Marketing Metrics 2016 Drivers, Challenges and Opportunities

Transcription

1 Marketing Metrics 2016 Drivers, Challenges and Opportunities Preston Gee, CHRISTUS Health David Marlowe, Strategic Marketing Concepts The opinions expressed are those of the presenter and do not necessarily state or reflect the views of SHSMD or the AHA Society for Healthcare Strategy & Market Development

2 Agenda 1. Challenges for Marketing Metrics 2. Categories of Marketing Metrics 3. Highlights of SHSMD Marketing Metrics 2016 Study 4. Marketing Metrics Reporting 5. Case Study CHRISTUS Health Marketing Dashboard and Intake Process 6. Questions

3 Challenges for Provider Metrics Lack of externally-based required metrics to create a common ground. No JCAHO or FASB requirements for Marketing KPI s Lack of internal consensus on what is important to measure. What does Marketing actually control? Is the needed data timely, available or even collected? Do we have the resources to adequately track and report?

4 Categories of Metrics There are essentially 3 categories: Production Activity Metrics Marketing Operations Metrics Strategic Results Metrics. The lines blur a bit between the categories but by and large almost all of what we can or should measure falls in to one of these 3 categories. Recent study of 25 AMC/System Dashboards All had Production and Marketing Operations metrics. Most had some Strategic Results metrics but nothing consistent across all of the Dashboards.

5 Production Activity Metrics (Examples) Number of collaterals produced Number of events held Number of press releases sent Number of tours given Number of press inquiries handled Number of videos produced Number of micro-sites developed Number of ads created and placed Number of CRM-driven mailings sent out Number of blog or Social media site postings

6 Marketing Operating Metrics (Examples) Number of event, class, screening attendees Number of accepted media placements or minutes/scope of coverage. Call Center volume Web site usage metrics (unique visitors, etc.) Newsletter readership levels Social media followers Physician relations or sales calls made Inquiry/contact conversion rates

7 Strategic Results Metrics (Examples) Volumes Market Share (many different types) Organizational image (preference, etc.) Referrals, Active referral sources Leakage levels in key services Key audience satisfaction, retention Membership (example Fitness Center) Contracts for services (lab, occ med, etc. Enrollment, Re-enrollment Population Health goals ROI from marketing efforts (financial return)

8 SHSMD Metrics Study Life Beyond Promotion Core Metrics for Measuring Marketing s Financial Performance Started in the Fall of 2014, reported released in the Spring of Original Goal To create a core set of Marketing Metrics with (a) CFO support and (b) impact on financial returns (direct or indirect). Effort included representation from HFMA. By-product First industry-wide provider marketing metrics standard albeit at a 1.0 level.

9 SHSMD 2016 Core Metrics Growth Metric Measurement 1. Volume Change Monthly, Quarterly, Annually 2. Increased Revenue (Or savings from risk-based pre-payment) Monthly, Quarterly, Annually 3. New Patient Acquisition Monthly, Quarterly, Annually 4. Market Share (IP, OP Usage. Could also be enrollment or membership) Monthly, Quarterly, Annually 9

10 SHSMD 2016 Core Metrics Brand and Image Metric Measurement 5. Brand Awareness (Aided, Unaided) Annually 6. Brand Preference Annually 7. Key Service Line Reputation Annually 10

11 SHSMD 2016 Core Metrics Stakeholder Engagement Metric Measurement 8. Patient Satisfaction Quarterly, Annually Debate What about influence on other Stakeholders Employees, Doctors, Donors, Members, etc.? 11

12 SHSMD 2016 Core Metrics Marketing Communications Metric Measurement 9. Paid media impressions, responses Quarterly, Annually Digital may be more frequent 10. Earned media value, tone, impression, actions 11. Owned media households reached, responses Quarterly, Annually Monthly, Quarterly, Annually 12. Social Media (Activity, Reach) Weekly, Monthly, Quarterly, Annually 12

13 SHSMD 2016 Core Metrics Marketing Communications Metric Measurement 13. Digital Media (Wide array of metrics) Monthly, Quarterly, Annually 14. Direct Marketing (Outbound calls, direct mail, , targeted e-newsletters, etc. Measure responses, conversion, etc.) 15. Physician Liaison/Sales (Visits, gains in referrals/volumes) 16. Other Sales (Incremental revenue, referrals, new business, membership, contracts, etc.) 17. Return on Marketing Investment (ROMI) (Revenues connected to specific efforts) Weekly (Digital), Monthly, Quarterly, Annually. Monthly, Quarterly, Annually Monthly, Quarterly, Annually At specific points (6 months to 2 years) after implementation 13

14 What about 2.0 Metrics? There is a lot of activity out there in terms of cutting edge, unique, perhaps even odd provider marketing metrics which is great if it meets a need. Examples: Share of PCP Group Affiliation Share of Health Care Wallet Life Time Value of a Marketing-Influenced New Customer Value of a Lost Customer Impact of Marketing on Related Areas (Fund Raising)

15 Marketing Metrics Reporting (Recommended Guidelines) 1. Choose metrics that matter To your CFO/CEO/COO and Board(?) To the strategic direction of the organization. Consider the so what factor does the metric impact operational or strategic decisions? 2. Decide how many metrics to report (10-15?) 3. Get agreement on definitions, formulas, targets to achieve in advance. 4. Keep it current or don t bother.

16 Marketing Metrics Reporting (Recommended Guidelines) 4. Make it simple to access, read and use. And check once in a while is anyone really reading it? 5. Be honest if the results are not up to goals, acknowledge and look at root causes and solutions. 6. Decide how often to report: Time periods of the data elements (why report monthly if many elements only change quarterly or annually)? Resources available within Marketing Patience/interest of the target audience 7. Share it as widely as you can.

17 Strategic Marketing Dashboard and Intake Process Preston Gee VP of Strategic Marketing CHRISTUS Health The opinions expressed are those of the presenter and do not necessarily state or reflect the views of SHSMD or the AHA Society for Healthcare Strategy & Market Development

18 Traditional and Dimensional 1. Metrics that align with organization goals. 2. Emphasis on volume, share, financial performance. 3. Upstream considerations and the impact on metrics. 4. Using metrics to prioritize projects

19 Financial Volume Metrics SAMPLE DATA ONLY

20 Marketing Funnel Metrics Attract Engage Convert Strategic Marketing Dashboard August 15, 2016 SAMPLE DATA ONLY

21 ALT PSA Market Share SAMPLE DATA ONLY

22 Employer Program Metrics SAMPLE DATA ONLY

23 Framing the Metrics 1. What matters to the consumer/patient? 2. Can the organization deliver? If not, you re marketing the competition. 3. How much can marketing influence the experience?

24 Health Plan Sales Mgmt. Strategic Marketing Digital Engagement Decision Support Operations Strategic Marketing Intake Workflow and Process FY 17

25 Case in Point --Adjacencies 1. Consumer research revealed that soft skills (clinical interaction/empathy) matter most. 2. Physician satisfaction and associate engagement are pivotal to the consumer/patient experience. 3. Think globally, act vocally name the game and choreograph the full continuum

26 Marketing Intake The Strategic Marketing Intake Process identifies campaign standards and processes that will be utilized for the intake of marketing requests. Our goal is to create a unified method across the CHRISTUS system that will streamline all marketing campaign requests in order to use our resources to their fullest capabilities. Purpose Provide a single point of entry for all campaign requests. The intended outcome include a more transparent intake and output process and more efficient and effective use of resources within the Strategic Marketing department and regions.

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28 Type of Request Submitted via the Intake Workflow REQUESTS

29 How Are We Doing? The request is not under control. Immediate attention is needed. The request under control but problems have been identified. There are high chances to bring this request under control by re-planning The request is under control and we can deliver as per the schedule. Need to ensure target audience is entered. If SYSTEM/CORP include internal dept. name Review of requests and reply within 24 hrs. Crosswalk projected budget dollars with actual budgeted dollars. Lack of engagement: Some regions BVK Timely entry into Basecamp. Reporting of data onto monthly dashboard Communication from vendors regarding status updates Interdepartmental collaboration with Digital, Operations and Vendors. Stronger call-to-actions. Effective use of resources Standardization of campaigns. Increase campaigns Increase Paid search

30 The Salient Summary 1. Marketing represents the customer so research is fundamental to understanding. 2. You have to go upstream (operations) or the efforts are little more than window dressing. 3. Everyone owns the metrics not just marketing. 4. Metrics should be pre-emptive (investment) and retrospective (incentives).

31 Questions? Preston Gee David Marlowe The opinions expressed are those of the presenter and do not necessarily state or reflect the views of SHSMD or the AHA Society for Healthcare Strategy & Market Development