Data analysis and reporting are an essential component of the hospital marketing department’s responsibility – measuring the success of marketing efforts is critical for informing future tactics and helping to secure budgets.
Marketing reporting has become much easier and more accurate with the adoption of technology, such as a CRM, that improves organizations’ capacity to collect, organize, and analyze data.
In order to get buy-in from executives and secure budgets, hospital marketers need to be able to communicate their successes effectively. The hospital C-suite, including the CEO, CFO, CIO, and CXO, is tasked with overseeing the organization’s operations and steering it towards defined business growth and financial performance goals. Since marketing is a vital contributor to hospital growth, the C-suite needs to receive regular reports that clearly communicate successes.
Forum Research found that while the majority of healthcare marketers are sharing metrics with the C-suite, they are focusing on non-financial data, which is not immediately useful to executives. To shift toward a reporting method that works best for the hospital C-suite, marketers first need to understand what metrics are most valuable.