Do you know the old adage…”having a business without advertising is like winking in the dark”. You know you did it but nobody else does. Successful practices and other businesses almost always have a robust marketing campaign. Successful marketing campaigns take lots of thought and creativity. At times, they can seem like pouring money down an endless drain, but the results will show up. There are a number of marketing campaigns available to any practice that are very low cost and do not mandate a great deal of the physician’s time.Â
But how much to spend? A formula that I have seen used successfully is to spend between 5 – 10% of gross income on marketing and or advertising efforts. As revenues grow, don’t think that you can then skimp…make sure to maintain that fixed percentage year in and year out.