If you don’t know how much money you are making as a result of your healthcare marketing activities, it is very likely that you waste A LOT of money on healthcare marketing activities that don’t generate results.
Are you flushing your marketing dollars down the toilet?
If you don’t know how much money you are making as a result of your marketing activities, it is very likely that you waste A LOT of money on marketing activities that don’t generate results.
Measurement is essential to successful healthcare marketing because it is the only way to know the effectiveness of your healthcare marketing activities. Unless you track the revenue generated by every single marketing activity you conduct, you have no way of knowing if your marketing efforts attracted patients to your medical practice.
This is one of the biggest mistakes I see medical practices make in their healthcare marketing efforts. They have no idea what their marketing dollars are doing for them, and they have no idea which marketing efforts generate the best results.
It is only when you know which activities work the best for your medical practice that you can become a healthcare marketing rock star. If you know that direct mail is a homerun tactic for attracting quality patients to your medical practice, then you can reinvest profits into that particular activity. When you measure your medical practice’s marketing activities, you become a marketing powerhouse because you know when to stop conducting a particular marketing activity. You stop when it’s no longer working. And, you only know if it’s working if you are tracking your marketing activities.
How do you measure your healthcare marketing activities?
Tracking. Tracking. Tracking.
There are a variety of ways that you can track each of your medical practice marketing activities depending on the type of healthcare marketing you do. For example, if you conduct a direct mail campaign, the single best way to track how many of your mailers generate leads is by using call tracking.
Call tracking is a very low cost and accurate way to determine whether or not your marketing activities are paying off. On average, it costs about $25 per month for a call tracking number that can be toll-free or customized to match your local area code. Most call tracking companies have sophisticated web-based software that tracks every bit of data available about your caller. In many cases, you can also record calls monitor how well your front desk is handling calls.
When you use call tracking you can determine which marketing materials generate the most leads, and then you can calculate the amount of revenue generated by the tracked marketing activity. To do this, you must track how many callers become patients and then determine how much money they have spent with you. When you do this, you guarantee that you are putting your money in the right place.
The tricky part about measuring the effectiveness of your healthcare marketing activities is setting a time-frame for which you expect to have realized a return. For example, if you institute a direct mailing program, you will have to do more than one mailing to know whether or not mailing is a good tactic for you, so the question becomes how many mailings do you do before you decide the mailing is ineffective, and that depends on your strategy and planning, especially when it comes to mailing because there is certainly a right and wrong way to carry out a mailing strategy.
Track what counts.
The most important factor to keep in mind when it comes to tracking the effectiveness of your healthcare marketing activities is to track how much money a newly acquired patient spends with you. Whether you’re tracking leads from the web using Google Analytics or tracking leads from newspaper ads via call tracking, tracking is essential to healthcare marketing success.
Remember, generating a lot of phone calls only means your marketing is working it doesn’t mean that you are getting a return on your investment. So always measure your marketing activities against the amount of profits they generate, not the number of phone calls you get. You might get only one phone call from a marketing activity that costs you $500 dollars, but that patient could spend $1000 dollars with you so that you double your investment, but you won’t know this unless you track your healthcare marketing activities.