Madison Avenue is optimistic that there can be long-term benefits from the disruptions suffered during the 2007-8 broadcast TV season. During the strike, top network executives signaled that they were highly receptive to new ways of doing business. That open-mindedness has been met eagerly by the advertising community, which is searching for new ideas but still looks at television as the best way to reach audiences to sell products.
We hear a lot these days about cutting through the clutter and the rise in consumerism, especially in healthcare marketing. Competition for market share among hospitals and other healthcare organizations has become cutthroat in some areas. And, slowly but surely, patients are paying more attention to issues of cost and quality. So what do you do when a potential patient or referring physician is being bombarded with information from your competitors? How do you stand out in the crowd?
Here's an idea: Consider what kind of marketing grabs your attention.
It's hard to market to marketers. They know all the tricks, they can tell exactly how much (or how little) work went into an effort, and they know when someone is trying to manipulate them. So if an effort makes an impression on you or generates a response, well that's worth taking a look at, right?
So what works for you?
For me, it's personalization. I was once fooled into thinking a direct mail piece was an actual personal letter because the return address was printed in a handwriting font and included a familiar name. I realized my mistake pretty quickly, mind you, but I did open the envelope and the contents did get my attention for those extra few moments. What more can a marketer ask for?
It's easy to personalize direct mail, either in the creative itself or in the call to action. There are a number of personalization tactics from the traditional personalized salutation to a call to action that incorporates a vanity or personalized URL. A Web site with my name in the URL gets my attention. If I drove by a billboard that flashed my name ("Hello, Gienna! It's time for your annual physical!"), I would pay attention--at least for a second or two. And I have a key-ring full of loyalty cards, which report the details of my purchases back to marketers, who in turn send me more personalized marketing based on my buying habits.
But here's the problem with such tactics. I know that I'm being manipulated. So the effects of personalization don't really last very long. Still, those who are marketing to me are probably happy with that extra second or two of eyeball time.
But it might not be enough for healthcare marketers.
Patients should be responding to your marketing because it comes from a trusted source and because they know it will contain important, pertinent, useful information. In fact, the American Medical Association makes the case for proceeding with caution when it comes to one-to-one healthcare marketing.
That's not to say personalization doesn't work in healthcare marketing--just that it has to be done in the right way. In real life, a billboard flashing personal health information probably isn't a good idea. But an invitation to go to a personalized URL and take a health quiz? That's more likely to get me to take action.
So, what about you? What kind of marketing grabs your attention? When was the last time you responded to a call to action? Are you drawn to unusual envelopes? Glossy stock so pretty you hate to throw it away? Coupons that you might-maybe-possibly one day redeem? Or do you respond to messages that really ring true and offer you real value?
And how can you apply that information to your work as a healthcare marketer?
I'd love to hear what you think: Please share your answer by e-mailing me or clicking on the link at the end of this column to leave a comment on the site.
HCPro, Inc., parent company of HealthLeaders Media, announced today that Halyard Capital, a New York-based private equity firm, has closed on its acquisition of the company from The Riverside Company. Terms of the transaction were not disclosed.
HCPro is the nation's leading provider of integrated informational, educational, training and advisory products and services in the vital areas of healthcare compliance, regulation and management. The company meets the specialized needs of healthcare managers through a wide range of delivery platforms including print and electronic newsletters, e-mail services, magazines, books, online databases, software, broadcast events, seminars, conferences, classroom training, consulting and videos.
"HCPro is a trusted source for mission-critical compliance, regulatory and management content in the healthcare industry," said Robert B. Nolan Jr., managing partner at Halyard Capital. "By combining our industry knowledge with the company's talented management team and diverse portfolio of products and services we look forward to continuing the robust growth of HCPro's leading market position."
Michael Furey, a principal at Halyard, added: "HCPro is an indispensable information source and content delivery vehicle for healthcare managers."
"We are delighted that Halyard is our equity partner and are excited about the opportunity to work closely with them to build on HCPro's significant momentum," said Bruce Guzowski, president and chief executive officer of HCPro. Guzowski added that "There will be absolutely no changes to HCPro's operations as a result of this transaction. Current management continues to be a major investor in the Company's equity with 19 members of the company's management team investing alongside Halyard."
HCPro has completed 20 add-on acquisitions since 2003. "With the support of Halyard, we are well positioned to realize on our long-standing strategy of both organic and acquired growth," added Guzowski.
Halyard Capital received legal counsel from Edwards Angell Palmer & Dodge LLP. GE Capital, Newstar Financial and CapitalSource provided financing for the transaction. Riverside was advised in the transaction by Berkery Noyes Capital Markets.
About Halyard Capital Halyard Capital is a New York-based private equity firm with over $600 million of capital under management, focused on investing opportunities within the media, communications and business services industries. Halyard specializes in middle-market leveraged buyouts and growth equity investments. The firm has extensive experience and a proven track record within each of these sectors with investments including ImpreMedia, EducationDynamics, WMI, Engauge and Presidio Networks.
Halyard invests in and works closely with exceptional management teams in companies with defensible market positions and franchise characteristics which generate strong cash flows and operate in attractive growth markets. The firm's investment funds will commit up to $40 million to individual portfolio companies with a focus on investments of between $15 million and $40 million. Halyard has the ability to complete larger transactions utilizing its network of investment partners. Additional information regarding Halyard's strategy, principals and investments can be found at www.halyard.com.
About HCPro HCPro is the largest provider of information, educational, and advisory products and services in the vital areas of compliance, regulation, and management to the U.S. Healthcare Industry. The company delivers its mission-critical content in a wide variety of complementary, integrated formats, including print and electronic newsletters, e-mail services, magazines, books, online products, software, broadcast events, seminars, conferences, classroom training, consulting, membership programs and videos to meet the specialized needs of healthcare managers. The Company's leading brands, HCPro, HealthLeaders Media, and The Greeley Company, are well-known and highly respected by healthcare managers.
After a stern order from the judge, Alex Zakharia, a 70-year-old South Miami heart surgeon, changed has promised to surrender his medical license as he originally agreed. In 2006, Zakharia was charged with fraud and perjury because of allegations that he exaggerated his credentials while testifying in a Michigan malpractice case. He agreed to retire by Dec. 31, 2007, but as of February 2008 he was still practicing.
Older men with early-stage prostate cancer are not taking a big risk if they keep an eye on the disease instead of treating it right away, according to a study. Otis Brawley, chief medical officer of the American Cancer Society, said the findings were important because it may persuade some doctors that they are overtreating this disease.
The federal government has cited Harbor-UCLA Medical Center for placing its emergency patients in "immediate jeopardy" because of overcrowding and long waits. The citation comes just six months after Los Angeles County closed all but the outpatient clinics and urgent care center at Martin Luther King Jr.-Harbor Hospital. Harbor-UCLA saw 82,300 emergency patients in the last year, and the average wait was 12.2 hours. Approximately 16 percent of the ER patients left without being seen.