We talk a lot about the return on investment (ROI) of social media marketing for dental practices. In fact, it’s a favorite topic of ours to discuss with clients and prospective new clients.

Aaron Schulman, who serves on the advisory board for 5th Avenue Acquisitions & Venture Capitalists, wrote a fascinating post for DentistryIQ entitled, “5 Surefire Ways To Increase Your Dental Practice’s Value Before You Sell”. Aaron’s group specializes in assisting dentists when they want to sell or buy a dental practice. In that post he talks about an interesting observation:

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When evaluating the ROI of social media marketing, dentists and dental consultants typically limit their discussion to new patient acquisition, greater patient retention, and increased case acceptance. But added practice equity is also an important, often overlooked benefit.

A deep-seated digital marketing presence, a following of advocates, and a sound social strategy that is embraced by your team will reach well beyond a static website and traditional SEO efforts. These practice assets are not only far more sustainable and effective, but they can be important contributors to practice valuation as well.

Are you implementing effective social media marketing in your practice for ALL the right reasons?

2 comments on “A Less-Talked-About ROI Benefit Of Dental Social Media Marketing

  1. Thank you Jack for sharing this post and concept. I was thinking of 2 kinds of dentists who go to sell their practice. One with active social media accounts whereby the dentist and staff respond and interact with clients and prospects (as well as handling any concerns or disgruntled people quickly and in a caring manner). The second kind of dentist has no social media presence whatsoever. I would think that all thing being equal, the newer graduate or younger associate looking to acquire a practice would find the practice with active, integrated social media presence a better, more relevant business because of this.

    • Great comment, Aaron. Thanks. Every practice owner should realize that one day, whether it’s next year or ten years from now, this will become important. It’s not only important when you try to see your practice, but will be important as well if you ever bring on a partner.

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