Traditional Marketing Strategies on Rise – Reasons Behind This Trend

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StrategyDriven Marketing and Sales Article | Traditional Marketing Strategies on Rise - Reasons Behind This Trend

Undoubtedly, digital marketing techniques are ruling the technological space. Moreover, some of us believe that traditional marketing has lost its charm. But that’s nothing more than a myth. The biggest evidence of it is the latest metrics. As per the recent trends, the marketers clarified that the spending on traditional marketing techniques would increase by 3%. It certainly means the marketers are moving back to basics.

The leading companies in this ongoing shift are B2C, which offer different services. On average, B2C service companies spend around 10.2% on traditional marketing. The numbers are expected to increase rapidly in the future. The second runner-up leading the shift is none other than the B2C product companies. Over 12 months, the companies will certainly increase their spending budget on traditional advertising forms.

After reading the above metrics, you might ask why marketers are shifting to using traditional advertising. Hold on; we are here to answer your questions in this blog with solid reasons.

 

Long Lasting and Highly Sustainable

One of the biggest drawbacks of digital marketing is the need to serve the audience with something new daily. You tend to feel overwhelmed when you constantly try to win the attention of potential customers. You may post around 3 to 4 times on social handles to stay on the audience’s mind. The hassle of coming up with new content pieces every day is troublesome.

Traditional marketing methods eradicate this issue smoothly. For a while, take the example of TV ads for businesses; they are sustainable and stay engraved in mind. There are still a bunch of timeless TV ads, and you still remember them even after years of launch. Think of your childhood days, how you used to sing every TV ad word by word.

 

Fresh Approach Compared to Existing Digital Clutter

Daily, consumers are bombarded with hundreds of ads. When your target consumer repeatedly watches one ad, their frustration levels will rise. Although you were looking to crack a deal, the recurring digital ads left a negative impression on them.

Consumers have become numb to the ongoing trend of showing ads. Digital clutter is so much on the rise that all you find are ads everywhere. It is one of the reasons why around 57% of individuals disliked ads that played before the video, and 43% of them paid no attention to ads. Considering these metrics, it means your efforts are going in vain.

Under such circumstances, running traditional ads is the right escape. The majority of consumers still love to watch TV ads for businesses. They read print ads and rely on TV and radio channels to engage with brands. Traditional methods are still capable of outperforming digital ads. Also, the cost of running traditional ads is much lower than digital ones.

 

Leverage Consumer’s Trust & Establish Credibility

When you look at the top forms of marketing which consumers trust, the majority of them are traditional. Your potential consumers still prefer trusting traditional modes of advertising for making purchase decisions. Also, trust works like a currency, and it’s the only thing you need to convert the lead into customers.

Also, traditional tactics seem more reliable to your audience than digital ads. Consumers nowadays will choose a business over others if they are genuinely interested in it. As a result, traditional ads allow you to leverage trust and establish long-lasting relationships. Even TV ads for businesses place your brand in the heart and mind of the local audience, which means attracting more customers.

 

Clubbing Digital With Traditional

What if you combined digital marketing with traditional tools? The results would be awesome, powerful, and surprising enough. Think of podcasting and direct mailing for a while. These traditional marketing techniques are still popular but with a new twist. Companies these days send direct mailers with QR codes attached. By scanning the code, the consumers get to know more about the sender. Also, marketers can collect more robust data for creating more targeted ads and boosting ROI.

Similarly, Podcasts are coming back in trend. In recent times, podcasts experienced a rise of around 51%, with the number of listeners still growing rapidly. Running podcast ads is effective in such cases. Also, people often listen to podcasts while commuting or travelling elsewhere. Like TV ads for businesses, podcast ads can potentially gain the target market’s attention.

 

Final Words

For quite a long time, digital pundits have been preaching the death of traditional marketing methods. But the good news is, like a phoenix, the traditional ads are back in trend. The majority of marketers are even questioning the effectiveness of digital ads. Even after spending so much, the ROI is not that much.

Look at all the above pointers, which clarify why traditional advertising is rising. It not only helps in winning trust but also turns buyers into recurring customers. Rethink your marketing strategies now and leverage the effectiveness of traditional ads.

How To Enhance Revenue Cycle Management For Your Hospital In 2023

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StrategyDriven Managing Your Business Article | How To Enhance Revenue Cycle Management For Your Hospital In 2023

Running a hospital is more than offering a top-notch quality of care to your patients at all times. Of course, it is the mainstay of operations, but you also need to focus on revenues to keep things on track. Whether you run a small private practice or a large multi-specialty hospital, improving revenue cycle management should be your priority. Essentially, it is about streamlining your payment processes, reducing payment lags, and limiting rejected claims. Covering these fronts increases the efficiency of your hospital and brings more money for it. Although you may have a revenue cycle management process in place, the New Year is the best time to improve it. Here are some measures you can embrace in 2023 to facilitate the system.

Step up appointment scheduling

Stepping up the appointment scheduling process gives you a good start with enhancing the revenue cycle efficiency of your hospital. After all, you must ensure that the right number of patients step in at a point in time. Stretching your schedules can affect the quality of care and increase the burden on providers. Conversely, not getting enough patients in appointment slots translates into a loss of revenue. Improving appointment scheduling by letting patients schedule their own appointments can address the concern. Also, implement a system to send out reminders to minimize no-shows and missed appointments. Consider upgrading your practice management software this New Year to streamline the scheduling function.

Automate verification of patient eligibility

Another measure to get better with hospital revenue cycle management is to automate the verification of patient eligibility for claims. Ensuring that your patients are eligible beforehand enables you to reduce claims rejections down the line. It also eliminates one of the biggest pain points of the billing process. Additionally, automation boosts employee productivity as they can skip all the repetitive tasks and focus on more critical aspects of running the practice. Your hospital staff will be in a better place to provide quality care instead of wasting time on verification and paperwork.

Bring transparency in payment processes

Besides streamlining appointment scheduling and eligibility verification, you must focus on bringing transparency to payment processes this year. Ensuring healthcare cost transparency is a trust factor for patients as they know their financial responsibility before committing to the treatment plan. It also benefits your organization by reducing bad debts down the line. You can go the extra mile by giving patients the option to pay their bills online, as it is convenient and encourages timely payments. The overall objective is to make your payment process simple, transparent, and more accessible.

Modernize claims processing

Modernizing claims processing should be next on your checklist to improve the revenue cycle management for your hospital. You can do it by implementing a software solution to handle claim documentation and calculations instead of relying on the conventional manual process. The switch helps in ensuring the accuracy and completion of claims before submitting them to insurers. It boosts the chances of prompt payment and limits the risk of rejection of claims for your hospital.

Manage claim denials

Denied claims are an integral part of the business, so you cannot sideline them completely, no matter how efficient your process is. But careful planning and attention to detail can help you minimize them. Outsourcing your revenue cycle management to specialists ensures the highest first-pass acceptance rate. Also, follow up on denied claims instead of losing track and not resubmitting them. You can always send such claims for review and resubmission to get a second shot.

Outsource medical billing

Another simple step to enhance hospital revenue cycle management is to clean up your medical billing practices. The best way to do it is by outsourcing the process to an expert as it reduces your workload and prevents errors and inefficiencies in medical billing. A specialist can also help you improve the process efficiency to get you paid faster and increase your revenues in the long run. Moreover, your staff can concentrate their energy on patient care without worrying about long and complex billing processes.

A healthy revenue cycle is key to the success of a hospital as it keeps the money flowing and boosts profits in the long haul. But you cannot take a set-and-forget approach to revenue cycle management because things can easily go out of control if you are complacent about billing, payments, and claims. Follow these easy steps this New Year to keep track of dollars, ensure timely payments, and stay ahead of denied claims in 2023 and beyond.

Don’t Delay Justice – 5 Mistakes To Avoid Post Car Accident

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StrategyDriven Risk Management Article | Don't Delay Justice - 5 Mistakes To Avoid Post Car Accident

It doesn’t matter whether you have been in a minor car accident or in a major crash with another vehicle, it is very crucial that you take certain steps to not just mitigate your loss but also to ensure that you get compensation for your damages from the party at fault. It is going to be a little difficult to remember these things, especially when you are disoriented after a car crash. There will be a lot of things to deal with later on such as medical bills, lost wages, repair costs of your vehicle, and a lot more. But all of that can be managed well enough if you do not make the mistakes that this blog talks about after your car accident. Let’s discuss them in detail right now:

1. Admitting Your Fault

If you do this, you will be jeopardizing your car accident case yourself. But it is important to refrain from saying “I am sorry” or apologizing to the other driver under any circumstances. If it is a minor car accident and if both parties agree to apologize to each other and move on with their lives, that is a different thing. However, if it is a serious injury whether it is sustained on your body or the other person’s, things are going to change significantly for both of you. This is where you will need the support of a legal advisor or car accident attorney. Remember, it is never a good idea to apologize because that amounts to admitting that you are at fault.

2. Leaving The Car Accident Scene

If you do this, it is going to leave no room for imagination for anyone. Everybody is going to think that you were responsible for the accident and this is why you fled the scene of the car crash. This is not a good approach to take. In fact, you are supposed to stay at the scene of the car accident for as long as you can and collect evidence in the form of pictures and videos after your accident. In most cases, it will be that you cannot leave the scene of the accident because you are probably injured or temporarily disabled due to physical and emotional trauma. It is better to try to come back to your senses and record footage of the place if you can.

3. Forgetting To Call The Police

Whether it is a big accident or a small one, it is important to call the police or local law enforcement officers in your area. The place will be able to pick up important clues from the site of the accident that can help you claim damages for your loss. They will be able to record all the evidence and put together a file for your benefit. It also helps you create a record of the entire incident so that your traffic accident lawyer can refer to it at a later stage to verify his observations if you finally decide to go to court.

4. Avoiding Seeing A Doctor

Avoiding seeing a doctor is also a very big mistake that a lot of people make. The jury or judge is going to need evidence that you have sat through all the treatments and gone through all the medical procedures that were due. They are critical to recovering from the physical and emotional trauma that you have suffered. It is important to seek prompt medical attention and treatments to recuperate from your accident injuries. This is because the longer you wait to see the doctor the more difficult it will become for your lawyer to prove that your injuries were actually a cause of the accident and not some other ailment or disease.

5. Mistakes In Your Medical Expenses

If you are not good at math, it is better to hand over this responsibility to somebody else in your family. Forgetting to document all the expenses related to your medical treatments and procedures is a very big mistake. You cannot neglect this responsibility because this is going to get you closer to getting your rightful compensation from the party at fault. If you have detailed information about your medical expenses, the insurance adjusters are going to find it easier to calculate the compensation that you should get for your damages.

Conclusion

Finally, if you can avoid all of these mistakes in addition to a few more that your lawyer can talk to you about, it will be easier for you to claim your damages and get back to your life much sooner.

Retail Software In 2023 – 6 Things You Need To Know

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StrategyDriven Managing Your Business Article | Retail Software In 2023 - 6 Things You Need To Know

The coming year is going to be a lot more exciting. It is going to be a time for new opportunities and a few new digital trends too. Your retail store is not going to be the same again. This blog talks about a few things you never knew about retail software tools and platforms. It gives you a snake peek into what it can accomplish for your brand:

1. Giving You More Real-Time Visibility

These platforms give you total control over your warehouses, shops, floors, containers, product shelves, and a lot more. You get real-time visibility when managing your inventory stocks and replenishing your shelves. You get regular alerts whenever you run out of a particular product and avoid downtimes easily.

2. Automating Your Processes

The right software tool can automate several of your in-house tasks such as billing, inventory, auditing, regulating prices across your shelves and isles, maintaining payroll records, processing returns and exchanges, and a lot more. You can eliminate any potential human error by employing the most suitable retail solution for your business.

3. Letting You Connect With Your Customers Better

When you have invested in the right software solutions for your store, you can spend more time with your customers, engaging them in conversations that can help you market your products and promote new brands that you want to introduce through your shop. Getting to know your customers helps you understand their needs better and you can cater to their requirements more easily and efficiently. This helps you reduce incidents of returns significantly.

4. Regular Updates With The Right Vendor

Another very big advantage of using a dependable and customized software solution from the most appropriate vendor is that you get regular updates and upgrades. You also get anti-virus and anti-malware patches and solutions for each of the devices that you use in your retail store. If you choose a brand like Vusion, you have the peace of mind that your retail processes will be completely secure and future-proof at the same time.

5. Goes Well With Your Plan And Budget

When you know exactly what features you are looking for in a particular tool or software platform, you can rest assured that it is going to go well with your overall business plan. They will be certain functions that you want the software platform to perform. You can always eliminate the features that you don’t need which makes the custom software a better fit for your organization and keeps it well within your financial constraints too.

6. Custom Development And Implementation

Did someone talk about custom software development for your retail store? This is very important. It also gives you an opportunity to keep the interface of the software at a bare minimum and use all the best features that high-end platforms utilize. This makes the development faster and the implementation is also easier because there are fewer learning curves for everyone in your retail store staff.

Wasn’t That Incredible?

Investing in the right retail software in 2023 is going to be a game changer for your business. It is time you think about it seriously before the year ends.

Tips To Ensure Your Online Store Never Falls Short Of New Leads

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StrategyDriven Online Marketing and Website Development | Tips To Ensure Your Online Store Never Falls Short Of New Leads

The e-commerce domain is full of opportunities, making it one of the most popular industries for new entrepreneurs. The entry is frictionless as you only need an online store to open your shop and display your products. A robust digital marketing strategy is enough to make your website visible at the top of search rankings and attract social media followers. You can go the extra mile with paid ads and email promotions.

But it is only one side of the picture because the industry is rife with competition, specifically in the new normal. Generating leads is the hardest part because you cannot expect to generate all the revenue from direct website visitors. People may visit, browse, and leave without converting more often than you imagine. You have to do your bit to generate qualified leads and drive them to conversions. Let us share a few tips to ensure that your online store never falls short of new leads.

Identify buying patterns

Identifying buying patterns of your target prospects is a great start. The best part of selling online is that you are in a better place to understand shopping behavior because you can follow visitor navigation on your website. The more you focus on it, the better your odds of generating and converting more leads. You can rely on website analytics to chart the buying patterns of your visitors. In fact, you can use the information to understand the product and pricing preferences of potential buyers. It helps you personalize your messaging and interactions when you connect with them down the line.

Nurture with valuable content

The next step is to nurture the potential leads with valuable content. Think beyond only sharing information about your brand and products on your online store. Of course, these are the essential elements of an e-commerce website. But you can build trust by providing details of how your product or service can resolve a buyer’s pain point. The approach shows that you genuinely want to help your customers. Moreover, it convinces them about the usability of the product for their needs. Both factors take you a step ahead on the lead generation front.

Outsource lead generation services

Another valuable tip to ace lead generation in the competitive e-commerce domain is to collaborate with experts instead of going alone. Fortunately, you can outsource lead generation services for online stores to avail of specialized expertise. Since these experts know the challenges and opportunities of the domain, they can get you qualified leads. Your sales reps can directly work on converting them instead of struggling with a long list of prospects in the first place. It reduces the conversion cycle and saves time, money, and effort in the long run.

Leverage social media

Leveraging social media is another quick hack to generate leads for your online store. Since e-commerce buyers are internet-savvy, they prefer to research brands and products online before buying products. A compelling social media presence gives you an upper hand because it fosters trust and credibility. The good thing about social media campaigns is that they help you do more with less. A strong community and positive reviews go a long way to boosting your lead generation strategy. Besides getting fresh leads, social media marketing enhances retention and community building.

Win with enticing offers

Lead generation for online stores requires going the extra mile, and you can do it by attracting prospects with enticing offers. Provide thoughtful incentives to first-time buyers, from freebies to welcome bonuses and first-time discounts. You may spend a small amount on these promotional offers, but the expense is worthwhile because it gives big paybacks. Such incentives bring first-time buyers to your online store and make them loyal customers. They return for repeat shopping and even recommend your brand through online reviews. So you should not have any qualms about giving away special deals and discounts to generate fresh leads for your business.

Online selling is lucrative yet challenging in the current competitive landscape. Generating new leads is perhaps the hardest part, regardless of the size and scale of the brand. You have to convince buyers that your offerings and prices are better than the others in the market. A great-looking website gives you a good start, but you cannot rely on it alone. You must have an actionable lead generation plan for your online store. Although there are no shortcuts to implementing such a plan, you can definitely rely on these tactics to move ahead in the race.