The Importance of a Multi-Faceted Marketing Approach

Have you ever completed a new marketing campaign (whether it be direct mail, newspaper ad, or Facebook ad) and you’re waiting for the phone to ring, but it just doesn’t? Or maybe the phone does ring, you set a few appointments and sell a couple of units, but it’s not nearly what you expected for the money you spent.

During the time you spend reflecting on this result, a big question you need to ask yourself is: how many touchpoints did I have with my potential patients?

According to SalesForce, it takes six to eight touchpoints to create a real sales lead. When a patient receives a direct mail piece from a practice or sees a newspaper ad – that’s one! The goal of a multi-faceted approach, as part of your omnichannel marketing strategy, is to maximize the number of times a potential customer sees your practice, keeping a consistent brand image, and improving the overall customer experience. Utilizing a tool like the Consult Database Program can ensure that your practice name and brand becomes top of mind – and you always want to stay top of mind with your existing or potential patients.

When looking at your overall marketing approach, there are a few things you want to think about before you get into the fine details of the plan:

  1. How many times do potential customers see your practice in advertisements?
  2. How many different avenues do you utilize in your marketing?
  3. How many competitors are located in your target zone?
  4. Are you tracking all the sources of all your referrals and leads?
  5. Do you know your most productive marketing tool?
  6. How do most new patients say they found out about your practice?

Thinking about these key questions will help you judge where your current marketing strategy may be lacking and what other creative ways you may be able to reach your audience! The third question is especially important when considering the overall strategy. If there’s a higher level of competition in your area, you want to keep your marketing program constant and consistent to make sure your practice stands out and stays ahead of the competition. Brand awareness is key to driving patients through the door.

Now let’s discuss what exactly a multi-touch marketing campaign is and how it works. Imagine you’re flipping through your favorite magazine and see an ad with a coupon for a fall festival at a local amusement park. This might be something you’re interested in, but the magazine will likely end up in the recycling bin, and the ad will be forgotten. This is the same type of single touchpoint that a one-off direct mail piece or newspaper ad creates. Now imagine you read that ad in the morning, and on your way to the store in the evening, while you’re stopped at a red light, a commercial for that amusement park comes on the radio! A few minutes later, driving down the highway, you look up, and there’s another ad for that same amusement park!

Now according to the six to eight touch point rule, you are between 37 percent and 50 percent more likely to go home and look for the coupon in the ad.

While this is a grand example, the key principles remain the same: multiple channels of communication, close succession, and consistency! Each ad acts as a follow up to the previous one, keeping your brand top of mind with potential customers. For your practice, this is like a phone call follow up on a database mailer, an email matching a direct mail piece, or a Facebook ad that mirrors a print ad. This multi-faceted approach is achieved through a full and consistent marketing plan that utilizes multiple sources of communication.

If you feel like this is something you could improve upon or you’re looking for a comprehensive marketing plan – you can always reach out to Consult YHN’s marketing team for assistance! We can help you create a 12-month marketing plan that’s guaranteed to raise brand awareness, increase opportunities, and drive sales.

About the Author

Matt Gargano joined Consult YHN in 2019 and serves as a Marketing Account Executive, developing marketing plans and managing various projects for Associates. Prior to joining Consult YHN, he has worked in Financial Services, Non-Profit, and Education. Outside of work, Matt enjoys managing his farm, all outdoor activities, and writing music.

Community Outreach: Do It Right & Drive More Sales

Hopefully, you’ve spent 2019 focusing on your practice. Not just making sure you’re selling hearing aids but working on the internal health of the business: You’ve completed a pricing analysis, ensured every employee has the right training to be successful, and you’re executing a marketing plan (hopefully with Consult YHN managing it!).

But you haven’t brought yourself to do community outreach.

Why not?

Relationship
Even if your marketing is driving new leads and helping to grow your practice, more than two-thirds (69 percent) of the American public trust doctors’ honesty and integrity and want to have a relationship with their provider.

Whether it’s a health fair or the monthly hearing seminar you hold at your local active-living community, meeting potential patients at a community event starts the patient/provider relationship before the appointment. It’s always better to have an established relationship with someone before you ask them to spend money. It can also make asking for the sale easier during the appointment because they are not considered a stranger. You’ve learned personal details about this person (the voice and laugh they miss hearing or how long they’ve missed out on calls with their grandkids, etc.).

Public Speaking
A fear of public speaking often keeps providers from starting a community outreach strategy. The first step to getting out of that mindset is: to believe in yourself! If you don’t like standing in front of a group and teaching, consider attending a health fair where the atmosphere may be more casual, and you don’t have to prepare a speech or slides. Remember that you’re the professional and you’re there to educate the public on what healthy hearing means to their life—from missing out on their favorite songs to how it can relate to comorbidities, like heart disease or diabetes. By reinforcing that you’re the local expert, you can win over potential patients who may be receiving your marketing materials, but didn’t respond because they don’t know you.

Physician & Patient Referrals
Community outreach events can also help strengthen your physician and patient referral programs. You may not be the only health professional at a particular health fair, so by making connections with related exhibitors, you can work together and refer leads to one another’s booths. You may also reach a person who’s loved one is experiencing hearing loss and can provide them collateral to review at home.

Local Partnerships
If you’re still not sure about finding or hosting community events on your own, link up with local societies with service-minded missions. Did you know Lions Club International has a hearing aid program for its members? The organization accepts old hearing devices for recycling and will typically work with local providers to offer screening events for members! There is also the Walk4Hearing, a national program that focuses on raising awareness about hearing loss and hearing health. Fundraising for a local walk sends the message that you are a provider who cares about helping your community—not one who’s just looking to sell hearing aids. It also gives you easy talking points related to general hearing health.

Another great resource is Sertoma, Inc. (formerly known as Sertoma International), which is an organization of service clubs across the country dedicated to improving the quality of life for those impacted by hearing loss. Their website offers a wealth of community events help, from accepting donated hearing aids to information about how to start your own local Sertoma Club (if there isn’t already one in your area). Being the hearing practice that opens a local chapter of the Sertoma Club may be the best way to make yourself the local hearing health expert, regardless of the level of competition you have in your area.

Not sure how often to host or participate in community events? We recommend our Associates do (at least) quarterly events. This provides enough time for event collateral and/or presentations to be developed without stressing about deadlines. You’ll also have enough time after each event to follow-up with any leads. You should call everyone you meet within 24 hours after each event to thank them for attending and to schedule a time to come in for their free screening (if you didn’t offer one on-site). You also want to ensure that every name that you collect gets entered into your practice management system using relevant referral sources. This will allow you to build the “prospect” segment within your database so you can reach out on a regular basis. Even if they’re not ready to address their hearing health right now, you want to ensure that your practice is the first one they call the moment they are ready.

Nine Marketing ROI Stats That Might Surprise You

Is your marketing working?

In other words, is it generating business in a profitable way?

If your answer is “no” or “I don’t know,” then read on to find out why it’s important to have a clear understanding of your marketing return on investment (ROI) and its impact on your business.

First, let’s define marketing ROI: It’s the practice of attributing profit and revenue growth to the impact of your marketing initiatives. Simply put, if you spend money on marketing, it measures your return.

Now, let’s discuss why your marketing ROI matters. Here are the top three reasons it’s a critical element of your overall business strategy:

  1. You can identify any “red flags” or missteps in your current marketing strategy so that you can make the necessary adjustments to drive greater results. For example, if your call response rate for your marketing initiative is below the industry benchmark, you might need to reevaluate your target audience.
  2. You can make informed decisions about allocating your marketing budget and creating your marketing plan for the coming year. If you don’t know what works and what doesn’t, then you’re essentially gambling with your investment.
  3. You can analyze your ROI data and know for certain if and how much your marketing efforts are contributing to revenue growth.

Now that you understand why marketing ROI is important, we can dive into the fun part—the data!

We reviewed a year and half of data from a select group of practices and below are some insights and benchmarks we uncovered. Some stats might surprise you or, more importantly, motivate you to take a closer look at your own marketing strategy and reevaluate your plan for 2020:
  1. Direct mail still works— in 2018 and 2019, our practices sent out 525 direct mail campaigns, yielding an average of $1,320 in profit per campaign. Find out if your own direct mail campaigns are successful with our Direct Mail Calculator.
  2. Thinking about advertising in your local magazine? You might want to give that a second thought! With a high cost-per-campaign and a negative return, magazine advertising serves more as a brand awareness tool than a true opportunity driver.
  3. Patients routinely check your digital properties before picking up the phone. 421 digital campaigns resulted in 2,935 calls with a total profit of $1,058 per campaign—a whopping 502 percent return!
  4. Over half (55 percent) of our Associates’ referrals come from physicians. This is encouraging because patients that come from a trusted opportunity source are more ready to buy. So, keep working to establish relationships with physicians in your area!
  5. Five thousand direct mail pieces resulted in 15 calls and 6 appointments with an average response rate of 31 percent. Although this appears low, the industry benchmark for response rates is 0.25-0.50 percent.
  6. Wouldn’t you like to make two months’ revenue in just three days? It’s possible with the Consult Upgrade Program! A total of 32 upgrade events averaged $58,000 in total revenue.
  7. Did you know that 40 percent of co-op dollars available are currently going unused? Every co-op dollar spent results in $5.39 in revenue for our Associates. If you’re not taking advantage of your co-op dollars, let our marketing team help you use them strategically.
  8. Calling Out of Warranty (OOW) patients generated an additional $215,000 in profits for our Associates while calling Tested Not Sold (TNS) patients yielded an extra $86,000 in profits. So, pick up the phone! Or, better yet, let Your Patient Contact Center do it for you.
  9. Due to blank categories in our Associates’ practice management systems, there was nearly $1.7 million in revenue unaccounted for. Meaning, many practices don’t know where all of their revenue is coming from each month. Don’t be one of those practices — let our marketing team help you establish an organized process for labeling opportunity sources in your practice management software.

*Based on the Marketing ROI data from a select group of practices between Jan. 2018 – June 2019

Consult YHN’s Quarterly Marketing ROI Reports offer invaluable insights that ensure every marketing dollar spent today is growing your practice for the future. If you don’t already receive a report, talk to your Account Manager to find out how you can!

About the Author

Laura Kegelman joined Consult YHN in 2018 and currently serves as a Strategic Planning Analyst. Her diverse professional background includes supply chain, forecasting, and marketing. Laura holds a degree in marketing from West Chester University in Pennsylvania. When she’s not working, Laura loves exploring the city she lives in (Philadelphia) as well as traveling to new cities and countries.

Three Reasons Why You Should Mine Your Data

You’ve been practicing for years and everyone in town knows who you are, but you’re not increasing the number of patients you help each year. If this describes your practice, you’re not alone! In fact, this is a common concern we hear from our Associates—they’re working hard, feel busy, and yet, the number of patients helped, and revenue generated is not increasing.

So, what can you do to reach more quality people? If you’re thinking the answer is “marketing,” you’re correct. However, it’s important not to get so focused on marketing to new patients that you forget – you’re already sitting on a patient gold mine: your database!

Whether it’s through a sophisticated practice management system or less sophisticated paper folders in a metal cabinet, you’re already keeping great records of your patients and tracking everything. Obviously, organization is key. But what you do with the data makes all the difference, especially with patient touchpoints.

We call this data mining and here are three reasons you should mine your data regularly:

#1. Stay Connected with Your Patients

If you’ve been on an airplane lately, then you’ve probably heard the flight attendant say something along the lines of: “We know you have many options for your air travel needs.” This is a very true statement and it’s not limited to the airline business—it applies to every business, even yours. Touching base with your patients regularly (at least twice a year) gives you a chance to show you’re thinking about their well-being and thank them for choosing you as their trusted hearing healthcare provider. This will also remind patients of the wonderful experience they had with you, making them less likely to go to one of your competitors.

#2. Help More Patients

Based on Consult YHN’s studies, 60 percent of patients with hearing loss will not purchase hearing aids during their first visit. That means, if you’re seeing 300 patients a year, 180 are leaving your office without accepting help. When you reach out to those patients, you can restate the impact hearing loss has on their overall health and remind them how you can help (yearly check-ups and cleanings, hearing aid troubleshooting, upgraded technology, etc.). This will fill your schedule with quality opportunities.

For example: If you’re a five-year-old practice seeing 25 patients per month, then you are helping 10 patients while 15 patients leave untreated. At this point, you could have about 900 patients that were tested but didn’t accept help as well as a database of about 600 patients whose technology is out of warranty. Over the next 3-4 years, you want to stay connected with those patients so that when new and improved technology is released, you can fit them with an even better device.

Our tracked data shows that for every 38 letters sent to patients for either new or upgraded technology, one appointment is scheduled. For every appointment scheduled, we see one hearing aid sold. From a business standpoint, think about what that can do for your revenue: if you reach out to 300 patients a year, you could possibly sell eight hearing aids for an additional $16,000 in revenue (assuming an Average Selling Price of $2,100 per device). The Consult Upgrade program is by far one of the most effective ways to reach your patients, with the average event yielding more than $51,000 in revenue.

#3. Minimal Effort and Costs

You’re already spending the right amount on your annual marketing, so what’s the cost associated with sending letters to patients? Minimal at best, especially compared to the average cost of a new patient: $760.

You can find several customizable database letters on Consult’s MarketSource that are proven to drive appointments. All you need to do is export well-constructed lists from your database and perform a simple mail merge to personalize the letters for each patient. Or, you can let Consult YHN’s marketing professionals handle all of this for you. From designing to mailing to reporting, we can execute a 12-month strategy for you so that you and your staff can focus on other important responsibilities, like follow-up calls, scheduling appointments, and more.

Starting mining for gold today! Reach out to your Account Manager to learn how Consult YHN can help you implement a database mailer strategy that drives results.  

About the Author

Kimberly Costanzo joined Consult YHN in 2017 and currently serves as a Business Analyst. Her diverse professional background includes revenue accounting, internal audit, system support, and project management. She holds an MBA from Stockton University in New Jersey. When not working, Kimberly enjoys spending time with her husband Chris and her daughter, Gianna, either at the local playground or playing competitive matches of Go Fish. She also serves on her daughter’s school board and volunteers in the community to promote emergency awareness.

Physician Marketing: The Why & How

In order for your practice to thrive in 2019, it’s essential that you have a well-rounded, multi-channel marketing plan. This plan should include database outreach to ensure your patients continue to be your patients, traditional media like direct mail, digital marketing which may include PPC, and referral programs—both for patients and your community physicians. If you don’t have an active physician referral program, you may be wondering, “Why are physician referrals so important?”

Being a primary physician’s top-of-mind local hearing healthcare partner strengthens the patient relationship with both providers. Patients trust their primary care physician (PCP) with their whole-body health and, in turn, will trust you as an “extension” of their primary care team.

Here’s how to implement and execute a successful physician marketing program:

  1. Devise a target provider list – You won’t be able to visit everyone, and you won’t be remembered by everyone that you do see. So, create a hierarchy of relationships. Identify who your “A-lister” and “B-lister” PCPs are (i.e. the most reliable referring physicians that you already have relationships with). This is one example of why proper tracking in your practice management system is so important. You’ll also want to create a third tier that includes physicians who may have referred patients to you in the past and therefore, you may want to build better relationships with those providers.
  1. Target your message – Consider this startling fact: 95 percent of physicians understand that hearing loss negatively affects older adults, but studies show only 14 percent of physicians screen for hearing loss. Most PCPs are also busy seeing patients, day-in-and-day-out, especially as 10,000 baby boomers retire each day. So, when you first reach out to physicians, your message should be direct, concise, and center around the shared quality of care you both provide.
  1. Do your research – Find out who is responsible for referrals and what their internal process is. Does the physician make referrals on a script pad or does he/she give a business card to patients? Does a referral coordinator set up appointments for patients or does the practice rely on its patients to call?
  1. Determine what collateral you may need – Does the PCP you’re visiting need convincing health data to back up how important hearing health is, or does he/she want collateral to give to patients about how hearing is connected to their overall well-being? Does the referral coordinator use fax forms or does the doctor prefer to hand out business cards? Before each visit, make sure you’re well-stocked with the appropriate collateral for that PCP, including up-to-date health information for both the providers as well as the patients. This effort shows your commitment to the partnership. Consult’s MarketSource has a large selection of expertly-designed patient and physician marketing collateral which can be personalized for your practice.
  1. Develop the relationship – Remember, this isn’t a sprint. A truly successful physician referral program takes time to build and nurture; you don’t help anyone by pestering busy PCPs for five weeks and then disappearing. By creating an outreach calendar and sticking with the plan for months (then years!), you’ll build a partnership based on trust and a commitment to patient care.

Overwhelmed by the thought of putting a physician referral program in place? Consult YHN’s experienced marketing professionals are here to help!

Talk to your Account Manager or email our Marketing Department for more information: marketing@consultyhn.com

About the Author

Rachel Atar joined Consult YHN in 2015 as Marketing Account Executive. With experience in multiple industries, Rachel has consistently helped small businesses navigate marketing for their end consumers. Prior to joining Consult YHN, she was Taylored Home Health Care’s Marketing Manager.

Marketing New Technology: How to Ensure Your Patients Purchase from You & Not Your Competitor

As we all know, hearing technology is rapidly advancing, and new products are hitting the market every few months. From a marketing perspective, it’s important for providers to understand their patients’ relationship with technology adoption.

Remember, everyone’s relationship with technology is different. Take the iPhone for example: some people will camp outside of an Apple Store just to be the first to own the latest model, some wait for their techie friends to try it first, and others refuse to upgrade their phone until they absolutely have to do it. 

But what about hearing devices?

Interestingly enough, there’s a very similar application of how patients adopt new hearing technologies. Below is Consult YHN’s take on the technology adoption curve applied to the hearing industry.

Based on nearly seven years of data and a sample size of over 70,000 patients, this curve points to insights on the different segments of your database, their relationship to new technologies, and the marketing touchpoints to drive conversions.

As a practice owner, how often do you think patients upgrade their hearing devices? Every 5 or 10 years? Our data shows that on average, patients upgrade their hearing devices every 3.6 years. If you want to ensure patients don’t go somewhere else to purchase their next set of hearing aids (which 40 percent of patients do), the below graph illustrates the number of times you need to contact your patient to ensure your patients remain loyal to your practice and purchase their next set of hearing aids from you.

 

FIRST ADAPTERS – Innovators

Also referred to as techies and visionaries, these are the patients who are eagerly awaiting the next hot device to hit the market. There are no sensitivities to price or technology for these folks. They are current users with a hearing aid that may even be less than a year old. Because of their readiness to purchase new technology, they only require a couple of touchpoints or marketing interactions to drive conversion.

Focus on the bells and whistles of the technology – what are the latest and greatest features that are really going to wow this audience? Remember, the first adapters may be the first to kick off sales of a new product, but they only represent five percent of current hearing aid users.

EARLY ADAPTERS – Enthusiasts

Although very similar, there are some key differentiators between first and early adapters. This group of customers value new technology but have purposely waited to make a purchase. They’re more hesitant to test drive new products and will most likely look to resources and reviews to consult first before purchasing. Gathering testimonials from your innovators (first adapters) will help move the early adapters along in their purchase decision.

1st MAJORITY – Pragmatists & 2nd MAJORITY – Conservatives

This is where a new device really gains momentum – it has now been road-tested and has built some credibility in the marketplace. The first and second mainstream customers are the peak of our contact curve, representing the majority of untapped opportunities. So, you want to make sure you are hitting this audience with the necessary touchpoints and the right messaging to convert them.

At this point in their hearing health journey, they are hovering around that 3.6-year mark of average device replacement. It’s important to tout the proven applications of your technology – not just the bells and whistles – how these new applications will impact real-life users in everyday situations.

This segment requires more nurturing – between 3-5 touchpoints for first mainstreamers and 5-7 for second mainstreamers. But making up 50 percent of hearing aid users, they’re worth it!

 

LATE ADAPTER – Skeptics

By this point, the newest technology has been on the market for some time. Anyone making a purchase after a product’s introduction is considered a late adapter or a skeptic. They are risk-averse and price-sensitive, so these individuals need the benefits of upgrading their hearing aid devices to significantly outweigh the cost.

If you can afford to offer discounts, value-added services, and/or accessories with a hearing aid purchase, this may be the only thing to entice this group. Be mindful though of the number of touchpoints required to convert skeptics: between 7-9 interactions.

RESISTANT ADAPTER – Resisters

Finally, the resisters. This is a group who are, yep, you guessed it: resistant to change! More often than not, this group of customers will only upgrade when they absolutely have to. Because they represent a small percentage of hearing aid users and require constant nurturing to convert, they are too costly (of your time, money, and energy) to build a separate marketing strategy around.

Of course, these patients are no less deserving of better hearing and can still benefit from your care – we just recommend focusing on other motivations outside of tech, like wellness, when marketing to this group.

If you want to learn about more ways to engage with your database, reach out to your Account Manager and schedule an appointment with the Consult YHN Marketing Team.

About the Author

Julia Shreckengast joined Consult YHN in 2015 and serves as Marketing Account Executive, providing support to Associates by managing creative projects and developing/executing marketing plans. Prior to joining Consult YHN, she helped promote the city of New Orleans as a member of the New Orleans Tourism Marketing Corporation. Julia graduated Cum Laude with a bachelor’s degree in marketing from Tulane University.