By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    Reasons For Hair Loss and Its Treatment
    Reasons For Hair Loss and Its Treatment
    February 16, 2022
    healthcare organization
    5 Actionable Strategies For Healthcare Organizations
    August 15, 2022
    7 Truths and Myths about Being a Full-time Emergency Doctor in a Big Hospital
    7 Truths and Myths about Being a Full-time Emergency Doctor in a Big Hospital
    October 6, 2022
    Latest News
    Beyond Nutrition: Everyday Foods That Support Whole-Body Health
    June 15, 2025
    The Wide-Ranging Benefits of Magnesium Supplements
    June 11, 2025
    The Best Home Remedies for Migraines
    June 5, 2025
    The Hidden Impact Of Stress On Your Body’s Alignment And Balance
    May 22, 2025
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Seven Senior Health Tips For The Holidays
    December 21, 2011
    Medicaid to Fund ‘Stay-Healthy’ Incentive Programs
    September 12, 2017
    Health Affairs Briefing Addresses Costly Consequences of Diabetes Treatment in America
    January 12, 2012
    Latest News
    Let Your Lawyer Handle the Work Before You Pay Medical Costs
    July 6, 2025
    Top HIPAA-Compliant Messaging Apps for Healthcare Teams
    June 25, 2025
    When Healthcare Ends, the Legal Process Begins: What Families Should Know About Probate and Medical Estates
    June 20, 2025
    Preventing Contamination In Healthcare Facilities Starts With Hygiene
    June 15, 2025
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: The Secret to Healthcare Marketing ROI: Focus, Focus, Focus (Part 1)
Share
Notification Show More
Font ResizerAa
Health Works CollectiveHealth Works Collective
Font ResizerAa
Search
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Finance > The Secret to Healthcare Marketing ROI: Focus, Focus, Focus (Part 1)
BusinessFinance

The Secret to Healthcare Marketing ROI: Focus, Focus, Focus (Part 1)

Karen Corrigan
Karen Corrigan
Share
4 Min Read
SHARE

focusPART ONE

Someone once asked me about the difference between ‘focusing’ and ‘prioritizing’ – focusing is knowing what to do; prioritizing is knowing what to do first.  These are the decision points faced by marketers every day. And especially when it comes to marketing planning and budgeting.

focusPART ONE

Someone once asked me about the difference between ‘focusing’ and ‘prioritizing’ – focusing is knowing what to do; prioritizing is knowing what to do first.  These are the decision points faced by marketers every day. And especially when it comes to marketing planning and budgeting.

More Read

Orthopaedic_062014
Orthopaedic Medicine Vital to Addressing Musculoskeletal Disorders [INFOGRAPHIC]
Hospitals May Not Be Ready for ICD-10
Electronic Access Increases Test Ordering Behavior
Strategies for Optimal Hospital Supply Chain Solutions
Quality Improvement Using Patient Self-Management: Video Debate

Most CMOs are trying to conjure up ways to achieve more with less.  Too many times, unfortunately, they end up spreading scarce dollars over too many projects which can significantly diminish the impact and desired outcomes.

When stuck between a rock (the health system’s need for profitable growth) and a hard place (the drive to cut costs), how do marketers prioritize marketing investments and gain organizational commitment to those investment decisions?

First, clean house.  Use this opportunity as a time to take a stand and stop funding activities that have no or minimal impact on strategic growth, customer acquisition, customer retention and financial performance.  Specifically look at non-marketing activities that sap resources and work with your colleagues across the health system to eliminate or move those deeds elsewhere.  Make sure your team is performing at its best; when you are being asked to do more with fewer FTEs, each has to be a stellar performer.

Second, use a marketing resource allocation methodology to prioritize limited marketing resources (dollars and FTEs) to those growth and marketing initiatives that have the best potential for improving business performance and positioning the organization for long-term success.

In prioritizing marketing resource investments, there are three basic decision points:

  1. What businesses, clinical programs or market expansion initiatives offer the best opportunity for growth and profitability?
  2. Within priority programs and service lines, what strategies and tactical initiatives will best achieve marketing goals?
  3. What infrastructure investments will be required to support effective growth and marketing management?

In other words, what will you choose to invest in to drive growth and improve profitability, and what activities and support systems will contribute most to those objectives? Both top-down and bottom-up approaches to resource allocation are necessary; top down for strategic planning across a health system’s portfolio of service lines and market initiatives; bottom up to develop individual marketing budgets within each priority program.

I know that some of the toughest issues marketers face are cutting others’ pet projects, sunsetting outdated communications tactics, navigating the politics of competing priorities, and so on and so on.  Just saying ‘no’ has not been an option for some;  a marketing resource allocation method can better arm the CMO with data-driven rationale for investment decisions.

In upcoming posts, I’ll explore the components and key questions to delve into for each of the three decision points listed above.  In the meantime, let me know some of your toughest budget challenges — together let’s find a way to stop doing more and focus on achieving more.

TAGGED:healthcare marketing
Share This Article
Facebook Copy Link Print
Share

Stay Connected

1.5kFollowersLike
4.5kFollowersFollow
2.8kFollowersPin
136kSubscribersSubscribe

Latest News

Health Tips For Women
Top 5 Health Tips For Women Over 45
Women Health
July 7, 2025
car accident lawsuit
Let Your Lawyer Handle the Work Before You Pay Medical Costs
Policy & Law
July 6, 2025
women dental care
What Is a Smile Makeover and How Much Does It Cost?
Dental health
June 30, 2025
HIPAA-Compliant Messaging Apps
Top HIPAA-Compliant Messaging Apps for Healthcare Teams
Global Healthcare Policy & Law Technology
June 25, 2025

You Might also Like

The Importance of Collaboration in Your Hospital

November 21, 2013

Big Vertex Bonuses Seem Defensible to Me

May 7, 2015
Evaluating Doctor Conduct
BusinessHealth ReformHospital AdministrationMedical EducationMedical EthicsNewsPolicy & LawPublic Health

Taking a Fresh Look at Disruptive Physician Conduct

September 17, 2014
Hospital AdministrationMedical EducationMedical InnovationsNewsSocial MediaTechnology

The Insider’s Guide to Nurses and the Internet

November 11, 2011
Subscribe
Subscribe to our newsletter to get our newest articles instantly!
Follow US
© 2008-2025 HealthWorks Collective. All Rights Reserved.
  • About
  • Contact
  • Privacy
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?