Why Should You Outsource Marketing Your Medical Practice
1. It’s What Successful Medical Practices Do
A recent study by Bain & Company found that only 1 in 10 businesses achieved sustained, profitable growth. What makes this top tenth successful? The results showed that 85% of the companies that sustain profitable growth outsourced aspects of their business that fell outside of their core competency.
While some may see the opportunity to cut costs by managing marketing themselves, the reality is that a ‘jack-of-all-trades’ mentality can sometimes hinder success. This mentality distorts a person’s ability to recognize when help could be beneficial.
The world is moving at digital speed these days. Allowing marketing to fall on a mile-long list of “need-to-do’s”, without enough time to develop a strategy, will impede acquisition of new patients and keep you from meeting your full potential. By outsourcing your marketing strategy, you can operate at the speed of today’s digital-age and get the information to your prospective patients WHEN they need it.
3. Marketing Requires An Array Of Skills
A good marketing agency brings these advantages to the table: website design and development, SEO and mobile optimization, social media management, multi-channel online advertising and comprehensive analytics to determine the most effective way to spend your marketing dollars. Additionally, an outsider is more likely to think like your buyers and create material that speaks to their needs.
Marketing any small business the right way takes time, which can be difficult to find while managing your practice. It’s also important to consider the potential training time needed for your staff to assist in your marketing. There’s no reason to overload your staff or yourself, especially if it’s more efficient and cost-effective to put an outsider on the job.
5. Return on Investment
Utilizing the services of a marketing agency will offer a higher return on investment for your small business’ advertising dollars than any internalized alternative. Before you take on the task, consider the opportunity cost. Will spending time on marketing reduce your availability to see or service patients? Can you earn more in the time it takes to educate yourself in the range of skills needed to effectively promote your business, than you would spend on marketing help?
Bottom line on Medical Practice Marketing
While hiring an in-house marketing resource, even a marketing MBA individual, may be right for your practice, it can also mean a static skill set in medical practice marketing. Spending that same $120,000 with an agency looks quite different because at any one time you can tap into a wide variety of expertise from a team of web marketing gurus who are immersed in their respective fields all-day every day. Marketing requires a fluidity of resources that change day-to-day and month-to-month. You may require a ramp up on an email marketing campaign in the beginning of the month then move to website design/refresh in the latter part of the month, blogging skills are needed weekly, medical search engine optimization (medical SEO) continuously, and the following month, you may need strategy and execution of an event marketing campaign, or boosting your presence on social media.
Plus, with an agency none of your marketing dollars go toward vacation time or holidays. All of those dollars are being employed directly toward marketing your business; versus internal meetings, overhead, et cetera. It’s a direct infusion of your dollars into marketing execution.
On a final note, every day our agency employees are either working on your account, or another medical practice with the same or similar challenges. We’re immersed in medical marketing every day – an each day add insights into your marketing campaigns gleaned from historical data. We’re data driven and focus on the efforts that we know yield the best results. We’re always reading the latest reports on Google algorithm changes, or attending seminars, webinars or conferences on search engine optimization, medical marketing, media buying, leveraging web analytics data to drive more referrals, optimal email campaigns, and looking at recent social media and ad buying developments and technology platforms that allow us to deliver better results.
We focus on your medical practice marketing, so you can focus on what you do best – patient care.