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:
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?