Paid search advertising is a digital marketing strategy used in online search to promote specific services or procedures and attract traffic to your website or business listing. It consists of leveraging prime online space or “ad spots” in exchange for a fixed price or winning bid on keywords.
Every time an online search is conducted, the user’s choice of keywords enters an online bid to advertise on the highest position. Popular keywords tend to drive higher bids as competition is more prevalent, and in most cases, the ROI associated with this specific keyword set is most fruitful.
Therefore, if most people bid high on a particular word or phrase, it drives the average cost of the keyword up. To counteract the perceived cost of specific terms, it’s recommended that you customize paid search advertising to bid for the right click, referred to as customized bidding. There are several customized bidding strategies such as cost per action and smart bidding.
You should also be mindful of the misconceptions many businesses have regarding how much to bid on for keywords so you don’t make an ill-informed decision when it comes to your paid search advertising.
The two primary misconceptions surrounding bidding for keywords that businesses often make are:
- Bidding on keywords that cost less because they’re scared of spending too much on marketing.
- Targeting keywords for any and all service offerings, without strategizing what they actually want to do and how much revenue to obtain from every hour that their business is open.
At the end of the day, these misconceptions could seriously hurt your business and give your competitors an easy advantage over you. Why let that happen?
Why keywords that cost less could cost your practice thousands
The saying “less is more” does not apply to the cost of keywords. Different procedures have different values and therefore, you cannot think that the same budget applies to each procedures’ ad campaign.
For example, if you know that orthodontics produces a revenue of $5000 and you know that teeth cleaning produces a revenue of $150, and both might take about the same amount of time, should you assign the same budget to each campaign to fill your chair? Definitely not. Why? Because patient acquisition costs must vary with procedure types.
To illustrate that concept, let’s say you spend $1 per click on “teeth cleaning,” which equates to a 150% return on spend for conversion. Then, you spend the same for “braces” because you want to spend the same amount throughout all campaigns. The end result, you will probably get beaten by every single competitor and won’t appear in local area searches for “braces”.
You ask, but why? Well, every time a user searches for “braces,” your competitors will reap the benefits of attracting more patients because they bid more than $1.
Had you bid higher, say $12, for such a valuable procedure type then, your return would be 416% on a converted customer! That’s still a nice return.
Even by spending 12 times more on “braces,” than on “teeth cleaning,” you were able to get closer to 3 times the return on ad spend. This is because the orthodontics patient is worth way more once they’re sitting on your chair.
This type of thinking will not only fill your chair profitably, but will likely set you apart from your local competition.
Calendar planning would dictate ad campaign planning, rather than spreading your marketing budget thin across many different procedure types. A paid search campaign would then be optimized per procedure type to target the right audience.
Fill your chair, effortlessly
You can start strategically planning for a successful advertising campaign and bidding on the right keywords anytime, keeping in mind that patient acquisition costs must vary with procedure types.
However, be sure that companies that have been marketing in the dental industry for years have collected invaluable key learnings and tested keywords and campaigns, specific to dentistry, that would take you thousands of dollars for the average marketing company to uncover.
Conversion Whale has the market intelligence, as well as the key insights of what works in order to advertise efficiently in the dental field.
Our team of qualified and detail-oriented marketers will help you grow and develop a more profitable dental practice without wasting any marketing dollars to achieve your practice’s objectives.
Conversion Whale experts can take your practice to the next level using proven paid search advertising techniques like customized bidding or PPC strategies that will help you target patients based on the most profitable procedures you offer.