Various benchmarks are employed to gauge achievements when discussing data analytics and assessing ROI. These include website traffic, the number of fresh connections established, and fluctuations in revenue – a set of valuable metrics deserving consideration within any marketing report.
Nevertheless, the digital marketing landscape offers diverse yardsticks for measuring triumph, with definitions of success varying between industries. Elevate your practice through strategic medical clinic advertising. This variance is particularly evident within the healthcare sector. Get noticed with targeted medical clinic advertising.
In the realm of healthcare, the primary thrust of marketing endeavours often revolves around the attraction and retention of new patients. For your digital marketing strategy to evolve effectively, data scrutiny should prioritise acquiring and preserving customers or patients in this context. Boost your medical clinic practice with the medical clinic advertising with Rx Growth.
Outlined below are the fundamental seven metrics that warrant regular analysis.
1. Patient Acquisition Cost
stands as the most appropriate metric, serving as the foundation for your entire marketing budget. The inquiry arises: What is the expense incurred to secure a novel patient? It is imperative to recognise that diverse origins—referrals, paid search, social media, or others—might entail varying costs per lead, all contributing valuable channels for improving fresh patients.
One crucial thing to remember is the long-term worth embedded in a patient’s journey, which is of utmost importance. While spending money for each new patient may seem like a significant amount, it becomes apparent when you compare it to the potential lifetime value of a patient, which could exceed your spent money. This makes the initial investment wise and worthwhile.
Calculation:
In traditional marketing, the customary approach involves dividing the aggregate marketing expenses incurred over a specific timeframe by the tally of newly acquired patients. This technique, however, merely furnishes a superficial overview, lacking the capacity for an in-depth analysis of the efficacy of individual initiatives in driving patient influx.
Conversely, within digital marketing, a unique advantage emerges the ability to meticulously trace the track of a prospect, commencing from a Pay-Per-Click (PPC) advertisement, progressing through a landing page conversion, and culminating in patient status.
Similarly, one can trace the journey from a social media post, traversing through a “Contact Us” form submission and culminating in becoming a patient. Within these sequential activities, distinct cost-per-customer benchmarks materialise, offering a granular perspective. This involved scrutiny enables us to discern and illuminate the most effective areas for directing prudent budgetary allocations based on what is supremely efficacious within your market milieu.
2. Calculating the Equation
In traditional marketing, the customary method divides the cumulative marketing expenses incurred during a specific timeframe by the count of newly acquired patients. However, this approach merely provides a surface-level overview, needing more capability to thoroughly analyse the effectiveness of individual initiatives in driving the influx of patients.
Conversely, digital marketing offers a distinctive advantage—the meticulous tracing of a prospect’s journey, beginning with a Pay-Per-Click (PPC) advertisement, advancing through a landing page conversion, and achieving patient status. Similarly, one can trace the path from a social media post through a “Contact Us” form submission, culminating in becoming a patient.
Within these sequential activities, distinct cost-per-customer benchmarks emerge, offering a detailed perspective. This meticulous analysis empowers us to identify and highlight the most effective areas for judiciously allocating budgets based on what proves to be highly effective within your market context.
Calculation
To determine patient retention rates, you should know your current count of existing patients and the number of patients you acquired or lost within a specified time frame. If mathematics isn’t your forte, Inc.com provides a convenient formula that simplifies the calculation of your retention rate.
3. Response Time for Customer Service
This metric often poses challenges for healthcare organisations. While customer service may seem more associated with shopping, that assumption is incorrect. Exceptional customer service is paramount to distinguishing your healthcare institution from the competition. This holds even more significance in today’s digital era, where negative feedback and complaints can swiftly spread across online platforms.
Patients are concerned not only about their treatment and experiences during appointments but also extend their scrutiny beyond the confines of your facility. This encompasses appointment reminders, follow-ups, and the promptness of responses to their queries and concerns. The quality of care and attention they receive can be pivotal in cementing or fracturing your relationship with them.
Establish measurable objectives for your staff, considering email and phone response times and factoring in social media response times. Bear in mind that social media users anticipate receiving responses within the span of an hour.
Calculation
Facebook has now initiated monitoring customer service response time for brand pages. You can also instruct your digital team to record each incoming inquiry’s timestamp and each response’s corresponding timestamp.
4. Engagement Metrics
Engagement metrics are often categorised as “soft metrics,” lacking a direct demonstration of ROI. Nevertheless, these metrics are vital in assessing overall brand recognition and how much your message permeates the market. Additionally, leveraging marketing automation platforms enables the association of patients with specific origins, furnishing insights into their entry points within your database.
For instance, social media marketing tools can help to use the “Sources” report, showcasing the conversion of social media leads into customers. Furthermore, custom lead scoring can be implemented, assigning contact points based on specific actions like checklist downloads or email interactions.
This approach proves invaluable in gauging engagement, allowing you to swiftly identify the leads that interact most actively with your content, as indicated by their accumulated score.
Calculation
Social media marketing tools monitor the progression of leads and analyse their scores over time to identify a potential optimum score that indicates an impending transition into a patient or customer.
5. Assessing the Impact of Premium Content
Speaking of content, it’s crucial to continually analyse your premium content pieces’ effectiveness. Which ones receive the highest download rates? Which ones exhibit a superior lead-to-customer conversion ratio? Gaining insights into these aspects will be a compass for your forthcoming content strategy. Furthermore, it empowers you to identify which resources warrant revision or retirement.
For instance, if your “Preparations Before Surgery” checklist garners the most leads through social media, it could be a viable candidate for testing in PPC (pay-per-click) advertisements. On the other hand, if an infographic like “Essential Insights for a Healthy Heart” generated substantial leads a couple of years ago but has experienced a decline recently, it might be prudent to refresh it with updated graphics.
Calculation
Monitor the conversion rate for every landing page (percentage of views leading to form submissions). If you’re experiencing substantial page views but a meagre submission rate, consider revisiting the layout of your landing page or assessing if your content accurately reflects the value of the resource. While developing fresh content remains essential, take notice of the ongoing enhancement and revitalisation of your existing pieces.
For a more comprehensive approach, delve further by tracking the customer conversion rate (percentage of views translating into customers). Craft campaigns centred around your most potent content performers to maximise impact.
6. Tracking Search Engine Rankings
This metric holds significant importance across industries, particularly in healthcare, where local search positioning plays a pivotal role in drawing new patients. Keep a vigilant watch over your rankings for branded and non-branded keywords pertinent to your organisation.
Furthermore, closely monitor each keyword’s difficulty level and monthly search volume. Occasionally, you might come across a “low hanging fruit” keyword with a low difficulty score and substantial monthly searches, which presents an attainable ranking opportunity. Subsequently, fine-tune your website’s keyword optimisation strategy as required.
Calculation
Numerous excellent tools enable you to assess your keyword rankings and compare your performance with competitors. Consider utilising the social media marketing Keyword Tool for this purpose.
7. Comprehensive Campaign Assessment
Consider this akin to a condensed report in itself. Upon concluding each campaign, start on a recap to appraise its level of success. Different campaigns naturally encompass distinct objectives. For instance, an “April Heart Health” campaign might primarily aim to enhance issue awareness, thereby warranting metrics oriented towards engagement tracking.
In contrast, a “Schedule Your Annual Check-up” campaign could involve elevating awareness and boosting the count of scheduled appointments, necessitating metrics encompassing engagement and revenue aspects. Evaluating your movement in alignment with its initial goals aids in gauging its triumph and offers insights for refining strategies and devising future campaigns.
Tracking and measuring success:
For doctors, tracking and measuring success is essential, and they have powerful tools. Google Analytics helps them monitor website traffic and user behaviour, while call tracking allows them to assess the effectiveness of their marketing efforts.
Conversion rates provide insights into how well their website and marketing campaigns convert visitors into patients. Furthermore, examining the expenses associated with acquiring patients assists doctors in making informed choices regarding their marketing budgets and strategies, guaranteeing they achieve the most favourable return on investment.
Conclusion
Digital marketing has guided an extensive data deluge, and the challenge lies in decoding its significance. Which metrics have you previously employed, and how are you adjusting your analysis techniques? Transform your medical practice with customised digital marketing.
To delve deeper into strategies for connecting and fascinating diverse audiences, explore our comprehensive guide on effective healthcare marketing strategies. Harness the power of digital marketing for medical practice’s success.
Read More:
PPC for Doctors: The Doctor’s Ultimate Guide to PPC Success
Top 3 Advertisement Strategies for Doctors
Top 10 Best Digital Marketing Tips for Doctors in India
Content Marketing for Doctors
7 Easy Steps to Create the Best Website for Doctors – Rx Growth
