| We have previously discussed the research | | | | Here are several options: |
| needed to create a marketing strategy that | | | | - "A doctor's guide to choosing the best |
| identifies a target demographic. The purpose of | | | | treatment options for your perimenopausal |
| this research is to allow us to compare our | | | | symptoms" |
| relative strengths and weaknesses verses our | | | | - "Tired all the time, irritable, depressed, gaining |
| direct competitors strength and weaknesses | | | | weight? These are symptoms of perimenopause" |
| within the marketplace. Once our relative position | | | | "Learn about modern treatment options." |
| in the competitive marketplace has been | | | | - "What every women should know about |
| researched, a strategy that pits our strength | | | | perimenopause and how she can feel good again." |
| against our competitor's weaknesses can be | | | | Really with the space the booklet provides the |
| formulated. This process is called marketing | | | | headline can be extremely specific. You can use |
| strategy. | | | | subtitles and even an excerpt from the content |
| Part of the marketing strategy is to formulate | | | | on the cover. So in terms of our warhead, which |
| headlines and ad copy based on our relative | | | | one do you think produces a bigger bang? |
| position in the marketplace. We want our | | | | "Got Hormones?" or "Tired all the time, irritable, |
| marketing to highlight our relative strengths | | | | depressed, gaining weight? These are symptoms |
| against the relative weakness of our direct | | | | of pre menopause" "Learn about modern |
| competition. All of this positioning must be crafted | | | | treatment options." |
| within the context of the solution to a specific | | | | With the coffee cup the story ends here. |
| problem that exists in a coveted demographic | | | | Because of space restrictions you can't really get |
| within our marketplace. The ultimate goal is to | | | | much more detailed. You might put your name on |
| create a perception within the collective minds of | | | | the mug, but you would be hard pressed to add |
| our demographic that we have the best answer | | | | much more information. The catchy headline "Got |
| to solve their specific problem. This well | | | | Hormones?" hopefully will start conversations |
| researched, well crafted message is our | | | | about you and your services. The downside of |
| marketing warhead. | | | | this is obvious however. If you give your coffee |
| The more congruent our message is with the | | | | cups to a patient or the owner of a trendy salon |
| wants and desires of our coveted market | | | | and if one of her customers sees the mug and |
| demographic, the bigger bang we will receive | | | | asks the proprietor about hormone replacement, |
| from our marketing efforts. This "bang" is | | | | what are the odds that layperson can represent |
| measured as our response rate. This process of | | | | you and your services in a dramatic, appealing and |
| marketing strategy sends us into battle | | | | informative way? Patients rarely remember to |
| (contention for potential patients) under | | | | take their medications yet alone the reasons why |
| advantageous conditions. The process we have | | | | they should and all available options you discussed |
| just described is the definition of marketing | | | | with them. |
| strategy. The better the marketing strategy, | | | | In other words, the coffee cup doesn't allow you |
| more effective the headline and ad copy. Notice | | | | to give enough information to sell your service to |
| that we stated the better the strategy the more | | | | a prospect. It relies on third party information. |
| effective the headline and copy will be. We didn't | | | | The coffee cup hits a dead end rather quickly. |
| say the more effective the marketing campaign | | | | So in terms of a marketing warhead the coffee |
| will be. This is because there is one more major | | | | cup is more fizzle than bang. There is simply not |
| consideration that helps to determine how | | | | enough space on the cup to allow you to create a |
| effective or ineffective a marketing campaign will | | | | headline that is in alignment with your target |
| be. The other piece of the puzzle is your delivery | | | | markets' problem, yet alone enough space to |
| systems. | | | | educate her on how you have the solution to that |
| If the strategy and the headlines and ad copy are | | | | problem. In other words, there is no way, using a |
| the warhead of your marketing campaigns, the | | | | coffee cup, to position you and your service in |
| next step in successful marketing is the missile or | | | | the mind of a prospective patient. Unless of |
| delivery system. | | | | course you sell coffee. |
| The variables for marketing success are the | | | | In terms of effectiveness, the coffee cup while |
| quality of your research, the art and science of | | | | seemingly relatively inexpensive is of dubious |
| your strategy development, the alignment of | | | | effectiveness. It doesn't matter how cheep the |
| your headline and ad copy with your marketing | | | | mugs are, if they are not effective they are |
| strategy and finally the efficiency and cost | | | | expensive. |
| effectiveness of your delivery systems. | | | | Let's go back to our full color booklet. |
| You can have a nuclear warhead when it comes | | | | It's full color so you can use appealing photos and |
| to knowledgeable strategy, headline and ad copy, | | | | graphics. There is plenty of room on the cover to |
| but will obtain mediocre results if you choose a | | | | place a well thought out headline that will stimulate |
| weak delivery system. Conversely you may have | | | | your target to read the copy. Then there is the |
| the best most effective delivery system and | | | | copy. With 15 pages you have plenty of time and |
| obtain marginal marketing results if your strategy, | | | | space to sell yourself as the answer to your |
| headline and copy are weak. | | | | prospect's problem. |
| Optimizing all three components and constantly | | | | You should always include a section that details |
| testing and perfecting these aspects of your | | | | your education and experience. This has been |
| marketing campaign is the key to effective, | | | | termed your unique selling proposition (USP) or |
| efficient and profitable marketing that produces a | | | | your exceptional value statement (EVS). It is your |
| handsome return on investment. | | | | chance to toot your own horn and you should |
| We have discussed the intricacies of developing | | | | toot it loudly. The purpose of the EVS is to |
| marketing strategy in another paper. The | | | | position you in the prospect's mind as the "go to" |
| marketing metrics required to evaluate the return | | | | doctor. Your EVS must be powerful enough to |
| on investment (which is another way to say the | | | | motivate the prospective patient to drive by |
| marketing efficiency) has been discussed in a | | | | hundreds of other doctors on the way to your |
| previous paper. This paper will integrate marketing | | | | office. So spend some time on it and if you don't |
| strategy and research with marketing metrics to | | | | feel comfortable talking about yourself, have |
| create a framework with which to evaluate | | | | someone read your CV and write your |
| marketing delivery systems. This process is a real | | | | exceptional value statement for you. |
| world method for first determining and then | | | | Next let's consider the body of your ad copy. This |
| improving both marketing effectiveness and | | | | is where your research and marketing strategy |
| marketing efficiency. | | | | comes into play. In your booklet you are going to |
| Before we can evaluate our marketing | | | | list the basic approach of all your competitors. |
| effectiveness and efficiency we must first define | | | | This may seem counter intuitive but remember |
| marketing effectiveness and efficacy. | | | | you will be highlighting their weaknesses as you |
| Marketing effectiveness is how well a campaign or | | | | go. You are going to offer up alternatives to your |
| the action steps within a campaign's execution | | | | own treatment approach, but frame them in a |
| produce a favorable response. What is a | | | | way that showcases their (your direct |
| favorable response and how do we know if we | | | | competitor's) specific weaknesses. You slowly |
| got one? Well despite what marketing aficionados | | | | introduce your answer to the prospect's problems. |
| might tell you, marketing execution can be | | | | If your copy writer is talented, he or she should |
| measured. There are several tangible | | | | be able to bring the prospect along so by the end |
| measurements that matter and they are new (or | | | | of your information booklet, the only logical |
| repeat) business depending on your strategy, | | | | conclusion for the reader is that you have the |
| revenue increase and profit | | | | best answer to their problem. Never bash your |
| Your marketing strategy can be judged to be | | | | competition, only frame your comparison |
| effective if 1. It produces new business, 2. It | | | | highlighting the strengths of your approach |
| increases revenues and 3. It increases profit. | | | | compared with the relative weaknesses of your |
| It has nothing to do with image, branding, | | | | competition. |
| awareness or intangible returns. | | | | This shouldn't be too difficult if you have |
| In the context of marketing a professional | | | | developed marketing strategy as we discussed in |
| practice, new business would be "kept" new | | | | previous papers. |
| patient appointments. Revenue is the gross | | | | Now within the booklet you should always include |
| collections increase from previous months and | | | | multiple ways for your readers to respond. Of |
| profits means your return on investments, also | | | | course your office address and phone number, |
| expresses as increased revenue minus the cost | | | | but also your web address and email. Perhaps an |
| of your marketing effort. | | | | invitation to take an on line survey and of course |
| By themselves these measures can give you a | | | | your innovative Ask-the-Doctor program. How |
| good handle on the effectiveness or not of your | | | | about a detachable postcard? |
| marketing execution. The next step is to eliminate | | | | All of these methods of response should be |
| marketing action steps that are not effective and | | | | interspersed throughout the text of your booklet. |
| to optimize those marketing activities that are | | | | Not hidden at the very end. |
| proven to be effective. Once marketing | | | | The most important thing to remember is that |
| effectiveness and marketing efficiency are | | | | your booklet should include valuable information. |
| optimized you merely repeat the most effective | | | | Don't worry that you might be giving something |
| and efficient action steps. Again and again. | | | | away for free. If your information helps the |
| This process is impossible without marketing | | | | patient they will consider you an expert. They will |
| metrics and return on investment measurement. | | | | consult with you when they need help. They will |
| In fact according to the Harvard Business School | | | | already know that you can help them, because |
| no marketing action plan is complete without | | | | you already have. |
| steps to measure and evaluate the | | | | Consumers are deluged with advertising offers. |
| implementation of a campaign. (1) | | | | Research shows they are more likely to read |
| (1) Harvard Business Essentials | | | | marketing material if it contains valuable |
| Marketer's Toolkit | | | | information that will likely benefit them. If your |
| Harvard Business School Press 2006 | | | | booklet is valuable it will have staying power. It |
| Let's look at an example at how all this works. | | | | may also be copied and passed around. It might |
| Let's compare giveaway coffee mugs with a full | | | | be a good time to mention that you should waive |
| color print on demand booklet. Online print on | | | | the copyright and tell the reader to feel free to |
| demand printers can produce a 6.5 x 9 inch full | | | | make copies and pass the booklet around. |
| color saddle stitch booklet at a cost of $6.50 per | | | | So after reading this article do you still think that |
| unit. Let's compare this against a custom imprinted | | | | coffee mugs are an effective way to market? |
| coffee mug, available for an average cost for | | | | Are they efficient? They may cost less than a full |
| mugs of about $1.50 | | | | color booklet, but do you think they are more |
| At first glance the mugs seem like a much better | | | | cost effective? |
| marketing investment. | | | | If a marketing action step produces no return on |
| But are they? Let's say our coveted marketing | | | | investment, is it a good a deal at $100.00, $50.00, |
| demographic is women ages 35 to 55 and we | | | | $5.00? Do you want to repeat it again and again? |
| have found through are research that this market | | | | Conversely if you spend $2000.00 on action steps |
| segment has a health problem: menopause or | | | | than returns $10,000.00 to your practice, is it |
| perimenopause. | | | | expensive? |
| First let's look at headline opportunities. | | | | You can't tell which actions steps are smart, |
| With the coffee mug you are severely limited by | | | | effective and efficient marketing unless and until |
| space. You'll need to try to create a slick trendy | | | | you measure. |
| and catchy headline. Something like: | | | | This article provides a brief glimpse at the metrics |
| "Got Hormones?" | | | | and thinking behind the marketing metrics that will |
| There is not much room on a mug to do much | | | | help your choose effective and efficient methods |
| else. What are our options with the print on | | | | of marketing your professional practice. Refer to |
| demand booklet? With the booklet, space | | | | my other articles on marketing strategy and |
| constraints are not an issue. | | | | marketing metrics. |