Posted: March 9, 2017
Healthcare Marketing’s “Show Me the Money” Moment
Surely you remember the scene from the late 1990’s classic, Jerry Maguire. Sports Agent Jerry (Tom Cruise) is scrambling to keep his clients after he breaks from his big agency to go out on his own. Trapped on a call with football player Rod Tidwell (Cuba Gooding Jr.), Jerry becomes more and more desperate. Rod just wants assurances that he’ll get the personal attention Jerry has been promising and a new contract in his home state. The scene ends with Rod gleefully entreating Jerry to chant “Show me the money!” over the phone, increasingly louder and louder, until he finally gives in and agrees to still be his client. Aside from just being funny, this scene is really telling about what motivates people. At the end of the day, Rod wants to make sure that his priorities for job security and money are the same as Jerry’s.
This is really true of most people. Sure, the bottom line isn’t what gives you passion to do your job well, but ensuring you have job and financial security is part of the foundation for why most of us work. For business leaders, especially in healthcare with all its payment models and complexity, financial stability and budget are always top of mind for this very reason.
As a healthcare marketer, when you plan to invest in new technology or services to help you achieve your awareness, engagement, acquisition, and loyalty goals, you need to keep that executive mindset at the forefront as you build your business case. Thinking like an executive keeps you on the same page and helps you build an argument for your investment that is more likely to get approved. If you can answer executive concerns and prove how a technology solution can save money or is structured to help you bring in more financial return, finding room in the budget is that much easier.
Of course, each platform or solution-type you’re looking at will have its own unique justifications for its worth. A CRM has a different value proposition than marketing automation, for example. But, in general, there are a few simple arguments you can make for you next healthcare technology purchase that will really speak to the C-suite outlook.
How to Sell Executives On Your Mission
1. Think about avoiding wasted money. Maybe the solution you’re interested in makes you more efficient or shows you places where you could be spending your money in different ways for better results. Multi-channel campaign management tools are a great example of this.
2. Think about partnerships. When you invest in a new technology, is service part of the agreement or does the solution stand alone to ease the burden on your team? Using technology and services to help your team get more done is a great way to save budget. Directory Listings solutions can offer that aid from service partnerships and Reputation Management solutions give you the benefit of both technology and services.
3. Think about gaining a leg up on the competition. If your current marketing methods are outdated, how well can you compete with the health system down the street. Tell your C-suite how a new solution will not only make your team smart, allow you to show a return on investment, and engage more patients before your competitor does. Newer CRM solutions, with real-time capabilities, are perfect for this.
4. Think about doing your research. If you can show you did the legwork on a solution’s unique value and benefits, especially if your research shows how a tool can help you follow best practices, save money elsewhere, or even future-proof your investment, you’re golden. Next level CMS platforms, designed with the healthcare consumer in mind, are ideal for this type of argument. And if the CMS is cloud-based and don’t have to be replaced year-over-year, you’ve got an even more persuasive case.
Want more tips on getting the marketing technology partnership you want or tools to make your team more efficient? Download our free Digital Marketing Toolkit.