TOP 5 TIPS FOR “OUTCOME BASED MARKETING” TO HELP YOUR ACCOUNTS
- Posted on: Aug 2 2016
REP ALERT! This blogs for you if you are an aesthetic rep for a pharma or device company.
Outcome Based Marketing (OBM)
[out-kuhm] [beysd] [mahr-ki-ting]
Noun
1. Commodities compete on prices, brands compete on intangible attributes. If your accounts continue to offer treatments in the same manner as their discounting competitors, they will continue to be evaluated by potential patients based on cost.
2. When product knowledge is taken out of the equation, consumers resort to the making purchasing decisions with the criteria they are familiar with: price.
3. The strategy at its core entails taking individual products out of the equation and instead basing your marketing around the total outcome a patient has including the experience, relationship and results.
4. Regardless of familiarity with a brand, patients can relate to and understand outcomes. If one brand brings them into the practice, switching the conversation to outcomes is a natural way to reclaim the conversation and encourage the medical provider to make the treatment recommendation versus the patient dictating their medical care.
5. In simplest terms, the aesthetic medical community must recognize that the total outcome offered can dictate the price rather than the competitors setting the standard. The goal of OBM is to reach a point where what you offer is no longer interchangeable with that of other businesses offering the same service.
EXAMPLE: Consumers regularly pay the same price for the seemingly same service, a haircut. When two stylists pick up a pair of scissors, they are each using the same utensils. The results and total experience can be completely different and even warrant a significant price difference.
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