Marketing Value of Industry Awards
The following question and answers come from posts on SHSMD’s online discussion groups.*
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Q. A few years ago I asked this forum for research on whether marketing industry awards (Healthgrades, Leap Frog, USNWR, etc.) moved the needle with consumers and therefore was worth the investment, since it is very pricey. Overwhelmingly, your answer was "no" that these types of awards (with the exception for USNWR) were a secondary consideration behind a much more critical selection criteria, and that consumers had a hard time understanding the value of these awards and therefore they were not important to consumer decision making. I’m curious if this is still the case.
A: I would still say no, regarding specific awards moving the needle (especially when you factor in the cost for licensing). There are just so many other factors that influence a consumer's decision before awards come into play. I think the most value from winning awards is internal promotion with your staff. It's a validation of quality and can be something to celebrate internally.
A: Given where we're at with our industry post-pandemic and the environment in general, this type of marketing seems dated and "old school."
A: I agree that this is still the case with the consumer audience. Their criteria and influencing factors for choice remain very different. I can see where this could be a secondary message if budget and real estate were available, but when tested through market research, time and time again it has shown that consumers do not understand these awards and they are not part of the consideration set.
I believe this is different for the provider and broader clinical audience. They at least understand the complicated measures and data and how they translate to patient quality and safety. Given today's challenging recruitment environment, it may be worthwhile to leverage these awards within the recruitment (and retention) strategy, especially if you are in a highly competitive market where your competitors are already doing this.
A: Research we've done shows the awards have little value to consumers. I've sat in focus groups where they even talk about how much the hospital/system paid for the award. That said, they do have some value for recruiting and internal morale. In today's world, peer reviews and recommendations have much greater influence.
*The answers to the above question are excerpts from MySHSMD discussions. In some instances the responses have been edited for grammar and/or brevity purposes for Community Connections.
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