Why Social Media Is Often a Loss Leader for Private Practices

Episode 31

A 2023 survey by HubSpot found that 50% of businesses struggle to measure the ROI of their social media efforts, making it a common loss leader when not strategically managed. For private practices, this number is likely higher. When Brandon asks small practice owners about their social media goals, the most common answer is: "I need to have a presence." That's not a strategy — it's an expense.

The Real Reason Social Media Fails

Two root causes: there are no predefined metrics driving toward transformation, and the wrong people are doing the job. Brandon warns against assigning social media to employees because they enjoy it or need something to fill downtime. The minute you measure social media with financial accountability — 'generate $100,000 in revenue this year' — the creative enthusiasm disappears. Social media must be treated as a business function, not an employee benefit.

Turning a Loss Leader Into a Revenue Strategy

Brandon's challenge to every practice owner: tag every new client source. Track which clients came in as a result of social media. Then calculate the net benefit of that client acquisition against all time and expense invested in social media creation and management. If the math doesn't work, stop justifying the spend. If it does — double down strategically. As Gary Vaynerchuk said: social media creates the illusion of engagement. Without strategy, it's just noise.