Impressive reach. Streamlined customer experience. Increasing pressure to reduce business costs and customer churn. And a growing need to cross-sell and up-sell customers, while encouraging timely payment. No wonder that more and more healthcare facilities decide to implement a transpromo strategy these days.
Transpromo is a hybrid of transactional and promotional words, which adds highly targeted marketing messages to the statements or notices that you are already sending to your customers.
Throughout history, businesses have thrived by finding ways to attract customers with advertisement ads and other marketing materials. Though Transpromo has been around for more than 30 years, it was not used to its full potential until around 2007. That’s when a lot of data became readily accessible and companies started to shift their attention on customer relationship building rather than targeting new customers. They realized that by strengthening their relationship with current customers, they would be able to retain a steady stream of revenue and potentially increase it by allowing customers to buy more from their friendly company.
Even so, many companies are still not utilizing Transpromo for relationship building and to improve customer communication. That’s why we’ve decided to share this article to help demonstrate the value that Transpromo can bring to healthcare.
So why invest into Transpromo?
Besides the obvious that we stated right above, there are many more reasons why healthcare should at least consider implementing some parts of Transpromo into their customer communication.
Transpromo can help you turn your cost center into a revenue generator. Let’s be honest here, printing and mailing customer statements are not cheap. Some companies have moved into e-statements but there are costs associated with that too.
According to Xerox, mail is still the highly valued channel where 72% of enterprises feel that it is a critical channel versus 67% mobile and 56% apps.
Studies show, that the average consumer spends 3 to 5 minutes with a transactional communication which is much longer than compared to time spent with email.
So why not use Transpromo to help you offset those printing and mailing costs by using advertising that is focused on cross-selling and up-selling and/or content marketing that focuses on creating and strengthening the relationship with your customers.
Plus, each year USPS provides incentives to companies to encourage them to use color messaging in order to create a greater connection to and response from customers.
Another reason why investing in Transpromo isn’t a bad idea, because is it’s not too complicated. To make things easier, there are great Customer Communications Management (CCM) solutions for Healthcare on the market, which allow users from single departments (e.g. Marketing, HR, Sales and Legal) or whole companies to insert customized rule-based dynamic messages (marketing ads, notices, payment coupons, legal T&Cs) into any business documents via an intuitive and user-friendly interface.
These days most statements are typewriter text, with lines and lines of numbers, and confusing legal notices. There is really nothing warm and fuzzy about these documents. This is where professional CCM and Transpromo can make a difference. Transpromo forces users from single departments to all focus on personalization and human interaction, and our solutions allow easy access and customization.
Transpromo Ideas That customers Will Love
If the above is just a little bit too broad for you, and you’re just getting started out in transpromo marketing, or simply need some inspiration, here are 5 simple ideas that will definitely improve patient experience:
1. Billing Details
One way of personalizing a bill in a meaningful and useful way is to add billing-specific details, such as:
- Overview of how many statements have been sent to the patient and how many there will be sent in total
- Instructions for patients requesting charity care, financial assistance, or an itemized statement
- Relevant contact information personalized by patient demographic data, like last name or treatment facility
2. Promotional Messages
Another way of bringing casual transaction documents to the next level is to use the free whitespace on the statement to promote relevant services, or products to patients based on their healthcare history. Promotional messages can be updated or modified in a few minutes. Here are a few examples:
- Personalized service, or product coupons for future treatments based on customer history
- Targeted service recommendations
- Offering limited-time offers or seasonal medical services like back-to-school health check-up, season-specific vaccines and treatment services, or special screening events.
- Announcing new products or services. This type of promotions can be enhanced with barcodes, QR codes, or links which redirect patients to a spot on your website or custom landing page.
- Highlighting value-added featured on your website, like personal health records, to appointment request, to engagement apps like sharing sites or health information.
3) Latest News
As transpromo defines the section of transaction documents that can be easily changed by marketing people without the need to include IT, staff, it can be used to promote relevant events and key happenings at the healthcare facility: new physicians, key personnel, new locations, industry awards, and treatment or business breakthroughs.
4) Upcoming Events Announcement
If your facility is offering valuable, patient-focused events, transpromo is the ideal way to get the word out, increasing awareness and attendance of the key dates on your organizational calendar. Simple “save a seat” forms can help to estimate the number of event attendants.
Cross-marketing allows to target customers of one product or service with a promotion of a related product. Transpromo enables in this context to effectively match patient needs with treatment services or specific health tools, enabling relevant, data-driven cross-marketing on a far more personalized level. Targeted cross-marketing is all about highlighting relevant products and services to patients at the right time, in the right format and through the right channel.
The Key Takeaway
According to book by Jill Griffin titled “Customer Loyalty”, the probability of selling to your existing customers is 60 to 70 %, while the probability of selling to new customers is 5 to 20 %. It is important to remember that correspondence with customers is no longer Business to Business or Business to Customer, but rather Human to Human and that’s where Transpromo shines the best!
So start using your statements as a highly-visible canvas for you to advertise new products or services, to cross-sell, or to use content marketing to improve customer relationships. As you get ready to work on your messages, make sure that you consider some of the key points; be personable, try different things, and don’t forget about offers!
There you have it, folks! As you know, Transpromo presents a huge opportunity to increase revenues, educate existing customers, and help you build loyalty. So whether you are ready or have been ready to start but don’t know how, let Ecodocx help you every step of the way to turn that cost center into a profit center!