Core Metrics for Measuring Marketing’s Financial Performance

SHSMD Education Webinars


SHSMD Members:
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Download the full PDF presentation and white paper

Nonmembers:
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This webcast highlights findings from the recently released SHSMD white paper “Life Beyond Promotion: Core Metrics for Measuring Marketing’s Financial Performance.” You will learn the 17 core metrics and several key actions identified by healthcare marketing and finance leaders, which you can implement to more clearly quantify marketing’s contribution to hospitals’ and health systems’ performance. Additionally, the white paper authors and webcast presenters, who are members of the SHSMD Marketing Metrics Committee, have created a framework they will share, consisting of four areas of strategic focus: growth, brand and image, stakeholder engagement, and marketing communications. Within each of these four areas, they will also identify the individual measures that were developed, such as increased revenue, market share growth, and patient satisfaction.

You will leave this webcast with a set of recommendations to help you get started in demonstrating marketing’s financial contribution to you enterprise.

After attending this webcast, you will be able to:

  • Identify the wide range of contributions that marketers make through market research, product planning, customer experience, and data analytics.
  • Understand areas of strategic focus and associated measures for which marketing contributes: growth, brand and image, stakeholder engagement, and marketing communications
  • Gain an awareness of the perspectives of marketing and financial executives in regards to what metrics they feel are most important.
  • Implement a variety of recommendations and actions steps to demonstrate marketing’s financial contributions to senior executives

Presenters:

Bill Gombeski Senior Advisor, Office of the Executive Vice President for Health Affairs, UK HealthCare
Bill currently serves as a Senior Advisor for UK HealthCare in Lexington, Kentucky. UK HealthCare is the clinical enterprise of the University of Kentucky with over 9,000 employees and 900 physicians. Bill handles special projects in the areas of business development and program development. Prior to his current role he was Strategic Director of Marketing at UK HealthCare. He has served in marketing and sales roles in a variety of organizations including Yale New Haven Health System in New Haven, Connecticut; Henry Ford Health System in metro Detroit; the Cleveland Clinic, in Cleveland, Ohio; Baylor College of Medicine in Houston, Texas; University of Texas Medical Branch in Galveston, Texas; and the Southwestern Company, Nashville, Tennessee. Bill speaks and writes regularly on the role marketing plays in helping consumers and physicians acquire the best care available. He has a Master's in Public Health from the University Of Texas School Of Health and a Master's in Business Administration from the University of Houston.

David Marlowe President, Strategic Marketing Concepts
David Marlowe is principal of Strategic Marketing Concepts and is responsible for directing engagements involving the development of strategic marketing plans, market research, marketing function assessments, medical staff marketing, new program development, pricing strategies, and healthcare delivery system marketing issues. Prior to forming Strategic Marketing Concepts, Mr. Marlowe served as vice president, strategic consulting, First Strategic Group (Whittier, CA); vice president, strategic services, Market Strategies, Inc. (Richmond, VA); vice president, planning and marketing, St. Agnes Hospital (Baltimore, MD); and director of marketing, Harbor Health System (Baltimore, MD). Mr. Marlowe has more than 33 years of healthcare marketing and planning experience as a consultant and a provider-based executive. He is a frequent author and lecturer for national and local professional organizations, such as the American College of Healthcare Executives, the Forum for Health Care Strategists, the Medical Group Management Association, and the Society for Healthcare Strategy & Market Development (SHSMD). He is the author of Healthcare Marketing Plans That Work and A Marketer’s Guide to Measuring ROI and co-author and editor of Building a Foundation for Effective Health Care Market Research. Mr. Marlowe is a past president of SHSMD and, in 2005, received the society’s Award for Individual Professional Excellence.  He has held adjunct faculty positions in marketing and strategic planning at Avila College (Kansas City), the University of Baltimore, Georgetown University, and Virginia Commonwealth University.

Arthur Sturm President, SRK
Arthur Sturm is President and CEO of SRK, a national marketing strategy firm specializing in health care. The firm is based in Chicago and began in 1980. Arthur has over thirty years of experience in advertising and marketing communications. Among the firm’s clients are some of the nation’s leading hospitals, multi hospital systems, managed care companies and pharmaceutical manufacturers. Arthur has written extensively on healthcare marketing, including serving as a columnist for HFM magazine, plus is the author of numerous articles for Medical Marketing and Media, Modern Healthcare, Hospitals, Advertising Age, and other publications. He has served on the faculty of American College of Healthcare Executives since 2001and is currently an on line columnist for HFMA. His book, “The New Rules of Healthcare Marketing” was published by Health Administration Press.