The Biggest Marketing Budget Wasters

In the latest episode of the Orthodontic Products podcast, Tony Peniche, director of innovation at Peniche and Associates, talks about the ways that practices can get the most out of their marketing and branding budgets.Peniche talks about how his firm succeeds in achieving an 85% case acceptance rate and how orthodontists can stop wasting money on purchases that are either overpriced or unproven to work.Peniche addressed critical issues surrounding expenditure oversight and effective resource allocation. He emphasized the importance of the establishment of dedicated credit lines for marketing expenditures to uphold transparency and fiscal accountability. Additionally, Peniche underscored the necessity of scrutinizing expenditures on branded promotional items, urging practices to explore cost-efficient procurement channels directly from manufacturers.Later he spoke about the pivotal role of harmonizing contemporary digital marketing methodologies with time-honored interpersonal approaches. By harnessing modern online approaches like social media and leveraging traditional relationship building methods, practices can strike a balance between modernization and personalized engagement.Peniche also advocated for trusting in the process when working with a consultant and coming up with innovative methods to improve patient engagement and efficiency within a practice. He also encouraged practice owners to really consider who they were putting in crucial patient-focused positions where a positive interaction could be key to achieving more starts.