The larger (and more successful) the business, the more you will find that they are strict about measuring their Key Performance Indicators (KPIs).
Companies like Google and Apple have written books about their methods of measuring performance and how they make data-driven decisions to fuel their growth.
I’ve practiced as an orthodontist for over 10 years, and I also served as the Marketing Operations Manager for my practice. To date, I’ve helped my brother scale the practice from two to six locations while multiplying our annual revenue 8 times within that period.
For three years, while still practicing part-time as an orthodontist, I started a marketing agency where we provided over 100 other orthodontic practices with strategic marketing advice and services.
In this role, I’ve had the chance to consult with hundreds of dental and orthodontic practices and I find that MOST practices aren’t tracking their marketing numbers effectively . . . and some don’t track anything at all!
This is a problem because if you don’t keep track of the right metrics, you won’t know if you need to make changes. And if you do make changes, you won’t know if they actually work.
There have been studies that show how simply keeping track of our performance can help us improve…
For example, weightlifters who write down how much weight they lift can lift more over time than those who don’t track anything. Runners who are timed usually run faster than those who aren’t. Just recording our performance can lead to better results.
To make data-driven marketing decisions for your practice, the process should involve…
…and finally, you can measure your progress and see if you’re getting the results you want.
This year Michelle hired me to act as her Fractional CMO (Chief Marketing Officer). She’s already got an incredibly successful and profitable business with loads of new patients. But, like most dental practices out there…
…she was guilty of falling into the “Random Acts of Marketing” trap.
You know what I mean, right?
You throw some random marketing strategies against the wall and hope something sticks!
For Michelle and her practice Total Care Dental, it was effective …
…they were very successful, BUT, lacked an understanding of why it worked and what adjustments they could make to optimize that success even further.
A lot of dental and orthodontic practices find themselves in a similar boat – making ‘random acts’ with no clear plan or objectives, just hoping they’ll do a bunch of stuff and hope new patients show up.
So, when I took the job as Fractional CMO for Michelle’s practice, the first thing I had to do was get a baseline of where they were at, so we could then figure out what their goals were.
To do that, I asked them a whole slew of questions like…
Michelle and her marketing manager didn’t have answers to many of these questions, and they didn’t actually know where to go to find these numbers. So that was exactly where I started…
…I created a Practice Marketing Scorecard for their practice.
A Practice Marketing Scorecard is essentially a spreadsheet where you record certain KPI’s every week in order to find out how the marketing of the practice is actually performing.
Once you get a baseline, you can then start making data-driven decisions on what you want to change and make a plan on how you’re going to do it.
If you’d like to get a copy of the Practice Marketing Scorecard to use in your own practice click here to get a free copy.
Along with the scorecard, I’ve also put together a handy video walkthrough where I explain how to collect the necessary KPIs, when to gather them, and of course – what to do with this data once you have it!
Click below to get your free practice scorecard so you can start measuring what matters in your practice.