Weekly Hash: 05.09.2021
Brandon Edwards
Seasoned healthcare executive in marketing and managed care services
With rays of sunshine radiating from its logo, the Walmart brand is as non-threatening as ever. The mega-retailer's business strategy, on the other hand, poses a serious competitive threat.
Continue reading for insights on Walmart's latest healthcare move and stick around to learn about Twitter's plans for premium subscriptions.
News ? impact ? recommendation
BUSINESS OF HEALTHCARE
News: If you thought that Walmart was dialing back its healthcare ambition in the wake of departing healthcare leadership and slower clinic rollouts, think again ... because they were simply pivoting into future care models instead. This week, Walmart agreed to acquire telehealth company MeMD to provide national virtual care services spanning urgent care, behavioral health, and primary care.
Impact: The formerly modest telemedicine industry is now a global arms race, with the likes of Amazon (via Amazon Care) and Walmart (via MeMD) demanding their share. Top-of-funnel competition for consumers is stronger than ever, as health plans and employers continue to pour dollars into convenient digital access points for their consumer base.
Recommendation: Virtual care is so much more than just another channel for healthcare service delivery; it's a brand strategy, a marketing engine, and a competitive imperative. Succeeding in the top-of-funnel wars requires a digital sophistication and analytical prowess that matches that of Optum... or Walmart.
— Shannon Hooper, Chief Growth Officer
INDUSTRY TRENDS
News: Twitter announced this week that it is acquiring Scroll, a subscription service that removes ads from news articles to provide a better reading experience.
Impact: This signals two things: (1) Twitter is continuing to differentiate itself by focusing on news and (2) it may lead to more subscription-based offerings for the social platform (the platform is already testing a subscription feature that allows users to charge followers for exclusive content).
Recommendation: Healthcare organizations have largely struggled to leverage Twitter for marketing efforts. Instead of thinking of Twitter only as a space for tweets, start considering high-quality, branded offerings. Subscription-based services are gaining in popularity and users are becoming tired of click-bait and a cluttered newsfeed. If you were to offer content that your customers or patients pay for, what would it be?
— Stephanie Wierwille, Senior Vice President, Content
Joe Public All Access: On Demand
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- Long-standing strategies we need to re-evaluate
- Ways health systems need to rethink branding
- Positioning creative within your overall marketing strategy