Thursday, May 7, 2015

Healthcare CMOs: 3 Ways to Engage Millennials - Your New Target Market

As a healthcare CMO, you are probably focusing most of your resources on the Baby-Boomer generation, but you might want to think twice – Millennials are the new influential target market in the healthcare sector and it’s time to start engaging with them. As a graduate student in Northwestern University’s Medill Integrated Marketing Communications (IMC) program with an interest in healthcare communications, I have found two insightful articles you will find interesting on the growing influence of Millennials in the healthcare sector and how to engage them.

Millennials Leverage Technology To Alter Healthcare Delivery, by Christine Kern, explains that Millennials will soon overtake Baby Boomers as the nation’s largest consumer buyer group, which will shift the purchasing power in many industries, including healthcare. Previously it was assumed that Millennials were uninformed about their healthcare options, but recent findings show that the up and coming generation is becoming heavily invested in their healthcare decisions with the use of technology. This reliance on technology for healthcare information is very different from the way of think of their Baby Boomer parents who turn to their primary care provider as their main source of healthcare information. Millennials are reading doctor reviews online, using web-based diagnostic tools, doing comparison shopping for insurance and requesting up-front estimates.

The Tom Jones article, Millennials: The New “Boom” in Healthcare Marketing, also talks about how the Millennial generation is quickly becoming the new top consumer of healthcare information. They are taking control of their healthcare through informed decision-making, which is done by leveraging online and mobile tools. The article explains that mobile health platforms represent a significant and fairly untapped opportunity for healthcare providers to build relationships with Millennials. Millennials are seeking interactive content that they can quickly and easily access.  

3 Ways to Engage Millennials  
1.     Shift attention – It is vital that healthcare providers begin to transition resources toward building and maintaining relationships with Millennials
2.     Invest in mobile – Millennials are seeking out healthcare information and they are doing it electronically. If you want your organization to be the healthcare provider Millennials choose to partner with you must invest in technology and tools.  
3.     Adapt: early and often – Mobile is the space Millennials are turning to today for healthcare information, but that will likely change over time so providers must adapt and keep up with the generation that demands speed and efficiency.

As a CMO in the healthcare industry, you need to start focusing your attention on developing an engagement strategy for Millennials. This is a vital target market that is seeking information, so make sure your organization is the trusted source they turn to.

Tori Carper is a Graduate Student of Integrated Marketing Communications (IMC), Medill, at Northwestern University. She currently works for Healthgrades, a hospital business and marketing solutions company, as a Senior Marketing Coordinator. She is passionate about healthcare communications and will graduate from Northwestern in Dec, 2015.
You can follow her on Twitter: @tcarper88 or connect with her on LinkedIn: Tori (Fitzer) Carper

1 comment:

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