Key Components of Nurse Practitioner Marketing
When it comes to nurse practitioner marketing, the skills you need and the strategy you employ aren’t that much different than most other types of functional medicine. Most successful businesses are built in a similar way.
Suppose you want to build a successful nurse practitioner practice or functional medicine clinic that brings in revenue. In that case, you should consider the following points and ensure they’re all happening in tandem.
What type of product(s) or services do you want to sell?
What exactly do you have on offer, and how is this different from your competition?
Your nurse practitioner marketing activities must be centered around one or more specialized services and products.
Centering your practice around a targeted niche such as hormonal health will help your marketing simply because it will stand out as something unique.
- Before any formal marketing happens, you can:
- Choose a specialty
- Get specialized training
- Talk about your “why”
- Use “word of mouth” marketing
- Share accurate information about your service(s)
When you are passionate about what you do and talk about it openly, you have the opportunity to both educate people and gain their trust that what you are doing is special and important.
This will essentially build the foundation of your marketing and branding strategy.
How are you selling that product or service?
Nurse practitioner marketing isn’t that different from other marketing types: you must generate interest and awareness before you try to make a sale.
But if the idea of marketing scares you—take a breath!
If you are passionate about what you do, how you sell, it shouldn’t feel like selling. Instead, consider discussions with possible customers as simple conversations.
Otherwise, of course, there are some specific things you can do to help you get a leg up where marketing is concerned, including:
- Market research to help target your marketing to a certain demographic
- Differentiating your products and services through a strong brand presence
- Establishing a strong, secure website and social media presence
- Creating clever, intriguing ads and other marketing material
When it comes to growing your functional medicine practice, don’t underestimate the importance of being involved in your marketing activities every step of the way.
Of course, you shouldn’t do everything yourself! Consult with a digital agency or marketing professional and let them take the lead—you’ll thank yourself later!
How will you handle your finances?
Are you confident that you can handle the accounting for your business? I hope you say “no,” because even if you know how to manage finances, it’s always a good idea to have someone handling your business accounts.
Nurse practitioner marketing is no different than any other business: you must hire help to keep your finances under control and account for taxes properly.
You may choose just to have a trusted accountant to do your annual taxes. Still, it’s also wise to have a financial manager on board if you make bigger leaps such as taking out substantial business loans, developing key partnerships, or scaling up.
Having a trusted financial professional onboard can help you with day-to-day operations and control.
They can help keep you organized and guide you on revenue streams, investments, budget projections, and more.
There are apps to help you with small business accounting, but these only do the basics. Hiring a well-respected CPA could be a part of building a strong foundation for your business.
Don’t mistake trying to do your taxes yourself and then missing some important details to do with tax and restoration.
How much should you spend on marketing?
Successful marketing depends on the owner—you don’t need to know how to do everything yourself—it can be a great investment to hire a consultant or agency.
But you should absolutely be on top of how you’re spending your marketing budget.
Key costs to consider for nurse practitioner marketing include:
- Ad spend (print and TV)
- Digital marketing costs
- Patient acquisition costs
- Customer lifetime value
- Marketing management costs
When calculating your marketing costs in terms of patient acquisition costs, be sure to consider customer lifetime value as well. Comprehensive health packages, for example, can bring in much more revenue when you make a sale.
If your clinic offers different functional health services, being strategic about packaging and prices is one of the best things you can do.
Fortunately, today you will likely not be as bound by ad costs as businesses would have been some 30 years ago since digital marketing offers much more budget flexibility than traditional TV and print ads.
However, this doesn’t mean that you should cut your marketing budget altogether! A well-established marketing agency will probably cost a pretty penny, but it is something that you won’t regret.
Other than offering exceptional care to your patients, nothing is more important to your business than a well-thought-out strategy and plan.
Get (and stay) involved with your nurse practitioner marketing activities! Participate, start it early, do it well, get the right help, and you will reap the benefits over time.
Another thing to note is that your marketing costs should be higher during the startup phase of your business. After that, you will likely see the budget drop, but you’ll still need to have an ongoing budget for it.
What other type(s) of support do you need?
Along with a trusted accountant, you’ll want to establish a small support team early on. This will probably include an IT person, an administrative professional, and maybe even a marketing consultant.
Whether you are looking for additional training in specialty services like BHRT, or you want more information about how to build a successful practice, we can help.