Marketing an optometry practice requires a strategic approach. The amount you allocate to marketing depends heavily on factors like your practice’s revenue and the size of your city.
In Review of Optometric Business, Dr. Kurt T. Steele discusses the importance of strategic marketing spend in scaling his optometry practice from $350,000 to over $3.6 million annually. A key takeaway was the need to allocate budget towards high-impact marketing channels and track the return on investment rigorously.
Specifically, as revenue grew, Steele emphasized the importance of reinvesting in digital marketing, local advertising, and community outreach, focusing on channels that proved effective in attracting patients. By analyzing metrics such as cost per lead and patient acquisition cost, the practice was able to optimize marketing spend and allocate resources efficiently, ensuring each dollar contributed to sustainable growth.
This strategic reinvestment shows how critical targeted marketing spend is for practices aiming for long-term expansion.
Here’s an interactive chart that will show you amount you will need to allocate towards marketing depending on the search volumes, competition in your city and the revenue your practice generates.
