In order to get the best results, you need to understand your marketing — what works and what does not . If you cannot track the outcomes of individual marketing efforts, you may be throwing money away. When it comes to setting goals for your clinic with healthcare marketing that leads to growing your practice, measurement is essential to successful marketing.
The best way to track the success of your various marketing efforts in order to learn what gets the best results is through the understanding of your data and analytics. A wide range of data and analytics are available today through modern healthcare marketing, and a great opportunity exists to dive into this feedback to maximize effectiveness.
What is marketing analytics?
Marketing analytics is a form of feedback on your marketing efforts. Measuring tools provide metrics to test the results of your various initiatives and help you zero in on the best growth strategy. Profound insights discover customer trends and preferences, determining the best options for your advertising dollars to put towards your medical practice.
What data and analytics are key in healthcare marketing?
Return on investment is a vital metric.
The most important metric to track in healthcare marketing is your return on investment for various advertising costs. To calculate your return on investment for marketing initiatives, your marketing team can help you calculate your average acquisition cost per patient.
Separate channels need separate tracking.
If you are able to separate the different advertising campaigns, you will be able to identify which one gains patients at the lowest cost per marketing dollar spent.
For example, you can review your previous month’s performance for each initiative: How many new leads did your landing page generate? How many of those turned into patients? You can calculate leads and patients from social media, websites, paid ads, etc.
You can identify areas to perfect.
By reviewing this information, you can identify any holes in your process where potential patients may drop off before becoming patients. Is this happening frequently in one of the steps, and if so, what is the cause? Are your bookings too far out to accommodate schedules? Is the point of contact providing top notch customer service and communicating the value of your practice? Or is it something else? As long as you are continually reviewing and evaluating the performance of various marketing channels, you will find room for improvement and ensure that all efforts are well placed.
Additional tools can help.
Other tools can come in handy too, like call tracking when you want to track the number of leads generated from a certain campaign. In search marketing, you can even track keywords to learn exactly what is on the mind of your potential and current patients. Having strong keywords can be helpful in content marketing, where you share your expertise and connect with readers through an online voice.
What are the benefits of utilizing data and analytics?
Save time and money.
Using data to discover what is working best gives you an edge over your competition. Rather than throwing mud at the wall and seeing what sticks, you have a precise and direct assessment of each marketing tool used. This can assure that no marketing dollar goes to waste! Since you can identify an area to continue using in your ad spend, you will save time, money, and energy expended trying different ideas.
Improve customer experience.
Additionally, metrics help identify customer behaviors and trends, providing information that serves as a basis for improvement to your overall patient experience.
When the correct data is harvested and interpreted correctly, identifying KPI (key performance indicators) and monitoring them can help increase your overall patient satisfaction by revealing what your clinic’s patients think of their experience with the services offered by your practice. Patient interactions such as learning general information, booking an appointment, the visit and meeting with their medical professional, billing, and clinic follow up contribute to customer satisfaction.
Make better decisions.
With the proper data and analytics, you can make well-informed decisions on where to spend on healthcare marketing. This will increase your bottom line and grow your practice. To take it a step further, you can introduce the MROI method.
In this approach, multiple ROIs are taken into consideration and insights are integrated. This process reduces bias that may accompany a singular analytic technique and allows business owners to shift the budget in the direction of the best performing areas.
Why is paid social advertising important in healthcare marketing?
In many instances, you will discover that paid social advertising stays at the top of the list for best return on patient acquisition. Why is this? With a well developed and active social media presence, you will stay fresh in the minds of potential patients. When someone shows an interest and visits your website, use re-marketing through social accounts to make an appearance in their news feed. When supported by great reviews, a strong website lending credibility, and trust,paid social ads will continue to bring in new patients.
For more information
To get the best ROI for your healthcare marketing efforts, having an understanding of your data and analytics is crucial. To work with a marketing team that constantly evaluates the best practices and understands the nuances of healthcare marketing, by contacting iProv today at (501) 653-6532.
Create a marketing strategy that emphasizes the strength, quality and
care of your practice