View
94
Download
0
Category
Tags:
Preview:
DESCRIPTION
What does cost-effective mean? Are you getting value for money? This presentation will explain this and more. It will explain about how to measure to see how cost-effective your market place product is and whether the ROI (Return of Investment) is working for you. From this presentation you will learn that training your staff has a much higher ROI and you will increase conversion rates, from telephone calls to bookings, from bookings to consultations and so on.
Citation preview
Cost-effective ways to attract new patients
Cost-effectiveadjective
1. effective or productive in relation to its cost
2. good value for the amount of money paid
“the most cost-effective way to invest in the stock market”
!
source: 1. Oxford Dictionary, 2. Cambridge Dictionary
How do we know if something is cost-effective?
By measuring its return on investment, or ROI
The most frequently used method of measuring ROI is
!
ROI = Gain from investment - Cost of investment / Cost of investment
An example of ROIROI = Gain from investment - Cost of investment / Cost of investment
!
100% = £1000 - 500 / 500
!
Buy a home for £500,000, sell it for £1,000,000, you generate a 100% return. (Good investment)
Buy a car for £10,000, sell it for £5,000, you generate -50% (bad investment)
What do you think the average return on investment for marketing is?
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
Source: The Neilsen Company 2013
Global Marketing Return on Investment (ROI) - Incremental Revenue per $ spent
0
0.75
1.5
2.25
3
Online Ads Promotions Magazines PR TV advertising In-store programs Outdoor Ads Newspaper
ROI (short term) ROI 2 (long term)
9%Source: The Neilsen Company 2013
Average Marketing ROI
For every ($, £, €) 1.00 spent, you can expect to get ($, £, €) 1.09 back…
Why doesn’t it work???
What are traditional marketers doing now?
What are online marketers doing now?
How does marketing compare with other
means of attracting new patients?
Making the most of a low yield investment
• Increase conversion rates of the leads generated by marketing
• Increase conversion rates of the appointments in front of you
Training your staff has much higher ROI than marketing
Marketing Telephone Training
Consultation Training
ROI 1.09 to 1 47 to 1 21 to 1
Within 3 months
Recommended