Dental Tribune UK Edition, September 20-26, 2010, Vol. 4 No. 22

lasting opinions about the experi- ences we have. Step three: gather manage- ment information Let us assume you have bench- marked your current levels of patient satisfaction and that you have reviewed and refined the ex- perience you will provide system- atically to every patient who calls or visits the practice. The next step is to ensure you have a system in place to record each enquiry and the referral source for each new business opportunity. There is little point in invest- ing in a variety of marketing op- portunities if you do not record the response you receive from each activity. Your front of house team must ensure they record each new enquiry, the reason for their call, secure a contact point if possible and find out how the en- quirer heard about the practice. You can analyse this informa- tion to establish the ratio between enquiries and consultations and assess the effectiveness of the front of house team in commu- nicating effectively with new patients and motivating them to make an appointment. This system may be devel- oped further by tracking the pa- tient as they attend, ensuring they have been referred to the dental hygienist and if they are proceed- ing with their prescribed treat- ment. More than 25 per cent of a dentist’s revenue can be lost because patients do not proceed with treatment. Few practices have the time, skill or resource to address this aspect of their busi- ness and don’t invest in finding out why patients don’t go ahead with their dental treatment. Step four: measure your re- turn on investment Few practices work out the re- turn on investment in marketing. Here is a simple method to estab- lishwhetherthepracticehasmade money on a marketing activity. For this example we will as- sume a gross profit margin of 65 per cent - you must measure re- turns on profit and not on gross revenue. If you invest £2,000 on a large glossy full-page advert, you will need to generate £3,077 worth of income to break even. £3,077 in- come x 65 per cent gross profit = £2,000.05 gross profit or sufficient profit to cover the advert cost. Step five: set a budget and develop a marketing plan If you do not already allocate a marketing budget, consider the sum of money you are prepared to invest in the development of your business. This amount will depend upon the current status of your business, but in a steady state practice, I usually recom- mend around two per cent of gross income. Carry out an analysis on your local marketplace, including your competition and how you com- pare. Decide who your target market is as a cover all approach rarely works. Many practice teams forget that their most important target market is their existing patients – these individuals have already bought into your products and services so the first part of your plan should include marketing internally to existing patients. The next area to focus on in your sphere of influence is other interested parties and your plan should cover market- ing which will reach out to your target market. This could include a variety of marketing activities including; events, display adver- tising, window posters, advertis- ing boards etc. Finally your plan should in- clude some activity to “the rest of the world”, i.e direct mailing, ra- dio advertising or PR. A small fortune One of the most valuable lessons I have learnt is that sometimes the most effective marketing is the least expensive. Certainly, if you have focused your team on delivering the best possible experience to patients, your business will grow organi- cally. The investment you do make in marketing will pay divi- dends as new patients joining your practice through marketing will become great advocates of your business. DT About the author Lesley Bailey is a partner in Yes! Results, a business that offers a range of patient communication services to dental and other businesses. For more information about how Yes!Results can help you maximise your revenue and profit through effective communica- tion with patients visit www.yesre- sults.co.uk call 08456 43 50 12 or email info@yesresults.co.uk to find out more 15Event ReviewSeptember 20-26, 2010United Kingdom Edition CITANEST® 3% WITH OCTAPRESSIN DENTAL: Prilocaine Hydrochloride, Octapressin (felypressin). PRESENTATION: Sterile clear aqueous solution containing prilocaine hydrochloride 30mg/ml and Octapressin (felypressin) 0.03 i.u./ml. USES: Dental infiltration anaesthesia and all dental nerve block techniques. DOSAGE & ADMINISTRATION: Usual adult dose is 1–5ml. Children under 10 years 1–2ml. 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