Measure the effectiveness of healthcare campaigns : Measure your metrics with free templates

Introduction

When one brings up the subject of analytics and tracking your marketing KPIs, most healthcare marketers are up-to-speed with just the basics.
Unfortunately, the rabbit hole goes deeper.
There are several other KPIs that you must establish and follow through with, to achieve a successful medical marketing campaign.

By tracking your marketing KPIs, your company can make necessary adjustments to strategies and budgets.

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Here are the top six metrics that you should use to analyze the effectiveness of your healthcare campaigns.

Bonus Tip :
Understand the tricks of healthcare marketing and become a healthcare marketing pro with Our Definitive Marketing Guide for Healthcare Marketers

1. Customer Acquisition Cost

Customer Acquisition Cost (CAC) is the total cost of convincing a potential customer to buy a product/service.

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CAC= Sales + Marketing expenses/ Number of New Customers Acquired.

For instance, if you spent $200K on marketing and $100K on sales in a year, and acquired 100 customers in the process, then your CAC is $3000 {(200K+ 100K)/100= 3000}.

From paid-search to social media, blogs to email marketing, it is pivotal to consider all marketing channels to get a more reliable CAC.

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2. Customer Retention Rate

Customer retention rates equate to the cost it takes to retain existing customers.

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Calculating CRR can vary from one healthcare company to another.

To calculate your customer retention costs, find the difference between the amount you are spending on retaining them, and the number of customers that have stayed in the fold throughout your campaign.

Use the formula mentioned herewith to get a clear idea of your customer retention rate.

3. Customer Support Response Time

A good healthcare organization understands that the best way to stay connected with their audience is to provide impeccable customer service.
Delays can cost you valuable customers.
You should always work on improving your Customer Support Response Time. For a more precise measurement, refer to the template given below.
It maintains the inquiry registry and response times, this will allow you to calculate the total customer support response time.

4. Engagement

Engagement metrics are essential to evaluate your overall brand awareness and market penetration.

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Engagement on social media includes likes, shares, comments, reactions, and total clicks.

To calculate the engagement rate, divide the total number of engaged users with the overall reach of a post, and multiply that figure with 100 to derive a final percentage.

5. Effectiveness of Content

The effectiveness of content used in the campaign is one of the easiest to measure.

Metrics such as website traffic, subscribers, ranking on search engines, total time spent on the website, bounce rate, CTR, leads generated, feedbacks, and links and authority are all considered to calculate the effectiveness of content.

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To get a clear idea of these metrics, download this template.

6. SEO

SEO is an essential aspect of calculating the success of any website. You can calculate the success of SEO based on off-page and on-page performance. Tools like Google Analytics or Moz Local are already available and can help you calculate the performance of your campaigns.

They allow you to understand where your keywords rank and what you can implement to outrank your competitors.

Gain cost sensitive healthcare leads!

To Conclude

Our digital environment has always been susceptible to a wide range of data tips and tricks that allow us to navigate it in a more refined manner. How you choose to utilize them is what counts.

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The alignment of your marketing efforts with your ROI is entirely dependent on the quality of data you gather.

Ensure that your healthcare marketing campaign

has an agenda and pre-defined goals.

This will help you analyze your campaign.

It will also provide a base for your healthcare marketing campaign metrics.

If you think we have missed a spot, let us know in the comment section below.

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Evangeline is a content writer and strategist at ReachStream, who believes that words and expression complete a person. An enthusiastic reader, she loves to spend time learning more about different cultures.