There's a company called Home Care Pulse that performs an annual benchmark study of non-medical home care agencies. Some of those results were attended in a webinar that I attended with Steve "the Hurricane" from Hurricane Marketing Enterprises. We've shared several stories based on this webinar including the following:
The 1 Thing You Need to Do to Increase Home Care Leads and Referrals, and
Home Care Agencies That Track Their Referrals Earn 20% More Than Those Who Don't
Today's post can be considered a sequel to the "1 Thing You Need to Do..." story listed above.
Here's the data:
As you can see, agencies with a marketing representative are averaging $1.97M in revenue, whereas those who don't are earning 1.29M in revenue.
What Would the Marketing Rep Do?
Steve has a relatively simple equation that says you want to make one marketing touch point for every hour in the week - 40 touches a week, with a focus on the power partners who can refer to you (like CCRCs, Hospice, Home Care, etc.). Steve points out that your marketing rep (or you if your primary job as owner is to do marketing) shouldn't drive to 40 different locations to meet people, but instead when you go to a facility like assisted living, that you should talk to 3 or 4 people there for a couple of minutes each.
How Much Would a Marketing Rep Cost?
Steve shared in the webinar, that on average a marketing rep is paid $50K per year. The math, therefore is pretty compelling (adding $50K in cost can reap $700K in return), but Steve also noted that it takes time to establish relationships and that it will take some time before adding a marketing rep will deliver a positive return.
For More Information
Be sure to check out Hurricane Marketing and Home Care Pulse. Also, if you enjoyed this article, consider subscribing to the Ankota blog. To learn a bit more about Ankota, please enjoy our 30 second welcome video (below) or to contact Ankota if you'd like more information or a demo.
Ankota's latest care transitions whitepaper, entitled "Selling Care Transition Services to Hospitals" is now available. Please download click the link or the picture blow for tips on how to construct optimal care transitions offerings and sell them to hospital partners in your geographies. If you're interested in scheduling an online demo of our home care or care transitions software solutions, just click this button:
If you'd like to schedule an online demo of our home care or care transitions software solutions, just click this button:
Ankota provides software to improve the delivery of care outside the hospital, focusing on efficiency and care coordination. Ankota's primary focus is on Care Transitions for Readmission avoidance and on management of Private Duty non-medical home care. To learn more, please visit www.ankota.com or contact us.
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