Episode 95: Measuring the ROI of Your Marketing Dollars (with John Sanders)

Spending on marketing without effectively tracking metrics can take a big toll on the financial health of your practice! Ensuring you have a solid website, are advertising on the right platforms, and reaching your target audience will drive your marketing dollars in the right direction. We're chatting with John Sanders from RevKey about the ROI (Return on Investment) when it comes to marketing therapy practices. John Sanders is an expert in marketing, specifically in paid search engine ads. He enjoys helping businesses generate leads through search platforms that ultimately help their businesses grow. Many of John's clients are mental health professionals including therapists, counselors, and psychologists. Click here to pre-order your copy of Profit First for Therapists! Click here for your Profit First for Therapist pre-order bonuses! EPISODE HIGHLIGHTS What are some different types of ads private practice owners might come across? Search ads - should be a primary focus & is the most measurable Banner ads - target a very broad audience without guarantee of conversion Social media ads - very time consuming & also caters to a broad audience How do you typically measure the ROI of Google Ads? A typical mid-sized practice will spend about $800/month ($10,000/year) on Google Ads From that spending, you can anticipate generating about 2,000 clicks on your advertisement From that 2,000 clicks, you will typically see about a 5% conversion Where should I spend my marketing dollars? Create a fantastic website that caters to all of your specialties that your target audience might search Max out your search engine ads before adding on additional sources of advertisments LINKS & RESOURCES GreenOak Accounting - www.GreenOakAccounting.com Therapy For Your Money Podcast - www.TherapyForYourMoney.com Profit First for Therapists - www.ProfitFirstForTherapists.com RevKey - www.RevKey.com ROI Calculator They Ask, You Answer by Marcus Sheridan