Introduction
Marketing has long been a critical component in facilitating the growth and eventual success of any business. The general idea of marketing is no different in the healthcare industry since it entails the strategic implementation of outreach and communication strategies to increase both awareness of services and client engagement with the brand. The nature of medicine to constantly evolve continues to create new market opportunities in healthcare which is likely to lead to market saturation by new entrants. Additionally, patients end up with more options to choose from, further highlighting the importance of good marketing strategies. This paper examines the factors influencing consumer behavior, requirements for successful marketing of healthcare services, marketing techniques, and strategies used by healthcare organizations.
Healthcare Consumers and Factors That Influence Consumer Behavior
A key element of an effective healthcare marketing plan is its ability to align its strategies to consumer behavior. There are various factors that affect consumer behavior, including cultural factors, social factors, and personal factors. Some of the cultural factors influencing social behavior include patient culture and subcultures. Patient culture refers to the personal reasons for their needs, wants, or behavior which varies between people and across regions. On the other hand, patient subculture refers to elements such as nationality, racial groups, or religions. Thus, patient culture, social and personal factors have an impact on consumers’ behavior.
Social factors that affect consumer behavior include reference groups and societal roles. Understanding reference groups is critical since many consumers base their decisions on people’s experiences within their social groups, such as friends or self-help groups. Social status is also a key determinant of consumer behavior since individuals are more likely to act in a manner likely to match their social status (Raorane, 2019). Personal factors such as consumers’ age, occupation, or economic status equally influence their purchasing behavior. For example, the age of individuals influences their perception of the need for certain healthcare services and how much they are willing to spend for certain services. An individual’s occupation also determines the healthcare services they can access due to affordability and certain work benefits such as insurance cover.
Requirements for A Successful Marketing
To be successful in marketing healthcare services, there are several requirements that the marketing plan must meet. One of the requirements of a successful marketing plan is a clear understanding of its target customers (Jobber & Ellis-Chadwick, 2019). The market plan should clearly understand its consumers’ geographic, demographic, and behavioral patterns to ensure resources are well utilized. Having a clear target audience also allows the audience to create the right content to maximize results. Another requirement of a successful marketing plan is to have a clear understanding of its competitors (Jobber & Ellis-Chadwick, 2019). By studying the competition, the healthcare providers can ensure that they remain proactive in their planning. This approach to planning enables the healthcare service providers to focus on creating people-centric services rather than purely imitating the service offerings of the competition.
Another strategy that healthcare companies are implementing is data and analytics to develop more personalized marketing campaigns and healthcare experiences. The Internet of Things has made the world increasingly interconnected, resulting in a bigger pool of data that healthcare companies can utilize to learn more about their customers. In addition, companies can develop their campaigns to understand what the clients want. This data can also provide personalized care for each customer, increasing the likelihood of client retention.
Marketing Techniques and Strategies
The healthcare market is becoming increasingly saturated, which means companies have to stand out to attract patients. One of the key strategies implemented by healthcare providers is the use of truth which is facilitated by intensive investment in research and development. Current research on the global expenditure on research and development indicates that 2.2% of the global GDP and 2.83% of the United States’ GDP is spent on research in healthcare (UNESCO, 2021). Through research, healthcare companies ensure that the claims they include in their campaigns are truthful and verifiable. In addition, the saturation of the physical space means more companies are moving their services online through websites and mobile applications. Search engine optimization is also a key strategy that companies use to ensure they appear among the top search results.
Another strategy that healthcare companies are implementing is data and analytics to develop more personalized marketing campaigns and healthcare experiences. The Internet of Things has made the world increasingly interconnected, resulting in a bigger pool of data that healthcare companies can utilize to learn more about their customers. Consequently, companies can develop their campaigns with a clear understanding of clients’ wants. This data can also provide personalized care for each customer, increasing the likelihood of client retention.
Conclusion
Developing a good marketing plan is critical for the success and survival of any healthcare business. Due to the large number of players in the industry, it is vital to understand the social, cultural, and personal factors that define consumer behavior. In addition, some of the critical requirements of a marketing plan are understanding the target market, studying the competition, and preparing a budget plan. These requirements are evident in healthcare companies’ strategies, highlighting their usefulness in staying attractive in a saturated and competitive industry.
References
Jobber, D., & Ellis-Chadwick, F. (2019). EBOOK: Principles and practice of marketing (9th ed.). McGraw Hill.
Raorane, G. (2019). Factors influencing buying behaviors towards healthcare services: A study in Multispeciality Hospitals in Mumbai with specific reference to cardiology department (Services). Web.
United Nations Educational, Scientific and Cultural Organization (2021). Research and development expenditure (% of GDP). Web.