Discussion – Competitive Analysis
Respond to the following in a minimum of 175 words:
Review this week’s video on conducting a competitive analysis. Discuss how this example relates to assessing an organization’s internal environment relative to a competitive analysis. Include a consideration of how metrics may play a role in this assessment.
Video transcript attached.
VIDEOTRANSCRIPT
Page 1© University of Phoenix 2017
Healing Center: Conducting a Competitive Analysis
ID: 02-VIDEO-5375185edd7d03bc8b9c0998
Healing Center: Conducting a Competitive Analysis
RECORDED ON
Sep 25, 2017
SPEAKER
Kevin Jensen
KEVIN JENSEN: One of the core beliefs of journey healing centers is that the more that we
serve people and the more that we give, the more that we’ll receive. It really does change
lives when you deal with somebody and you’re seeking their best interest, even when
sometimes it doesn’t mean the best interest for your company or your highest profitability.
Sometimes you’re referring them out.
That comes back around to you and when people are lost or caught in their addiction,
they’re in a dark place and they’re really relying and trusting a company like Journey
Healing Centers to look out for their best interests so there is a line right there that we have
to deal with every day because it’d be very easy to cross that so we have to take that
stance of saying no, we’re committed to our mission. We’re committed to serving those in
need and being able to help them to get the person they love back whether it’s themselves
or their loved one, a family member.
When I first came on, I noticed that most people were not implementing SEO and to be
honest with you, I didn’t know what SEO was. It wasn’t something I studied in my MBA but
I did study strategy and so as I looked at what people were doing, what our competition
was doing and what we were doing, it was primarily paper click, which are the ads at the
top of a search engine that are usually highlighted that you can click or down the side and
they’re in a different color. But beneath that are natural or organic listings and those ones
you’re not charged every time they’re clicked.
So with the SEO what I saw as I just strategically analyzed the industry was an opportunity
to build an asset instead of a liability because with the paper click, every time it’s clicked
that money is going out regardless. With the SEO, that actually becomes an extension of
the brand so I really saw that as an opportunity, started to develop that and was able to
drive down our paper click costs significantly and then we have continued to put more and
more into SEO and we really stayed ahead of the curve on that and that’s allowed us to
expand and to hire more people and to serve more people ultimately.
We want to make sure when people come to our sites they’re getting the information they
need. That’s why we’ve studied and spoken with our guests and their family and realized
what they want to hear is testimonials and that was a big part. So I started shooting videos
and now we have real testimonials that people can relate to. They watch and say man,
that’s me or that’s my son and that really allows them to engage and take action because
they see what we’re able to do. And we do have other aspects of marketing as well.
Obviously networking and referrals are a huge part of the industry. You can have your
highest ROI when you’re getting a referral so you’re not having to have as many dollars
spent on your marketing and a lot of the treatment centers rely almost entirely on that,
especially the ones that are in network with insurance companies. Now we’re not.
VIDEO TRANSCRIPT
Page 2© University of Phoenix 2017 Healing Center: Conducting a Competitive Analysis
We’re a cash based treatment center so we really put a lot of pressure on our marketing
where we have to earn the right because in essence we’re saying to people come into our
treatment center and you might be spending $20,000 out of your pocket verses somebody
else where it might be 80% to 100% covered. And so we really have to show and prove
that we have a great system, that we have the ability to take care of the person or their
loved one, and that they’re willing to invest in us in order to get their life back.
There is competition but it’s really more to be in services so people share more openly. If I
wanted to go tour the center of any of our competitors, they’re usually pretty open to that. I
mean we talk and we trade. It’s really more of an abundance model instead of a scarcity.
Instead of there’s not enough, there’s more than enough. And the more we share the more
we serve others the better off everyone is going to be. So that’s one of the draws that has
allowed me to be on as long as I have been with the company is because there is such a
positive reinforcement in the industry of growth and of looking to serve and help other
people.
[End of Audio]