As Healthcare Advisors it is crucial to make sure that all your marketing efforts provide you the ROI you need for the year.
This is where the cost per lead (CPL) comes to play. A low CPL represents your marketing’s ability (or lack thereof) to deliver targeted, high-quality ads that drive tangible results for your business.
As an advisor, you should always look for the most optimized ways to target physicians, doctors, pharmacists, etc. This involves analyzing lots of data like what types of content get more impressions so you can identify what works and what doesn’t. Then you can improve your spending to go towards efforts you know are more likely to get results.
So, in detail, how do you decrease your CPL for better ROI?
Digital advertising platforms offer a wide variety of targeting options for businesses. To reduce wasted ad dollars, target prospects who fit your ideal customer profile or people who are in-market for your products & services.
Getting smart with your targeting and working with High-Level Marketing will ensure a better quality prospect at a good price.
Rather than targeting everyone who visits your site, group them into different audiences based on their behavior:
Basing your ad strategy on the way that people interacted with your website will allow you to bring back high-intent visitors with a higher likelihood of converting.
Plus, this strategy will help you learn more about low-intent or negative-intent visitors so you can optimize your ads and target audiences even further.
A key audience to pay attention to is the group of visitors who have already been converted from your website. Since they’re already in your nurture track, you don’t want to serve them paid ads again, but you can determine the overlapping characteristics between them and target similar audiences through Google.
Because these audiences look and behave the same, they’re more likely to convert as well. This strategy prevents you from wasting money on people who wouldn’t have converted in the first place.
Try segmenting your campaigns by network and check each campaign’s performance. If a platform like Search Partners hasn’t been performing well for a campaign, opt out of it!
Having a nice differentiator of data between platforms can be very beneficial and help you understand what platforms, based on your audience, are more profitable to invest in.
Find out what CPL campaigns are problematic and what CPL campaigns are successful, as well as what keywords are in each. Sometimes, keywords and campaigns that were successful at one point may not be now. There are a number of reasons for this:
… the list goes on.
You can use historical data to identify and pause keywords and ad groups that are no longer converting, or keywords with CPLs that are too high. This helps you to close in on where you should be focusing your spending dollars.
It’s OK if you don’t get it right the first time. The best approach to paid ads is to always have AT LEAST two ads running at the same time so you can perform A/B tests. A/B tests allow you to compare how different messaging tactics covert with your audience. If you’re only running one ad at a time, you’ll never be able to compare, analyze and learn from the results.
In keeping with the classic and proven scientific method, use one ad as the control and one as the variable. If there are too many variables, it can be difficult to draw a clear conclusion.
Make sure each ad is served an equal amount of times and rotate them indefinitely. Change only one element at a time to understand what resonates the most with your audience.
Even after you experiment to find ways to improve your ROI, B2B healthcare marketing is incredibly challenging. A more effective marketing solution for many healthcare consultants is to let high-quality leads find them organically.
Perla is a new B2B service marketplace that helps advisors with healthcare industry experience offer their services to healthcare entities and Healthcare Professionals to grow their businesses and explore new opportunities.
On the Perla marketplace, doctors, hospital administrators, and other healthcare providers can search for and match with a network of vetted, qualified consultants for the exact kind of expertise they need.
Perla generates leads that are of the highest quality in the industry: stemming only from Healthcare Professionals and specific to the services offered by the advisor.
Perla’s ROI is unmatched since consultants only pay per profile click and contact request at a lower cost compared to leads generated through other funnels.
Because Perla actively markets its platform and network of trusted advisors, potential customers find you on their own with or without any additional marketing efforts on your part.
Request a Demo today and see for yourself how Perla can give you access to healthcare organizations looking to hire businesses like yours.
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