By Jerry Jones
There’s no shortage of choices, are there? You could buy a CBCT scanner. ($100k) A new curing light. ($500) Apex locator. ($1000) Microscope. ($8000/op) E4D. (????? A lot!) CEREC. ($25k USED) Oral Cancer Screening Gizmotronic. ($2500 and up).
Or, you could invest it in marketing. ($100 to $100,000)
All things considered equal, which investment would drive future investments and profits, the most? Which of these items would allow you to grow your practice, experience MORE profits, more income, allow you the chance to add an associate, buy a building, etc.? Which of these items will generate the longest-running ROI?
I am IN the marketing business. It’s what I do and of course I am going to push you to spend money there, especially if you are hiring me to do it. However, in the office I operate, MARKETING is what drives the car. It’s the fuel for the engine. It’s what makes the OTHER investments possible.
If you’re too heavily invested in tech in your practice and saddled with $3500 a month equipment pymts, you are severely limited in what you can spend on growing your practice with solid, accountable advertising.
Be careful, cautious and think through that which you choose to invest your hard-earned money.
Marketing, then CE to acquire new, better, more-comprehensive skills (which you can realistically advertise and USE in a recession), and THEN technology. That’s the order of priority for me, a business guy, running a dental office.
If it’s not your priority set, and, you’re struggling, sit a while and think things through. The easiest thing to do is to buy new Gizmotronics. The more difficult is to invest in marketing and CE, in that order.
Get some clarity, then move forward!