Acupuncturist Perspective on Generating an ROI from Health Fairs.
Posted on Sunday February 26 2017
Click the image above to watch the video by Jeffrey Grossman on "Acupuncture marketing health fairs call to action". Also, here’s the direct link to Jeffrey Grossman YouTube Video that speaks to his perspective on the tactics and tools that you can use to receive an ROI from health fairs: https://www.youtube.com/watch?v=GKt_AN4Ckj8
The tactics (or tools, as Jeff refers to them) that Jeff has shared, if executed correctly, can increase the likelihood of you receiving a return on investment (ROI) from the health fairs you attend as an exhibitor or vendor.
Two Main Tactics Jeff Covers:
Call to Action (CTA)
Loss Leader
I firmly believe all types of health fair exhibitors can benefit from using a CTA and Loss Leader at health fairs. I break these two tactics down in greater detail starting with the paragraph that comes after Jeff’s transcript below. Here is part of the transcript from the video that shows you how these two tactics changed the game for him at health fairs:
"... but I wouldn't really get the close or the return on investment (ROI) that I was hoping to get until I started using call-to-action cards. The types of calls to action that I've been using that have been uber successful for me have been offering a free, mini stress reduction treatment - something I call the 2022 technique - and it's really simple. ...It helps reduce stress, alleviate anxiety, and puts people on cloud nine in seconds."
Call to Action (CTA)
Some of you might be asking, “what exactly is a CTA?”
According to Google, a call to action (CTA) is “a piece of content intended to induce a viewer, reader, or listener to perform a specific act, typically taking the form of an instruction or directive (e.g. buy now or click here ).”
Next, you might be asking, “how does a CTA relate to health fairs?”
As it relates to health fairs, a CTA is an actionable phrase you use to get health fair participants to take the desired action on your offering or offerings you presented health fairs - whatever they may be. The actionable phrase can be verbal (say if you’re speaking to participants - i.e. come in for your $40 teeth whitening) and on content, like marketing collateral (i.e. brochure or gift certificate - i.e. bring this in to redeem your $40 teeth whitening).
As you perhaps already know, I used to work for a sleep medical center (link to my story). When I was an exhibitor at health fairs, my CTA to health fair participants (mainly employees at corporations and if my conversation with them qualified them as a prospect) was to state/ask the following:
“Fill out the Feeling Great Sleep Apnea Questionnaire [similar to an Epworth or Stop-Bang Questionnaire to keep it simple] to see if you’re an appropriate candidate for a sleep study. If you answer yes to 2 or more questions - provide your name and contact information on the back so that we can contact you to schedule your appointment with our sleep physician.”
If the prospect scored less than two, I would still ask them if they would like me to collect their information to schedule a time to speak with our board certified sleep physician about their sleep. This worked well for me, and this helped the sleep center converted many participants from health fairs to patients.
Now, as I mentioned, a conversation filled with targeted questions (i.e. how’s your sleep) came before and led up to the CTA. The CTA normally comes at towards the end of the conversation with health fair participants. The CTA is the pivotal moment of when a lead can become a hot prospect, which could eventually lead to the prospect becoming a patient or customer.
Loss Leader
I find that less than 20% of health fair exhibitors use a loss leader. The exhibitors that use loss leaders end up attending many health fairs. Why? Loss leaders can make health fairs a profitable endeavor. HFC has had a few exhibitors attend over 75 health fairs listed on its platform. Check out MyEyeDr's HFC Profile: https://app.healthfairconnections.com/vendors/myeyedr
In my opinion, smart business people give away OR highly discount something, whether service or product, to hot prospects to pull prospects to take the first step - whether that is to come in their practice, place of business, or make a purchase online.
Again, this increases the prospect's chances of becoming a patient or customer and increases the chances of them making a purchase at some point. Regardless and point being, I think you have to give upfront to get on the backend if you want to be successful.
So, you may be asking, “what is a loss leader by definition?”
According to an article by Kathleen C. Lanza from BusinessOpportunity.com, a loss leader is as follows:
“A loss leader is a product or service that is priced well below what is usual or customary with two key goals in mind. One, it draws customers in the hopes that they will make more expensive and profitable purchases with any money they save and once they are paying attention. And two, it familiarizes consumers with a company’s products and services, thus assuring their brand loyalty. Although the use of loss leaders has been a long-standing marketing strategy of larger retailers, it’s also found its place among smaller retail and online businesses as of late.”
To read more about what Kathleen has to say about loss leaders, here’s the link to her article: http://www.businessopportunity.com/Blog/using-loss-leaders/
The next logical question that may be coming to your mind is, “what are examples of loss leaders that could be used at health fairs?”
As it relates to health fairs, loss leaders could be the following:
A gift certificate for a free massage
A free orthotic foot scan
Free skincare samples
Free vision screening
10-day pass to a gym
Free consultation
$40 off teeth whitening
And the list could go on…
Important takeaway -- Loss leaders need to be on paper, this way participants can bring the content into your practice, storefront, or online to redeem. By having a loss leader on paper, this also could help you track how many loss leaders converted participants to customers.
If you’re still struggling with what a loss leader could be for your practice or business, sit back and take a moment to reflect - then turn to Google to see what others in your industry or niche are doing. It also might be a good idea to make a mind map and to write down all ideas that come to mind. If you’re still struggling, find a mentor or expert.
Summary
You have to use the right tactics (or tools) at health fairs to generate an ROI. A CTA and Loss Leader are two of the most important tactics or tools you can use.
Hope this enhances your understanding of a CTA and Loss Leader and will increase ROI from health fairs.
Thanks for reading. Feel free to share or add to this post in the comments section below.
