Marketing Budget for a Plastic Surgery Startup
Plastic and cosmetic surgery continues to be in high demand in the United States. This demand has created a healthy yet competitive marketplace for plastic surgeons.
According to the ASPS 2016 Plastic Surgery Statistics Report, the three procedures with notable gains include buttocks augmentation with fat grafting (up 26%), lower body lift (up 34%), and labiaplasty (up 39%).
With more cutting-edge procedures and technologies hitting the market, patients are becoming more aware of new opportunities and more interested in researching the best options for their bodies.
Plastic surgeons interested in starting their own practice need to:
- Be visible in a competitive market
- Properly address patients who have become obsessed with wanting to know answers within seconds
The questions come down to: How do I set a budget for marketing? What is the best way for a plastic surgery practice to achieve sustained growth?
Spending too much on marketing can take away from costs needed for a healthy operations budget. Spending too little on marketing can keep you from achieving your goals and paying off your loans in a timely manner.
When building a strategy for marketing a practice, three things must be considered: the age of the practice, the location of the practice, and the size of the practice.
Age - A practice that is just starting up will need to invest more money up front to help build brand awareness in its market. This can include internal marketing software, branding, and website and digital marketing (SEO/SEM).
Location - Practices in high-population, high-income locations will face larger competition than practices in other areas. The more competition in your market, the more dollars need to be allocated toward your marketing budget.
Size & Number of Procedures - The more services a practice offers, the more competition it will have with other plastic, cosmetic, derm, and medspa practices. Each procedure offered will need a specific marketing strategy to get more patients inquiring about this procedure.
While digital marketing always delivers the strongest ROI, it’s important that each and every individual marketing activity is being measured in regard to number of leads.
This means tracking every single phone call and email that comes into the practice from the marketing strategy at play.
At DoctorLogic, a website software company that specializes in launching startup plastic surgery practices, doctors can log in any time to see how many leads have come through their website. They can listen to all phone calls and read all emails.
This allows the practice to accurately measure how many new patients are inquiring, which services they are inquiring about, and what the total ROI is on their website and through their digital marketing efforts.
Budgeting for Marketing
A startup plastic or cosmetic surgery practice should plan on spending no less than 6 – 12% of their annual revenue on marketing. Younger practices will need to spend more initially to gain exposure — same for practices in areas of larger competition. Initial costs will focus on establishing a digital and physical presence.
Below is a list of guidelines on how to plan out your marketing budget for the first five years of your plastic or cosmetic surgery practice:
Year 1 - 2
$500,000 – $1,000,000 projected annual revenue
$2,500 – $5,000/month budget (larger markets could need more)
- Google Organic Presence
- Directory Listing Optimization
- PPC Ads
- Marketing ROI software (i.e., call and email tracking)
- Internal marketing automation software (i.e., patient reminders, practice specials, events, etc.)
- 1 – 2 in-person events per year
Years 3 - 5
$1 – 2 million projected annual revenue
$5,000 – $10,000/month budget
- Expand digital budget for additional PPC or ad campaigns
- Social media campaigns
- Email marketing campaigns
- 2 – 3 events per year
DoctorLogic specializes in marketing brand new plastic surgery practices. If you’d like to read more about how we’ve helped practices generate revenue in their early stages, read our case study on a plastic surgeon in the fourth largest city in the U.S.
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