Unlocking patient acquisition: The essential role of market research in healthcare

Patient acquisition and growth is a key priority for most organizations today. But the landscape has never been more complex or challenging. Consumers have more options than ever, less loyalty, and higher expectations for the healthcare experience, leaving many healthcare marketing experts struggling to reduce friction in the patient journey and gain control of their brand narrative. Amid ever evolving consumer preferences and needs, how do you stand out and win them over?

Effective patient acquisition starts by understanding how consumers perceive your organization-or if they're even aware of your brand. What are its strengths? Opportunities? And how does it stack up against competitors?

Healthcare organizations can take a page out of consumer industries' playbook and use robust market research to unlock insights into their audience. AI-driven solutions like Press Ganey's Market Navigator give forward-looking organizations a competitive edge by helping them understand what motivates patients to choose them-then keeps them coming back.

Key components of an effective market research strategy

To effectively harness market research for patient acquisition, your strategy should include several key elements.

• A consumer-inclusive approach: While most healthcare organizations see the value of-and are already collecting-PX data, it's important to think of the consumer experience as an early stage of their journey. Early interactions with your brand significantly impact the overall experience. By focusing on both, you can enhance patient satisfaction and loyalty.
• Competitive benchmarking: Compare your organization against key competitors to identify strengths and weaknesses, set realistic goals, and make more informed decisions about marketing, pricing, and other strategic initiatives. Understanding your brand's standing, more generally, in the market is important, but there's value in diving deeper into the data. You might find that specific service lines are seen more or less favorably within your community.
• Ongoing tracking: Market dynamics are constantly evolving. Stay relevant and make sure your strategies remain effective over time by continuously monitoring consumer perceptions, trends, and market conditions.
• Comprehensive metrics: Measure brand equity, patient experience, and marketing in your research to see a more complete picture of your position in the market and where you can improve.
• Robust data reach: Our data collection lets you explore connections and uncover hidden insights. With our vast dataset, you can analyze data from multiple angles, slice and dice it to find meaningful correlations, and gain a comprehensive view of your audience and the market.
• Qualitative and quantitative data: Hard numbers give you measurable insights into market trends and consumer behaviors, while qualitative data provides rich insights into the why behind consumer behaviors. Together, you get a more nuanced view of your audience, as well as your brand's strengths and weaknesses, so you can make more informed strategic decisions.

Turning insights into action

Market research provides valuable insights into brand awareness and patient perceptions. Once you've gathered and analyzed your market research data, it's time to act on those insights. Chief marketing officers and other healthcare leaders should focus on areas where you can improve.

One way to improve your organization's market perception is to leverage your digital presence to communicate your brand's strengths, and address gaps or misconceptions identified during the process. Make sure listings are accurate and thorough everywhere people look for care, like Google, Healthgrades, WebMD, and even your own website. Lean into patient reviews, letting them tell your story-and sing your praises. A friction-free research and scheduling process improves new patient acquisition, while the entire patient journey, from research to follow-up, drives loyalty and referrals.

6 questions to ask about your hospital system's digital presence and awareness for key specialties

1. Is your health system's unique value proposition clear and prominently featured on your website?
2. Are there specific areas where your digital content can better address the needs and concerns of healthcare consumers?
3. Are you effectively leveraging SEO and digital marketing tactics to drive traffic for key specialties to your site?
4. Is your website user-friendly and optimized for mobile devices?
5. Do you regularly publish patient reviews and testimonials covering the full spectrum of offered specialties to keep your online content fresh and engaging?
6. How does your organization's online reputation (and star ratings) compare to competitors?

Once you know how to answer these questions, you can fine-tune your digital strategy to better align with consumer expectations and strengthen your market position generally and for key specialties.

Comprehensive market research is essential for making informed decisions and optimizing marketing efforts. With Press Ganey's Market Navigator, you have the tools to unlock and transform key insights into actionable strategies, positioning your organization for long-term success.

Get in touch with a healthcare consumer experience expert to learn more about Market Navigator and start making data-driven decisions today.

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