For decades, medtech companies leaned heavily on relationship marketing, with sales reps playing a larger role in the marketing process than they do for most other B2B marketers. Healthcare professionals (HCPs) were hard to reach any other way. Since the COVID-19 pandemic, however, HCPs have embraced digital communications in a way they haven’t in the past.
In response to the shift, medtech companies have shifted to an omnichannel marketing model that allows their customers to access information when—and how—they want it, according to McKinsey. And for good reason: medtech marketers can achieve a higher ROI and generate higher-quality leads by using B2B marketing strategies including research, planning, and targeted campaigns.
How Targeted & Digital Marketing Works for Medtech
Target marketing helps your organization focus on a clear vision; uses data to inform, design, and execute strategic campaigns; and builds connections and trust with your audience. Bottom line? A targeted marketing approach yields more—and more highly qualified—leads and conversions.
Examples of targeted digital marketing include digital ads targeted to reach specific prospects; targeted email campaigns crafted to speak to specific audiences; and social media campaigns that meet your prospective customers where they are. Combining market research data, buyer personas, and clear messaging, targeted medtech marketing lets you address each audience segment’s specific needs and behaviors.
Higher ROI
Targeted marketing strategies typically cost less and bring in more highly qualified leads than a scattershot approach. By developing a plan and allocating budget dollars strategically, your ability to maximize your marketing ROI improves. In a McKinsey study, more than 90% of surveyed medtech companies reported that increased digital spending improved the success of their marketing programs by 10% or more, in the form of higher ROI.
Better Leads
Qualified leads keep your sales force from wasting their time. And conversions from qualified leads generally produce bigger sales and are more likely to bring in high-quality referrals. Targeted marketing, by its very nature, is designed to generate dozens of highly qualified leads over hundreds of unqualified leads, making the sales process easier and maximizing ROI.
Marketing Strategies for Medtech
Medtech Market Research
Market research uses primary and secondary research to understand your customers’ motivations, preferences, needs, and behavior. Primary research requires going directly to the source: think focus groups of medtech buyers or surveys of your current customers. Secondary research involves reviewing publicly available data including white papers, articles, competitor and prospect websites, social media, and the like.
One invaluable end-product of market research is the buyer persona. At Revel, we help medical device manufacturers and other medtech companies create buyer personas that provide a deep understanding of your audience segments, enabling you to tailor your message to each one. Want help conducting your market research? Drop us a line!
Marketing Communication Planning
Did you know that marketers with a documented strategy are 313% more likely to report success than those without a plan? Investing in strategic marketing yields returns that can yield, among other things, more qualified leads, higher sales, and increased revenue. By determining which tactics have the highest potential to succeed at targeting clinics, hospitals, and other target customers, your plan ensures you’re making the most of your medtech marketing budget.
A strategic marketing communication plan supports business objectives by documenting the results of primary and secondary research, specifying the direction to head (strategies), and outlining steps to get there (tactics). Your marketing plan should include specific strategies and tactics, branding, and including measurements for determining success.
Marketing Campaigns for Medtech
A comprehensive marketing plan will include external messaging tactics (e.g., branding, website, email campaign) and channels that will most effectively reach the target audience. While there are countless types of marketing campaigns to choose from, it’s critical to consider what kind of campaign will best meet each of your specific goals.
As an experienced medtech marketing agency, Revel tailors medtech B2B marketing campaigns to meet your objectives, knowing that not every type of campaign is appropriate for every goal. A campaign for employee recruitment will require different strategies and tactics than a product launch campaign, for example. Our step-by-step process ensures that every medtech marketing campaign is tailored to meet its objectives.
Traditional Targeted Media
Traditional targeted marketing like trade show promotions still has a place in your medtech marketing plan. Trade show attendance offers a unique opportunity to gather intel on competitors, identify industry trends, and develop or strengthen relationships with vendors and customers. Maximize your trade show ROI with targeted pre- and post-show messaging. Before the show, encourage key prospects to set up an appointment with a sales rep during the show; afterward, follow up to keep qualified leads engaged.
While less popular than it once was, direct mail can still play a role in B2B medtech marketing. The very fact that direct mail is used less frequently can make it a viable option for getting the attention of high-value prospects.
Targeted Digital Marketing
Targeted digital marketing allows you to reach audience segments with messages tailored just for them. Using the data you collected through market research, it’s time to implement your plan with tactics including targeted digital ads, social media posts, videos, blogs, content marketing, email campaigns, and other options for generating qualified leads. A medtech marketing agency like Revel can help you determine—and execute— the best tactics to achieve specific business goals.
By presenting tailored content to specific audience segments in formats that resonate with them, medtech marketers can build trust, personal connections, and brand loyalty that drives leads and sales. Want to be sure your message is getting through? Analytics tools enable you to be sure you’re getting the largest possible ROI out of your digital marketing efforts.
Make Your Marketing Strategy Go Farther
Want help generating qualified leads and achieving a higher marketing ROI? As a B2B marketing agency specializing in medtech marketing, Revel makes the perfect partner. Contact us today to develop a medtech B2B marketing program that will generate qualified leads and reach more hospital and clinic customers.
