Have you created a marketing budget? Here’s why you need to!
It’s almost the new year! If you’re like us here at Veerspace, that means you’re busy paying your employees, examining your books and making a budget for the new quarter. Of course, you’re budgeting for things like staff salaries and office rent. Those are all essential for your practice. But, there’s one other essential question that a lot of our clients haven’t even thought to ask themselves:
How much are we going to budget for marketing?
When it comes to medical practices, making time and money for advertising seems to get shoved to the back burner. We understand why that is. As a doctor and the head of your practice, you’ve got a lot of other things to think about. Marketing seems like a frivolityLet me tell you, it’s not! In fact, not having a marketing budget will most certainly cost you more than you think.
Marketing is essential
Think about it: patients can’t come to you if they don’t know who you are or what you do. How do they find out about you? Marketing! Sure, you can rely on word of mouth. But, even in the best practices, word of mouth will only get you so far. The truth is, if you want patients, you need to get your name out there. For that, you need to market yourself. Without marketing, money doesn’t come in and all those things you know to budget for like office rent, new technologies, and staff salaries are going to suffer.
Every form of Marketing Costs Money
Here’s another harsh truth: All marketing costs money. Sure it’s technically free to create business pages on Social Media. But, if you want those pages and the content on them to be seen by the right people, you’re going to need to advertise on Facebook, Instagram, and Youtube. It is true that you can do this more affordably on Social media than you can with more traditional avenues like billboards. But, the fact remains that you’re going to have to put at least some money towards advertising on Social media sites. And, if you don’t have a budget, deciding how much money to put into Social Media ads becomes much more difficult.
Without a Budget, you’ll either pay too much or too little