So how do you determine the best marketing budget allocation based on all of these varying factors? As experienced marketers and strategists, we can help you determine how much to allocate to your marketing and advertising budget, and how to break down your budget to achieve your goals. Once your longterm strategy is in place, it’s time to consider running paid advertisements (like Google and Facebook ads) to attract more patients and make the community aware of your brand. A long-term SEO strategy with the foundation of a quality website is necessary for your marketing budget plan, because the one constant in marketing is internet exposure-and Google isn’t going anywhere anytime soon. This means posting high-quality content (like blogs) regularly to drive more traffic to your website. If you already have a website, integrating an organic SEO strategy into your website content and/or business listings is imperative for improving your online presence over time. More established practices looking to grow and emphasize their brand may choose a custom website, whereas for a startup’s budget may be more of a fit for a cost-effective template website. Regardless of your market, in today’s digital world a user-centric and mobile-friendly website is just as important as your brick and mortar office. Other practices will find that digital is a pay-to-play space that is essential to tap into in order to get the practice name in the right ears.
Paid advertising costs (traditional and/or digital)Įvery practice is different, with different financial circumstances, different business goals, and a different market to accommodate.ĭepending on the practice’s market, some may find more success in traditional marketing methods, such as mailers, flyers, billboards and dental referrals.Website costs (starting new or ongoing maintenance).How to Determine Your Marketing Budget Breakdownįirst, let’s define a few of the different pieces that make up your marketing and advertising: Small Business Administration recommends spending 7 to 8 percent of your gross revenue on marketing and advertising, which is often the marketing budget percentage we see in practices we partner with.Ī marketing budget allocation of 7/8 percent of your gross revenue is a good rule of thumb, but again, your marketing budget should depend on your market and your priorities. Your marketing budget should be based on your specific goals. Without guidance from an experienced marketing agency, it can be fairly challenging to determine the right marketing budget allocation for your business.
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