A marketing campaign is only as effective as your ability to measure it. This is especially true in the healthcare space, where competition, regulation, and market saturation all play a role in making it more difficult to deliver your message to your target audience.
Identifying key metrics to pay attention to when conducting your marketing programs is imperative to really know how effective your message is. Today, we’re going to share 5 of
our top metrics for measuring healthcare marketing:
- Leads Generated
- Return on Investment
The first, and easiest metric to keep track of is traffic: how many unique people are visiting your website, social media post, or landing page? It’s one of the most important metrics to focus on because without traffic you will not have anything else to measure!
There is no shortage of web traffic tools available – with Google Analytics being one of the most popular options.
When we talk about engagement, we’re really asking: what content is your audience most responsive to? If you have a singular message (say: learn about our new DME product) and you share that message in multiple ways – perhaps through a video, blog post, and social media post – it’s important to have a sense of which means of sharing that message is the most effective.
It’s a simple as using a tool to measure clickthrough rates – and knowing that your specific audience prefers blog posts to video will absolutely help inform future marketing decisions.
3) Leads Generated
If one of your marketing priorities is to grow your business, then lead generation should absolutely be a part of your strategy. Whether it is through a landing page, short form survey, or another form of “opt-in” – comparing the number of new leads your marketing tools are capturing is a terrific way of measuring your marketing success.
Lead generation is a fantastic way to continually identify new prospective customers – and the number of leads generated is, therefore, a great benchmark to assess the strength of your campaign.
When it comes to sales, another important metric is how many customers have decided to “activate” (or make a purchase) based on your marketing efforts. Also referred to as “conversions” – this is a metric that essentially measures if your marketing programs are doing what they are designed to do: encourage prospective customers to purchase your product or service.
Activations are purely measured based on comparing how many users have engaged with your online marketing campaign against how many ultimately decided to make a purchase.
5) Return on Investment
It’s the age-old question, and one that marketers (especially those in the digital space) still have a hard time answering: was the money you invested in marketing “worth it”?
Here at Prizm, we understand how costly marketing can be – but are firm believers that when done effectively and strategically, marketing programs like lead generation can have a tremendous positive impact on your sales target.
It’s always important to be able to determine your return on your marketing investment. In simplest terms, did revenue generated from your marketing programs exceed the cost to actually run those programs?
ROI can be tricky to measure – especially because we cannot always tell where or why an individual decided to make a purchase. What we as marketers can do, is embrace using some of the metrics listed above so that we have a clearer picture of who our customers are and how they came to make that purchase. In doing so, we will be better able to answer the question of if our marketing efforts have been effective or, in other words, if there were ultimately “worth it”.