Dental Marketing Barometer Survey: Optimism and Increased Marketing on the Horizon for 2010

WPI Communications, Inc. has released the results of its new research, Dental Marketing Barometer Survey . In this Survey, dental specialists reported that 2009 was a difficult year, especially for periodontists and prosthodontists. Despite this, the research points to optimism for 2010 among the 260-plus endodontists, periodontists, prosthodontists, orthodontists, oral surgeons and pediatric dentists surveyed.

The Survey is segmented by dental specialty area. Below are some significant industry-wide findings.

Revenue & Projections

Revenue was down for many dental specialists in 2009. Of respondents, 37% reported lower revenue in 2009 than 2008. But for 31%, revenue increased in 2009. It remained flat for 30%.

Respondents are optimistic about business in 2010. The projections indicate 52% expect increased revenue over 2009, and 41% anticipate no change. Only 7% project lower revenue in 2010 compared with 2009.

Most Popular Marketing Efforts

In 2009, web sites and yellow page advertisements were far and away the most widely used tools in the dental specialists’ marketing arsenal. Message on hold was the third most popular marketing method last year, with 43% of practices using it.

2010 Marketing Spending Trends

Web sites will continue to be the most popular dental marketing tactic, with 80% of practices planning to utilize them in 2010, up 10% from last year.

Education focused methods will increase in emphasis in 2010. A full 15% of practices plan to introduce a newsletter for the first time to referring healthcare practitioners. And 14% more, for a total of 44%, will pursue “lunch and learn” formats to develop business. Half will dedicate their efforts to a practice brochure, which is 12% more than 2009.

Across the board, specialists plan to increase spending in all categories listed in the Survey, including direct mail, newsletters, brochures, print advertising, web site and others. The only exception to increased budget will be yellow page ad spending. Nearly 10% of respondents plan to drop yellow page advertising. This is consistent with trends across industries.

Planning & Execution

Most dental marketing is done internally. Only 18% of respondents use outsourced marketing consultants. While some specialists assign marketing responsibility to staff members, a surprising number of professionals perform day-to-day marketing functions. Oral surgeons report the best resource delegation in assigning marketing responsibilities to staff.

Managing and executing this responsibility, of course, impacts these professionals’ bandwidth when it comes to patient care, continuing education and staying on the leading edge of developments in their specialty.

A full 91% of respondents reported that having a marketing plan or program was “very important” or “somewhat important.” Only 5% responded that it was “not important.”

Key Findings from the Dental Marketing Barometer Survey:

These are some of the research highlights:

1. All specialists—endodontists, periodontists, prosthodontists, orthodontists, oral surgeons and pediatric dentists—plan to dramatically increase the breadth of their marketing efforts in 2010.
2. This expansion will apply to all listed categories, including direct mail, newsletters, brochures, print advertising and web site. The only exception to increased budget will be yellow page ad spending, which will decline.
3. Most specialists expect revenue to increase from 2009 to 2010.
4. Education focused methods will increase in emphasis in 2010. Some specialty areas will emphasize it more than others.
5. Many dental specialists are handling marketing themselves, rather than delegating it to staff or outsourcing it.
6. Most respondents acknowledge that having a marketing plan or program is “very important” or “somewhat important.”

What does this research mean to your practice? Learn more about specific 2010 marketing spending trends, resource allocation, revenue trends and revenue projections for your dental specialty. The full details of Dental Marketing Barometer Survey are available at no cost for qualified dental specialists.