Are PTs, OTs, and SLPs allowed to balance bill patients? Only under these circumstances.
By: Tristan Gandolfi, School Partnerships Manager
Entrepreneurship is vital for a number of reasons – it spurs innovation, creates jobs, strengthens the economy, builds community, and gives voice to change makers outside of Silicon Valley. However, entrepreneurship has been on the decline in recent decades. The Kauffman Foundation estimates that startup density is down 48 percent since 1977.
As a result, Startup Week Across America was formed as bipartisan week for members of Congress to connect and support their local innovation and entrepreneurship ecosystems. It gives the opportunity for senators and representatives to discover local startups and open up the conversation about the role that entrepreneurs play in the overall economy.
Arizona Congresswoman, Kyrsten Sinema, visited SEED SPOT, to learn about the Arizona entrepreneurship ecosystem and meet founders, school leaders, and other entrepreneurship supporters. During our meeting with Congresswoman Sinema, she asked questions about how people take a back-of-napkin idea and transform it into a functioning business and discussed her work to help entrepreneurs thrive in Arizona.
“Arizona is home to creative, bold entrepreneurs and the hardest workers you’ll ever find. That’s why we’re one of the best states in the country for launching startups,” said Congresswoman Sinema. “The exciting Arizona companies and founders I met at SEED SPOT today are helping to power our state’s economy and provide good-paying jobs. We’re working to help Arizona startups by cutting unnecessary regulations, equipping our workforce with the skills they need, and expanding access to capital so these innovative companies can grow and hire.”
SEED SPOT alumna and Founder of The Nagi Foundation, Sheila Iyengar, attended the meeting and expressed the personal impact SEED SPOT has had on her business. “Even as an alumna of the program, I still feel incredibly supported. I know that any concern, question, or high-five I need is just a phone call, text, or email away. Knowing that I have such a strong team behind me has made all the difference in my confidence as business leader.”
Startup Week Across America demonstrates the importance for all ecosystems to be investing in their entrepreneurs from when they have an inkling of an idea to when they are scaling. We are incredibly excited to see members of Congress stepping up and highlighting entrepreneurship in their home districts.
Start your entrepreneurial journey today!
Related articles about SEED SPOT Entrepreneurs:
The post Arizona Congresswoman Sinema Visits SEED SPOT Team appeared first on SEED SPOT.
As the old saying goes, “you have to spend money to make money” — but no one said you have to spend an arm and a leg. In fact, many online advertisers using Google Ads pay more for leads than they really have to. There are many reasons for this, but most of them boil down to issues with audience targeting and conversion tracking. By avoiding these pitfalls, you’ll be able to better target users who are the most likely to turn into customers, allowing you to convert more site visits to leads, customers and purchases and pay less for each one.
The optimal cost per lead (CPL) or cost per acquisition (CPA) for your business depends on average sales sizes and the specific margins you are operating on. CPL reflects the price you pay for online users who qualify as leads by filling out a contact form, calling your business, subscribing to your email newsletter, or taking another valuable action you assign. CPA, on the other hand, reflects the cost to acquire one new customer, whether that’s a user of your product, or an individual purchase.
If you’re not sure what your target CPL or CPA should be, you can get started by looking at the figures you do know. For CPL, simply divide your total advertising cost for a given campaign or ad group by the number of leads generated by that campaign or ad group. You can similarly calculate CPA by dividing the number of clicks on your ads that led to a new customer by the cost of running those ads. Determining your current CPL or CPA is a crucial first step in lowering your advertising costs in the long run.
Figure out how people are finding you
There are a number of strategies that are effective to reduce CPL and CPA. (For clarity’s sake, I’ll just refer to CPL from here on out.) The first thing you should do is take a closer look at the actual queries people are putting into a Google search when they’re clicking your ads. By digging into your keyword data to discover what actual queries prospective customers are using, you’ll start to identify negative keywords that will improve the efficiency of your spend and drop your CPL.
It will be easier to uncover CPL patterns in your keyword data if you’ve assigned all of your keywords to separate ad groups. This account structure will enable you to optimize for CPL at a more granular level. In particular, you’ll be able to see how the individual keywords contribute to your campaign’s overall performance. As a result, it will be easier for you to distribute your marketing budget according to how the individual keywords in those ad groups are performing.
To get started analyzing your CPL data, take a look at the Search Terms Report. This report details all of the search terms that people have used that resulted in your ad being shown. In reviewing the report, you might discover that the people who are engaging with your ads were searching for something completely unrelated to your business. Or you might find that certain keywords are converting at much higher rates than others. As you go about this process, it’s important to remember how the costs associated with your keywords affect your CPL.
If a search term you are targeting has a high cost-per-click, but a low conversion rate, then the average CPL of that keyword will be higher. Alternatively, if a search term has a low cost-per-click and a high conversion rate, then your cost-per-lead will be much lower. Of course, that latter type of keyword is the one you want to allocate more of your budget to. Sorting out your high and low performing keywords can take a while to iron out just right. So experiment with different types of keywords, taking full advantage of the data included in your search terms report to hone in on the ones that are best for your business.
The power of precision
At Logical Position, we recommend that our clients reduce CPL by using one particular type of keyword: long-tail. These keywords are simply ones that are highly specific (and therefore longer in length). “Men’s black nylon running shoes,” or “biomedical patent attorney in New York” are examples of long-tails.
Compared to broader keywords (like “men’s shoes” or “lawyers in New York”), long-tails generally result in lower CPLs. This is partly because there are fewer advertisers bidding up the keywords’ CPCs, and partly because the people searching those keywords are more sure about what they want — and therefore more likely to convert. Getting more into the mind of your customers by imagining what keywords they might search is one key way to reduce CPL, but it’s not the whole story.
After all, not everyone who clicks on an ad or calls a business from an ad ends up making a purchase. So how can we better understand what went wrong? By taking advantage of CallRail’s Keyword Call Tracking and Recording features, it’s possible to identify which of your keywords lead to successful phone calls, which don’t, and why.
For example, if you noticed that all of the people who called you after searching a particular keyword were actually looking for something your business doesn’t offer, you would want to check your ad text for relevance. If the text seemed somewhat misleading, you could adjust it with the hopes that people who view your ad in the future will have a better idea of what your business offers. As a result, you could decrease your number of unqualified leads and, ultimately, reduce CPL.
Another way to gain greater insight into your ads’ effectiveness is with CallRail’s Multichannel Attribution feature. In practice, this service makes it possible to see all the online interactions that a customer had with your business before making a call. You could know, for example, see that a customer first visited your site through a Google search ad, then through an organic search, and then again through a remarketing ad before finally calling. Being able to see the path a customer takes before converting allows you to better evaluate the number of leads each channel brings and, therefore, the CPLs associated with each.
Clearly, the process of optimizing your CPL and CPA can be tricky and, depending on the number of channels you’re utilizing, quite involved. But when you pair Google Ads with CallRail, you’ll be able to understand your customers’ decision-making behavior in ways that make the process easier. Short of reading their clients’ minds directly, a business couldn’t ask for better insight into how effective their marketing efforts are at generating high-quality leads at lower costs.
This is a guest post from Ryan Garrow, an Enterprise Strategist at Logical Position and a driving force behind its rapid growth and nationally-recognized success.
It’s that time again: News You Can Use! Here on the CallRail blog, we like to do periodical roundups of the latest headlines in marketing and technology, and break down what these developments might mean for your company in the short- and long-term with some tech news analysis.
After all, staying on top of the latest news isn’t just good civics — it’s good for business. With that throat-clearing out of the way, let’s get to the news.
1) 5G upgrade cycle continues with $3.5bn T-Mobile-Ericsson deal (Reuters)
We spoke about the coming 5G upgrade cycle in a previous edition of News You Can Use, when T-Mobile and Nokia announced a manufacturing partnership to produce next-generation 5G wireless hardware. T-Mobile is continuing to bet big on 5G, as they’ve just announced a similar partnership with Swedish telecom manufacturer Ericsson.
Like their deal with Nokia, T-Mobile will be serving as the main supply chain for a new class of 5G cellular hardware to be rolled out across the globe. Telecom companies tout that 5G technology will offer greater range, speeds, and ease-of-use over the current 4G standard.
As with the previous announcement, this deal is more great news for business and marketers: Ever-increasing connectivity via always-online smart devices will offer you plenty of ways to make sure you’re always top-of-mind for customers.
2) U.S. DOJ to investigate social media platforms for alleged bias (Washington Post)
The U.S. Department of Justice has warned that social media companies may be “intentionally stifling free speech” and harming competition. The announcement — which did not identify the offending policies or acts of censorship in question — echoes recent complaints made by the U.S. president that social media platforms are biased against certain political views.
The DOJ made its announcement at the conclusion of a fraught Senate hearing, in which Facebook and Twitter executives faced sharp questioning over whether the platforms are purposefully limiting the reach of specific viewpoints.
Legal experts and technology analysts have raised concerns that these mounting allegations of as-yet-unproven bias will have a chilling effect on free speech. “This could be a very serious broadside against the entire Internet industry coordinated by multiple layers of government,” said Eric Goldman, co-director of the High Tech Law Institute at Santa Clara University.
Businesses and marketers should keep a close eye on an upcoming meeting of US attorneys general about the issue. Any kind of broad regulatory action taken against platforms like Google, Twitter, or Facebook could have serious repercussions for how the industry operates.
3) EU Parliament greenlights controversial copyright reforms (NBC News)
In a move that critics have decried as a “catastrophe for free speech,” the European Union Parliament has voted to proceed with a controversial set of copyright reforms that may force Google, Facebook, and other platforms to share more revenue with content creators.
Under the EU Parliament’s proposed guidelines, tech platforms would also be fully liable for copyright-infringing material hosted on their platforms. Previously, lawmakers had rejected the hardline proposal when it was brought before the European Parliament in a late-July session.
At issue are two main points of contention: First, companies like Google and Facebook would be forced to pay publishers for displaying news snippets under the proposed regulations. The other issue is mandatory upload filtering, which would require platforms like YouTube, Dropbox, Github, and Instagram to deploy filters to prevent users from uploading copyrighted materials.
The outcome of this process could have wide-ranging implications for Europe and beyond, forcing a fundamental restructuring of these tech platforms in order for them to operate in the EU. In a worst-case scenario, these tech platforms could opt to pull out of the EU entirely (as they’ve threatened before).
4) Wall St. regulators signal launch of wider crackdown on cryptocurrencies (Reuters)
Wall Street watchdogs have announced a series of punitive actions against against companies involved with or trading in cryptocurrencies like Bitcoin. The sudden burst of activity — which includes big regulatory fines for a handful of firms — signals the start of what analysts expect will be a wide-ranging effort to regulate the use of cryptocurrencies.
Securities regulators are taking an increasingly close look the use of cryptocurrencies, arguing that most forms of the virtual payment tokens can be considered financial securities under current U.S. law. If upheld in court, that precedent would make the issuance, sale, or trading of cryptocurrency subject to federal law and regulations.
Cryptocurrency is considered a white-hot (if somewhat unstable) investment asset, due to the near-total absence of oversight surrounding its use. While the dreaded R-word of regulation often sends investors running in the opposite direction, formal regulation of cryptocurrency could end up being a net positive for investors who aren’t algorithm-assisted flash traders, or members of high-end financial firms.
5) U.S. ‘smart speaker’ adoption growing at brisk pace (TechCrunch)
Ownership of ‘smart speaker’ devices — like Amazon Echo or Google Home — is growing at a brisk pace in the U.S. according to new research by Adobe Analytics. The company found that as of August 2018, an estimated 32 percent of consumers now own a smart speaker device. That number represents a sharp jump from the 28 percent of consumers reported in January of this year.
That amounts to a 14 percent increase in a little more than a half-year. Impressively, this growth occurred during months outside of the holiday sales season, the period that has accounted for nearly 80 percent of smart speaker sales. Adobe is also predicting that by the close of the 2018 holiday season, nearly half of all U.S. consumers will own a smart speaker device.
And perhaps most tantalizingly of all, the report revealed that 30 percent of smart speaker owners have used their device for shopping or ordering items. Additionally, 47 percent of respondents said they use their device for product research, 43 percent use them to create shopping lists, and 32 percent use them for price-comparison.
As we’ve noted before on the CallRail blog, the intersection of speech-recognition and mobile technology is a new, exciting, and largely unexplored frontier in marketing and e-commerce. Marketers will soon find ways to leverage this technology and ensure their products are always presented to the right audience at the right time, making the path to purchase simpler than ever.
Do you have thoughts about how these developments could affect your business? Head over to the CallRail Community to connect with other marketing professionals and share your opinion.
The post News You Can Use: 5G push continues, Bitcoin crackdown coming appeared first on CallRail.
In 2018, digital marketing isn’t groundbreaking anymore — especially for agencies. The industry has advanced to a point where if you aren’t doing some kind of digital marketing, you’re falling behind the times (and your competitors).
That said, simply offering digital marketing services doesn’t cut it either. There are hundreds upon hundreds of agencies in the United States alone, so differentiation is key. But what’s an agency to do when there isn’t much room to stand out purely in terms of service offerings? Sure, great brand messaging and unique approaches can help. But at the end of the day, most agencies offer essentially the same range of services.
Your potential clients are no longer going to be impressed by SEO or paid media savvy alone. They also need to see real results, and you need to be able to prove your value and establish trust. That’s where data-driven marketing comes in — when done right, it can make your agency indispensable.
Data-driven marketing: How to use it strategically
In an agency setting, data-driven marketing relies heavily on reporting. While the metrics included in each report will largely depend on the client or the project, here are some rules of thumb worth following:
1) Avoid vanity metrics
As your clients become more in-tune with digital marketing and analytics themselves, they’ll become more critical of the data you choose to present to them — and rightfully so! To stay transparent from the get-go, steer clear of vanity metrics. These are metrics that only offer a surface-level analysis of marketing campaigns, and can leave your clients demanding better proof of attribution.
Instead, make sure your reports turn your vanity metrics into actionable metrics that best prove the value of your work.
2) Beef up your presentations
It may be tempting to just put some charts and text boxes in a Powerpoint and call it a day, but well-planned presentations really do make a difference when it comes to convincing key stakeholders. Even the most amazing data findings can easily get buried in a presentation lacking narrative, context, or human-friendly design.
Check out these 10 data presentation tips to make sure your findings are presented as effectively as possible.
3) Consider all parts of a marketing touchpoint
Calculating ROI is important, but if you want to stand out, consider other important parts of a marketing touchpoint. For example, you can pretty easily figure out CPC (cost per click) for a search engine marketing campaign. But what about measuring the effectiveness of landing page content? (For metrics, think time on page or bounce rate).
Including this ‘softer’ information can help you look past more obvious metrics like CPC, and provide your clients with helpful feedback about what kind of content resonates best with their audience.
4) Look beyond numbers
In data-driven marketing we tend to get hung up on quantitative data, but qualitative data can be equally insightful. In fact, it often does a better job of figuring out the ‘why’ behind the numbers you see in Google Analytics (or whatever analytics tool you use).
For example, consider this case study with Australian digital agency Webfirm. Initially, they used CallRail to track phone call conversions on the campaigns they ran for their clients, allowing them to increase phone call conversions by 50 percent. But what about the callers who dropped out of the sales funnel entirely? Webfirm realized that the call recording feature allowed them to find the gaps in their team’s expertise that were causing leads to be lost. This qualitative data, in tandem with the quantitative results, helped Webfirm go above and beyond your average digital agency, proving their value and trustworthiness in the process.
When done right, data-driven marketing can help you go from an agency to a trusted partner. And in today’s agency climate, there’s nothing more important.
Interested in learning more about how call tracking can help you be indispensable to your clients? Check out CallRail for agencies.
The post How data-driven marketing makes your agency indispensable appeared first on CallRail.
With most buyer-seller transactions, calculating the cost of a product or service is fairly simple. There are no complicated formulas for determining the monetary value of a pizza or a movie ticket; you simply pay the business’s advertised price. When it comes to Medicare’s payment for rehab therapy services, however, things aren’t always so simple. Yes, I’m talking about the dreaded 8-Minute Rule (a.k.a. the Rule of Eights). So, here’s a rundown of the rule as well as how it works in WebPT—followed by a comprehensive FAQ.