RevRx™: Unlocking the Power of Media Mix Modeling
Take the guesswork out of marketing budget planning—discover how Media Mix Modeling can optimize every dollar spent.
Read MoreMore Patients with Less Guesswork? Here, Take This
RevRx™ is specially formulated to help CMOs build an intelligent channel mix that lowers CAC while driving patient growth.
Move on from Traditional Media Planning
Cure Second Guessing for Good
The pressure to perform is on. Common symptoms include: Wondering which channels actually bring in new patients. Worrying that acquisition costs are blocking sustainable growth. And lacking hard-dollar budget justification.
The C-Suite has questions about marketing spend (what’s new). Now you have the answers. Get clear, actionable data that shows the true financial impact of your channel investments.
Analyze Past Performance
Determine channel contribution in a centralized view.
Measure Incremental Channel Value
See the value of each channel along the path to conversion.
Get Clear-Cut Budget Guidance
Base budgets on model predictions with under 4% error.
Take RevRx™ to Optimize Performance
Know where your spend is going. Prove that it’s driving demand. RevRx™ combines Media Mix Modeling (MMM), healthcare expertise, and relentless channel testing to do just that.
MMM: Impeccable Data for More Accurate Predictions
It’s time to give your marketing investment strategy some truth serum. MMM gives you the facts about where the marginal ROI of each dollar is inefficient, and where to invest the next dollar to have the best impact on your forecasted revenue.
Studies show up to a 25% improvement in ROI when using MMM.
- Scale smarter despite growing complexity
- Account for nuance across systems, service lines, and markets
- Spot diminishing returns in case it’s time to diversify
- Build a data-backed case for your investment strategy
- Meet and exceed executive and private equity goals
A Recipe for Long-Term Success
1. Measure the Past
- See ROI by brand, channel, and week
- Check base vs. marketing-influenced revenue
- Verify marketing contribution by channel
- Long-term, short-term, and marginal ROI
2. Predict the Future
- Simulate prescriptive marketing plans to optimize allocations across channels, brands, tactics, and programs.
- See how new or untested channels will impact sales and marketing ROI.
- Account for external factors and constraints to avoid inaccurate modeling
3. Refresh Every Quarter
- Refresh efficiently thanks to data collected via APIs and automated data processing
- Refresh models quarterly or even monthly
- Assess performance, adjust strategies based on the data
Work with a Bonafide Healthcare Agency
For Best Results, Pair with Healthcare Expertise
Count on our deep roster of healthcare media specialists to interpret the models, inform strategy, and test everything.
Demand Generation
When it’s time to move to demand gen, or decide how much to invest in different channels, we make the case.
Demand Capture
Get the most out of your demand capture campaigns. No more missed opportunities or wasted ad dollars.
Patient Experience
Spare no detail. Welcome traffic in with a digital presence that’s optimized for maximum conversion rate.
Grow Fast with Proven Domain Expertise
You won’t waste a second having to educate us about the nuances of healthcare marketing. Hit the ground running with a team that understands multi-location healthcare, best practices for scaling and M&A marketing, and compliance. We’re DSO, MSO, and OSO friendly.
Caution! Every agency promises compliance. We’re HIPAA pros (and we have the receipts).
Reap the Benefits of Relentless Testing
We never settle for status quo. Investment recommendations are based on robust testing frameworks, integrated roadmaps, and applied analytics. That goes for new channels, ad units, and strategy—wherever there’s valuable insights, our testing will find them.
If it doesn’t drive patient acquisition, we won’t waste your time with it.
Bring Clarity to Annual Planning
“What do we do next year?” If the C-Suite hasn’t asked you yet, they will soon (probably twice). Our predictive forecasting methodology allows you to create optimized marketing plans for your organizational goals. We’ll walk you through detailed scenario planning that allows you to shift budget to channels that are predicted to deliver a higher rate of return and support long-term growth.
Always make your forecasts based on reliable algorithmic evidence.
Healthcare Marketing Educational Resources
RevRx™ Insights and Strategies to Power Your Growth
RevRx™: Frequently Asked Questions
Ask Us Anything
RevRx™ is right for you if:
- You oversee full-funnel media investments for a large healthcare company in growth mode. The guessing game is getting old.
- You invest more than $70k/month in paid media
- Agencies keep prescribing “data-driven insights,” but you want to see the science.
- You want to increase patient acquisition and revenue.
- Traditional media planning isn’t what it used to be and you’re worried that your investment recommendations will backfire.
RevRx™ combines two critical advantages: Cardinal’s deep healthcare expertise; and an MMM that uses a full-information, Bayesian Econometric model. It helps CMOs identify optimal investment strategies by analyzing practice capacity, service line priorities, and growth goals. The models we use do well with all manner of study inputs, prior data sets, and any macro factors that you know will influence performance. The more data we can provide our models, the better they’ll be able to help lower the margin of error rates for any scenarios it forecasts.
The model learns off 24 months of historical investment and KPI data (VOBs, new patients, new patient revenue, etc). The model can use a hold-out test to determine its level of accuracy against historical actuals (the latest 3 months of actuals are withheld) before any forecasted scenarios are relied upon for planning purposes. The model also has data sets of like clients that allow it to predict the performance of a net new channel being added into the marketing mix.
Based on MMM, propensity modeling, and rigorous testing, you’ll understand the biggest influences that lead to conversion outcomes and the associated audience segmentation, targeting, and UX/messaging changes that are needed.
Side effects include:
- Sudden clarity about your marketing budget and media investments
- Significant lifts in performance, patient acquisition, and revenue generation
- Rapid reduction in wasted ad dollars
- Your CEO, C-Suite, and private equity people nodding their heads in agreement
- The uncontrollable urge to fire your old marketing agency
Our team will help identify the best data sources to use for MMM. These often include:
- 24 months of lead and booked appointment data
- 24 months of media investment and media front-end data by channel and tactic
- 24 months of revenue data, by week or annualized
- Key macro factors that did influence and may influence performance
- Estimated SEO contributions