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Setting Up A Marketing Budget in Private Practice: Grow Your Practice LIVE Ep 8
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In this episode of 'Grow Your Practice Podcast,' host Chad Madden, owner of Madden Physical Therapy and Breakthrough, delves into setting up an effective marketing budget for private practices. Chad outlines a rule of allocating 10% of gross revenue towards marketing, discussing how this evolved over time and its implications for growth. He breaks down the different avenues for attracting new patients, from cold traffic marketing to reactivations, and shares insights on tracking ROI and optimizing marketing expenditures. Tune in for actionable tips, principles, and strategies to help your private practice thrive.
If you find this episode helpful, we have the 'Profitability Under Pressure' program, a 13-week course with insights into improving time management, managing payer mix, enhancing patient lifetime value, and more. Success stories from various practice owners who implemented these strategies are shared, highlighting significant growth and financial stability achieved.
To learn more and apply for Profitability Under Pressure, visit: https://hubs.la/Q02H_3Sl0
00:00 Introduction to the Podcast
00:19 Setting Up a Marketing Budget
00:45 The 10% Rule for Marketing Budgets
02:42 Historical Context and Evolution of Marketing in PT
03:16 Breakdown of Marketing Budget Allocation
06:05 Cold Traffic Marketing Strategies
06:08 Case Study: Shrewsbury Clinic
21:35 Tracking ROI and Attribution Challenges
26:39 Effective Patient Outreach Strategies
29:53 Conclusion and Final Thoughts
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