MGMA Mkt. Survey Results

I came upon a short yet recent survey on the MGMA web site where they were polling practice managers on “What works and what doesn’t” when it comes to marketing a practice.

They received a viable number of responses to qualify the survey results and the published answers gave an interesting insight into the state of marketing in today’s medical practice.

Note: Survey results came from a broad mix of Primary Care, Family Practice and assorted specialists.

 

1)      When asked: Do physician practices need to market their services more now than in the past…

81% said Yes     19% said No

2)      When asked: Have you increased your marketing, advertising budget over the past 5 years…

67% said Yes     33% said No

So…81% say they need to market more now than ever and yet 33% have not increased their budget over the past 5 years.

3)      When considering your top 3 marketing, advertising venues;

Which are the most expensive?

  • Sponsorship of events and charities
  • Yellow pages
  • Newspapers & Magazines

Which are the least beneficial?

  • Yellow pages
  • Sponsorship of events and charities
  • Health fairs

Which are the least expensive?

  • Social media
  • Health fairs
  • Speaking events by providers

Which are the most beneficial?

  • Social media
  • Speaking events by providers
  • Sponsorship of events and charities

It seems we cannot agree on sponsorship of events and charities as some see it as a most beneficial while others see it as least.   The “Take away” that I see from this is that social media and speaking events by providers appear to be the best return on investment for most practices!

Lastly the survey asked: What type of marketing, advertising venues do you currently use

64% still sponsor events and charities

43% still use yellow pages

17% invest in billboards

17% use radio

12% said TV

43% said newspaper advertising

31% noted magazine advertising

 

67% use special events

62% Social Media

55% speaking events by providers

55% Health fairs

19% use E mail marketing

Another take away from these survey results show that many of us get stuck in our old way of doing things despite knowing better. We’re still renewing the old yellow page ad, we’re still paying for that 3-color ad in the local community magazine, and we’re still supporting events and charities that don’t necessarily benefit us.

There are different ways to market general practitioners versus specialists but both would benefit by cutting their costs associated with the above highlighted venues while focusing their time and resources on speaking events, special events, social media and web presence.  A seasoned marketing rep from Practice-Reps can help you by contributing to your web site and Facebook page by keeping your content current for stronger SEO.  Your rep can create lunch and learns and other special events that strategically get you front of the right audience with the right message to build the relations needed to change referral patterns.

Stop doing the same old thing and getting the same old results.  Listen to your peers from MGMA and adjust your marketing venues and strategy for the best return on investment for your practice.

We know what works to grow a practice. Call us today, we can help.

Call 610-310-1621.

This entry was posted on Wednesday, April 15th, 2015 at 12:47 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.