Understanding ROI, Made Simple
ROI Benchmarks of Marketing Campaigns
Meet ROMI – Return on Marketing Investment:
Understanding ROI, Made Simple
Demands on marketers increase every year to justify their budgets, campaigns and in some case their continued place in the organization. Marketing teams are expected to deliver more with less. They deal with arbitrary budget cuts and face the specter of decreasing reimbursement from insurance providers. Leadership seems no longer content to attribute economic success to metrics such as website visitors and page views. The rules are changing and marketers must communicate value in terms the C-Suite can understand.
your economic success as “engagements” and “transactions”
on measuring and reporting these results
transactions into 1 of 3 easy to communicate ROI benchmarks
Justifying an investment in a marketing campaign begins with a focus on content creation resources around content that will drive the most revenue. The first step is to identify how many procedures are needed to achieve financial goals. Next, develop a content marketing calendar that features priority content that will drive physicians to make a referral or request more information through a measurable on-site transaction. This approach results in measurable conversions that hit home with your CFO. Measurable, forecast results equal budget approval.
The cost of marketing through traditional media is expensive. On top of that, healthcare marketers likely have a goal of engaging a hard to reach healthcare provider audience. Advances in technology have allowed healthcare marketers to focus on top of the pyramid metrics which decrease campaign costs with laser-focused content directed at the precise targets they need to engage. Reallocate budget and effort away from mass media and hard to measure channels. Allocate savings toward engaging the healthcare providers who are most likely to be a sustainable referral source.
An organization is best understood by the people who work there. The challenge rests with finding the time, tools and resources to move audience insights and great ideas from concept to an active campaign. Many organizations lack the bandwidth take full advantage of their great ideas. Fortunately, both human and technology bandwidth can be expanded as needed. Investing in marketing automation technology streamlines processes which reduces the labor necessary to complete repetitive marketing tasks. Implementation mistakes are avoided by retaining an experienced marketing automation adviser. Expanded bandwidth though automation streamlines everything from email templates, marketing collateral, to landing pages and database maintenance. Every task that requires design and copywriting will see a drastic reduction in time required. Marketing automation is a success multiplier which allows a small marketing team to accomplish more than a group double the size with triple the budget.
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