You can easily overspend on Facebook ads if you’re not careful, but conversely, if you don’t run enough budget you never give their incredible system what it needs to make your ads work.
Here’s how you determine your ideal budget for new patient ads on Facebook.
The first thing to understand is the reason why Facebook is so good at generating new patients in the first place.
When you start an ad for new patients Facebook evaluates more than 450 variables and data points in order to match your ads up with their ideal potential prospect.
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This is that famous algorithm you’ve heard of.
Some people have a timid approach to ad budgets, spending just $10-$25 a day. This cautious strategy can sabotage marketing campaigns since Facebook has to spread that meager budget across all these variables.
It’s like spreading one jar of peanut butter across an entire tennis court. The algorithm does its best with the given budget but may not generate the desired results due to limited opportunities.
Therefore, if your Facebook ads aren’t generating the desired results at a lower budget, consider RAISING the budget for a few days.
For example, one of our practice owner clients was running $30/day and it was costing them $116 per new patient inquiry, which was far too much.
By adjusting his budget upwards he began seeing better results. Now he is spending $250 daily and is getting 30 new patient inquiries per week at about $42 each in ad spend, roughly a third of the original cost.
To achieve better results, don’t be too timid with your ad budget. An under-spender’s approach is like going to a gold mine, taking a few shovels of dirt, and giving up when no gold is found immediately.
Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.
To save time, many practitioners choose to partner with my agency, The Customer Factory.
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