Forget about trying to do more with less. Stop overspending.

by Tim Hanners - 04/24/14

Healthcare marketers are seeing next fiscal year's budget frozen or shrunk. So when you need to narrow focus and still make impressions, consider the following.

blog-overspending

When you look at the marketing cost to make a thousand impressions (CPM), there is simply no denying the power of social media. That's why retail marketers increased their social media spending by 37% last year and are expected to allocate another 27% this year.

Couple that with the power of analytics that comes with online experience and traceable ROI from print tactics, and it's easy to see why other marketers ran from local newspapers and toward highly targeted channels like direct mail and the digital space—where they can communicate with precision to an audience that is actually interested in what they have to say.

CPM Rates by Media/Marketing Channel*

blog-overspending-chart

As healthcare marketers, we don’t need to talk to everyone about major joint replacement. In fact, to those who aren't feeling pain in their knees (aka the large majority of your community), the topic only makes them squeamish and turns them away. We also no longer have to stop targeting by age and gender and hope our message connects with enough females in their 50s to make an impact. Wouldn’t it be better to connect with—and pay only for—the people who also have a desire to learn from our expertise and will click right then to learn more?

It’s sharing your story and helpful content with people who want it—and avoiding the rest who will only yawn or brush you off.

The bottom line: Stop wasting money on marketing to everyone, and deliver your content only to the exact consumers you want to reach.

* according to siteadwiki.com 2013 cpm rates

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