The CQ Marketing department is here to assist Associates with their marketing efforts and provide recommendations on how to maximize their investment. In addition to the ROI reports that we develop for individual Associates, we compile of a range of hearing industry data to identify marketing trends.
Here are three interesting trends that we recognized in our most recent ROI analysis along with suggestions on what you can do to address the challenges they present.
TREND 1: Your website drives a volume of calls, but very few convert to sales.
WHY: When someone is looking to learn more about a business, the majority of people go online to do their research. If the practice has a call tracking number on their website (we highly recommend this), it will capture all calls that come from that source. The challenge is not everyone is considered a new lead.
WHAT TO DO: If you want to change the ratio of calls and help your website generate more leads, there are two digital marketing tactics that you can implement.
One route is to increase the social relevancy of your practice through online reviews — by asking your patients to submit an online review. In this manner you will help potential customers evaluate your practice and make the decision to contact your office to be treated in the same way that your satisfied customers have been. Not only is it cost effective, but it is the best form of word-of-mouth marketing. If you are interested in learning more, read this article.
Another option is investing in a Pay-Per-Click (also known as search engine marketing) program. When done correctly, it is a quick way to drive more qualified leads directly to your website. This initiative can be complex, so we recommend working with an experienced contractor. If you already have a provider in mind CQ Partners can review their proposal and provide unbiased feedback. Or, if you are not sure where to begin, one of our preferred digital marketing vendors can get you started. Are you currently enrolled in a PPC program? We can review the results and provide additional insights and recommendations. Looking for more detail? This article explains the concept more fully.
TREND 2: Direct mail is profitable, but there is no one-size-fits-all approach.
WHY: When analyzing marketing results, CQ Partners looks at direct mail as a group and also by individual vendors. While some may have better response rates or bring in a higher ROI, there isn’t any single vendor that is tailored to all of our Associate’s needs. A good match really depends on the practice’s marketing objectives and their budget. All of the vendors that we recommend specialize in the hearing industry and offer pieces that have been proven to drive opportunities.
WHAT TO DO: Let’s discuss your needs! If your objective is to fill the schedule, then we may recommend one supplier. If your practice is brand new and has a limited budget, then we would likely suggest another vendor.
If you have an existing direct mail strategy, but you aren’t sure if it is the best approach, call the CQ Marketing department. Don’t have a direct mail strategy in place? We can develop a distribution strategy for you that is tailored to your budget. We’ll even serve as a liaison between you and the vendor.
Lastly, the CQ Marketing team can provide insight on the results you should be receiving — and if you provide your results data, we will prepare an ROI analysis as well.
TREND 3: Print ads still bring in qualified leads, but they are much more effective when they are event-driven.
WHY: While print ads consistently carry the highest cost per call and cost per appointment in CQ’s ROI analyses, they deliver the highest conversion from appointments to units sold and still yield a positive ROI.
In the past, many people thought the more frequently they ran their ads, the more opportunities they would generate. While that methodology worked at one time, ads are now more expensive and compete in a more complex advertising environment.
WHAT TO DO: To get the most value out of your print ads, CQ Partners recommends they be tied to an event such as a lunch & learn or an educational seminar. The event should be a no-strings-attached occasion targeting people who recognize the importance of hearing health. Ideally the ad should be a full-page but if the budget limits that, go with a half-page size. Anything smaller than that isn’t enough real estate to get a strong message across to your community.
Check out the variety of FREE ad templates that CQ Partners has available to our Associates. The marketing staff can also work with your local publications on negotiating rates, reserving placement and releasing the creative on your behalf.
The only thing that remains constant is change, and marketing is no exception. These trends are relevant and actionable right now and the CQ Marketing team is prepared to help you successfully plan and implement timely marketing activities.
If you have any other questions or would like a free marketing consultation, call (800) 984-3272, option 8 or email marketing@cq-partners.com.
