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Healthcare Market Research is Profitable With Psychographics

healthcare market research profitabilityWhether visiting our primary physician or a specialist at an area hospital group, we’ve all probably had blood work done at one time or another, and used the information gained from the test to make long-range decisions regarding our healthcare.

Decision-makers in health services, insurance companies, and manufacturers of healthcare products should take the same approach to how they understand consumers as doctors do in diagnosing and developing treatment plans for patients.

At c2b solutions, we develop the healthcare market research — the blood work you might say — that management teams can use to make long-range business plans and cost efficient executions.

We’re transforming how the healthcare industry approaches marketing by creating a new way to understand consumers — whether they are patients in the exam room, members paying their monthly health insurance premiums, or shoppers picking up a prescription at the pharmacy.

Why Consider Psychographic Segmentation?

Because consumers are human, their health care choices are fluid, affected by all the many vagaries of life. Moreover, many of these decisions are emotional in nature rather than objective and logical, because healthcare touches deep-seated, instinctual needs.  Marketers need a way to understand and document the changing perceptions that affect the decision-making of their customers.

For years, segmentation has been helping marketers across industries capture this kind of data, but the overwhelming amounts of information that can be accumulated these days requires a more sophisticated approach to consumer insights than the collection and interpretation of data found in the simple divisions of traditional segmentation.

Psychographic segmentation provides the necessary sophistication, allowing healthcare businesses to influence and forecast the behaviors and purchase intent of their customers. It provides unarticulated answers to questions about consumer behaviors affecting healthcare capital investments that are determined by the motivations and lifestyles of consumers.

  • Should a hospital group invest further in its new wellness centers?
  • Should a primary care practice shift resources towards nutrition and obesity programs?
  • Who is more likely to spend over $1,000 for wellness care?
  • Are patients who take daily vitamins more likely to visit the general care provider for regular checkups and, perhaps more provocatively, would this patient population be a significant revenue generator for vitamins, minerals, and supplements?
  • What are the recommended changes in customer experience for insurance providers?

Basically, psychographics help answer the “why” behind consumer decisions instead of simply cataloging the “what” of their actions.

Psychographic Healthcare Market Research Works.

Understanding our method of psychographic healthcare market research is just step one. Once you see what distinguishes our approach from traditional demographics- or behavior-based segmentation, the benefits to pharmaceutical companies, insurance providers, healthcare agencies and medical service providers begin to reveal themselves.

  • When medical providers are able to understand specific motivations that lead patients to seek healthcare, doctors and pharmacists may develop better relationships with their patients and design more effective treatment plans.
  • Health insurance companies can predict the needs of members and design forward-thinking plans.
  • Shared insight of patient motivations allows the various stakeholders in an Accountable Care Organization to seamlessly deliver integrated care and create a more coherent healthcare experience.

The consumer’s subconscious plays as great a role (if not greater) than the conscious brain in healthcare decision-making. The roles of relationships, physical and emotional health, family, healthcare professionals, government, and personal wants and needs become intelligible, measurable and understandable. Thanks to marketing systems developed around psychographic segmentation, client emotions and feelings do not need to be mysterious and difficult to activate in business plans.

So, What Will My Business Look Like When I Implement Psychographic Segmentation?

Psychographics allows you to pull back the curtain to see the inner workings of how healthcare choices are made. With information gained from psychographics, management teams can make informed decisions regarding health products, health services, pharmaceutical and insurance choices, and the messaging/vehicles needed to influence behavior.

Psychographics can be used to develop actionable, long-range strategies and tactics that lead to healthier businesses and a more vital and vibrant healthcare marketplace.

Psychographic Segmentation and its Practical Application in Patient Engagement and Behavior Change

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