If you read one of our recent blogs, you’d recall that digital communication is lagging in healthcare. Healthcare tends to lag behind on any technology that isn’t directly tied to increasing the ability to provide exceptional healthcare to patients.
As patients, we’re incredibly grateful for healthcare providers who strive to provide the best care possible. As marketers, however, we know the healthcare industry would benefit significantly from taking a more proactive approach to adopting new technology and strategies. The healthcare industry rarely implements a digital marketing strategy, and there are several reasons why it could benefit them.
Traditional Sales is Outdated (and Impossible Under COVID-19)
Most healthcare solutions still implement a traditional sales cycle to generate revenue. In this model, the sales team does all the work, from prospecting and selling to onboarding, support and administration.
Salespeople are expensive. Besides their base salary and commission, management likely has to figure in their expenses and benefits. It’s both cost- and time-inefficient for an experienced salesperson to spend their time prospecting. They should spend their time doing what they do best: selling. By bringing leads to your salespeople, you allow them to work more efficiently by closing deals and actually generating revenue. Read last week’s blog to learn more about how digital marketing increases the efficiency and success of your sales team.
Because these sales calls are typically conducted in-person, it’s become nearly impossible under stay-at-home orders due to COVID-19. Even as the country opens, many providers simply do not have time to speak with sales representatives. This is where digital marketing can be highly effective.
Digital Marketing Gets Your Foot in the Door
Because healthcare workers have little time to speak with a sales rep, digital marketing serves as an excellent way to overcome that barrier. Even people with little time on their hands find a few moments a day to look at social media or the news. This makes digital ad networks the ideal solution to capturing lead interest.
Advertisers are able to create highly targeted advertising campaigns that are designed from first to last touch to drive inbound leads. Because digital advertising is less costly than the average salesperson, paid channels can drive leads at a far lower cost. Special segmenting options, such as job titles, company industries, and specialized “lookalike audiences” allow your ad messaging to be highly relevant to the individuals you’re targeting.
By bringing healthcare solutions to prospects on the channels they frequent, it’s possible to begin educating them early, even encouraging them to learn more about your solution before they get on a sales call.
Inbound leads also close at far higher rates. According to Doyen Digital, inbound leads close at a 14.6% close rate, whereas outbound leads close at a rate of 1.7%. This is often due to the fact that an inbound lead has come to you for information, whereas an outbound lead may have absolutely no interest in your solution.
Digital Marketing Can Reduce Lead Acquisition Cost
Digital marketing is able to supplement, if not replace, much of the prospecting and selling phases. Driving inbound leads in a digital marketing funnel allows healthcare solutions to easily and cheaply educate their target audiences en masse, which can eliminate the prospecting and selling phase entirely.
The average salesperson spends 40% of their time calling prospects, 30% in sales conversations, 10% onboarding customers, 10% on customer care, and 10% on administration. Acquiring inbound leads from digital marketing channels frees up 40% off the rep’s time.
When well-targeted ad campaigns are paired with consistent messaging and a landing page that’s optimized for conversions, companies will see far more qualified prospects for a lower cost. A landing page with proper CRO will help educate a lead, further reducing the need for education which can speed up the sales process.
Digital Marketing Can Supplement Your Sales Efforts
By carefully coordinating with your sales team, digital marketing can supplement and enhance your sales team’s effectiveness (Read the anatomy of a modern sales and marketing team in our latest eBook). By targeting prospects who have already been reached by your sales team, digital marketing can help educate your prospects and show them how your solution can solve their business problems.
Sales and marketing should work closely with one another in the healthcare industry. It’s important to be careful when creating digital marketing campaigns to run alongside your sales efforts. The last thing you want to do is overwhelm a prospect and turn them off to your solution entirely. However, a well-executed digital marketing campaign can truly help relieve some of the burden from your sales team.
Why Should Healthcare Solutions Implement a Digital Marketing Strategy?
- In-person sales are outdated, costly, and difficult.
- Traditional sales methods are expensive. Digital marketing can reduce CAC.
- Healthcare workers have little time for sales calls, but digital marketing can reach them on the digital channels they frequent.
- Inbound digital marketing lets decision makers feel in-control, thoroughly research your solution, and reduce the time reps spend on opportunities.
- Digital marketing, when carefully executed, can supplement a sales team’s efforts.