Response Marketing Group, Richmond, Virginia , has recently launched a focused Healthcare effort to address the exploding use of data within the healthcare sector. RMG has been celebrating their 30-year anniversary in 2016 as an industry leader in data-driven marketing and advertising, and sees a tremendous opportunity to bring their vast experience in analytical marketing to health systems. Original Founder and agency Principal Stuart Holt believes that some of the basic elements of success in marketing have not changed. “Since our inception in 1986, knowledge has always been critical and those companies that embrace and deploy data insights are consistently winners.” According to a recent Gartner survey, interest in big data technologies and services is at a record high, with 73% of the organizations surveyed investing or planning to invest in them. But most organizations are still in the very early stages of adoption while only 13% of those they surveyed had actually deployed these solutions. According to a study conducted by CDW Healthcare with O’Keefe & Company, the top motivational factors driving analytics are: the rising cost of healthcare (59%), Medicare/Medicaid EHR incentive programs (44%) and accountable care (41%). Systems like Cleveland Clinic and Mayo Clinic are heavily investing in data technology and applications to respond to the evolving marketplace.
RMG principal, President and CEO, Jim Harenchar, spent 2 years working closely with Bon Secours Health System and came away with several keen observations. “Health Systems are finally starting to recognize and embrace the fact they maintain significant data assets that can be monetized to drive service line volumes, better focus marketing messaging and engage their target audiences with relevant communication.” With industry consultants predicting continued consolidation and nearly one-third of hospitals being acquired or out of business by 2020, Harenchar believes Health Systems are waking up to the reality of leveraging data as a revenue driver. “We all agree the healthcare space is going through transformational change as it relates to directed communications and consumer oriented messaging. We believe we’ve only begun to see how data will shape consumer advertising in the healthcare vertical. While Population Health and Managed Care are hot button issues, hospitals are recognizing the value of leveraging seminars, events, sponsorships, demographics, psychographics, EHR and other data sources to enrich the picture of their patients and their markets.”
According to Forrester Research’s recent State Of Customer Analytics 2016 report, companies are investing in more data sources that provide deeper insights. In 2014, the average company used only four data sources for analysis and measurement. Today, companies are using six data sources on average, an increase of 50%. In addition to traditional sources, such as demographic, transactional, and behavioral data, which are some of the top data sources in use, many companies are leveraging digital data from their owned web and mobile properties, unstructured data from social media (35%) and internal feedback channels (27%).
RMG has remained consistent in their belief in using data as a critical influencer and predictor of customer behavior. It is an integral part of the marketing mix to better inform creative, messaging and channel preference in delivering multichannel campaigns for their clients. As Skip Hubbard , SVP of Business Intelligence of Bon Secours stated at a healthcare conference recently, “One data point or a set of data doesn’t give us the full picture. To improve the way we care for patients we need our data analytics to make connections that translate into actionable intelligence.”
Response Marketing Group, headquartered in Richmond, VA is a privately-held marketing agency providing data-driven advertising solutions to select industries. Services include design, development, analytics, measurement and management of multichannel marketing campaigns. The firm can be reached at www.rmg-usa.com. Contact Jim Harenchar, President & CEO at 804-370-1439 or email@example.com.