Healthcare Marketers: Lessons from the Shark Tank

Healthcare Marketers: Lessons from the Shark Tank

I had the pleasure to present at the SHSMD Connections conference in Seattle a few weeks ago.  My co-presenter, and fellow disruptor, Paul Szablowski and I were thrilled to see a full house for our session.  Healthcare marketers were eager to learn business lessons from the hit reality television show “Shark Tank.” Healthcare marketers are under constant scrutiny from their CEO’s to demonstrate value and Return on Marketing Investment (ROMI).  Walking into a shark tank each time budgeting and annual planning rolls around is all too much a reality. Here’s a recap of our presentation.  If it leaves you swimming with questions or additional thoughts, I look forward to hearing from you. The Waters are Murky for Healthcare Marketers Marketers in all industries are facing intense pressure to perform for their organization.  Many studies suggest that there is definitely a realignment needed between the C-Suite and marketing department in terms of expectations, accountability, and responsibilities.  Nearly three quarters of CEO’s want their marketing department to focus on growth goals and new customer acquisition. And the same percentage of healthcare marketers believe their jobs are not designed to let them achieve this for their organizations. Perhaps this is why the average tenure of a Chief Marketing Officer is only four years – the shortest length of any position in the C-Suite. Another reason is that healthcare marketers have focused too much on “marketing” and not enough on growth goals.  So before walking into your “shark tank,” this mindset  has to shift or you’ll be quick to sink in your organization. Lesson 1:  Know your role Yes, you’re The Director of...
How Social Media Can Benefit Your Healthcare Marketing

How Social Media Can Benefit Your Healthcare Marketing

Today, there are over 3 billion worldwide social media users.  And almost 9 out of 10 companies in the United States are using social media for their marketing.  Social media is no longer a place for friends and family to stay in touch or to connect with others.  It’s where people can stay up-to-date with news and current events. Specifically, in the healthcare industry, social media marketing plays a large role.  It can help providers engage with patients, connect with other healthcare providers and companies, and create awareness to the public of relevant and timely information in the industry. Engage with Patients via Social Media Marketing According to a recent study by Pew Research Center, 74% of internet users engage on social media.  About 80% of those internet users specifically look for health-related information, and nearly half are searching for information about a specific doctor or health professional. Patients want the most reliable information possible when searching for information about their health.  Because of a doctor’s knowledge and expertise, about 60% of users say they trust a doctor’s post over a company’s post. Connect with Other Healthcare Providers and Companies Social media connects doctors and physicians to other companies and keeps them up-to-date on the latest medical developments, technology, minimally invasive treatments and more.  About 88% of physicians use social media to research pharmaceuticals, biotech and medical devices. Create Awareness to the Public About 32% of internet users post about their friends and family’s health experiences on social media.  When it comes to health-decision making, people gravitate towards providers who have treated related or experienced similar situations.  Patients care...
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