When you’re sitting in front of your books and only looking at the amount you’re spending on marketing your veterinary practice, it is easy to consider it just another expense. Many practice owners even think of the cost of marketing as non-essential. When marketing is executed correctly, however, it becomes an essential revenue stream that brings a significant return on your investment (ROI). Keep reading to see how effective marketing can pour money back into your business.

Return On Investment

One of the best ways to get an impressive return on your investment is to utilize tools that increase revenue streams. Let’s say you spend $1,000 on a digital marketing campaign, and this campaign brings you 50 new clients. If you take the lifetime value of a client, you can determine how much revenue you get from your investment of just $1,000. It’s important to monitor various metrics to truly understand the ROI marketing brings. This includes:

• Customer acquisition costs
• Lifetime value of a client
• Conversion rates from the various digital marketing channels used

Client Lifetime Value

Each new client you attract with marketing campaigns will have a certain lifetime value, but did you know that marketing can even help you increase the client lifetime value (CLV) of current clients? Using targeted campaigns, you can create marketing efforts that encourage new clients to schedule check-ups, sign up for a healthcare package, or even try out a new service. A client that might have only scheduled an appointment once a year could now come to your clinic two or three times that amount thanks to one simple (and cost-effective) marketing campaign. 

Brand Building to Increase Value

Every time you create a digital marketing campaign, you are building your brand. Over time, this strengthens your brand enough to allow for price increases due to brand recognition. It can also help you gain significant customer loyalty, which can help keep bookings up even during economic downtowns. Other ways to build your brand are:

• Engaging in community events
• Leveraging social media to showcase news from your practice
• Maintaining an active, responsive online presence 

Data-Driven Marketing

If you try to just create marketing campaigns with no targeting, no defined budget, and no high-value search terms, it could very easily be an extra expense for your business. If you use data and analytics to inform your marketing campaigns, however, you will see a return on your investment. Marketing analytics tools give you true insights into what platforms and services bring you the best results. Creating integrated marketing strategies that combine traditional and digital platforms allows you to reach a broad number of potential customers. This can include using a mix of informative paid advertising, blog posts, instructional videos, and engaging social media content. When you can use marketing to drive both web traffic and clinic visits, you know you are doing something right. 
At Beyond Indigo Pets, we know that marketing is an investment toward your practice growth. We are here with decades of marketing expertise to ensure that every marketing campaign you create brings tangible results. Call (877) 244-9322 or fill out this form to get started with revenue-generating marketing.