6 Ways to Apply Your Practice Analytics to Your Medical Marketing Efforts
If you want to grow your practice, you need a marketing strategy. Medical marketing can be complicated, and you’ll need a combination of data and marketing know-how to create impactful, profitable marketing campaigns. Tracking key practice analytics like patient satisfaction and claim denial rates, as well as traditional KPIs related to your profitability and growth can help you plan your strategy. Here are 6 ways to apply your practice analytics to your medical marketing efforts.
#1: Geographic Targeting
Let’s start with what might seem like an obvious choice: geography. The chances are very good that most of your patients live or work within a small radius of your practice. Tracking your patients’ zip codes can help you figure out the radius that’s going to be most profitable for you to target.
Once you have a list of zip codes and a calculated radius, you can use that information to figure out your targeting on Facebook and other social media sites. You can encourage patients to leave reviews of your practice and in general, ensure that the people who are most likely to respond to your ads are in your target audience.
#2: Age-Related Targeting
Another medical KPI to track is the average age of your patients. If your practice tends to attract many student athletes with injuries, for example, it would tell you that it would be helpful to target parents of kids in athletics.
Targeting older patients might mean that you focus on an audience of people in your area who follow the AARP on Facebook. There are many ways to use basic demographics about your patients to improve your marketing focus and attract more patients.
#3: Increasing Referrals
If your practice has a referral program, you should know where your referrals are coming from. It’s very common for PTs to partner with physicians for referrals, but what about a patient referral program? If you have a program and you aren’t getting many referrals from it, you might use information about your referral sources to target your existing patients on social media.
For example, practices that incentivize patient referrals can run ads reminding their existing followers of the incentives and encouraging them to make referrals. Social media ads can be useful for this purpose, but general retargeting ads can work too.
#4: Decreasing Your Cost Per Lead
One of the trickiest things in medical marketing is maximizing your marketing budget. Whether you’re running ads on Google or focusing on social media marketing, you want to get the biggest possible bang for your buck.
When you track your cost per lead, you get an idea of which lead sources are the most affordable (and the most expensive.) You can use that information to do two important things:
- Revisit the most expensive sources to see if you can bring costs down by changing your targeting or revamping your ads; and
- Reallocate money in your marketing budget to the sources that are affordable and effective
When an ad is underperforming, it may be a sign that your targeting is off. It may also mean that your ad needs to be improved. Either way, you can use your cost per lead to evaluate your existing marketing mix and fine-tune it to get the results you want.
#5: Updating Your Website
When was the last time you updated your PT practice’s website? If it’s been a while, it might be time to redesign or update it. Tracking your practice analytics can help.
We already talked about geographic targeting, but here’s another angle. If you’re not using important local keywords on your site, you’re likely missing opportunities to connect with patients in your area via organic search.
It may also be helpful to review your bounce rates, conversion rates, and organic traffic to see how people are finding your site and what they’re doing once they’re there. If people are consistently bouncing away from your landing page, it may indicate that your content needs a refresh.
#6: Split Testing
Finally, you can use your key practice analytics to create alternative content for your website, ads, and social media pages and test it to see which options get you the best results.
Split testing involves taking one element of your page, for example, a headline or a call to action, and testing multiple options. Sometimes, even a minor change can lead to a big difference in your results. It’s worth spending some time and money testing because it can pay off in increased lead generation.
Medical marketing has its ups and downs, but data is at the heart of every marketing campaign. The 6 suggestions we’ve made here can help you use the data you collect to fine-tune your marketing and grow your practice.
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