<img src="http://www.svr-prc-01.com/23018.png" style="display:none;">

How to Calculate the Return on Investment from Each Ad Channel

By Meagan Simmons on August, 14 2018
Meagan Simmons

Meagan comes to Ren Scott Creative from the scorching hot desert of Arizona, but it's her cool demeanor and get-it-done attitude that keeps it all moving forward in the digital department. Speaking of moving, you may find her at your local gym teaching Zumba when she's not rockin' "the Google."

When it comes to crafting a comprehensive medical marketing strategy, the end result should be clear—revenue growth. But without a black-and-white, quantifiable way to measure your efforts, how can you get an accurate idea of which tactics are working and which ones aren't?

bigstock-Flat-Isometric-Vector-Concept--227318701

Like any other part of business, your marketing plan should be anchored in goals you can easily track and measure. Otherwise, you'll never know if you're actually moving the needle in the right direction. This is where analytics come in. Regardless of the ad channel, assessing data points in real time is crucial to understanding how valuable your marketing plan is and, in turn, if you're getting a worthwhile return on your investment.

It goes without saying that supercharging your marketing strategy goes beyond simply looking at the data. It's also about interpreting it— spotting trends and making connections in order to course correct as you go. If, for instance, you see you're getting little traction on a specific social media platform, it's time to rethink your approach and realign your messaging.

Sharing Data With Clients

Of course, you can't implement data-driven strategies if you don't have access to the most up-do-date numbers and insights. Competitive medical practices rely on a mix of technology, experience and expert guidance to connect all the dots. This is precisely why working with a medical marketing agency is so appealing. You can focus your attention on patient care, while the experts create a data-driven marketing campaign.

When going this route, just be sure to go with an agency that's upfront and transparent with the data itself. At Ren Scott Creative, our clients have access to a user-friendly dashboard that showcases analytics in real time. That means we're all on the same page and looking at the same numbers. This empowers clinics to take part in the decision-making process because they can see in black and white their ROI for each ad channel—and, more importantly, which strategies are leveraging the best results.

free website marketing assesment

A common misunderstanding in medical marketing is that if something's getting clicks, it's working. The real measure of success is what happens after the click. In other words, how are your marketing tactics actually driving revenue and helping you meet your clinic's goals? Unless you're well-versed in the many nuances of medical marketing, things tend to get tricky when you're dealing with mixed media campaigns since measuring success varies from medium to medium.

At Ren Scott Creative, demystifying marketing analytics is our bread and butter. What makes us stand out from the pack is that we don't rely on smoke and mirrors. Instead, we're all about transparency so that clinics understand the rationale behind every goal-driven marketing decision. At the end of the day, that's what matters most.

Submit a Comment