Medical tourism is rapidly flourishing business and it is important for companies to develop a proper medical tourism marketing budget for developing better marketing strategies.
It has been observed that while few of the CEOs of hospital groups were perfect marketing professional others doubted about the entire process since they were unable to understand the kinetics of the planning, implementation and tracking of international health care marketing system. This article deals with the understanding of the entire marketing process to make it easier to plan and execute a successful healthcare marketing campaign.
The most important step for a proper marketing campaign is to make the customers aware and educated about the importance and need of travelling to other country for better and affordable as well as quality medical care. In any case, it is not an easy task to design a marketing budget for a new medical tourism enterprise since you have to decide your revenue from the project first and then the marketing based on this revenue.
It is necessary for hospitals and medical center that are a fresh enterprise to spent at least 20 percent of their target revenues to fund the marketing programs for the first two years of marketing development. During the first three years that are very crucial for any organization unfunded marketing becomes the major cause of poor business. Things that should be kept in mind before arriving at any budget are the understanding of the market maturity, the recognition of the company within the country and the planning for the rapid growth of the company. Experience plays a crucial role in deciding successful marketing budgets.
After you pass this stage of planning, it is essential that you know some terms related to marketing. These are –
Marketing Qualified Level (MQL):
A prospective patient shows interest in your company. It is essential to qualify them before moving further along the sales development chain.
Sales Accepted Lead (SAL):
A lead earlier accepted by the company. It should be given some time before being accepted as a sale.
Sales Qualified Lead (SQL):
Lead that has a strong possibility of closing; these have highest possibilities to get converted into a sale.
WIN:
When the lead becomes a patient.
For a more successful marketing program its better if you know your closing numbers and also the dynamics of your lead development process to plan your revenue goals.
Last but not the least is the final step of arriving at the budget developing step where you require the help of an experienced media marketing company that is fully aware of the marketing strategy and media options to generate maximum enquiries on the minimum amount of time.
Summary:
Proper planning is the stepping-stone for the successful marketing. A complete marketing program includes planning, development, creativity, media marketing, external communications and monitoring, and tracking of marketing efforts. It is very important to go with an experienced marketing agency that has complete knowledge and of critical international healthcare marketing experience for an effective healthcare marketing.
