Business Intelligence is Key for Hospitals

More and more marketing and public relations departments at hospitals and healthcare systems are under increasing pressure to show the value of their return. Budgets are tight.  The first places that get scrutiny are the marketing & PR budgets.  As the experts, Strategic Intellavance, sees this trend playing out in both very large and very small markets.

Here’s an example of the advertising spending by key hospitals and healthcare systems in the Nashville, TN market.

Now, if you are in one of these professions, we are not telling you anything new! So, how can you show the value of your return?  Showing your value will help maintain or increase the current level of your advertising budget and public relations staff.  The best way to show this is through business intelligence. Business intelligence is an under utilized tool, that will provide you with the measurable benchmarks that you need to value your return on marketing and public relations.
Business intelligence will show you how your local ad spending compares to your key competitors. With deeper insights into competitive SERVICE LINES, you can show how you compare on advertising spend, as well, as competitor’s affiliations, latest technologies, and  state-of-the-art care.

Business intelligence will help you become a bigger and better advertiser. Business intelligence can help show the opportunities: service line, media, and offer.  The goal of business intelligence is not to spend more money on your marketing budget. The goal of business intelligence is to take the money you already spend and make it more effective. Focusing your ad dollars to maximize your return. Business intelligence can also show your President that there is a reason why your competitor comes up stronger, with increased advertising reach and frequencies.

The same can be applied to the public relations. Once you measure the value of your PR or ROI efforts, you can benchmark against your key competitors and, through business intelligence, can see where your strengths and opportunities lie.