Operationalizing Market Analytics - Frost & Sullivan · Operationalizing Market Analytics Misty Hathaway Chair, Division of Marketing – Mayo Clinic ... Primary Research: Example

©2012 MFMER | slide-1

Operationalizing Market Analytics

Misty Hathaway Chair, Division of Marketing – Mayo Clinic

Marketing World 2012 18 July 2012, Boston, MA


Key Take-Aways:

• Define critical metrics and identify their source.

• What are you trying to accomplish? How will leadership evaluate

your work?

• Be focused and disciplined. And flexible in a dynamic marketplace.

• Develop a scorecard, likely with multi-level reporting.

• Format matters.


We haven’t yet figured it out

Source: Marketing Leadership Council


Fundamentals of Analytics

• What question are you trying to answer?

• What metrics best measure your strategies?

• What data exist?

• Do you need to collect new data?

• What matters most?

• How do you best communicate the metrics, and to whom?


Definition: Choose the Right Metrics

• Link measures to strategy

• Force a small set

• Tie to decision-making

• Ensure broad buy-in

• Support trend analysis

• Present simply

Adapted from Marketing Leadership Council




Target the End-User with Appropriate Detail



Know When to Stop

Obsession…..can lead to Data Overload and Paralysis


Poor display erodes credibility and diminishes impact




Examples of Measurement


Tracking Advertising


Patient-to-Patient Social Networking Platform

Over 20,900

members

116 countries


Patient Mobile App

Over 11,000

installs in

initial 5 weeks


Page Traffic: Google Analytics


Tracking Social Media


Sometimes you need to Gather Your Own Data


.

Primary Research: Example 1 Why Choose Mayo Clinic?

7

9

17

19

26

25

33

33

43

58

3

7

14

14

14

17

14

22

19

18

- 20 40 60 80 100

Mayo employee

Support Group

Insurance Plan

Factor A

Factor B

Factor C

Factor D

Factor E

Factor F

Factor G

% Major Infl/Very Imp % Minor/Somewhat

N= 953 New patients – 3Q 2011

Q2-Q3: How much influence did the following people have in your decision to come

to Mayo Clinic? How important were the following sources of information? New Patient Decision Making Study; 2011

2011 2009

Factor G 58% 58%

Factor F 43% 36%

Factor E 33% 19%

Factor D 33% 41%

Factor C 25% 10%

% Major Infl/Very Imp

Significant difference from 2009


20

Primary Research: Example 2 Brand Preference

0.6

0.9

1.0

1.6

2.3

3.6

4.1

12.5

0.7

0.7

0.8

0.9

1.1

2.5

3.5

6.1

Inst G

Inst F

Inst E

Inst D

Inst C

Inst B

Inst A

Mayo Clinic

1st Mention Add'l Mention

2010 US Consumer Brand Monitor, decision-makers 25+, n=5279

18.6%

7.6%

6.1%

3.4%

2.5%

1.8%

1.6%

1.3%

Total


21

Example 2 Brand Over Time

18.6

7.6

6.1

3.4

0

5

10

15

20

25

4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10

Mayo Clinic Inst A Inst B

Inst C Linear (Mayo Clinic) Linear (Inst B)


22

Example 2 Brand in Map Form

Mayo Clinic

Institution J

Institution I Institution G

Institution F

Inst B

Inst A

Institution C

Institution D

Institution H

Institution E


Maps can tell a Story Spinal Fusion except Cervical Procedures DRG: 497 & 498 Mapping xx Provider Percent Market Share

Data Sources: DSS, MHA, and Polaris

Year: 2006


How much detail is needed?


Division of Marketing - Confidential

Geo Targets – Volume

0

5,000

10,000

15,000

20,000

25,000

30,000

2007 2008 2009 2010 2011

Unique Pts

New Pts

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2007 2008 2009 2010 2011

Unique Pts

New Pts

Source: DSS (Decision Support System)

Market A Patient Volume Market B Patient Volume

Marketing Efforts

began in ‘08

Marketing Efforts

began in ‘09

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2008 2009 2010 2011

Unique Pts

New Pts

Market C Patient Volume

Marketing Efforts

began in ‘10

2007-2011: +30% Unique Pts;

+19% New Pt Growth

2008-2011: +7% Unique Pts;

+11% New Pt Growth

2010 vs. 2011: +7% Unique Pts;

+9% New Pt Growth

Not Payor Group eq EMPL nor RESRCH; Not

Service Complex eq OUT



Responsiveness of Hospital Staff

30

35

45

50

54

67

71

85

85

88

% A

lwa

ys N

eed

ed

for F

ull

Re

imb

urs

em

en

t

0 10 20 30 40 50 60 70 80 90 100

Mayo 1

Mayo 2

Mayo 3

Mayo 4

Mayo 5

Mayo 6

Mayo 7

Mayo 8

Mayo 9

Mayo 10

Percentile Rank % Always

Reporting Period: 1/1/2010-12/31/2010

Source: HospitalCompare.gov


Synthesize the Information



Take-aways - Again

• Define critical metrics and identify their source.

• What are you trying to accomplish? How will leadership evaluate your work?

• Be focused and disciplined. And flexible in a dynamic marketplace.

• Develop a scorecard, likely with multi-level reporting.

• Format matters.


31

Scottsdale & Phoenix,

Arizona

Rochester, Minnesota

Jacksonville, Florida

Mayo Clinic

Health System

Mayo Clinic

Health System


Questions & Discussion

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Operationalizing Market Analytics - Frost & Sullivan · Operationalizing Market Analytics Misty Hathaway Chair, Division of Marketing – Mayo Clinic ... Primary Research: Example