Eye Focus June 2017 - Page 16

Measuring Return on Marketing Investment By Kevin Wilhelm As the owner of a marketing agency in eye care, I spend most of my week talking to practice owners about what we can do to help grow their patient acquisition numbers, their average patient value and their overall practice revenue. Through every single conversation I have with a prospective client, the same question arises – almost like clock work: How can we measure the effectiveness of our marketing? Now, I love this question because the answer has become amazing. But before we get into the answer we give today, let’s review what the answer to that question has been over the past few decades. When the television was invested and produced for mass consumption, big brand marketers could measure the effectiveness of their marketing investment based on the correlated sales of their products within a day or two of their commercial going live. Agencies would buy more commercial time if they saw a spike in sales and they would grow market share. For small businesses, television marketing wasn’t an option and so they relied heavily on word-of-mouth. Do a great job 16 EYE FOCUS | June Digital 2017 with your customers (and in your case patients)and people would tell others and those people would show up. S YKB[Y\^H[ZH[Y][H[]\\[]܈[[ܙX\H[YX]YZ H[YHوH]\\Y\ۙHYZX^[][JK[Y]H]܈ YX\\[[\]\ۈX\][[\Y[\]Z]HX\HXY\Y\H[ۜ\H[Z]Y[ۜ[Y\[HXZܚ]HوZ\[YH[Y[]ۛHH[X]]ܛ\˂ۛH[[X[H\X\][Y[YX[YX\\K[XHZY H NNL8&\ۜ[Y\\H]\KBZ[Z\YH[YHXܛ\\]ܛ\[ܙH[]\YܙK[H[YH^KH\ۈ[H^Y˜Y\\[Y]\\Y[[\\˜Y\\[[Y\XXZ[8$ۛHHH]ˈ\˜H\[\ۙ\\H[H\YۛXق\H[]X]]\\H[\][HY\O\B[HH\]H\\H[H[^H^X\][\[و\H]Y\[ۜ\H[Y[X\]\Y\H[[[YX]HX\ۚ[™Y\H]H[\