to read the latest information about Internet marketing, dental marketing, and marketing trends. For a long time now, I’ve blogged about social networking having poor return on investment (ROI). Sure, subscriptions and participation are free, but time is money, and to build a successful social networking presence, you must invest time. By successful, I mean a presence that has a following – not financial ROI.
In Entrepreneur Magazine online, an article titled “Finding Customers” tells us that social media is not bringing retailers many customers. A report by Forrester Research, “The State of Retailing Online 2011: Marketing, Social & Mobile” shows that retailers are not happy with the results of investing in social marketing, like Facebook and Twitter. Now I know dentists aren’t online retailers, but there is something to learn here. The benefits to social marketing are wrapped around improving brand awareness.
Just this week, I advised a wonderful client of mine that a custom Facebook page will look great, but it will not improve ROI. It may not bring any new patients to the practice. This does not mean that a custom Facebook page is a poor investment. You have to consider your goals. For a high-end cosmetic dental spa, brand awareness and perceived value of services is essential to maintaining high profits. In this case, a custom Facebook page may be well worth the monetary investment.
But if you’re looking for hard, cold cash as a return on your marketing investment, according to the aforementioned report, “A whopping 90 percent of online retailers said search-engine marketing was the most effective source used to acquire customers last year…” Well, that’s great news for dentists! Read More