Staying ahead of the competition and effectively reaching target audiences is critical for success in medtech and healthcare marketing. As Q3 approaches, it’s time to ramp up your marketing efforts and maximize your market penetration. By applying these strategies, healthcare innovators can significantly enhance their visibility and achieve substantial growth in Q3. Here are six ways to elevate your marketing to push closer to your Q3 growth and revenue goals.
1. Understanding Your Target Audience
To develop effective marketing strategies, gaining a deep understanding of the target audience is paramount. Medtech companies should analyze the specific demographics, pain points, and challenges faced by their target healthcare providers, administrators, or patients. Creating detailed buyer personas based on this analysis will guide marketing efforts and ensure tailored messaging that resonates with the intended audience. But it goes further than that. Given the relatively small size of one’s target audience, it’s possible to build a database of the individuals who comprise the “market” each company is trying to serve. By utilizing this level of granularity, it’s possible to track marketing/sales engagement in a more effective manner.
2. Account-Based Marketing (ABM)
ABM is a strategic approach that focuses on targeting and nurturing key accounts or high-value customers. In medtech marketing, implementing ABM involves:
Identifying key accounts or healthcare organizations that align with the medtech solution’s ideal customer profile.
Tailoring personalized marketing campaigns for each account, addressing their unique pain points and challenges, again, potentially down to the individuals in the account.
Utilizing advanced data analytics and predictive modeling to identify decision-makers and customize messaging for optimal impact.
Engaging in personalized outreach, such as webinars, email marketing, and meetings to establish strong relationships with key stakeholders.
3. Search Engine Optimization (SEO)
SEO is crucial for medtech companies to improve organic visibility and attract relevant traffic to their websites. Few people search for keywords related to medical technology that are not high-value prospects. Therefore, it’s crucial to be found when they are searching. SEO strategies to consider include:
Conducting comprehensive keyword research to identify high-intent keywords specific to the specific marketing being served. It’s important to remember that someone searching may use layman’s terms in their efforts, so good SEO capitalizes on both technical and non-technical searches.
Optimizing website content, meta tags, and URLs with relevant keywords.
Building high-quality backlinks from reputable healthcare publications, industry directories, and authoritative websites. Avoid “spammy” backlinks because they tend to lower SEO performance.
Optimizing website speed, mobile responsiveness, and user experience to improve search engine rankings.
4. Conversion Rate Optimization (CRO)
CRO focuses on maximizing the conversion rate of website visitors into qualified leads or customers. In practice, this is designing the website to support the Buying Journey of the prospect, helping their process of education and engagement with the company. This is in direct contrast with how most websites are built, where the company or the solution is the “champion” of the website. Instead, focus on the prospect as the champion and the website is to aid their journey. CRO techniques for medtech marketing include:
Utilizing heatmaps, click tracking, and user session recordings to identify user behavior and optimize website design, layout, and content.
Implementing A/B testing to evaluate different landing pages, calls-to-action, forms, and content variations for optimal conversion rates.
Incorporating persuasive copywriting, social proof, and testimonials to build trust and credibility with website visitors.
Leveraging advanced lead capture and nurturing techniques, such as progressive profiling and personalized content recommendations, to increase conversions.
5. Marketing Automation
Marketing automation streamlines and automates marketing processes, allowing medtech companies to nurture leads and engage with customers at scale. Given the lengthy sales cycles and multiple decision-makers, tools like HubSpot are a near-requirement for successful companies. The visibility and reach marketing automation provides to support the sales effort is critical for success. Best practices in marketing automation include:
Implementing sophisticated lead scoring models based on behavior, demographics, and engagement data to prioritize leads for sales teams.
Segmenting leads and customers into highly targeted lists for personalized and automated email campaigns.
Leveraging dynamic content personalization to deliver tailored messages based on individual preferences and interests.
Utilizing advanced analytics and reporting to track the effectiveness of marketing campaigns and optimize future strategies.
6. Thought Leadership
Many firms seek to develop “brand awareness” as a part of their marketing strategy. While that is important, what they really want to do is to develop “thought leadership.” Thought leadership is essentially the cementing in prospects’ minds that for a certain problem or set of problems, a certain company’s offering is THE offering to use. Establishing thought leadership in the medtech industry is crucial for building trust and credibility. Strategies to develop thought leadership for medtech marketing includes the production of content from qualified subject matter experts (SMEs). It can also include:
Publishing in-depth whitepapers, research studies, and case studies that demonstrate expertise and innovation in the field.
Hosting webinars, podcasts, and panel discussions featuring industry experts and thought leaders.
Collaborating with influential healthcare professionals and researchers to co-author articles or contribute to industry publications.
Participating in industry conferences, seminars, and speaking engagements to share insights and perspectives on emerging trends and challenges.
As Q3 is upon us, medtech and healthcare companies must seize the opportunity to enhance their marketing penetration through effective digital marketing strategies. By understanding the target audience, implementing Account-Based Marketing (ABM), optimizing for search engines (SEO), enhancing conversion rates (CRO), utilizing marketing automation, and establishing thought leadership, medtech innovators can gain a competitive edge and position themselves as leaders in the industry. Applying these advanced strategies will drive visibility, engagement, and success in the rapidly evolving medtech landscape.
A comprehensive, smartly designed marketing strategy is more crucial than ever in the shifting economic and technological advancing landscape. But you don’t have to go it alone. Whether you need a full-service team of marketing experts to design and implement your marketing strategy or some highly-skilled extra hands to take on a specific project, we’re here to partner with you.. Just ask Jairus.
For many medtech companies, sending reps into the hospital for sales calls feels like a distant memory. Now, leaders must go back to the drawing board to devise new marketing and sales strategies to drive growth despite unprecedented industry challenges.
Challenge: Limited Face-to-Face Opportunity
Perhaps one of the most disruptive medtech shifts brought about by the COVID-19 pandemic was the immediate elimination of access to physicians and other healthcare decision-makers. However, concerns about face-to-face interaction overshadowed industry-wide challenges even prior to COVID. Hospitals have long been trying to keep medical device marketing and sales reps out of the operating room. Administrators block access to physicians to funnel reps into conversations with gatekeepers who can slow the growth of technology costs — a tactical decision to minimize rep influence among physicians.
The pandemic didn’t create the opposition to in-person rep conversations, it only strengthened it. One survey reported that among the 75% of physicians who preferred face-to-face interactions with medtech reps before COVID, 47% now prefer virtual meetings — or fewer interactions overall.1 Considering the traditional medtech sales model hinges on getting a foot in the door with key physicians and decision-makers, administrators determined to keep these doors shut force reps to find alternative ways to make connections.
Solution
Jairus Marketing excels in reopening doors to healthcare decision-makers through its digital marketing strategies. The Jairus model circumvents traditional sales avenues by reaching decision-makers outside of the clinical setting, powering convenient and impactful engagements proven to build the pipeline. Just like the rest of us, clinicians and administrators are highly active online — the Jairus team knows where to find them and how to effectively capture their interest and generate demand.
Challenge: Time Scarcity
A shift towards RVU-based compensation for physicians means less time for “non-productive” activities, like meeting with sales professionals. Even with that drive for greater and greater productivity, doctors and administrators continue their interest in learning about new technologies that can provide better outcomes or improve the profitability of the organization.
Solution
Instead of carving out time in their tightly-packed schedules, physicians would much rather engage with follow-up efforts on their own time. Fortunately, there are more effective ways to pursue sales efforts without going back into the office. By automating the marketing and follow-up process, Jairus enables massive growth within existing sales infrastructure. This empowers full engagement with your brand and undivided attention to your message. Additionally, by providing valuable content to prospects outside of the context of a salesperson to prospect conversation, doctors and administrators can build their interest in your offering on their own time, when they are more engaged and willing to dive deeper into your value proposition. With Jairus, decision-makers are immersed in a convenient, accessible, and stress-free marketing experience that makes it easier than ever to say “yes”.
Challenge: Decrease in Physician Decision-Makers
From 2019 to 2021, hospitals and other corporate entities increased their physician employee population by 19%.3 Likewise, the percentage of corporate-owned practices grew by 39% in just two years.3 This trend spans all practice sizes and specialties. While the employment shift to larger healthcare entities, especially integrated delivery networks (IDNs), may strengthen job security and financial stability for previously independent physicians, the impact on medtech companies may prove to be detrimental.
When physicians are no longer the primary (or sole) decision-makers, innovation may take a backseat to financial constraints. This transfer of power may stifle growth and makes it exceedingly difficult for medtech companies to pique the interest of those with purchasing power if not approached correctly. This new world of medtech marketing requires companies to sell to administrators, whose agendas extend beyond clinical matters, as well as physicians. Further complicating matters, many of those administrators don’t meet with sales professionals regularly.
Solution
Medtech innovation benefits more than just patients and providers. The full picture also includes financial, practical, and administrative gains — value propositions sure to catch the eye of IDN and hospital leaders. By customizing content and messaging to hone in on what appeals the most to each audience, Jairus grants full market access to medtech companies of all sizes. By deploying marketing campaigns for all audiences, it is possible to build a coalition of support in an account. The approach we utilize leverages comprehensive audience research to inform hyper-personalized outreach efforts, broadcasting that content on the right platforms to maximize engagement and drive conversions.
Looking to future-proof your medtech marketing strategy? Learn more about how Jairus can help you effectively reach decision-makers for high-impact sales conversations.
Physicians are increasingly recognizing the advantages of using digital tools and technology to support patient healthcare. A recent digital health report by the American Medical Association spotlights shifting physician attitudes toward digital health solutions over the past six years. For medtech companies and those marketing to physicians, this research provides new insights and opportunities for strategic initiative and audience development tactics.
Here are six notable statistics from the study that can guide medtech companies and physician marketers in their marketing efforts:
Statistic #1 | Closing the Gap Between Digital Tools and Patient Care
From 2016 to 2022, both primary care providers (PCPs) and physician specialists in all age groups grew in affinity for digital health solutions – a continual increase from 85% to 93%. Medtech companies employing digital outreach strategies to reach their target decision-makers can leverage this trend to increase digital literacy and enhance engagement with online messaging and marketing efforts.
Statistic #2 | An Inside Look Into Digital Utilization
Among the 1,300 physicians surveyed, the average number of digital tools increased from 2.2 to 3.8. This figure remained consistent across age groups, gender, and years of practice. Furthermore, those who were particularly enthusiastic about adopting technology used an average of 4.2 digital tools for their practice operations. These statistics highlight that physicians are increasingly moving towards digital solutions in their practices, and it can be safely assumed that this pattern extends beyond professional settings.
Statistic #3 | Characterizing the Digital User
The physician groups with the highest interest in digital tools include practices that are mid-to-large-sized, partially owned, in a multi-specialty setting, and those offering primary care services. Medtech companies who can activate their physician marketing strategy now have the opportunity to capitalize on this current interest with these audience segments..
Statistic #4 | Top Drivers of Digital Adoption
The three most persuasive benefits of digital health solutions include:
Improved patient outcomes (88%)
Streamlined workflow (88%)
Stronger diagnostic capabilities (83%)
Knowing the value propositions that resonate with each audience can help marketing teams focus on associated pain points and offer powerful solutions to address them.
Statistic #5 | Roadblocks to Digital Engagement
In addition to identifying what your audience does want in their ideal health solution, an equally important strategy is understanding what your audience doesn’t want. The three highest ranking red flags in digital tools include:
Tools that do not improve the standard of care (80%)
Additional training requirements (78%)
Any device presented without peer-reviewed research confirmation (73%)
These key elements will be hurdles if they are not cleared before employing your medtech go-to-market strategy.
Statistic #6 | Pinpointing The Decision-Maker
Despite growing interest in digital tools and health solutions, physicians prefer the passenger seat in the decision-making process. Overall, there was an 11% decline in physicians interested in spearheading these initiatives – most would rather be consulted or simply informed. Historically, physicians took the wheel for these decisions – now, the best audience may be other leaders in the same practice. However, sole practice owners remain the most invested in this process, with 27% more interest than partial owners. Physician marketers must carefully consider how this information impacts targeting efforts and suggest strategy shifts.
These are just some of the insights provided from this study. Meanwhile, the team of marketing experts at Jairus specializes in being on the leading edge of medtech market research and go-to-market strategy like this as we provide successful outcomes for our clients every day. We’d be pleased to meet with you to discuss how we can partner with you to elevate your medtech marketing efforts. Let’s talk.
As author Robert J. McKain once said: Strategic planning will help you fully uncover your available options, set priorities for them, and define the methods to achieve them. In the fast-paced worlds of marketing, technology and healthcare, options change and new opportunities surface continually – making it imperative for MedTech companies to avoid the antiquated model of annual strategic planning, casting in dense concrete 12 months’ worth of unalterable focus and effort.
The ability to not only recognize new opportunities in the marketplace, but to act on them with agility, is what sets successful companies apart today. By making strategic planning more than a once-a-year effort, you set yourself up to do precisely that – and the process is more effective today than ever, thanks to the advent of digital technology and all of the data that comes with it.
What goes hand-in-hand with that shift? Ensuring your sales and marketing teams are not only aligned, but fully intertwined. The traditional model of downstream vs. upstream strategies, with clear divisions between sales and marketing, is less functional (and less effective) now thanks in part to digital innovation and changes in the healthcare marketplace. While the teams may still be separate, both have an equal place at the strategic table – and should be gathering around it much more frequently than once a year.
Traditional healthcare sales and marketing efforts – cemented around in-person physician calls, bulk print collateral and tradeshow appearances – may still be somewhat effective in select scenarios, but offer sloth-like insights and results. MedTech companies that integrate digital strategies, in turn, can more nimbly gauge audience interest and demand, measure adoption and, ultimately, better predict growth. Not only that, digital strategies are often more cost-effective than traditional channels, which historically required a large, widespread sales force and significant investment in collateral, travel and media.
All of that data – generated more quickly and more accurately than ever before through digital channels – should be regularly evaluated and applied to strategic decision-making at the organizational level. To do so effectively, medical device and other B2B healthcare companies should implement more frequent strategic planning efforts. Typically, we recommend 6-month or quarterly strategic planning for Jairus clients, which provides an opportunity to evaluate growth and key marketing metrics, review market shifts and organizational changes, and re-align priorities for all teams based on those factors. These conversations also shine a bright light on efforts that are less effective, allowing companies and marketing partners to pivot resources quickly to more successful channels.
Interested in learning more about strategic planning or how Jairus partners with MedTech companies to improve sales and marketing outreach? Let us know.
Trying to find better ways to inspire engagement with your brand?
Remember this simple fact: no one wants to be told what to do.
In other words, your target audience does not want to be pushed towards contacting you — they want to be pulled. The most effective marketing strategies in the healthcare industry are the ones that make such a strong case for your brand that physicians and clinical decision-makers can’t help but learn more or schedule a demo.
A good way to understand this is to put yourself in the shoes of the provider. They care immensely about personal relationships, as these drive the business necessary to improve patient care and grow revenue. So, if you’re pushing content to your audience in an impersonal and not entirely relevant way, they’ll reject what you have to offer.
Formula for Pulling in Leads
The first step is characterizing your value propositions, possible objections, and the sales process. Be aware of how each element can and will affect provider interest. Identify your ideal customers so you know exactly who to target and how to address their specific needs.
The next step is building assets that take these factors into account. Capitalize on the overlap between provider pain points and your value propositions — this is your best opportunity to generate and convert leads. Decision-makers want to know exactly how your technology will improve their practices. A better practice means higher patient satisfaction, which ultimately leads to greater success for the provider. This is part of the “pull” mentality — presenting interesting and engaging content that doesn’t force their hand. Prospects will spend more time learning about your brand after seeing assets that speak directly to their interests.
The third step is surrounding your audience with content on all relevant social media platforms and online channels. Reach providers in both professional and personal settings — the desire to improve their practices will be the same at home as in the hospital, office, or lab. Tie all social media platforms together so activity on one affects what they see on another, creating a hyper-personalized experience. This interactive digital conversation raises the chances of your prospects accepting calls-to-action.
The final step is following up when your audience engages. This step hinges on the ability to track which assets inspired each prospect to further interact with your company. Monitoring this information lets you see where each provider is in the buying process so you can tailor your assets to meet them where they are. Prospects who engage have clearly liked what they’ve seen so far, so the job of your sales team is to finish strong and convert that interest into a sale.
Set Your Sales Team Up for Success
Center your digital marketing strategies around pulling in leads, but focus your sales efforts on pushing those leads to a sale. After your marketing team qualifies leads and fills the pipeline with strong prospects, your sales reps can take charge and hone in on converting leads to customers.
Empower your sales team by sharing which value propositions (and their corresponding pain points) motivated each prospective client to reach out. When sales reps can dial in on what each provider specifically cares about, their conversations are much more fruitful. Equipping your reps with this information means greater success moving prospects through the sales funnel.
Creating a personal and relevant buying experience lets your audience know that you care about their needs and want to help them succeed.
Pull in qualified leads who are ready to buy. Jairus can help you implement “pull” tactics to attract warm leads primed for productive sales conversations.
Healthcare business practices have evolved. Face-to-face interaction is no longer the leading sales tactic, and MedTech companies must adapt to the reality of unreachable decision-makers. With stagnant sales pipelines and restricted access to countless providers, healthcare innovators are scrambling to find new ways to generate leads.
Digital Opens Doors
Digital marketing paves the way for MedTech companies to get back in front of decision-makers. A recent survey found that over the past five years, digital marketing increased by over 60% in the healthcare industry, with digital taking up 40% of MedTech marketing budgets.1
As healthcare marketing moves online, the next step for MedTech companies is rededicating resources to inside sales growth. However, successfully using digital channels may require extensive internal changes.
Before diving into the “how” of digital outreach, take the time to ask yourself these questions:
How are your sales team, marketing team, and sales operations team working together to drive revenue for your company?
How are you creating opportunities and nurturing leads?
How are you converting prospects?
Your answers will reveal which strategies are digital-ready — and which aren’t.
Rethinking Sales and Marketing
Despite the history of bad blood between sales and marketing, these two entities must be aligned for a successful move to digital.
The goal is to get prospects to later stages of the sales process with the least amount of time and effort. Start by giving your marketing team the front-end functions of the buying process. Marketing — not sales — is best at generating demand and building awareness for your brand. This way, your sales team isn’t responsible for the jobs they don’t want to be doing anyway, like cold calling, and your reps are supplied with prospects who are ready to buy. With just a small number of people who can say “yes” to your company, it’s in your best interest to set your reps up for success before sales conversations.
Measuring Your Success
Assess the progress of your sales and marketing integration with the following metrics:
Length of your active sales cycle
Percentage of new customers who independently accessed marketing materials before or during the sales process
Number of sales-qualified opportunities active in your pipeline
That last metric is a critical measurement of success. A notable advantage of digital marketing is qualifying leads ahead of time. Instead of wasting time and resources on prospects who aren’t really interested in your technology, send your sales team warm leads who are more or less ready to buy.
Achieve this with an omnichannel digital marketing strategy. Develop ads that build brand awareness and trust in your expertise, and embed links to various assets–downloadable content, landing pages, videos, etc. After launching these ads on a number of social media platforms and online channels, follow up with email retargeting to give prospects every opportunity to engage. The final piece is trackable data that shows which assets succeeded in prompting a sales conversation. Prepare your sales reps with this valuable information so they can be more persuasive and help prospects feel confident in their buying decisions.
Although COVID limited access to decision-makers, you can still get in front of your prospects in a way that is both compelling and efficient. Set your company up for success by integrating your marketing and sales efforts before you make the move to digital. Use the strengths of each team to help the other succeed, which in turn will help the entire company gain traction in the new era of post-pandemic sales.
