7 Tips for Optimizing the ROI of Private Practice Marketing
Although marketing a private practice is essential to meet patient needs and support the bottom line, doing so effectively can consume precious time and resources. That’s why it’s important to embrace an approach that will help your organization optimize the return on investment (ROI) for your marketing efforts. Fortunately, there are specific steps you can take to do that—which are included in the following seven tips.
1. Take a Big Data approach.
The abundance of digital applications used by consumers today means there’s also an abundance of data by which to gain insights into their needs—as well as how to most effectively reach them. That’s why the effective use of data is essential to optimizing marketing efforts. With the increased use of artificial intelligence and machine learning, marketers can make sense of the mountains of data at their fingertips—and often predict what consumers will want and need next.
2. Know your local market.
A marketing strategy that effectively reaches the patients who can most benefit from your services starts with understanding the needs of prospects in your area. There are a variety of methods to gain such insights, like patient-generated health data (PGHD) and anonymized (de-identified) data sets that reflect disease-specific demographics for specific regions. At AMG, our HIPAA-compliant data gathering process allows you to pull audience lists according to specific conditions.
3. Drill down with data analytics.
Gathering all that data is important—but understanding what it means even more so. That’s why data analytics is such an essential and powerful tool, providing insights beyond the who of data gathering to the what, when, where, and how of both consumer needs and communication preferences. The ability to gain such insights is increasingly important for healthcare marketing, especially for those who practice within a healthcare niche so that valuable marketing resources target the right audiences.
In addition to knowing what your prospects want and need, it’s important to know how to most effectively communicate with them—and data analytics can provide insights into which channels your prospects prefer.
4. Go digital with your results.
Once you understand the disease-specific demographics and needs of your local area—as well as the most effective means of reaching them—you can use these results to inform your digital marketing strategy.
Knowing more about your prospective patients will help you make better marketing decisions—like how to segment your customers and prospects into distinct groups and align with their preferred channels. Once this occurs, you can craft specific digital messages, ads and offers to create a targeted marketing strategy that will provide better results than a more generalized approach.
5. Launch your digital campaign.
With all of this information in hand, your healthcare marketing team can create and launch a campaign that specifically targets the prospects you’re trying to reach. Methods of doing so may include campaign components such as digital display advertising, search engine marketing, and content marketing/social media advertising.
6. Measure your results.
As with any new initiative, monitoring results is key. Doing so will allow you to understand what’s working, what’s not, and what needs to be changed to increase the effectiveness of your efforts. In this light, it’s important to use a marketing platform equipped with the data analytics you need to measure results, gain insights into what adjustments are needed, and support ongoing monitoring once you make those tweaks.
7. Optimize ROI by partnering effectively.
One of the most important aspects of optimizing the ROI of private practice marketing is finding the right marketing partner to help you do it. AMG owns the largest healthcare audience in Alabama through our own online sites and publications, and we use HIPPA-compliant tools to gain unique insights into the local patient market through a disease-specific lens.
With such an approach, we’re able to use our data to effectively connect with prospects through targeted social and digital networks—like we did for Alabama Orthopedic Surgeons. As demonstrated in our digital marketing case study, AMG was able to contribute significantly to Alabama Orthopedic Surgeons’ bottom line.
Want to know more about our healthcare marketing strategy? Let’s talk.
