June is the perfect time to have a mid-year review. The mid-year review analyzes your practice in terms of goals set at the beginning of the year. It evaluates the growth of the practice to see how successful marketing was and helps you determine any necessary improvements.
The best way to track marketing efforts is to use ROI. The Return On Investment is used to measure the effectiveness of your marketing tactics. The formula for ROI is:
ROI = (Gain from Investment – Cost of Investment)/Cost of Investment
- Gain from Investment = proceeds obtained
- Cost of Investment = how much money was invested into the campaign
Click on the link to find out how to measure ROI.
After you have performed a return on investment analysis it is time to determine if your inbound marketing is attracting and retaining new patients. An inbound marketing assessment will compare your website to competitors to find out how to make better marketing decisions.
Click on the link to fill out a form for a free ($150 value) marketing assessment.
After conducting your assessments, stop any marketing efforts that are not producing results. A good marketing plan is fluid and eliminates ineffective strategies. However, marketing is a process that takes time, so be patient with strategies like social media.
With these tips, you can make sure that your practice is on the right track to success. A mid-year review will help make sure everything is going smoothly and point out any outliers in your plan. If you need help conducting your mid-year review, contact Mindstream Creative.