I believe giving incentives to client referrals would not only keep existing clients but these clients would help Family Health Group attract more clients. Family Health Group already has its set of clients. These clients know our capability as a medical service provider. We are a trusted brand. Contrary to Primary Care Group, we have already proven our worth and establish a name. It shouldn’t be that difficult to keep our existing clients. Right now, what is needed is a program which would bend them away from the tempting offers being offered by Primary Care Group.
Primary Care Group’s marketing strategy is just a tactic, albeit a good one. We wouldn’t need a strategy which is as expensive as theirs. I think this is the best time to employ a networking strategy. Existing clients will receive a referral incentive for every new client they bring in to the business. When it comes to health plans, a person tends to trust somebody he or she already knows, compared to some stranger endorsing this new health plan. These referral incentives need not be monetary. These can be free services they can avail of.
Family Health Group should incorporate in the health card a tracking system which can track how many referrals a client has. Each referral corresponds to some points they can earn, depending on what plan the new client has availed of. The points earned can then be converted into medical services that the client can avail of. The reward point system suggested above can further be extended. For every medical services a client avails entitles him some points. We should provide our clients incentives for using our services.
This not only increases our sales but clients will try to familiarize themselves with our other services so to find applicable services they can avail of. This is my second suggestion. Credit card nowadays are doing this strategy, there’s no reason why health plans should not follow. However, for these suggestions to work as planned, extensive study should be in place on how many points to allot for client referrals and for such and such services. Obviously, the more profit we can derive from referred clients or availed service, the more points we can afford to giveaway.
Point redemption should also be analyzed for optimal presentation, i. e. what services can be availed by this number of points. To minimize the adverse effects of the formation of a new health care group nearby, the above plan should be able to materialize as soon as possible. In depth study on the rewards point system can be done in a week. Implementation should start right after. Our advantage against Primary Care Group is that we don’t have to spend much on marketing outside. We can market to our existing clients and use them to help us in convincing more clients to sign up for us.
With the new health group, we should try to keep up. Keeping our existing clients should be easy. Even with Primary Care Group’s broad marketing and free services, our existing clients will hesitate switching when they hear about the reward point system we are going to implement. This system also encourages them to refer more clients. Expenses for implementing this strategy is expected to be nominal, compared to what Primary Care Group has spent. The cost for free services we offer in exchange for points will be taken from the profit they bring in, i. e. new clients, more availed services.
Courtney from Study Moose
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