When integrating digital and traditional marketing, healthcare marketers are inundated with a multitude of metrics. But which marketing metrics best showcase campaign success?
According to Gary Druckenmiller, Evariant’s VP of Client Solutions, cost-per-acquisition (CPA) is a metric health systems can use to understand return on marketing investment (ROMI) in healthcare and measure efficiency of campaign spending.
How Can Healthcare Marketers Lower CPA?
- Pause all unprofitable paid campaigns. As soon as the market starts to change and fewer consumers are converting, marketers have to adjust their campaigns. Un-pause the campaign only when absolutely ready to optimize for conversions.
- Run remarketing campaigns. Nearly all campaigns experience abandonment at some point and without a remarketing campaign, marketing dollars are going down the drain. Create retargeting campaigns for consumers who abandoned or started any activity but didn’t convert, like a customer who downloads a guide but doesn’t schedule an appointment. A remarketing campaign through Google Adwords, Facebook, or Bing can help keep costs low and conversions high.
- Grow your email-marketing list. Email marketing has the lowest CPA compared to all other marketing channels. If marketers grow their email list, they will depend less on rented advertising platforms, therefore reducing ad spend.
- Practice the 80/20 Rule. Typically, 80 percent of conversions come from 20 percent of a health system’s services. Healthcare marketers need to find and focus on the 20 percent that generates 80 percent of results.
While these tactics help healthcare marketers optimize campaigns for increased conversions and reduce CPA, it’s important not to lose sight of the overall consumer experience. If parts of the conversion pathway don’t make sense or are too generic, your campaign effectiveness will suffer and you’re still wasting part of your scarce resources—budget.
Ask yourself these questions: Is the experience the same across channels? Are you optimizing for desktop versus mobile? Does the landing page experience match the ad copy or keyword search? This is simply a matter of “walking a mile” in the shoes of your consumer.
Taking the time to be thoughtful about the experience as a whole, and avoiding siloed experiences based on channel, paired with these other four tips will ensure you’re minimizing your CPA and driving the most qualified leads for your budget.