What Should Be Your Chiropractic Online Marketing ROI
Dr. Paul Hollern, Chiropractic Online Marketing Expert
I often talk with chiropractors who do not know if they should or should not invest in a particular chiropractic online marketing system.
There should be one and only one factor when determining whether or not pursue or continue a chiropractic online marketing system.
Your Chiropractic Online Marketing Decisions Should Be Based On ROI
ROI being return on investment.
There is no place for emotional decisions in marketing. Does it give a ROI or not.
So after having said that what should you consider a normal or good chiropractic online marketing ROI.
A 1% ROI is considered average, a 3% is considered very good. If you do any marketing that will give you a 3% or greater ROI consider repeating it until it dies.
So what would a 3% ROI look like?
As an example is you spent 1K for a promotion and received a total back of 5 new patients it would depend on your case average.
Lets say you case average is 1K dollars for simplicity.
So you spent 1K and made 5K. That’s a 5 to 1 ROI, I’ll take it every-time.
Factros you must consider when calculating your ROI is case average and potential new patients and their case average from that chiropractic online marketing.
As an example if I had 5 new patients respond and my pro-active referrals were 50%, I know with those 5 new patients I”ll be able to get an extra 2.5 new patients.
So the math would look something like this.
5 new patients from spending 1K on chiropractic online marketing, the total new patient potential would be 5 plus 2.5 plus 1 from the 2.5.
The total new patients from that chiropractic online marketing promotion would be 8.5.
Take 8.5 times your case average of 1K, and you made a 8 fold return on investment.
As I tell clients if you get a ROI of 3 to 1 or greater your doing better than Warren Buffet, your should double down.
For more information on how chiropractic online marketing can help build your chiropractic practice give me a call at 813-480-1693.
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