For a very long time, the health industry has been a very gray zone for marketers. To start with, who’s the subject here, the clinics or the patients? What is a conversion? How do marketers understand and respect the difference between the healthcare industry and other industries they used to handle.
Here are a few things you need to know before we tell you why marketing might be waste of money for the healthcare indusrty:
Healthcare has changed drastically in the past few years
In the past, the supply and demand of doctors and patients was different. There was an influx in patients and a few doctors and clinics that provide their services locally.
Nowadays, there are more doctors and clinics competing to reach a patient and build a trust relationship with. The doctor was the target, and now the patient is the target of clinics and doctors.
Patients are very active on social media
At least 22% of patients are either sharing their symptoms with their social networks or asking their friends and family for recommendations. In both cases, patients are active and are on the verge of booking an appointment only by clicking on a button.
Your competitors are on social media
Many doctors and healthcae providers are resisting the transformation to social media and digital marketing. The truth is that those are quite behind in their game. 60% of doctors who have been using social media have noticed that their communication with their patients has been enhanced, which reflected instantly on the quality of services they provide.
So why shouldn’t healthcare institutes spend on marketing?
Marketing is a tricky investment. No matter how much experience a professional has, there’s always an element of surprise, that’s the price for trial and error. Yet there are plenty of ways that healthcare companies and clinics can benefit from marketing and reach their target audience without investing blindly.
With risk-free lead generation, clinics and doctors can leverage the benefits of the marketing, without paying a cent on trials, RESULTS only. You probably need to know more. Here’s where you can learn more about the programs designed especially for the healthcare industry.
Performance marketing has been storming the marketing industry and communities for the past few years, which drove the interest towards that approach in a rebellious gesture.
The approach has changed the way companies advertise and promote what they sell, and it also has changed the way we examine the measurements of the success of any marketing campaign, from nearly impossible determining the ascriptions to the ability to measure EVERYTHING from the reach to conversion rates.
In this article, we’re going to explore why performance marketing is such a hit to every marketer and business out there.
Isn’t it marketing based on performance?
In principle, performance marketing is putting power back in the hands of the advertisers, Because it’s a data-driven marketing model that aids advertisers to collect valuable insights into their performance which assists them to improve their campaigns according to the best cost (whether its Cost Per Acquisition, Sale, Lead or Click).
That said, the Business Insider’s 2016 report stated that nearly three-quarters (74%) of shoppers in the US click on more than 3 to 4 websites before continuing to explore or shop in the intended site. This statistic shaped a massive endorsement on how effective the performance model is and how a lot of huge numbers from what we see in the global ecosystem resulted from applying it.
But isn’t that the same as digital marketing and affiliate marketing?
Digital marketing includes all channels and efforts that affect business leverage. And according to the anatomy of digital marketing, performance marketing is a model that falls under its umbrella since 1993 when the first Web ad banner was launched.
In spite of that, Digital and performance marketing aren’t the same on many levels.
- When it comes to Payment
In traditional digital marketing, the procedures include CPC and CPM standards which aren’t efficient because your company will have to pay for results in advance starting from salaries to operations.
In performance marketing, especially affiliate, it’s the opposite. It’s a free-risk model that makes you pay only when you receive the action or generate sales.
- When it comes to fixed costs per actions
In traditional digital marketing, it’s challenging and almost impossible, to expect the fixed cost per new customer on a daily basis.
In performance marketing, the affiliate and performance marketing’s base is situated on expecting the fixed cost per new customer daily.
- When it comes to Hyper localize your campaign.
In performance marketing that is a big advantage, as hyperlocal marketing focuses on limiting the targeting of the ads to highly specific geographical areas, further you can track keywords and set a hyper-social marketing campaign using Google Ads.
This will generate free awareness and reach which isn’t available in traditional digital marketing.
Back to affiliate marketing. When it comes to affiliate marketing, it originated before performance marketing, and despite that, performance marketing includes it and much more as a model.
Affiliate marketing in itself might not guarantee the Consumer will buy what you’re selling. But the latest technologies and digital marketing strategies allowed taking a closer step towards completing priority action. And now affiliate marketing has evolved to the extent when sometimes you pay the affiliate only for sale or download. Accordingly, performance marketing goes far beyond the affiliate model.
Performance marketing from a brand’s perspective:
One of the enormous concerns that any client we collaborate with has is, “Would this help my business’s growth and ROI?” Well, there are many benefits to adding Performance Marketing to your growth’s funnel and online marketing mix.
Of course, it’s an obvious benefit of building your brand through a third partner with their separate audiences, budgets, targeted traffic, and audience engagement, with a plus of reducing your risk, increasing your market reach, and decreasing budgets while growing your brand.
Further, Performance Marketing is trackable, measurable, and transparent.
Brands can now see the entire click-to-consume journey of each buyer, and identify where to invest more and what channels would perform better results.
Here are some tips on how to make your performance marketing application successful:
1- Pay attention to your landing pages
First, lousy landing pages can put off visitors from converting and responding to your performance marketing. Furthermore, not including reasonable offers on your landing page is worse, it might put off partners and advertisers. They tend to experience the website’s landing pages and offer to test what the audience will go through when they advertise your products.
2- A/B Testing is your best friend
Testing, measuring, and creating a standard. Repeat. When it comes to performance marketing, specifically those are essentials. Try different techniques and follow-up with an optimization every single time.
3- Reputable sources = Consumer’s trust
Always double-check on the traffic coming from the sources you’re advertising on. If it isn’t reputable, then it’s neither what you and your consumer want. Based on that, try recording each data you get starting from locations, what devices they use, from what channel they came, bounce rates, and what to do next as an optimization. We highly encourage you to do that after advertisers to make sure you’re growing sales-wise and business-wise.
Let’s talk about the latest performance marketing trends!
Everything is moving one step forward as you’re reading this. Performance marketing is hugely becoming the primary sales driver by more than 30% in almost every e-commerce website.
This percentage placed performance marketing as a very prominent approach and specialization. With this rapid growth, people are getting attracted to the career, more advertisers are joining its space, and more clients believe in it and what’s beyond it.
The elevation in advertisers, affiliates, influencers, and companies like BlueAds proves the opportunities present to promote brands through performance marketing models.
With the COVID-19 situation also elevating, we faced many challenges that made us enhance specific trending models based on our expertise and global standards we’re following. And here are our top effective trending models.
Explore our: Affiliate Solution, Influencer Solution, Lead Generation Solution.
Generally, performance marketing is a rising model for e-commerce, brands, and all businesses. Hence, if you have a performance marketing or affiliate marketing program, it is good to practice to appraise your strategies and program to comprehend if you can benefit from an outsourced specialized team being added to your funnel or managing the program entirely.
Last but not least, our ultimate advice is, test it. Track it. Measure it. Optimize.
Performance marketing is a form of online and digital marketing that allows your team to measure the accurate results of your campaigns and operations according to a set of metrics that your brand has already determined.
Our motto is “Fuel your business performance”, which is a promise that we pledge to fulfill to our clients. We’ve worked with many industries, and reached a few insights that will guarantee the scalability of your business. Check these out:
Exapanding your audience
Your team is deifnitely doing a great job to identify the best strategies to reach your potential customers. Performance marketing channels allow your brand to expand your audience by reaching our your third-party’s audience; such as influencers’ fan-bases and followers. Yes!! We have a performance-based influencer marketing program.
Saving your resources
Whether we’re speaking about budgets, capital, or human resources, performance marketing saves you a lot. 1) Because your commission is only allocated to actual measurable results. 2) Your performance campaigns would be run by more than 100 experts in different performance marketing techniques, which will save you the hassle of building a huge team with different areas of expertise.
Building different revenue streams
While your main sales and other operations are in place, performance marketing allows you to explore different revenue streams that will generate profit for your business. Out of experience, many companies and brands started getting more than 60% of revenue through third-party performance marketing campaigns, simply because they explored different performance products.
Reserving and analysing accurate data
Since performance is based on measuring results, it certainly allows your team to have access to amazing data that may be analyzed and used to enhance the whole objective of the business and assist in forming new effective marketing and sales strategies.
FREE brand awareness
While results is the only metric that you pay for, brand awareness comes as an extra add-on that your brand received from these performance campagins that allow the relevant audience to know about your products and services.