Your pay-per-click (PPC) marketing success is best measured by your return on investment (ROI). Up your hospital PPC ROI with keyword audits, PPC benchmarks, and monitoring hospital metrics. This ROI tells you how much money you are making from your campaigns.
Let us dive deeper into the details of the top strategies to increase your hospital PPC ROI.
1. Perform Regular Keyword Audits
PPC audits determine which ads work and which do not, according to DigitalAuthority.me. On the same note, keyword audits can help you find better, more relevant, high-quality terms to use in your ad copies.
Of course, when you leverage what works and improve those that do not, you can increase your ad visibility and even build a solid mobile PPC presence. Subsequently, you have better chances of getting clicks, driving traffic to your service pages, converting visitors, and ultimately increasing your ROI.
So how do you perform effective PPC keyword audits? Here are some tips.
- Secure insights from keyword report. You can perform your own keyword audit using free tools like WordStream or Google AdWords. You may also hire a PPC agency to help you.
- Look for patterns. Study the terms that rank ads higher and look for patterns. What are the keywords that drive these rankings, and which keywords are not ranking? Create a list of these keywords.
- Take note of the new keywords. Keyword discovery tools help you find unique and more relevant keywords. Some of the best free tools are Ahrefs Keyword Generator, Keyword Surfer, and SEMrush Keyword Magic Tool.
- Track and target the right kind of keywords. Use keyword planning tools to find the right healthcare keywords for your campaign.
- Match reports with performance metrics. Check to see if your best-performing keyword is on your best-performing page to make sure your keyword list is correct.
- Test different ad versions. By split testing your ads, find out which meets your goals best. Test other ad headlines, ad descriptions, landing page content, extensions, etc.
Regular audits save you money because you can focus on good-performing terms for your campaigns. That is perhaps why about two-thirds of marketers plan to increase their PPC budgets. Include PPC in your marketing strategies, but fine-tune your efforts with regular audits.
2. Use Benchmarks to Ensure Quality
Compare your healthcare PPC performance with industry benchmarks. Keeping these benchmarks in mind helps you check if your PPC campaigns are performing well enough to meet your goals. You get a better picture of how much more effort you need to exert to make your PPC campaign successful and thus increase your ROI.
The three important benchmarks to check are for the following metrics:
- click-through rate (CTR)
- cost per click (CPC)
- conversion rate
Below is a closer look at benchmarks for these metrics.
6.39% CTR for Medical and Healthcare
CTR is the ratio of people who saw your ad to those who clicked on it. Measure this metric using this formula:
(Clicks/Impressions) x 100 = CTR
CTR indicates ad relevance. A higher percentage means that your ad is more relevant. Smart Insight reports that the average CTR is 6.39% for the medical and health industries.
$3.21 CPC for Medical and Healthcare
CPC is how much you pay when someone clicks on your PPC ad. Calculate CPC using the following formula:
Total cost of clicks/Total number of clicks = CPC
The CPC benchmark for search ads in the medical and health industries is $3.21, according to Smart Insight. Learn about PPC payment models so you can make effective paid-ad marketing decisions.
9.21% Conversion Rate for Medical and Healthcare
The conversion rate measures the number of people who clicked on your ad and converted. This could be booking an appointment, subscribing to a healthcare newsletter, or signing up for an email list. Calculate the conversion rate using this formula:
(Number of conversions/Number of total ad interactions) x 100 = Conversion Rate
The benchmark for the PPC conversion rate is 9.21%.
2. Monitor Top Hospital PPC Metrics
Part of your efforts to boost your ROI should be monitoring your hospital’s PPC performance. Doing so helps you check how your ads are performing and make improvements where necessary. You may also use benchmarks for these metrics if you want to stay competitive.
Aside from CTR, CPC, and conversion rates, track the following:
- Sales. Track the complete customer journey starting from marketing qualified leads to sales qualified leads up to sales. Available lead generation tools are from HubSpot, Zendesk, and Unbounce.
- Return on investment (ROI). This is a straightforward metric that you can track with sales. To figure out PPC ROI, take the final value of the campaign and subtract the cost of the campaign. Then divide the answer by the price of the investment and multiply the answer by 100.
- Return on ad spend (ROAS). Measure this metric by dividing the revenue by the cost of the campaign. Compared to ROI, ROAS measures the amount of income earned for every dollar spent, while ROI is the amount made after all the expenses are accounted for.
- Campaign health. These are metrics associated closely with your marketing goals, like impression shares and Quality Score. AdWords Quality Score is rating the quality and relevance of your PPC keywords and ads. This score is on a scale of one to ten; getting eight to ten means that your ads are excellent and relevant.
- Patient satisfaction. Know how satisfied or how happy your customers are with your service. Use tools like the Consumer Assessment of Healthcare Providers and Systems (CAHPS) hospital survey form. This is a standardized survey form that collects data to measure patient experience regarding hospital services and care.
Improve hospital PPC ROI by conducting regular keyword audits, developing quality benchmarks, and performing regular CTR checks. These hospital ads strategies can help you improve ROI and reach your marketing goals. You can also create better healthcare ad campaigns in the future.