Whether it’s high on your practice marketing priority list or not, social media is neither a passing fad nor something that only pre-teens engage in. While it certainly shouldn’t completely replace any of your other online marketing strategies (like SEO and PPC), dental social media marketing has become an important part of an online marketing strategy for successful dental practices. Here are some of the latest stats:
- A staggering 85% of Internet users have a Facebook account. (Hubspot, 2012)
- 57 percent of Facebook users are female. (Uberly, 2012)
- An average Facebook user creates 90 pieces of content (status updates, photos, links) per month. (Kissmetrics, 2013)
- Of all US adults between the ages of 46-66 who use social media, 95% are on Facebook. (Forrester, 2011)
Research is showing that all demographics have overwhelmingly adopted Facebook as their social network of choice and spend a good part of their time there. As a dental practice who wants to get more patients searching online, your social media activity sends signals to Google that help your website rank higher in search engine listings and has the potential to help you connect with your patients and potential patients.
But for many reasons, some dentists are hesitant to acknowledge that Facebook is a worthwhile marketing strategy or to even engage in Facebook for their practice at all. Why? Dan Zarella of Hubspot probably summed it up when he said:
“All too often, social media marketing advice comes from greasy, snake oil hucksters selling platitudes like “engage in the conversation,” or worse, “be awesome.”
We agree that “being awesome” is hardly a reason to put the time and effort into creating, administrating and optimizing a good practice Facebook page. You have a practice to run and patients to treat with hardly any time to have lunch each day, much less “be awesome” on Facebook. Besides, how much could a Facebook “like” actually be worth to a dentist, anyway? Well, in 2012, Hubspot released their “Value of a Like” calculator that determines how much one “like” on your Facebook page is worth to your bottom line.
This formula may be the Holy Grail for dentists who need a little more evidence that Facebook is indeed a worthwhile marketing activity for your practice. But, it’s important to know that dental Facebook pages vary in number of followers and frequency of posts, depending on how dynamic you want your page to be, and the value of each like will fluctuate. But for simplicity, here is their formula:
L/UpM x (LpD x 30) x (C/L) x CR x ACV = Value of a Facebook “Like”
If your math is a little rusty and none of those letters in the formula look familiar to you, here is an explanation:
L – This is the total number of likes (or fans) on your practice’s Facebook page.
UpM – The total number of your unlikes-per-month or Facebook users who were fans but are no longer.
LpD – The average number of links posted per day (links-per-day). Essentially, this is the number of posts a dentist will make per day to their Facebook account that include links back to their practice website. Ideally, this would lead to a webpage that allows them to book an appointment.
C – The average number of clicks a practice gets on the links within Facebook posts. If you’re unsure how to find this, the number can be determined by checking post level data on your Facebook page’s Insights section.
CR – The conversion rate from the clicks on the links in Facebook posts, which for a dentist, always translates to scheduled appointments. So, another way to think about it is to determine the percentage of people who click on your Facebook post links and then book an appointment with you. It’s okay to use an average monthly percentage for this.
ACV – The average value of each conversion. To get this figure, you divide the cost of what you are investing into Facebook marketing by how many booked appointments you get from Facebook fans. The resulting number is your average value of each conversion.
So, based on this formula, how much are the “likes” on your Facebook practice’s page worth?
If you’d like to improve your Facebook marketing strategy, need help with Facebook administration or simply want to start implementing a social media marketing strategy, contact us today to find out more about our new comprehensive social media marketing program for dentists.