Veterinarians expend a lot of effort and money towards marketing their services to both existing and new clients. How do you know if it was money well spent?
In the best case scenario, you have the ability to connect a purchase or other intended activity directly to a marketing activity. In modern terms, Google is one of the most powerful and effective marketing programs ever invented, because companies agree to pay a per click fee for every 'click' on an ad they deploy on the Google Ads program. The 'clicks' are a direct measure of customers' response to the ads they are presented. In this manner, a company can measure responses in the form of clicks, and they can measure financial transactions that result from those clicks. Thus, they can calculate a return on investment for every dollar they spend on Google Ads.
But, what happens if you advertise in a magazine, sponsor an event, or purchase a marketing program? How do you measure success or failure?
The IsMyPracticeHealthy financial dashboard provides another measure of success or failure for general marketing activities of your practice. The two primary charts to monitor are Total Revenue T12 and Number of Transactions T12. Both of these measure the relative practice activity in a practice that is important to growing and sustaining a healthy practice. Examine the charts below to see examples of T12 charts that show a significant change in the data trend that signifies a result from a marketing activity. This was a practice that had engaged a data-mining and marketing program to use their practice data to grow their practice. It's worthwhile to explore these marketing programs. And just as important, you need to monitor results to ensure your money is well spent.
Change in Revenue Trend at September 2015 from New Marketing Program
Change in Transactions Trend at September 2015 from New Marketing Program
