The Growing Imperative for Digital Marketing
Each generation has unique needs, habits, and methods for researching health information, booking appointments, and ultimately finding physicians. That’s what we discovered in our research and described in a recent report, Patient Insights Unveiled: Exploring patient care shopping habits and the impact of social media, thought leadership, and advertising.
For instance, Gen Z and Millennials, accustomed to online platforms for all their needs, including scheduling activities, expect healthcare services to offer intuitive online portals or websites for appointment bookings. However, Baby Boomers, despite the increasing digitization of services, still prefer human assistance for tasks like setting appointments.
In an increasingly connected world, understanding patient behavior and leveraging digital marketing strategies have become pivotal for healthcare practices to thrive and effectively engage with their target audience. That’s why healthcare marketers may benefit from a recent report that offers new insights and underscores the growing imperative for digital marketing.
2024 Consumer Insights Study
In July, Ficomm Partners released its 2024 Consumer Insights Study—Digital Marketing in Wealth Management — which revealed that while referrals may still work for older generations, younger prospects are more responsive to digital marketing efforts. Although this study focused on consumers seeking financial advisors, we know from our research that consumer expectations and behaviors often cross industries.
In its announcement about study results, Ficomm Partners described the shifting landscape regarding referrals: “In the next 5-10 years, referrals will matter far less to financial advice prospects than effective digital marketing…”
It noted that among the 1,100 financial advice buyers surveyed, age made a big difference regarding the need for a referral:
- Over 60 years of age: 60% would “only hire an advisor based on a referral”
- Nearing retirement age: 29% required a referral
- Under 44 years of age: 17% wanted a referral
“Instead of relying on referrals, 45% of respondents nearing retirement and 57% of respondents under 44 hired financial advisors based on digital marketing,” Ficomm Partners said, noting that this shift for buyers under 60 years of age indicates that the “effectiveness of referrals as a lone strategy for organic growth will plummet.”
“The survey results align with what we have heard anecdotally,” said Meg Carpenter, CEO of Ficomm Partners. “As these cohorts age, their habits won’t change. They’re used to researching and making purchases digitally and tend to rely on social proof such as online reviews and clearly defined digital brands.”
And in terms of digital marketing, the survey indicated that:
- Of the “effective marketing tactics,” 64% were digital, with no single tactic outshining the others.
- A multichannel approach proved to be most effective, since it generates the number of touchpoints needed to support moving prospects into the sales funnel.
- A “minimum of 2 digital interactions were required before the consumer took action—with the ideal number of interactions being 5+.”
“The question isn’t ‘Is your firm engaging in digital marketing?’” said Mary Kate Gulick, CMO at Ficomm Partners. “It’s ‘Do you have an integrated, multi-channel digital marketing strategy?’ And if the answer is no, it will be challenging to meet your organic growth goals in the coming years.”
At Advance Healthcare Marketing, we specialize in partnering with healthcare organizations to craft bespoke marketing plans tailored to their unique needs and objectives. Our dedicated team is committed to developing compelling creative solutions and messaging that resonates with your target audience. Moreover, our proven track record underscores our ability to deliver tangible, measurable results, ensuring that your marketing endeavors yield the desired outcomes. Contact us today to get us started on your personalized strategy.
