Let’s get one thing straight; the B2B purchasing process is not a one-size-fits-all message. Everyone has to be talked to differently. If you don’t, there are plenty of other competitors out there that are willing to craft a direct message to their intended target. Which means they get the business, not you. (more…)
The best brands tell stories. Stories that their clients and customers relate to, find compelling, elicit emotion and most importantly – motivate. The content that is created and shared on Instagram can solidify a brand’s identity and relationship with their audience. But, sharing the correct content is always key. (more…)
Years ago businesses would’ve paid top-dollar to be in the room engaging with their target audience, listening to their needs and wants, and (hello!) responding to them. Twitter and social media are as close as we’ve gotten so far.
I first heard that mentality a few years back from social media advocate, Scott Stratten. So, how does this translate to brands today? Twitter in the B2B space is imperative and ever-lasting, providing opportunities that are beneficial to your brand’s identity. 
Facebook was an easy transition because, for so long, it stood alone. It gave social media ‘outsiders’ the ability to learn at their own pace. Now we have Google+, Instagram, Vine, etc. It can get overwhelming. But, the one I hear to be the most challenging (but oh so prevalent) is Twitter. If I had a quarter for each time I heard “I just don’t get it” – well, I’d be on a private island (tweeting, of course).
While it can be intimidating to those who are unfamiliar, especially as a business, Twitter in the B2B space is important, and you need to participate. Sorry to bring down the hammer, but no more holding back! Here are a few steps I suggest when approaching Twitter:
Immerse Yourself:
Don’t knock it ‘til you try it, right? You must immerse yourself in the platform to see its worth. Research the ins and outs of Twitter, watch a few videos, read a few blogs. Learn what a tweet, retweet, favorite, list, reply, etc. is all about. But, always remember the most valuable social media lesson – LISTEN. Watch and listen, and things will start to make sense.
Set Goals:
How can you measure success without setting goals? Determine what you’re ultimately trying to do with a presence and participation on Twitter. If we’re talking B2B, I think it’s safe to assume it’s to garner more sales, correct? How many more? What’s important to you? Your business? Your brand? Think big picture, and then we’ll get to the strategy.
Make a Plan:
To me, this is still very different than setting goals. This is how we’re going to get there. This plan may very well be tiered. It could include: establishing an identity, working toward increasing your brand’s awareness, targeting the folks you want to connect with, providing valuable information to your targeted audience to create authority, being human and not just a robotic sales-hungry account. Goals are far easier to reach if you know how to get there.
Start Talking:
Jump in! Now that you have the steps in place, you need to start conversing. If you’ve targeted the folks you hope to begin a relationship with, start replying to things they have to say. Prove that you have something valuable to say as well. The easiest way to ramp up your identity on Twitter is to get comfortable and show that you want to be there. Why you are there will come through in your content.
Do I believe there is a place for every business on Twitter? It’s debatable. But social media is ever-evolving, as is your audience. So, do yourself a service, and be prepared. Be goal-oriented. Be proactive, not reactive. Make a stand for yourself. Prove that you belong, and that you are the valuable authority in your industry. This is your chance. Twitter is your platform. Hop up there and take advantage of it.
Don’t know where to start? Follow us on Twitter or contact us using the form below and we’ll get you acclimated.
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Geile/Leon Marketing Communications has won two 2016 Bronze Telly Awards for online videos produced for a Union Pacific Railroad initiative that raised awareness about the safety concerns and legal implications of taking high school senior photos on or near railroad tracks.
Playing on teens’ desire to look “cool” and not foolish in front of their peers, G/L created two videos that likened railroad tracks to busy thoroughfares (such as highways and busy downtown streets) and asked teens a simple question: “You wouldn’t get your senior photo taken here…so why would you do it on the tracks?”
The videos, shared socially and digitally by Union Pacific, greatly resonated with their audiences. The videos have been featured in articles on popular photography sites including SLR Lounge, Fstoppers, and PetaPixel, and were also included as part of a Nightline ABC story.
“Changing behavior and perceptions through a campaign is no easy task,” said G/L President and Brand Strategist Tim Leon. “We were able to use social media content and two online videos to connect with both the teen and photographer audience. By producing such creative content, we were able to get widespread viewership and impactful results with a minimal budget.”
Leon explains that G/L presented the two concepts to Union Pacific in a rough cut format, but the story was so engaging that the client decided that additional work wasn’t required. With solid strategy, good creative and proper execution, he says, a campaign can exceed expectations and more effectively compete against campaigns with bigger budgets.
The Telly Awards was founded in 1979 and is the premier award honoring outstanding local, regional, and cable TV commercials and programs, the finest video and film productions, and online commercials, video and films. There were more than 13,000 entries from all 50 states and five continents. More information can be found here.
As we continually tell clients: Even the best products and services often get lost in a crowded marketplace. Trends come and go but a strong brand plays a vital role in a company’s long-term success.
But what is the value of a strong brand?
We who work in marketing already know that companies that work to build a distinct and strong brand enjoy many benefits. These include how customers feel about the organization, reasons why the company’s products/services are distinct from the competition, and even how it affects employee morale. But these are intangible benefits and their values are often hard to measure.
However, there are tangible values associated with a strong brand, according Trevor Hulett, Managing Director of Investment Banking for R.L. Hulett, a well-established financial services firm that offers a variety of services including assistance with mergers and acquisitions. Simply put, Trevor says a stronger brand leads to a higher gross margin on sales of products/services which equates to a higher valuation of an enterprise.
For example, to determine the value of a business to sell or purchase, Hulett considers the enterprise value. The enterprise value includes asset value (tangible values) plus working/current liabilities and all intangible goodwill, which may include its brand, a strong management team, unique technologies or innovations. A major aspect of goodwill comes from its brand.
Hulett says that a company’s enterprise value is increased through a strong brand, as well as its value in attracting potential investors or buyers. These investors and buyers are willing to pay more for a company with a strong brand because after all, a strong brand leads to: better name recognition that breaks through a cluttered market; “word of mouth” endorsements; better customer loyalty; and an engaged and excited workforce. These benefits add to a company’s success and therefore, the overall value.
Companies, regardless of size and industry, that have services or products that are perceived as being higher in the value chain in terms of strong brand, can charge more. That enhances the gross margin, according to Hulett. Strong brands are good for ongoing business, therefore, but they are also advantageous when it attracting and negotiating with investors, he explains.
Brand is a major aspect of the goodwill or “multiples” that can be assigned to company’s worth in addition to the EBITA (earnings before interest taxes depreciation amortization). A higher gross margin attracts more potential buyers, which will drive a higher multiple on the earnings and a higher purchase price.
Companies who can position themselves better than their competitors will benefit from better pricing leverage. And, as buyers conduct their due diligence with customers, good brand feedback can drive up the multiple on a higher EBITA.
While having a strong brand can add to a company’s value, it is important that be “institutionalized” and not too dependent on the founder or other individuals, so that it can be transferred to new owners with minimum interference.
Hulett cites the importance of companies partnering with strategic marketers who can help to create and shape their brands so that they can be leveraged to grow and enter new markets and new relationships. Successful brands should be clearly defined and well communicated, he says, but also should be “scalable” so that a local brand can grow nationally, or a national brand can become a global brand.
And, like tangible assets, brands must be continually monitored and maintained. They are dynamic, not static. If the opinions of industry leaders and customers change in a negative way, the value of a brand can be reduced.
If you are considering selling, purchasing or investing in a company, I’m sure Trevor Hulett could offer you some good advice. He can be reached at 314.721.0607.
And if your company has the best products and services but is lost in a crowded marketplace, we’d be happy to share our approach to building strong brands. Give me a call at 314.727-5850 or fill out the form below.
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Okay, I have to admit it. I have been disruptive most of my life. But in a fun way, just ask my mom. I didn’t think of it as being disruptive at the time. I just thought I was just having fun in grade school. I was sent to the hall, or the principal’s office more times than I care to remember. But you know what? my teachers remembered me. And that’s what I want you to do with your healthcare marketing.
I have applied that talent (and I use the word loosely) to advertising and healthcare marketing for our clients. Take Metro Imaging of St. Louis for example. Metro had a very unique selling position. They could offer unprecedented, upfront pricing for X-rays, CT scans, and MRI’s that hospital radiology simply couldn’t do. Can you imagine buying anything and not getting the costs until after you’ve bought it? At Metro Imaging, you’ll get the complete cost breakdown of your exam, such as how much insurance will cover, what your deductible is, and how much you may need to pay out of pocket. Plus, Metro Imaging can give patients immediate, On-Site Results of their exam, from a real, licensed radiologist before they leave the building. Now think about that for a second.
Better upfront pricing, and patients can get preliminary results of their exams before they leave. So now we are not just selling imaging exams, we are selling peace of mind. So if you have an immediate concern about your medical condition, you can be put at ease right away, instead of spending weeks worrying about the results. You can then talk about it with your personal doctor at a later date. That’s powerful.
I had talked with a few healthcare marketing managers from major hospital systems (you can read more of their insights in our new Healthcare Marketing whitepaper) at the time of this campaign, and they all said, something to the effect of…“You know, you guys really threw us for a loop on that campaign.” I said, “How so?” They said:
“We had several uncomfortable board meetings about your campaign. Our hospital system couldn’t calculate costs of imaging exams up front like Metro Imaging could. It was just too complicated. Plus, we couldn’t figure out how to do the OnSite results thing. We just physically couldn’t do it.”
So, with Metro’s strong, unique abilities and selling position, the next step was to creatively deliver that message in a memorable way. I thought who better to deliver that message than the medical exam images themselves. We call it the Skeleton Campaign. Not only did we produce a memorable and impactful TV campaign, we wrapped entire buses in routes that went right past the hospital locations, telling everyone what Metro could do, and what the hospital couldn’t. A unique selling position, creatively delivered, that actually changed a consumer mindset and behavior. That’s disruptive! And the results were phenomenal!
If you’d like to learn more about the latest healthcare marketing trends, click the link HERE or fill out the form below:
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How often do you, as a rural hospital marketer, think this about lost patients?
“Come back! This is where you need to be!”
I still remember these words by Sister Eilleen. I was 16 and waiting for an evening teen religion school class at my church to begin. Out of the window I saw Jeff, a friend, being dropped off by his mother. Jeff got out of the car and proceeded to walk towards the church. But as soon as his mother drove away, he quickly changed directions and headed towards the foosball arcade. When the nun saw this, she quickly opened the window and yelled,
“Come back. This is where you need to be!”
How often do you hear yourself, like Sister Eilleen, nearly screaming this to lost patients? Outlying hospitals seem to face an all too similar problem: local residents leaving their city to visit a hospital in a larger community.
Patient Outmigration is a big concern for rural hospitals. The National Research Corporation surveyed 200 U. S. hospitals and published some of the results in their article, The Case of the Impatient Patient. According to the research, 37% of those that travel to a distant hospital report doing so because of the reputation of the provider outside of their locale. These people travel an average of 66 to 90 miles for a variety of services including Heart Care (13.9 percent), Orthopedic Treatment and Surgery (13 percent), Neurology (11.5 percent), and Cancer Treatment (9.5 percent).
And another interesting outcome from the research was the household income level of these outmigrators. Conventional wisdom may lead to thinking those with high household income are more likely traveling to other cities. However, the opposite seems to be true – the lower the HHI, the higher rate of percentage of patient outmigration. As the report notes, the poorest households had the highest outmigration rate, while those earning over $100k had the lowest outmigration rate of all.
We here at Geile/Leon speak with many outlying hospitals. What we hear is that often the local hospital offers the same level of care, outcomes and amenities as a big city hospital, all located within a very short drive, yet some patients insist on going further for their care. So if it’s not better care that attracts patients to larger hospitals, maybe it’s a perception problem (This is one of the many issues facing the healthcare industry as you can read more in our Healthcare Marketing Whitepaper).
Are your local residents making the long drive to other cities when they could receive the help they need close by at your hospital? Do you have a good story to tell but not getting the results you hoped for?
If patient outmigration is a concern, give us a call at 314-727-5850 and ask for Tim Leon. We would love to hear about the issues you are facing and maybe show you a few relevant examples of how we helped our clients with similar challenges. At Geile/Leon, we enjoy working with rural hospitals ranging from 80-200 beds. We’ve helped them refine their brands, improve their messaging, and increase patient visits.
Maybe with a few adjustments to your MarCom will keep you from yelling:
“Come back! This is where you need to be!”
We are looking forward to meeting you. And if you’re not ready to meet right at this moment, that’s totally fine. But we’d definitely recommend checking out our Special Report for Healthcare Marketers in the meantime by filling out the form below:
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As Accountable Care Organizations (ACOs) continue toward mainstream adoption, they are positioned well to compete against fee-for-service organizations. Accountable Care Organizations are seeing historical growth across the country (see charts below), and with that an innovative marketing approach to a new healthcare model is definitely needed.
Source: Leavitt Partners Center for Accountable Care Intelligence
It’s been well established that the goal of Accountable Care Organizations is to make healthcare more affordable for patients by offering coordinated, effective and efficient patient-centered care. With that shift, developing a new marketing strategy that speaks to better overall health, emphasizing preventive medicine and incentivizing quality over quantity will help patients experience improved outcomes and greater long-term benefits is vital (For additional information on healthcare marketing strategies being considered by providers, check out our new Healthcare Whitepaper).
This transition will not be easy, as patients have been trained to react to healthcare issues when needed, instead of taking a proactive approach to overall wellness.
As you move forward with these thoughts in mind, here are a couple ideas that can help with the development of your plan:
Promote Market Wellness – move away from promoting specialties and technology and showcase wellness and preventive measures to encourage better overall health.
Communicate the benefits of Accountable Care Organizations – don’t assume consumers understand what an ACO is or how it benefits them. Communicating the benefits of coordinated care is key.
Get Physicians Involved – Physicians and nurses are the best advocates for Accountable Care Organizations because they have direct contact with patients. Provide them with communications materials to share during and after visits that explain the benefits and answer questions about the ACO.
Good luck in developing your new Accountable Care Organizations marketing plan. We’d love to partner with you to answer any questions you might have or to even help you with your plan. Or if you’re looking for additional healthcare insights, check out our brand new white paper here or by filling out the form below:
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References:
Franklin Street – “Tips on Successfully Marketing Accountable Care Organizations” by Stephen Moegling
Smith & Jones – “Transitioning Marketing Efforts to the ACO Model”
Health Affairs Blog – “Growth and Dispersion of Accountable Care Organizations in 2015” by David Muhlestein
A brand making the decision to “go digital” is basically a cliché these days. Nearly all companies have some form of website or online home. A vast majority of brands have some social media presence. Digital is everywhere.
And yet, a unified digital approach is something that’s still lacking across the World Wide Web. Digital components don’t align with non-digital components, social media posts don’t have the same brand tone as certain sections of the website and there’s no real way to measure whether anything being done is working.
While a wide mix of marketing tactics can work to generate results, effective, consistent content marketing generates three times as many leads as traditional outbound marketing, but costs more than 60% less. Certainly there is some cost to getting everyone involved on the same page, but it’s nowhere near the costs of giving up consistent results like that. Whether you’re on the B2B or B2C side of things, there’s value in inbound marketing.
A misconception is that inbound marketing is a tool for larger companies. While an inbound marketing program certainly requires some training, it’s nothing that isn’t manageable. Even here at G/L where a talented, albeit nimble team, we’ve haven’t had too many growing pains in getting on board. Regardless of size, industry or audience, there are plenty of inbound marketing opportunities to grow from.
As discussed in our 2016 Healthcare Marketing Trends white paper, many executives are presented with social media as the answer to reaching a younger audience. And while many millennials can be reached using newer tools, it isn’t always the answer in itself.
From our recently released report:
“Social media is a scalpel. Wielded correctly, with a strong strategic plan backing it, you can deliver a delicately crafted message precisely where you need it to go. But when handled without care, social media can do more harm than good.”
That doesn’t mean scrap social. Rather, it means you should strive to make it mean something as part of a larger, digital, inbound marketing strategy.
Want more insights from our team and some of the leading healthcare industry experts? Download the full report here, get ahead of the curve and see what you’re doing right and what you could be doing better. Or fill out the form below and get the report instantly:
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A recent blog article from The Advisory Board summed up the conundrum healthcare organizations face when it comes to price transparency:
“When patients search for the cost of an upcoming procedure, they typically find the average price for the service. Unfortunately, this information fails to reflect the actual patient obligation. This type of inaccurate estimate can decrease volumes and patient satisfaction.”
Like it or not, as marketers, we have to take the confusion out of healthcare pricing, especially non-emergency procedures. It’s stressful enough for consumers to navigate the healthcare waters. There’s a tremendous opportunity to make price transparency real for patients and offer valuable information that helps them make informed healthcare decisions – while providing them much-needed peace of mind.
Slowly, healthcare organizations are introducing more patient-centric price transparency with easy-to-understand pricing information, so patients see their true financial obligation. Like it or not, that is becoming more important as high-deductible insurance becomes the norm for many healthcare plans.
I’ve seen the power of real price transparency first hand with Geile/Leon’s diagnostic imaging client Metro Imaging, who recently introduced an online pricing tool that provides patients an estimated exam cost taking into account the patient’s insurance coverage. It took me less than a minute to get my price information in a secure, private online environment. And if the patient needs what their out of pocket obligation will be, all you do is call Metro Imaging and they will calculate that expense for you.
As you can imagine, it’s exciting to have something unique and valuable to market to consumers. The television spot we developed for Metro’s upfront pricing is not over the top and the theme is simple “Clarity in Healthcare”. The message speaks for itself, so we didn’t hide it with a bunch of jargon and eye candy. It’s not necessary when you have such an impactful message and point of difference!
As a healthcare marketer, it’s been so gratifying to see what I think is the beginning of real price transparency in healthcare. And for those organizations that can develop the technology and operational changes required to offer patient-centric priding, it will be a true competitive advantage and result in overall better patient satisfaction. If you have other examples of real price transparency in healthcare, I’d love to hear from you.
Also, don’t forget to check out our brand-new healthcare white paper HERE or by filling out the form below:
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