Digital marketing has been successful in helping businesses of all kinds to not only earn better returns on their investment but also gain more visibility, reaching out to a broader spectrum of people.
It can do the same for your healthcare business as well, and what more can do it cost-effectively too.
It offers a wide array of cost-effective mediums as well as platforms that allied with a cost-effective digital strategy can be used to launch and implement your digital campaign, cost-effectively. When that happens, it can make an enormous difference to your healthcare business’ marketability.
What Makes Digital Marketing so Cost-Effective?
Digital marketing is cost-effective because a digital strategy can effectively strike the right balance between the actual cost and the actual results, of a digital campaign. This way, it helps find what’s working and what’s not.
There are various mediums in digital marketing, and among them, some of the most cost-effective ones are:Retargeting Ads
For your digital marketing campaign to succeed, it is important to attract targeted traffic who not only browse your website or app, but are also looking for products/services, and information. By targeting them, you can increase your conversion rates.
This is where retargeting ads can play a vital role.
Retargeting ads are highly cost-effective in targeting quality traffic. It uses parameters like people’s demographic details, age, interests, and online behavioral patterns, to target specific audiences who show an inclination to get in touch with your business or buy from you and place ads before them.
They can even be used to target people who have visited your website or app once or purchased something on them once. Through retargeting ads, you can get to know how many conversions your website or app has garnered, where the traffic comes from, and how they have reached your website or app. The data thus collected will help you to refine your digital campaigns and make them better.Social Media Selling
Social media is increasingly influencing people; as a result, they are better informed. People browse social media and research in-depth about products/services and lookup recommendations and reviews. With better information at their fingertips, they are conscious about what they are buying and from whom they are buying.
An effective social media campaign with meaningful visual presentation and content will help salespersons to reach out to more people and influence their thought processes. Better monitoring of users' profiles will help salespeople to understand people’s behavioral patterns, what kind of social platforms they use, and accordingly adjust their campaigns, to engage them better on a long-term basis.
Many marketers have seen tremendous spin-offs in the form of greater audience reach, better engagements with prospects, more conversion rates, and above all, increased business efficiency.Tracking Campaign Results
Digital marketing tools can be leveraged to track how many people have visited your website or app, how many conversions have been made in real-time, how many users have returned, what is the level of increment in sales, and so on. All of these will help evaluate how your digital campaign has come along, what are the weak areas, and what needs to be done to plug them and fine-tune your digital strategy.
A good example is an email marketing campaign. Emailing to all of your email contacts will help you to know how many have actually converted and how many have not. This in turn will make you understand its efficacy, whether it has worked effectively or not, and what needs to be done to improve it if it has not worked well.
You will also get to learn which digital touch-points are working and which are not. This way, you will learn to focus more on those touch-points that are working and where you can channelize your resources.Pay Per Click (PPC)
PPC advertising, another extremely cost-effective medium, is a vital ingredient of a digital marketing strategy. It is extremely effective in reaching out to the targeted audiences, generating brand awareness, and attaining immediate visibility. This is in contrast to SEO which takes time to achieve the same.
Ads through PPC usually appear in the headline region and meta-tag area, where site users and other online searchers usually first focus on. They instantly catch attention and also have proven to be effective in generating leads. Effective usage of premium search tools and techniques will ensure that PPC will generate a higher return on investment and at the same time, help cut down your expenditure.Content Marketing
Content marketing is another viable and cost-effective medium in digital marketing. There are a number of platforms that can be used by content marketing for engagements, from website to email marketing, podcasting, Facebook lives, Instagram TV, LinkedIn live, etc. All that is required is useful and engaging information that catches viewers’ attention and interests them.
This way, healthcare business entities can reach out to a wider audience, ensure robust patient engagement, and build an effective professional reputation.Digital Advertisements
They are not only cost-effective but are also cost-efficient.
- Google Ads with proper keyword planning and inclusive of tall keywords, can be used by medical clinics and hospitals to reach out to the target audience. They work effectively when targeted at specific audiences, and can guarantee high conversions.
- Social Ads can also fuel quality traffic. They can be used to target potential patients who are more likely to convert successfully.
How to Gauge Cost-Effectiveness?
To understand how effective your digital strategies and campaigns have been, digital marketing tools can be usedThey will help you understand the
- The number of visitors who browsed and used your website and its individual pages. This can be tracked by cookies on your website.
- The number of visitors per different channel platforms like email, social media, etc.
- The number of visitors per device from tablet to Smartphone, desktop, etc.
- Percentage of visitors who just browsed your website or its pages, without in any way engaging in any activity.
You can also measure the success of your digital campaign by analyzing the click-through rates (CTR). The rates vary from platform to platform, but all have a commonality – how many people have clicked, like say, PPC Ad or a Facebook Ad.
The more the number of clicks, it indicates the more successful your digital campaign has been. CTRs will also allow you to diagnose the weak areas of your digital strategy, and accordingly, initiate action to rectify the weak areas.
Analyzing the Value of Marketing Costs
When compared to traditional marketing, digital marketing entails nominal Customer Acquisition Costs (CAC). CAC refers to fixed and variable costs spent on acquiring new customers. The figure is arrived at by dividing the total sum spent on customer acquisition by the number of new customers.
In digital marketing, mediums like social media selling through posts, website content cost, email campaigns, etc, all cost little or nothing to produce. Factoring these aspects into consideration, the total CAC will be minimal when compared to what it is in traditional marketing.
As more patients go online, medical clinics and hospitals need to harness digital marketing effectively. This will allow them to reach out to patients who matter, consolidate them to grow their customer base, and their business revenues.
To market your healthcare business cost-effectively, you need the expert guidance and expertise of MediBrandox, to create, launch, and implement a cost-effective digital marketing campaign.
MediBrandox, a top healthcare digital marketing company is well-acquainted with all aspects of healthcare digital marketing and knows what exactly needs to be done, and what techniques need to be used to attract leads, and power sales for your healthcare business.