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Marketing a Medicare Business
Promotional tactics for medicare businesses are exceptionally diverse. But in our experience, there are a handful of tips and strategies that will deliver the best return for your marketing efforts.
We recognize that the best medicare business owners tend to possess solid marketing skills. Yet in this industry, the characteristics of able marketers aren't always obvious.
Staying on track requires attention to detail and a commitment to foundational marketing principles.
Sponsorships
Event and team sponsorships are a proven method for raising the public profile of medicare businesses. Successful sponsorships create connections with customers; ineffective ones alienate customers and drain your marketing budget. A strategic sponsorship targets actual medicare business patrons. To minimize costs and multiply outcomes, consider teaming up with a complementary business to co-sponsor targeted events.
Media Monitoring
Some marketing initiatives lend themselves to simple measurement while others are more challenging. Direct mail can be evaluated by tallying the cost of inputs (e.g. a premium mailing list, printing, postage, etc.) and measuring the number of customer responses you receive from the campaign. The difficulty comes when you are tasked with quantifying market presence and brand influence. With the help of marketing professionals, media monitoring can provide up-to-date assessments of the amount of influence your medicare business has in the public sphere. Even more importantly, media monitoring can alert you to negative commentary early, giving you the opportunity to counter negative mentions with more accurate and more positive messaging.
Hiring A Marketing Firm
Sooner or later, most medicare business leaders recognize their limitations and hire a marketing firm. Professional marketers are usually on the bleeding edge of the industry and boast better returns for the investment than internal marketing units. Does a marketing firm cost money? Sure, but not as much as you may think. When it's time to look for a marketing firm to represent your medicare business, the first thing to look for is marketing experience. Marketing firms that lack industry experience are sometimes unfamiliar with competitive marketing channels and may not understand the value propositions that dominate industry messaging.
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