Increasing Marketing ROI with a better caller experience

By: Cassie Marini, Account Marketing Specialist at Phonak US

Earlier this year, we launched our E.D.G.E. Front Office Training Program and we’ve been thrilled by the feedback we’ve been receiving.

The E.D.G.E. Front Office Training Program was designed to help hearing healthcare providers and office staff learn new skills to:

• Engage and educate patients more effectively
• Streamline day-to-day activities to allow for more customer-centric service
• Improve office efficiency to deliver a more consistent office experience
• Increase marketing ROI (unexpected bonus!)

How does front-office training increase marketing ROI?

Industry benchmark studies show that approximately 70% of calls generated by a marketing campaign turn into an appointment and 50% of these appointments turn into sales.
The Phonak campaign tracking data shows that a lot of practice’s call-to-appointment conversion rates are lower than that. In fact, our call tracking data shows that roughly 30% of the calls generated by marketing campaigns are being scored as missed opportunities. A missed opportunity is a caller who expressed interest in scheduling an appointment but was not scheduled during the call.

Let’s use the benchmark study statistics to take a look at what this means in terms of marketing response. Below is an example using average response rates for a 5,000 piece mailing with a cost of $2,800.

Calls	% of callers scheduling an appointment	Appointments	Potential Units	Potential Revenue Generated	ROI
18	70%	12	12	$14,735*	426%

_{*For revenue, a $2,100 average selling price was used}

So in this example, callers who schedule an appointment could generate up to $14,735 in revenue, which is a 426% ROI. Not bad for a $2,800 marketing investment!

Now imagine your front office team increased their call-to-appointment conversion to 80%. This translates to potentially generating revenue of $16,840 for the same $2,800 marketing investment and increasing your ROI to 501%.

Calls	% of callers scheduling an appointment	Appointments	Potential Units	Potential Revenue Generated	ROI
18	80%	14	14	$16,840*	501%

_{*For revenue, a $2,100 average selling price was used}

Improving caller conversion by even one appointment results in a greater ROI. How many marketing campaigns do you conduct each year? What would one additional appointment per marketing campaign do for your practice?

Reach out to your Phonak representative to learn more about this exclusive offering.