Medical Advertising ROI (Return On Investment)
Common questions asked by doctors and practice managers: 1) Will I get new patients from online ads? 2) Is online advertising for doctors worth it? 3) Is Google PPC ads better than Facebook ads?
Offline Advertising VS Online Advertising For Physicians
History of advertising goes back to Egyptians and Chinese, hundreds of years before BC. Lets fast-forward to early 2000’s – Doctors started advertising in USA using billboards, radio, newspapers and yellow pages. These days, there are 2 major ways to advertise, offline advertising and online advertising. Eventually every doctor has to look at ROI to decide which medium produces the best results.
Medical Advertising for doctors can be divided into two main areas:
1. Offline – Traditional Medical Advertising. This includes bill boards, print media, placing an ad in local movie theatre to drive patients to your clinic. This type of marketing is on the decline, as more and more patients are online now.
2. Online – Digital Medical Advertising. For doctors and medical practices, this is constantly changing and covers 6 important areas. It requires constant technology changes, medical industry knowledge, HIPAA issues, and deep online advertising experience.
Common questions asked by doctors and practice managers
1) Will I get new patients from online ads?
Yes, you will acquire new patients from online advertising. Our data shows that 99 percentage of medical providers increase new patient acquisition, when PatientGain manages their online campaigns.
2) Is online advertising for doctors worth it?
Yes, we consistently see good results from your investments in online campaigns. For example an urgent care increased new patients by 63% by using PPC ads on Google. A Medspa focused on specific aesthetic services increased new client inquiries from our Facebook and Instagram advertising campaign by over 119 % and actual new patients by 28%. Key issue with online ads is who runs and manages your campaign, what type of tracking is used and is the company managing your campaign professional company focused on improving your results. For example, PatientGain’s advertising staff have triple certifications, and their entire focus is to improve campaigns. They are not generalists. They breathe, drink and eat online advertising. In addition, they have the most effective leads tracking system available, hence the campaigns can be improved based on real conversion data.
3) Is Google PPC ads better than Facebook ads?
Generally yes, but it depends. Google ads and Facebook (and Instagram) ads are very complex to setup properly. Both of them are deceptively simple but to manage them effectively and optimize, you have to constantly “tweak” things. Depending on type of practice you have, type of services you want to promote, PatientGain will provide guidance on what type of campaign should be setup. Many times it is a spread. For example a Medspa in a very competitive area, with a $5000 monthly budget, saw optimal results by dividing the budget on Google PPC and Facebook/Instagram ads, as compared to running ads on one medium. Another medical weight loss company has a budget of $2000 per month, for each of their many locations, and we have finally found that certain type of services produce better ROI on Facebook/Instagram ads.
4) How much does it cost for Google PPC ads or Facebook ads?
Google ads : Here we are specifically mean Google PPC ads. They will cost $3 to $9 per click. Averaging approx $5.84.
Facebook/Instagram ads : Used to be much cheaper. However that is past now. Most of the ads campaign on Facebook/Instagram almost the same price as Google PPC ads. They cost $2.67 to $7 per click. Averaging approx $4.67.
5) Which one has higher conversion? Google PPC ads or Facebook ads?
Google ads have a higher conversion, for most campaigns. Hence ROI from Google PPC ads is higher for most campaigns (not all campaigns).
6) How much do doctors spend on online advertising in USA?
Range is $600 per month to $15000 per month, depending on specialty and competition. Read more.
The actual advertising budget for each clinic and practice is different. Some clinics/doctors are very aggressive and spend $1000 per day (or more) and some spend $1000 a month on advertising. We also have few clinics/doctors who do not spend any money on online advertising, they doctors rely on referrals and very strong SEO rankings. This data refers to online advertising, not offline advertising spend. For example we have a medical practice with 30+ locations, on average they spend – per location – $1600 per month on online mediums and $1000 per month for offline, traditional mediums. Another medical practice with 5 locations, spends $5400 per month per location, entirely on online strategy. They are no longer spending any advertising budget on offline, traditional advertising channels. A single location in 8 exam rooms, with extreme competition, spends $15000 per month on online advertising, with average patient count of 80 -110 patients per day. A plastic surgeon with medium competition spends $8000 per month on online advertising.
Read About Details of 18 Medical Marketing Ideas – Available Using GOLD Package.
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To accelerate new patient processing, PatientGain also provides healthcare clients with online patient registration forms, saving the patient time in the clinic and adding an automated process to what is otherwise a tedious, in-clinic patient experience. Patients are happier, your Front Office work load is decreased and door to door throughput times are accelerated.
PatientGain will also work with your EMR provider to integrate online patient appointments with your EMR patient process. This saves time for both the patient and your front office and removes potential process redundancy.