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Health Care Marketing Series - Marketing Effectiveness and Efficiency - Warheads and Missiles

Health Care Marketing Series - Marketing Effectiveness and Efficiency - Warheads and Missiles

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Published by alrawahfff
Top Best Selling Marketing Graphics Toolkit by Max ! http://www.warriorplus.com/linkwso/mxq04b/26174/08012012a
Top Best Selling Marketing Graphics Toolkit by Max ! http://www.warriorplus.com/linkwso/mxq04b/26174/08012012a

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Published by: alrawahfff on Jan 09, 2012
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 ==== ====Top Best Selling Marketing Graphics Toolkit by Max !http://www.warriorplus.com/linkwso/mxq04b/26174/08012012a ==== ====We have previously discussed the research needed to create a marketing strategy that identifies atarget demographic. The purpose of this research is to allow us to compare our relative strengthsand weaknesses verses our direct competitors strength and weaknesses within the marketplace.Once our relative position in the competitive marketplace has been researched, a strategy that pitsour strength against our competitor's weaknesses can be formulated. This process is calledmarketing strategy. Part of the marketing strategy is to formulate headlines and ad copy based on our relative positionin the marketplace. We want our marketing to highlight our relative strengths against the relativeweakness of our direct competition. All of this positioning must be crafted within the context of thesolution to a specific problem that exists in a coveted demographic within our marketplace. Theultimate goal is to create a perception within the collective minds of our demographic that we havethe best answer to solve their specific problem. This well researched, well crafted message is ourmarketing warhead. The more congruent our message is with the wants and desires of our coveted marketdemographic, the bigger bang we will receive from our marketing efforts. This "bang" is measuredas our response rate. This process of marketing strategy sends us into battle (contention forpotential patients) under advantageous conditions. The process we have just described is thedefinition of marketing strategy. The better the marketing strategy, more effective the headline andad copy. Notice that we stated the better the strategy the more effective the headline and copy willbe. We didn't say the more effective the marketing campaign will be. This is because there is onemore major consideration that helps to determine how effective or ineffective a marketingcampaign will be. The other piece of the puzzle is your delivery systems. If the strategy and the headlines and ad copy are the warhead of your marketing campaigns, thenext step in successful marketing is the missile or delivery system. The variables for marketing success are the quality of your research, the art and science of yourstrategy development, the alignment of your headline and ad copy with your marketing strategyand finally the efficiency and cost effectiveness of your delivery systems. You can have a nuclear warhead when it comes to knowledgeable strategy, headline and ad copy,but will obtain mediocre results if you choose a weak delivery system. Conversely you may havethe best most effective delivery system and obtain marginal marketing results if your strategy,headline and copy are weak. Optimizing all three components and constantly testing and perfecting these aspects of yourmarketing campaign is the key to effective, efficient and profitable marketing that produces a
 
handsome return on investment. We have discussed the intricacies of developing marketing strategy in another paper. Themarketing metrics required to evaluate the return on investment (which is another way to say themarketing efficiency) has been discussed in a previous paper. This paper will integrate marketingstrategy and research with marketing metrics to create a framework with which to evaluatemarketing delivery systems. This process is a real world method for first determining and thenimproving both marketing effectiveness and marketing efficiency. Before we can evaluate our marketing effectiveness and efficiency we must first define marketingeffectiveness and efficacy. Marketing effectiveness is how well a campaign or the action steps within a campaign's executionproduce a favorable response. What is a favorable response and how do we know if we got one?Well despite what marketing aficionados might tell you, marketing execution can be measured.There are several tangible measurements that matter and they are new (or repeat) businessdepending on your strategy, revenue increase and profit Your marketing strategy can be judged to be effective if 1. It produces new business, 2. Itincreases revenues and 3. It increases profit. It has nothing to do with image, branding, awareness or intangible returns. In the context of marketing a professional practice, new business would be "kept" new patientappointments. Revenue is the gross collections increase from previous months and profits meansyour return on investments, also expresses as increased revenue minus the cost of yourmarketing effort. By themselves these measures can give you a good handle on the effectiveness or not of yourmarketing execution. The next step is to eliminate marketing action steps that are not effective andto optimize those marketing activities that are proven to be effective. Once marketing effectivenessand marketing efficiency are optimized you merely repeat the most effective and efficient actionsteps. Again and again. This process is impossible without marketing metrics and return on investment measurement. Infact according to the Harvard Business School no marketing action plan is complete without stepsto measure and evaluate the implementation of a campaign. (1) (1) Harvard Business Essentials Marketer's Toolkit Harvard Business School Press 2006 Let's look at an example at how all this works. Let's compare giveaway coffee mugs with a fullcolor print on demand booklet. Online print on demand printers can produce a 6.5 x 9 inch fullcolor saddle stitch booklet at a cost of $6.50 per unit. Let's compare this against a customimprinted coffee mug, available for an average cost for mugs of about $1.50
 
 At first glance the mugs seem like a much better marketing investment. But are they? Let's say our coveted marketing demographic is women ages 35 to 55 and we havefound through are research that this market segment has a health problem: menopause orperimenopause. First let's look at headline opportunities. With the coffee mug you are severely limited by space. You'll need to try to create a slick trendyand catchy headline. Something like: "Got Hormones?" There is not much room on a mug to do much else. What are our options with the print on demandbooklet? With the booklet, space constraints are not an issue. Here are several options: - "A doctor's guide to choosing the best treatment options for your perimenopausal symptoms"- "Tired all the time, irritable, depressed, gaining weight? These are symptoms of perimenopause""Learn about modern treatment options."- "What every women should know about perimenopause and how she can feel good again." Really with the space the booklet provides the headline can be extremely specific. You can usesubtitles and even an excerpt from the content on the cover. So in terms of our warhead, whichone do you think produces a bigger bang? "Got Hormones?" or "Tired all the time, irritable, depressed, gaining weight? These are symptomsof pre menopause" "Learn about modern treatment options." With the coffee cup the story ends here. Because of space restrictions you can't really get muchmore detailed. You might put your name on the mug, but you would be hard pressed to add muchmore information. The catchy headline "Got Hormones?" hopefully will start conversations aboutyou and your services. The downside of this is obvious however. If you give your coffee cups to apatient or the owner of a trendy salon and if one of her customers sees the mug and asks theproprietor about hormone replacement, what are the odds that layperson can represent you andyour services in a dramatic, appealing and informative way? Patients rarely remember to take theirmedications yet alone the reasons why they should and all available options you discussed withthem. In other words, the coffee cup doesn't allow you to give enough information to sell your service toa prospect. It relies on third party information. The coffee cup hits a dead end rather quickly. So in terms of a marketing warhead the coffee cup is more fizzle than bang. There is simply notenough space on the cup to allow you to create a headline that is in alignment with your targetmarkets' problem, yet alone enough space to educate her on how you have the solution to thatproblem. In other words, there is no way, using a coffee cup, to position you and your service in

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