Digital Marketing Is Taking Over Healthcare: Here's How
It’s a David and Goliath story. With massive marketing budgets of 10% of revenue, large medical institutes and hospitals are out spending physicians, but here’s now to fight back. The majority of this ad spend goes to mass media - TV, radio, and billboards. In a day and age where most people have their faces glued to their iPhones, it’s no wonder the conversion on these types of mass media is horribly low. A potential patient/lead acquired from these sources converts at 1.7%. And on top of that, the ability to adjust mass media campaigns is virtually non-existent along with a lack of reporting and trackable results.
For years, the majority of physicians relied on insurance companies and personal referrals to drive their businesses and marketing wasn’t considered necessary to grow their practices. Any form of advertising they chose to do was simply an add-on and not considered mission critical for the survival of their business. But in 2018, things are much different, even if a patient finds a doctor through an insurance company, they’ll still Google them, read patient reviews, and visit the practice website before deciding to schedule an appointment.
A Deloitte study found that 52 percent of consumers search online for information about treatment options to learn about health concerns, symptoms or care providers. Someone that does online research is 44% more likely to make an appointment when done over mobile. Patients are just more informed than they used to be since the ability to get any kind of information from the web is at the tips of our fingers.
Enter digital marketing.
Not only is digital trackable with Google and Facebook analytics, but it is also extremely targeted. No more trying to compete for everyone in your geographical location by arbitrarily spending your ad budget on things no one is paying attention to. Through a multi-channel digital advertising approach, we can target patients on multiple platforms where they’re attention really is - social media platforms. The average person spends 2 hours a day (A DAY!) browsing social media. Facebook reported March 2017 saying the social network had 1.4 billion users login month over month and 1.25 billion people who do so via mobile. That’s a lot of attention.
With this tactical approach to driving leads and sales, we are now able to step in the ring with the large health and medical institutes who mistakenly buddy up with holding companies like WPP, and MediaLink that push the profitable products for themselves. Because of this disservice to their clients, the cost passed down to them goes through the roof with an average of $147 PCM (100 impressions) for traditional advertising as opposed to $5 CPM for digital, which is clearly the winner of this week’s cage match.
Creating a digital marketing plan can be daunting for anyone, especially if you aren’t familiar with the full range of channels that are available today -- from landing pages and social media to Facebook messenger and online advertising. Fortunately, here at Metaphase Marketing, we have you covered. Drop me a message and we’ll put together a custom plan that you can immediately implement to see results in your business.