Based on keyword research, click dispersion, conversion science, and other metrics, we CONSERVATIVELY estimate that you will see 436 new patients, a short term ROI of $7 to $1 and a lifetime ROI of $36 to $1.

I encourage you to watch the video in this section as it goes into detail how we established these numbers. We aren’t just pulling them out of no where!

Understanding the Value of a New Patient

In order to calculate ROI we need to establish what the value of a new patient is. Obviously if you have an awesome office and a caring team, patients come back every 6 months for their regular check up and refer their friends. Over the course of a lifetime, this is likely worth $10,000 – $20,000 on average.

Let’s be safe and take the low end ($10,000) for lifetime value. Also, let’s set a “short term” value at $1500 for general patients and $3000 for cosmetic patients. This numbers reflect the “average” spend / referral value of a new patient within the first year of visiting you.

Understanding Your Sales Funnel

Using Google’s keyword tool we can estimate the cost per click for general keywords to be $7.5 or less and $12.5 or less for cosmetic keywords. Let’s be safe and use these “worst case scenario” numbers to ensure our expectations are managed correctly. Let’s run through a full conversion funnel so that you can see how it works.

Sample Cosmetic Adwords Budget: $1000

Cost-Per-Click: $12.5

Estimated Clicks: $1000 / $12.5 = 80 clicks

Engagement Rate: Let’s assume 40% of people accidentally clicked on your ad or meant to click somewhere else. This means we have 60% click through your site. 80 clicks * 60% engagement = 30 engaged prospects

Website Conversion: Let’s say, conservatively, that 35% of the 30 engaged people like the information and go to the contact page. This is 10.5 people.

Leads: Just because someone get’s to your contact page doesn’t mean that they are going to contact you. Maybe they don’t like your location or hours of operation. Let’s estimate 50% of people call or email you. Out of 10.5 people this is 5.25 leads. So we spent $1000 to get 5 leads. Our cost-per-lead is $200.

Consults / Appointments: Hopefully you have an awesome receptionist that can convert leads into consults / appointments. Let’s assume 50% conversion by the receptionist. So 5 leads * .5 = 2.5 new patients (let’s not round up to 3 since this number will even out over time).

Calculating ROI

In order to calculate ROI we take the investment ($1000) and divide it by the number of new patients (2.5) and then multiply that by the value. To simplify things we can estimate that within a year (short term), the average general patient will be worth $1500 (including visits, referrals, and reviews) and average cosmetic patient will be worth $3000 in the short term.

As far as lifetime value goes, we us $10,000 / patient when calculating ROI. In our experience, top clinics have a much higher value assigned to a new patient if they are able up sell them to cosmetic treatments or retain them and generate referrals from them.

Based on the $5000/ month plan we’ve built for Charlotte, NC and conservative conversion estimates, we estimate you will acquire 50 cosmetic patients and 100 general patients in year 1 and 89 cosmetic patients and 197 general patients in year 2. This equals a short term ROI of $7 to $1 and a lifetime ROI of $36 to $1.