In our previous issue of Insights, we examined the results of a 2009 survey of 66 healthcare executives with HealthStream Research, which revealed how strategic planning improves organizational outcomes and creates success. With those insights in hand, we now turn to the role of a brand in your organization.
With intense competition in the health marketplace, a strong brand is essential. It is not only vital to define your market position and build a careful, strategic marketing plan to tell a solutions-based story – indeed, it is vital to build a brand.
So what’s in a brand?
A brand facilitates healthy, empowered strategic functions in your organization, and its value isn’t just external. It also plays a major role in aligning resources internally. Strong brand positioning positively impacts performance and unites teams in delivering on your core values. This also creates a consistent patient and caregiver experience.
At Princeton Partners Health, we call this your Unifying Brand Idea (UBI) – a single, focused concept that unites your entire organization. Once defined, this one idea moves your organization forward strategically.
How strong is your brand today?
In our survey, a full 58% of participants report a lack of defined brand positioning, and 67% could not define it in seven words or less. Are you in this group?
- 59% do not know if the public understands their brand positioning
- 42% do not have consistent brand architecture across individual service lines
- Only 13% report consistent brand architecture overall
In some ways, this is not surprising.
Our previous article revealed that 27% of respondents have not conducted market research in the last two years. Similarly, 37% do not use a brand marketing or advertising agency, and of those that do, 25% use them solely for tactical initiatives. Strategic planning is also an issue. Even among those with a strategic plan, 40% report that marketing is more reactive to competitive actions than strategic brand initiatives.
What’s wrong with this picture?
A rock-solid brand requires an investment in marketing financially and strategically. When you develop a brand grounded in research and strategic planning, along with an empowered marketing team, your organization becomes poised to communicate its value clearly in your market and unite employees to live the brand every day.
Can you define your brand positioning in seven words or less? Do you have the structure in place to build and support a powerful, consistent brand? Begin to think brand and market share follows – it’s time to get in the game.
This is the second in a three-part series exploring the importance of strategic planning and the role of marketing in building a powerful healthcare brand. Our final article will explore the importance of elevating your marketing function from the tactical to the strategic in order to achieve organizational success.
