As an agency, we really hate surprises. Even if we have previously been active in a market, we are still concerned about current market conditions resulting in a surprise today that didn’t exist a few years ago. In normal times, things can change locally in a competitive environment within two years.
Without this kind of analysis, this is the equivalent of you diving headfirst into a lake without knowing what sits just under the surface of the water which is foolish in real life and foolish in advertising!
Occasionally, we have new members who want to go big with the goal of hitting two arches per week within 6 months. In markets where total population makes this goal feasible (again only with via the Custom Market Analysis can we determine if this is feasible), advertising at this level will start at approximately $15-20K/month to ultimately treat 8-10 arches per month. At the 25-35 arch per month count, ad costs routinely go into the $35K-$55K/month range.
When we investigate potential new member markets, we spend 2 weeks pulling objective market data to answer all of the questions I’ve covere above for each and every potential new advertising member location to discuss with the practice owner(s) before they can engage with us as an agency. This also includes comparisons to our top performing practices to identify and remedy what is mising between a new practice and a top performer.
Because it’s best to be upfront and TRUTHFUL about the specific investment to generate the minimum 3 arch per month goal or your desired goal (e.g. 6-8 arches per month) and to avoid surprises.
The Importance of Informed Consent
Much like your comprehensive diagnosis and full arch treatment plan is not free, this two week process is not free. (if you are giving away your diagnosis, that is the first glaring sign of sales ignorance and lack of value for what one is selling!).
Charing a fee means we can be as objective as possible with our work. We will have gladly done our research for you and should you decide this is not the game for you we will have done our job with saving you large sums of money. If you are like 75% of those who go on to engage as advertisers, you are also entering the game in a eyes wide open manner informed about you must do and we need for success.
It’s better to understand the economics FIRST and even choose NOT to advertise right now if your practice’s cash flow doesn’t support adding in a specialty implant case business flow in the short term OR if market conditions are simply too competitive for one more player to enter the stage OR if it’s clear form our evaluation that you need to work on other administrative processes first that are damaging patient trust and that will damage your pathway to success.
Knowing the numbers means for some it’s time to run fast NOW and for other’s it’s time to deal with other parts of the practice first and revisit All-on-4 advertising later. One common thing to fix first is sales process.
Market Research Activities
Our 14-day market research activity includes:
- Local competitors analysis. Who is running ads?
- Grading of local advertising message quality. Are competitor’s ads cr*p in copy and headlines or decent or even A level? Is the market crowded with advertising?
- What are the specific investments in advertising needed for 3-4 and 6-7 full arches per month? Is it even possible to reach 6 arches per month in your market?
- How sophisticated are the early parts of competitors sales process which can be easily discerned from what is shown at websites attached to their ads?
- What’s the state and specialty level of Google reviews as related to implant services in the market?
- Of Medicare age patients, how many are likely to need implants who live within a reasonable driving distance of your practice(s)? What is the status of billing for surgical services in your Medicare region?
- What’s the state of corporate competition? What are the strengths and weaknesses of other independent competitors?
- Are there factors specific to your practice (fees, staffing, history, mindset, etc.) that we need to take into account for success and be specific about risks?
No one else in the industry is as honest about these questions as Big Case NOR does anyone else this level of research FIRST before you would be allowed to sign on the line for moving on to being an advertising member client.
Instead of being upfront and honest about the real economics, other businesses (our competitors) who attempt to service the full arch niche will either pitch you very low entry level ad cpst numbers or a free month of service as a low ball tool to get your credit card number without doing any homework. Minimal to no research means maximum surprises!
We would rather do the work first and be honest about where the barometer setting is for a 3 or 6 arch per month case flow (and be very honest about the local competition) and then start running at the pace needed when ads are launched versus hemming and hawing about the budget and why there are not sufficient cases because there was no honesty about the advertising financials to start!
So simple in concept but so few advertising agencies working with implant practices operate like this even though they are going to be spending other people’s money!
Again, as everything is local, the only way to know HONEST real numbers for your specific location for the minimum advertising investment is to have an 1:1 discussion as a starting point.
Then, if your situation and goals make sense to move on to a Custom Market Analysis step, we move on to research.
I speak your language and understand your needs and concerns (remember I am a license holder like you with years of surgical/restorative experience plus credentials). Based on my interactions with more than 1,000 clinicians, I can quickly help you clarify the goals that would lead to you having the implant practice (or practice within the practice) of your dreams.