Healthcare Marketing in a Down Economy
Is the economy making you ask yourself, "How much should we be spending on our marketing efforts? How do we know we are maximizing our position? What might we do differently to stand out in the market place? Could we focus some efforts to do more with less? If you have these questions, you are not alone!
The economy has everyone challenged today. Bad debts are rising, elective procedures are on hold, and the unemployed ranks are rising. Your market share may be holding, but the bottom line seems to be shrinking.
Where do you start? Cut the marketing budget? Increase it? Stay the course? Change your focus? Before you answer these questions, consider the following:
What do you know about your current patients and most loyal followers? What do they need from you right now?
In many markets, what those most loyal to you need is assurance that you are there with them during these hard times... that your mission includes them... that whatever they face, you face it with them.
This is a great time to look at your outreach activities, and expand them...give away screenings and help those on cholesterol lowering medications afford their liver function tests...keep those free cholesterol checks out there....find ways to be relevant to those most likely to bounce back with the economy.
Consider walk-in clinics that offer free blood pressure checks, reduced rates on flu shots, etc.; try to provide those items good for the individual that are also good for the general public. For example...flu season...consider flu testing to help stop the spread.
This is the time you can take those most loyal to your organization and lock them in for life... and those who are somewhat loyal will come over to very loyal.
As for the marketing budget, focus on the critical few, and use the resources to capture those few service lines with the most potential. Don't spread a few dollars around everywhere hoping for the best. Even if you take your budget and spend it on your strongest service line, and/or the one with the most potential, you'll come out ahead at the end of the year.
Healthcare Marketing in a Down Economy - To learn more about this author, visit Candace Quinn's Website.
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