What is the best approach to reaching capacity at your dental practice?
We tend to equate ad spend with results, but the worst thing you can do is spend a lot of money on marketing when your systems are not set up to handle the leads that are coming in.
So, how do you find the right balance between operational efficiency and marketing?
Marketing Expert Ryan Gross is the founder of CMOShare, a data-driven dental marketing and consulting agency based in Lincoln, Nebraska.
Ryan has more than 15 years of experience in marketing, brand management, communications and sales in the attraction industry and the dental space.
On this episode of The Dental Boardroom Podcast, Ryan joins host Drew Phillips to discuss CMOShare’s unique, operations-first approach to dental marketing.
Ryan explains why it’s crucial to optimize inbound call answer rates before you put money into marketing and challenges dental practices to track their phone and online conversions.
Listen in for Ryan’s insight on determining the right ad spend to reach your patient acquisition goals and learn how to find a marketing company that’s the right fit for your dental practice.
[0:52] Ryan’s background in marketing and how he got into the dental space
[2:00] What the client evaluation process looks like at CMOShare
[4:11] How Ryan’s team analyzes data to determine inbound call answer rates
[8:14] Why it’s crucial to optimize answer rates before you put money into marketing
[12:11] Why your answer rate might be below Ryan’s recommended goal of 85%
[14:36] What to do if your conversion rate is lower than average
[19:24] Conversion rates for insurance-based vs. fee-for-service dental practices
[21:05] Ryan’s advice on tracking and retargeting big-ticket dental services
[24:02] How to set up conversion tracking on your website
[28:08] The importance of making sure online scheduling is set up properly
[31:18] How urging existing patients to schedule online frees up time for new patients
[33:29] Ensuring your site is built to facilitate the highest conversion rate possible
[39:12] The 3 components of a website set up to convert new patients
[42:29] How Ryan thinks about using tech tools to capture leads on big-ticket services
[44:06] How CMOShare builds out a focused ad campaign and measures its success
[49:19] Why increasing your ad spend doesn’t necessarily lead to better results
[51:36] How Ryan’s team determines the ad spend you need to reach your goals
[53:06] Ryan’s advice on setting realistic new patient goals to reach capacity
[56:45] What to look at when your new patient growth stalls
[58:49] How to interview a marketing company for fit with your dental practice
Wes knows what's best for dental practices. He's been doing this for a long time and he sees lots of practices. He can tell me how our practice is doing, and what we can do to increase our productivity. With past CPA's, there were no ideas. It was all coming from me, saying "I think I can do better, but I don't know how." I come in to meet with Wes and he says "You CAN do better, and I know how."
PracticeCFO is in hundreds of dental offices around the country. They know what numbers should look like. They know what percentages of payroll, rent and supplies should be, and they will hold you accountable to those numbers, which will really help you stick to your plan and your path of growth and savings. That is invaluable
Whenever something comes up, whether it's building or practice related and we weren't sure where the numbers would go, PracticeCFO has been instrumental in helping us figure that out. I can't say enough of how important that is - that it goes beyond that initial partnership. They make sure this business marriage works.
When I go home from work, I don't spend a whole lot of time stressing about what my books look like, or how much I owe in taxes. By using PracticeCFO, the burden of keeping track of a lot of the big financial numbers and metrics are taken off my plate.
PracticeCFO helped me develop a plan for the future. I have colleagues that work with other accountants that don't have a plan - they just look at the numbers of the practice and that's it. There's no plan for 10, 20 years from now. But with PracticeCFO, you get that. PracticeCFO makes you feel like you're they're only client.
(In reference to his practice sale) What could've been super stressful, wasn't! When picking John and Wes, it was from word of mouth recommendations and other people's experiences from the past that really did it for me. And it turns out that those recommendations were right on the line.
Wes knows the business side of dentistry. His comprehensive plan will organize your personal and professional finances so you can focus on taking care of patients. Massive ROI.
I can’t say enough good things about everyone at PracticeCFO. Everyone on the team is professional, organized, knowledgeable, helpful and kind. They also respond to emails and phone calls immediately and are always happy to help. They have helped me navigate year-to-year as a business owner. PracticeCFO gives me peace of mind that my business is in good hands.
I love Practice CFO! They have helped me obtain a practice and maintain a practice. They are incredible people who are on top of everything and make owning and running the business portion of a practice easy. They couldn’t be better for my business and my sanity. They have every detail of the business and taxes taken care of where all I have to do is show up and follow their easy steps to success!
Practice CFO has the best tools I’ve seen for personal tax and financial planning in addition to top-tier corporate tax and accounting services. I have been very pleased with the level of quality service. They manage my monthly bookkeeping and accounts payable. It is a great system and saves me a ton of time, and it allows us to have monthly financial statements within a week of month end.