March 2019 Results from RHN
Team,
Just dropping this in for reference.
All – The commentary attached is feeling very on-target with our situation...
We need to make some hard decisions about our advertising spending for FY 20…it’s still early to fully assess the new spending that was implemented in March. But so far, the new spending levels don’t appear to be producing enough results to be sustainable. Lots of calls and clicks, but not a big enough corresponding lift in admits yet. And a very large portion of the calls are from clients with Medicaid or no insurance. Scroll to the bottom to see a recap of the disposition of the Invoca calls…of 403 calls, 60 (15%) from people with insurance, 32 insurance callers resulted in a disposition of some kind (inquiry, assessment, admit) 17 resulted in an admission.
We are continuing this analysis back to prior months to compare activity before and after our Google campaign was re-instated in late November.
We have agreement internally on the need to shift more of the budget to training and support for a quality experience to respond to inquiries – we converted 28% of the insurance callers through Invoca in March to an admission. We have a competitor who has told us their overall conversion rate is 40%. Our overall conversion rate from inquiry to admission is 21-23%, we think. So, it’s promising that the conversion of the Invoca calls was higher than our average conversion, but I wonder how many of the Invoca calls were first driven by something else (referral rec, radio ad, etc). This commentary I’ve shared would suggest that our radio strategy and Facebook is possibly even more important than expanding our Search budget…to support referral source activity and consumer awareness and trust in our brand.
We look forward to hearing your feedback and insights on our call on Tuesday. Thanks.
Just dropping this in for reference.
All – The commentary attached is feeling very on-target with our situation...
We need to make some hard decisions about our advertising spending for FY 20…it’s still early to fully assess the new spending that was implemented in March. But so far, the new spending levels don’t appear to be producing enough results to be sustainable. Lots of calls and clicks, but not a big enough corresponding lift in admits yet. And a very large portion of the calls are from clients with Medicaid or no insurance. Scroll to the bottom to see a recap of the disposition of the Invoca calls…of 403 calls, 60 (15%) from people with insurance, 32 insurance callers resulted in a disposition of some kind (inquiry, assessment, admit) 17 resulted in an admission.
We are continuing this analysis back to prior months to compare activity before and after our Google campaign was re-instated in late November.
We have agreement internally on the need to shift more of the budget to training and support for a quality experience to respond to inquiries – we converted 28% of the insurance callers through Invoca in March to an admission. We have a competitor who has told us their overall conversion rate is 40%. Our overall conversion rate from inquiry to admission is 21-23%, we think. So, it’s promising that the conversion of the Invoca calls was higher than our average conversion, but I wonder how many of the Invoca calls were first driven by something else (referral rec, radio ad, etc). This commentary I’ve shared would suggest that our radio strategy and Facebook is possibly even more important than expanding our Search budget…to support referral source activity and consumer awareness and trust in our brand.
We look forward to hearing your feedback and insights on our call on Tuesday. Thanks.
