If high-end cosmetic dental treatments are at the core of your practice, and you’re spending money on advertising to acquire patients, then let me introduce you to your new best friend: ROAS (Return on Advertising Spend).
The vanity metrics mirage
Many advertising agencies are eager to show off metrics that, in reality, have little impact on your bottom line—clicks, likes, shares, and views. Don’t get me wrong, they have their place. But if your goal is substantial growth and creating genuine societal impact, these vanity metrics can be misleading.
It’s easy to be blinded by high numbers and believe you’re getting value for money. The truth? These metrics often translate into minimal tangible returns and can often result in, frankly, just fattening the wallets of platforms like Facebook.
Breaking down ROAS
What our most successful dental clients are achieving are ROAS rates of 6-10x consistently. This means for every $1 they invest in advertising, they’re seeing $6-10 in new production.
How is ROAS calculated?
Calculate the production revenue generated from leads and patient enquiries attributable to online ads. Divide this by the ad spend to acquire these leads. That gives your ROAS multiple.
Let’s say you advertise for clear aligner and implant cases.
Your average patient value is $6k.
You spend $5k on ads each month.
You generate 80 leads.
Out of 80 enquiries, on average you’re booking 25 appointments for initial consults.
Out of these 25 free initial consults, you get 7 patients accepting treatment for either clear aligner or implant cases.
That’s 7 x $6k = $42k in revenue
ROAS = 42 / 5 = 8.4x
Take out agency fees and you probably have an ROI circa 5x.
Impressive? Yes. The best you can achieve? Definitely not.
Unveiling hidden opportunities
Dig a little deeper. What about the 18 consultations that didn’t convert into revenue? Or the 55 leads that remained just that—leads? This is where the actual goldmine lies. Elevate your ROAS by focusing on these missed opportunities.
The 4 secret levers to skyrocket your ROAS
Top-performing dental practices know the secret to turning every $1 of ad spend into $10 of revenue. And now, you can too.
Discover these secrets: Watch this video.
And if you’re ready to take your practice to a whole new level, let’s chat. We’ve seen the transformative power of our Patient Growth Mechanism in over 50 practices across two countries, boasting a 15x ROAS for our own business. So, believe me when I say, we’re not just talk—we truly know the game of paid advertising and business growth.
Ready to transform? Request a Strategy Session.
In conclusion
In the complex realm of advertising, it’s easy to lose sight of what truly matters. Prioritise ROAS, dig deep into the numbers, and focus on tangible growth. Here’s to your success and beyond!
PS: Results talk, and ours speak volumes. With our proven methods, growth isn’t just a possibility; it’s a guarantee.
