Wall Street is often happy with a 20% return on investment. You shouldn’t be. When you combine a sound marketing plan with strong execution, you can achieve a far greater return from your practice.

Here’s some advice on how to launch an effective marketing campaign from ophthalmological marketing expert Bill Fukui.

• Develop a strategy.
Take a candid look at where you are in the marketing evolution of your practice and determine what you want of out your marketing investment. Do you want image? Education? Direct response? A quick return? Investigate all of your options carefully and create a strategy that will let your marketing work for you. Don’t compromise on your investment and don’t make the mistake of forsaking your marketing campaign if you aren’t impressed by its initial return.
• Commit to invest.
The adage "It takes money to make money" applies to marketing every bit as much as investing. As a rule of thumb, if you want a high level of growth in a very short time, you should anticipate investing as much as 15% of your gross revenues into marketing. For moderate growth, plan on investing about 10%.
• Get a good partner.
Today, more than ever, information is money. To help you stay on track, secure the help of a professional, someone who has extensive experience and can help you make the right choices.