The adage ‘it takes money to make money’ is very applicable when it comes to customer acquisition for healthcare technology company. You will need to make an investment in areas such as branding, promotion and marketing before making returns. This investment is especially high when using traditional marketing techniques such as print, trade shows, and ads. However, the good news is that you can lower the cost of customer acquisition health care technology by using Inbound Marketing strategies. Research by Weidert revealed that Inbound Marketing costs 61% less than traditional marketing.
Here are some steps for starting Inbound to lower the cost of customer acquisition health care:
Define your key audience
The first step to lower the cost of customer acquisition health care is to identify who exactly you want to sell to. Doing so will help you target your ideal buyers precisely and keep you from spending money on trying to reach people who may not have interest. Buyer Personas are fictional characters that represent such ideal customers that you want to target. For example, you could have ‘Clinician Calvin‘ or ‘Director Daniel‘. What are their responsibilities in the organization? What are their goals? What are their main challenges? A thorough understanding who your ideal buyers are will help you create a more effective strategy for reaching them.
Establish your marketing objectives
From the onset, you need to decide what exactly you want to achieve with your marketing efforts. For instance, if you decide that your objective is generating more qualified leads, all of your efforts should be directed towards marketing to a specific target audience, aka your buyer personas. Make sure your goals are SMART (specific, measurable, attainable, realistic and time-bound). For instance, generating 500 leads every quarter could be a more specific goal compared to simply generating more leads. It would be advisable to start small and increase your targets as you go along.
Strategize content creation
Creating educational content that your ideal buyers would love reading is the core of Inbound marketing. Once you’ve established specific marketing goals, you can start outlining a great content strategy. The content you create should be rich with valuable information to attract new visitors to your website and engage your existing leads. This will increase your brand recognition among both your new and old prospects. However, be careful not to ramble about your company! As awesome as your healthtech product or service is, you want to first build trust with your audience by providing relative information to the problems they’re experiencing rather than advertising your company to begin the process of lowering cost of customer acquisition health care.
Content could be anything from blog posts, social media posts and case studies, to eBooks, webinars, videos and whitepapers. Writing guest posts for other prestigious healthcare technology blogs can also be a very effective strategy for reaching a larger audience. To make it easier for prospects to find your content via the search engines, be sure to carry out Search Engine Optimization (SEO). Carry out some research to establish which popular, long-tail keywords are used when your ideal buyers are performing their online research. Include these keywords in your content URLs, headers, paragraphs, meta descriptions and image alt texts. This will push your website further up on search engines and increase your visibility.
Nurture your leads via marketing automation
Your prospects are most likely not ready to make a purchasing decision at first contact. They will need more time to consult others, ask questions and research all available options. Effective Email Lead Nurturing will help keep your prospects engaged until they are ready to make a purchasing decision. One of the best ways of doing this is through marketing automation. You can use CRM software such as Marketo or HubSpot to automate your email distribution and social media postings to the right audience at appropriate times. Marketing automation allows you to collect emails of your target audience and send them helpful information, like your weekly blog posts, on a regular basis. This will help your prospects keep your brand on their mind and enhance the chances of you making a sale.
Measure your results
You need to step back once in a while to evaluate how Inbound marketing is playing out for your healthtech company. A good analysis will give you an idea of which of your strategies are working and which ones are in need of improvement. There are numerous tools out there that can help monitor your performance. For instance, BuzzSumo will show you how many times your content got shared on different social media platforms. Google Analytics will help track metrics such as the number of website visitors and bounce rate. Services like Moz and Hubspot will help keep track of your SEO progress. Using your findings, you will be able to fine tune the Inbound marketing strategies to perfectly fit your healthcare technology company as a step towards lowering cost of customer acquisition health care.
The big conclusion
As an overseer of all operations, you may have easily bypassed the effects that traditional marketing has on your customer acquisition costs. These marketing tactics not only drain the money from your company but also drain the energy of your marketing team. However, with Inbound Methodology, you can attract the right people to your company and nurture them effortlessly until they convert to your own customers.
We’ve worked with many Presidents, CEOs, and Directors to implement Inbound strategies with their marketing and sales teams. You can request a free strategy session now to help you evaluate your assets and get free insights and suggestions to lower your customer acquisition costs!