Just about every marketer is familiar with the sales funnel, a graphic used to depict the buyer’s journey from first discovery to final sale. The funnel is wider at the top to represent all the people that you’ve introduced to your company through activities like brand awareness campaigns. In the middle, you are able to identify who of that initial population you could persuade to consider doing business with you. At the bottom of the funnel is the percentage that converts from prospects to clients.
What may not be familiar to you is how to match marketing activities with those different levels of the sales funnel — particularly which activities will get people into the funnel in the first place.
Big data is increasingly available and used by MedTech and other healthcare businesses in new market development and related marketing and sales strategies.
Data-driven marketing is not new, but is gaining rapidly in popular application. However, data application for use by sales teams, particularly in new market development, is adopted less frequently and at a slower rate, and that translates to missed opportunities.
Below are some guidelines for new market development strategies and tactics that incorporate a symbiotic approach involving both marketing and sales.
If you sell medical technology products to doctors you already know the importance of physician education goes much deeper than a simple presentation and discussion of product features and benefits.
Whether your medical technology is specifically sold to and used by primary care providers (PCPs), medical specialists, or both, the PCP should be the target audience for education about your technology.
Yet many MedTech companies whose products are intended for use by medical specialists put limited or no resources toward educating PCPs on their products. It may be understandable, but it’s also shortsighted.
When you market solutions and services to the healthcare industry, it’s easy to pick up a lot of terminology that you may even use in your marketing content, but have you ever wondered what those acronyms your healthcare clients use in their everyday conversations really mean?
CPT code is a prime example. You may have seen “CPT” if your solution involves a part of the medical billing procedure — or you may have noticed it on your own medical bills, or Explanation of Benefits statement.
If you’re like most busy healthcare marketers, it can be a challenge to stay on top of news and trends that help keep your campaigns and messaging perfectly on point. Fortunately, you don’t have to go it alone.
Here are nine healthcare marketing blogs to follow, whether you’re looking for how-to’s, tips, industry insights, or just inspiration to help you move past writer’s block.
After you have had a chance to review our list of best content, be sure to leave a comment with your favorite healthcare or marketing blog that didn't make our list.
It seems like almost every large MedTech company has climbed on the big data bandwagon in an effort to drive more effective and targeted marketing to physicians and sales activities.
Big data for precise targeting is, in fact, one of the most powerful tools in the arsenal of both marketing and sales teams when they have access to it and know how to mine, analyze, and use it.
However, there are a number of challenges and inequities that separate the organizations that can track a direct, positive correlation between use of data and increased sales from the ones that can’t or don’t leverage this kind of data and analytics for more accurate targeting, such as:
Medical technology continues to evolve rapidly as MedTech companies become even more integral in a wide range of healthcare settings. Here are some current trends that can be expected to accelerate through 2018 and into 2019.