Creating a queue for aged care services How to build the ... · Reputation (advocacy, research,...
Transcript of Creating a queue for aged care services How to build the ... · Reputation (advocacy, research,...
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Creating a queue
for aged care services
OR
How to build the future
customer pipeline
HFMA Finance in Aged Care Conference
September 21, 2017
Nicola Reynolds, General Manager - Customer Innovation and Marketing
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The Burning Platform…..
The game has changed for the sector….
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The Old Paradigm
Government
Peak bodies/ industry
Referrers –professional and allied
health
Providers
Advocacy, PR/Coms,
Government Relations
Business to business
relationship marketing,
events, brochures etc.
Funding Flow -
down from on
high
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The New Paradigm
Demand generation
brand advertising to
create awareness:
mass advertising,
digital, PR etc.
Lead generation
‘call to action’
advertising –
‘choose us’
Relationship
marketing:
advocacy, events,
sales etc
Prospect pool – 1.7M Victorians
865k potential end-user clients
10k referrers –i.e. allied health
professionals
? 500 Providers
Consumer
determines
which providers
will get Govt.
funds/direct $$
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‘Creating a queue’ is no longer
relevant.
The new game to grow…..
Building the future customer
pipeline
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From around 10,000 ‘invested’ audience:
To around 1,700,000 busy, disengaged,
confused potential audience who don’t
care about us…
(until they need to care about us)
The new game is about ‘eyeballs’,
volume and reach
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The acquisition challenge:
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• Characteristics of the aged-care buying cycle
• Customer churn impacts – standing still is not an option
• Budget, resource, expertise impacts
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“The new battleground for marketing-led growth” – excerpt from international study of 125,000 consumers across 350 brands
• Consumer buying patterns have changed – largely due to
digital environment
• Consumers twice as likely to choose a brand if targeted in
early awareness stage
• A direct correlation early awareness and market share =
sustainability and growth
• This means reaching a much broader market much earlier =
new investment required
• Being early ‘in mind’ is only the first
step in engagement with consumer
(Source: McKinsey Quarterly, February 2017)
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Benetas’ response:The Future Customer Engagement and Conversion Funnel: Objective: To cultivate, find, attract, convert and keep the future customer
Genera
l com
munit
y:
Beneta
s su
pport
s an a
gein
g f
riendly
socie
ty
10,000 people
(estimated)Industry Referrers,
Government,
Employees
1.7M people
(estimated)Family Decision Makers
Potential Clients
Future CustomerProspective CustomerNew
Customer Current CustomerPast
Customer
Awareness Consideration Preference Action Retention Recommendation
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And we have to ‘stay on their radar’ in a ‘broken’ customer journeyG
enera
l com
munit
y:
Beneta
s su
pport
s an a
gein
g f
riendly
socie
ty
Future
CustomerProspective
Customer
New
Customer
Current
Customer
Past
Customer
Awareness Consideration Preference Action Retention Recommendation
My A
ged C
are
Port
al Regis
trati
on
Future customer
is directed to
My Aged Care
Portal
Service ‘call to action’ advertisingBrand awareness advertising
Key break
in
customer
journey
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Work back from annual client targets to estimate conversion
rates at each point of the customer journey
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Residential
Home Care
Retirement Living
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1 Market Sizing Benetas is relevant to me Find
2 Market Insights Benetas understands me Find
3 Brand Strategy Benetas is distinct from other service providers Attract
4 Brand awareness advertising I know about and like Benetas Attract
5Call to Action/ Sales
CampaignsBenetas has the service I need Convert /Keep
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Customer Channel
Infrastructure: Web/Customer
Centre
Benetas is easy to deal with across all touch points Convert/ Keep
7Reputation (advocacy,
research, social dividend)Benetas has a great reputation, they advocate for older people Cultivate
8 Internal brand Benetas is a great place to work Attract/Convert
Building the pipeline requires a number of integrated projects:
Eight Steps of the Future Customer Strategy
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And how this translates into growth (Source: ‘Mastering three strategies of organic growth’ McKinsey, 2017)
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c
c
c
c
c
c
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The change from:
Estimated 10,000 audience
(Government, referrer and peak body market)
Assume marketing budget of $500k
= average $50 per audience reach
To:
Estimated 1.7million Victorians (potential aged care service
decision-makers and users) while continuing to target 10,000
Government/referrer audience
Assume marketing budget of $500k
= average 0.30c per audience reach
Just one example of what this means….
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What it takes to grow in the
new environment
IT Investment (Gartner Report):
1-2% of revenue to maintain BAU
3-5% of revenue to Build
5-11% of revenue to Grow
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Marketing investment (E&Y
‘Getting market ready’ review):
1-2% of revenue to maintain BAU
3-5% of revenue to Build
5-11% of revenue to Grow
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Let’s recap:
What this means for
your organisation:
• Need to set context for growth
• Don’t get sucked in by ‘our industry is unique’.
It’s all about the consumer.
• Normalise the change while reiterating that it’s a very
long game
• Then create a strategy which systematically addresses the
change
• Watch out for the latest quick fix panacea
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Building the pipeline for the future:
Some things I’ve learnt along the way
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• Stakeholders will not understand the seismic impact of change
• Continue to paint the big picture and tell the WHY
• Current PM and business case processes often will not work
• Use numbers – but don’t get hung up on perfection
• Demonstrate opportunity loss rather than focus on tech features
• ‘Call out’ where current approval methods ‘force’ clarity prematurely
• Build in agile methodology incrementally and demonstrate discrete wins
• Even when stakeholders are ‘nodding in agreement’ check
that there really is shared understanding and
‘name the gaps’
• Don’t under-estimate comfort with pre-existing strategies
• Bide my time – but have all ready to go
when context changes
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Ultimately the game is about producing
sustainable growth so we’ll be here to meet
the aged care needs of the future.
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Case study example: How elements worked together to
increase share of market from 10 to 13% over 5 years
Fund
injections
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Case study example 2: How elements worked to
increase patronage by 78% growth over 5 years
Fund
injections
Special
case to
Minister
for funds
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Thank you
Any questions?