Dental Lab Lead Generation Success

WHAT IS LEAD GENERATION?

Lead generation describes the marketing process of stimulating and capturing interest in a product or service for the purpose of developing sales pipeline.

Lead generation often uses digital channels, and has been undergoing substantial changes in recent years from the rise of new online and social techniques. In particular, the abundance of information readily available online has led to the rise of the “self-directed buyer” and the emergence of new techniques to develop and qualify potential leads before passing them to sales.  

WHY IS LEAD GENERATION IMPORTANT?

The buying process has changed, and marketers need to find new ways to reach buyers and get heard through the noise.  Instead of finding customers with mass advertising and email blasts, marketers must now focus on being found and learn to build continuous relationships with buyers.

Information Abundance and Attention Economics

With the growth of the internet, the world has changed from one of information scarcity to one of information abundance.  In fact, according to Google chairman Eric Schmidt “there was 5 Exabytes of information created between the dawn of civilization and 2003, but that much information is now created every two days and the pace is rapidly increasing”.  

The problem is that information abundance equals attention scarcity. This is known as attention economics. Social scientist Herbert Simon was the first person to discuss this concept when he wrote “in an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes. What information consumes is rather obvious: it consumes the attention of its recipients.”

This has transformed the buying process. Buyers are overwhelmed with all the noise and they are getting better and better at ignoring the messages they don’t want to hear and researching what they do want to learn about on their own.

LEADING DOWN THE FUNNEL

With the new buyer it is important to note that your marketing efforts don’t end once a new lead comes into your system – what we call Top of the Funnel (TOFU) marketing.  Many companies do a good job at generating leads, but the problem is that most new leads are not ready to buy yet.  And if a sales rep does engage and the lead isn’t ready to talk with them, it reinforces the notion that marketing sourced leads are not great. As a result leads get lost, ignored, or snatched up by your competitors.

To prevent this from happening, good lead generation marketers will invest in lead nurturing and other Middle of the Funnel (MOFU) techniques to build relationships and trust—earning the lead’s business once he or she is finally ready to buy. Engage these leads through relevant content and make sure that you get your timing right.

Lead generation has moved beyond simply discussing TOFU. In order to have a holistic strategy, MOFU marketing must be included in all your strategic discussions to make sure that you have a good process for turning leads into sales.

LEAD GENERATION RESEARCH

Many marketing departments are allocating more budget to lead generation tactics. Inbound marketing spend in particular has been growing as companies need to find more creative ways to get in front of the customer and break through the noise.

“Life before Dental Lab Support was like being in the dark ages. Dental Lab Support has put us into the modern era of marketing and increased lead generation by 71% year-over-year and increased sales by 18%.” - James Park, Crowns R Us Dental Lab,

COMMON LEAD GENERATION METRICS

The best marketing programs have intentional measurement strategies planned in advance. So as part of the planning process ask yourself these questions: What will you measure? When will you measure? How will you measure? Here are some basic lead generation metrics that many companies track as part of their lead generation efforts:

• Marketing % of contribution to sales pipeline: The % of revenue in the sales pipeline (opportunities) that originated from marketing efforts
• Marketing % of contribution to closed revenue: The % of revenue in closed won deals that originated from marketing efforts
• Quantity of Sales Qualified Leads: The amount of SQLs sent over to your sales teams
• Quality of SQLs: The % of SQLs not rejected by sales
• Cost per inquiry: Total lead acquisition cost/ the total number of inquiries
• Cost per  lead: Total campaign costs/quantity of leads
• Inquiry to Marketing Qualified Lead (MQL): Conversion of initial inquiry to Marketing Qualified Lead
• MQL to Sales Accepted Lead (SAL): Conversion from MQL to Sales Accepted Lead
• SAL to Sales Qualified Lead (SQL): Conversion from SAL to Sales Qualified Lead
• SQL to Opportunity:  Conversion from SQL to Opportunity

Dental Lab LEAD GENERATION RESOURCES

See how you can increase effectiveness across all business functions by generating more qualified leads, amplifying sales pipeline velocity, and improving sales and marketing alignment through leveraging lead generation Dental Lab Support Lead Generation Services.

www.DentalLabSupport.com

1.888.715.9099

3 Reasons Why Your Dental Lab Needs Evident's Dental Lab Management Software

Face it: you simply don’t have time to research every single dental lab management software available on the market. You need one, single dental lab software system that’s both simple to use and powerful. That’s why you’ll love Evident’s dental lab management software.

Evident’s lab management software offers an extensive suite of tools from case scheduling to a dentist portal, but more than that, it’s an intuitive system that enables you to manage your dental labs more easily. In fact, here are 3 reasons why your dental lab needs Evident’s dental lab management software:

1) Secure Cloud-Based Software

Since Evident’s system is cloud-based, all your data is centralized and safe. This cutting edge technology keeps your information up-to-date, instantly backed up, and accessible anywhere at any time. Say goodbye to server costs and hello to your digital lab!

2) Simple Case Scheduler

Give your dentist the instant turnaround quotes they want with Evident’s simple case scheduler.  The case scheduler increases productivity and profitability while decreasing remake rates because you can track cases every step of the way using touchscreen devices or barcode scanners. Now that’s simple.

3) One-Click Payment Processing

Save time on billing by processing all your doctors’ payments with a single click. Plus, your doctors will appreciate the option of either paying online or being setup for automated billing rather than being forced into one option or the other. Win-Win.

Unburden your time with Evident’s secure cloud-based software, simple case scheduler, and one-click payment processing. On average, Evident users save approximately 8 hours every month - what would you do with an extra free day?

Evident is backed by NADL, the Dental Industry Association of Canada, QuickBooks, and UPS. 

Dental Lab Solutions: Solving the Problem of Dental Techs' Attitudes Towards Certification

Thank you for reading last week’s post about the problem and solution to USA dental tech certification becoming increasingly unavailable. This week we tackle the problem of dental technicians' attitudes towards certification; chiefly, modern dental technicians don't care to be certified.

Problem #2: Dental technician certification is either not required or unimportant to dental techs

Unlike their predecessors, new dental technicians do not consider certification important and instead reason that gaining several years' experience will enable them to sufficiently perform their duties.

Solution: Dental lab owners must emphasize the benefits of certification through their hiring decisions.

Although the problem of dental techs' attitudes towards certification go hand-in-hand with the problem of dental tech certification becoming increasingly unavailable, dental lab owners do have some power in this situation. Dental lab owners must publicly announce the beneficial differences between what an uncertified and a certified tech can earn at their dental lab. 

In your job ads, don't be shy to display outright the salary range you're willing to offer to a certified dental tech vs an uncertified dental tech. Make it clear that certified technicians will require less micromanagement, have more freedom, and be placed on a faster track to salary increases and bonuses. Explicit salary increases and the opportunity to eventually operate their own dental lab are great incentives to reshape dental lab technicians' attitudes towards certification.

Dental tech certification enables the dental community to have faith in the quality of custom crowns being produced. Dental lab certification is especially necessary now more than ever as offshore dental labs and digital machines threaten the existence of the dental technician industry.

By explicitly announcing your dental lab's need for a certified dental tech, you are asserting the importance of a quality-controlled set of skills and requirements to your business. Plus, dental technicians who feel they must be certified are more likely to take greater responsibility for their designs, thereby branding your dental lab as a reliable lab with highly skilled technicians and unbeatable product quality.

Thank you for joining us again this week and please stop by on Thursday, July 23 as we address the 3rd problem of the 4 Major Problems in the Dental Laboratory Industry: offshore dental labs grow, creating unequal competition with USA dental labs.

Dental Lab Solutions: Solving the Problem of USA Dental Technician Certification becoming Increasingly Unavailable

Thank you for reading last week’s post about the 4 Major Problems in the Dental Laboratory Industry. As promised, this week, we're sharing a simple solution to the problem of USA dental technician certification becoming increasingly unavailable. Keep reading as we dismantle this issue in the dental lab industry:

Problem #1: USA dental technician certification is increasingly becoming unavailable

When there are fewer opportunities (i.e. dental lab schools) available, dental labs obviously experience more difficulty finding skilled dental lab techs. 

Solution: If you’re one of the few, fortunate, large-sized dental laboratories, the solution is for you to offer training programs to educate recently graduated technicians. 

Small- and mid-sized dental laboratories may not have the funding to offer training programs, but can offer on-site training instead. 

Worried about your dental lab tech taking advantage of your on-the-job training and leaving you for a larger lab? Determine the cost of on-the-job training to your business and factor this into the work contract with a stipulation along the lines of “[EMPLOYEE] agrees to work for [MY DENTAL LAB] for a consecutive period of at least [TIME DURATION e.g. 12 months] otherwise [EMPLOYEE] agrees to repay [MY DENTAL LAB] for the cost of on-the-job training, [$$]”*.

While standardized testing and certification is necessary for the future, on-the-site dental lab tech training is benefits the dental community at large.

Thanks for joining us this week, and remember to check in again next Thursday when we answer part 2 of the 4 Major Problems in the Dental Laboratory Industry: Dental technician certification is either not required or unimportant to dental techs.

*Dental Lab Support is a marketing and consulting agency for dental laboratories. Please speak with an attorney prior to creating a work agreement. Dental Lab Support retains no liability for employment contracts.