Yesterday, I talked about the growing importance for health and human service organizations to think more holistically about their revenues, and the marketing initiatives they need to compete for resources in the market. The key ingredients for marketing success are a marketing plan, and a “chief marketing officer” (CMO) to develop and implement that plan (see Most (Almost All) Organizations Need A CMO all members).
For me, what is important about the CMO role is not the title, span of control, or reporting relationship. Rather, it is the recognition that there needs to be an organizational accountability for achieving revenue goals in a competitive market.
The blueprint for the CMO action plan is the marketing plan. And, I have written many articles, and developed a number of presentations on “best practice” models for developing a marketing plan. To see if your organization’s plan is “up to speed”, check out these resources in the OPEN MINDS Industry Library:
What you’ll find in these resources is a methodology for thinking about marketing and developing a marketing plan – but a not a “cut and paste” plan with strategies and tactics. Why? Because of the complexity of both service lines and funding sources in the U.S. health and human service systems. Your marketing plan will, by necessity, look very different depending on your current and planned mix of revenue sources. For most organizations, there a six types of revenues:
Philanthropy and charitable giving – both individual and institutional
Fee-for-service revenue – in both open systems and managed care systems
Revenue from value-based purchasing (risk contracts and P4P contracts) with payers
Consumer private pay
Grant funding – from both governmental and private agencies
Government service contracts – federal, state, county, and municipal
Your marketing plan – which is your roadmap to success in a competitive market – needs the strategies and tactics that are appropriate to the sources of funding. But, even with a great plan, you need a great team – lead by a CMO – to make the plan a reality. Understanding the market is one thing and responding to it is another. Or, as Morpheus said to Neo, in the 1999 science-fiction blockbuster, The Matrix, “There’s a difference between knowing the path…and walking the path.”
For another free resource, see: Best Practice Provider Marketing? Think Push & Pull all members