Medical SEO ROI Example
If a medical practice or doctor has excellent SEO rankings, does she still needs to do online advertising?
Online advertising and SEO (Search Engine Optimization) are related and similar tactics, however they overlap with each other and are different. Many online advertising experts will argue that they compliment each other. We agree.
Even with top SEO rankings for your medical practice, SEO cannot replace online advertising, specially Google adwords (if done properly). Top SEO rankings do not replace online advertising, they complement each other. In the example below, from a real customer. Location of the medical practice is suburban area outside major US city on the west coast, with medium competition. They have excellent medical SEO rankings for all of the major services. In the figure below, during the month of Dec, Jan and Feb – online advertising is active with a budget of $1000 per month (80% Google, 20% Facebook Ads) – You can see the number of “new patient” leads is 753 new leads – total of 3 months. Now compare this with March, April and May – With no online advertising is 408 new leads during the 3 month period. The difference is 345 less leads.
SEO Based Medical Marketing ROI Calculated – Example
Based on existing data, conversion rate is 34% of new inquiries are converted to patients, this means 117 new patients are lost.
If each patient’s initial visit is $312 with a lifetime value of each patient is $4000 – this means that :
Initial revenue of $36,504 is lost and lifetime value with 70% retention rate, $327,600 is lost by not running online advertising.
So conclusion is that yes, SEO is extremely important for your online success, but you should also consider online advertising, specifically, Google Ads and Facebook Ads.
Medical Marketing Conclusions
Even with top SEO rankings for your medical practice, top SEO results for you medical practice, cannot replace online advertising, specially Google adwords (if done properly). Top SEO rankings do not replace online advertising, they complement each other.
NOTE : In this example, PatientGain’s conversion tracking apps are ONLY tracking “new patient” calls and inquiries. Existing patient calls and inquiries are in a different dashboard.
The GOLD service from PatientGain is used by telemedicine physicians, dentists, surgeons, pediatrics, medical spas, pain management, functional medicine, primary & urgent care, cardiologists, podiatrists, addiction medicine, regenerative, wellness, therapy, OBGYN, integrative medicine, dentists, dermatologists, IVF & reproductive, pharma, bio-tech & many other medical practices.