Startup Leaders

7 Medical Device Growth Hacks to Quickly Scale Up

Has your medical device service been stagnating? If so, perhaps it is time to begin trying to find a way to scale your business to the next level. This article discuss a few medical device growth hacks that you can use to begin scaling your medical device firm.

If you have not heard of the term ‘growth hacking’ yet, it’s a brand-new collection of techniques helps companies grow and gives them an edge on the competition. While techniques like posting viral cat videos is one way to try to grow, we’re thinking of techniques that will be more applicable to your B2B medical device business. One effective collection of development hacks consists of the recognition of an optimal prospect and the production of content to guide them through the journey to be a content customer. Sound like a dream? It isn’t. This collection of techniques is called Inbound Marketing and Sales.

Inbound marketing and sales tactics have been verified to be particularly effective in scaling businesses. In a study by Hubspot, 59% of online marketers reported that Inbound marketing produced better leads compared to typical marketing, and 61% less expensive than outbound channels! This implies that standard marketing and sales approaches like paid marketing, cold calls, website promotion, trade shows and conferences, and purchased email lists are becoming inefficient means for scaling sales.

Here are a few medical device growth hacks that you can use to begin scaling your medical device firm making use of the Inbound Methodology:

Identify your ideal customers

One of the most critical steps to scaling your organization is to determine the ideal customer that you want to get to. Establishing precisely who you are targeting will help you to customize your content appropriately. When deciding the qualities of your ideal customer, typically described as a ‘buyer persona’, consider their job responsibilities, objectives, obstacles that they face, and their decision-making process. You could get this information by visiting forums that you ideal buyers may frequent, by conducting a study of your target market, or perhaps by jumping on a telephone call with existing clients that fit that persona. When you have collected all of the information you need to create the personality, give a nickname like ‘Medical Director Doris’ or ‘Clinician Clement’ to your persona.

Create targeted content

Take the time to release regular content that helps to resolve the typical problems and inquiries that your buyer personas run into. Text-based content such as blog posts, case studies, white papers, and ebooks can be reliable means by which you can provide info. Engaging titles optimized with keyword phrases that enhance your content for the internet search engine will undoubtedly get the attention of your target audience. See to it your content production group steers clear of using excessive medical device lingo. Having content with too many technical terms can make your content hard to read. According to research done by Hubspot, ‘Visual content is 40X more likely to get shared on social media than other types of content’. For that reason, your content strategy should include both aesthetic content, such as infographics and video clips, and text-based content like blog posts and ebooks.

Nurture your leads

Just generating leads is insufficient for scaling your medical device business. You should nurture your leads using the 4 phases of the buyer’s trip as reference: Attract, Convert, Close and Delight. After a prospect provides their contact info for a premium offer, they are converted into a lead. Plan a lead nurturing campaign with your marketing and sales team to offer subscribers practical info and advice through email. After a lead makes a buying decision and the deal is closed, continue to delight your new customer with even more quality content. Creating solid connections with your clients will probably turn your them into evangelists of your brand. They will share your content with their fans, bringing in even more leads to your site.

Automate your processes

As your business grows, it will be more and more challenging to engage your customers individually. For efficiency’s sake, you should consider switching from a manual system to an automated one. You can make use of automation software to both collect contacts and send out personalized emails to your leads. These services can be set up so that the minute a person submits their contact info to your website a customized welcome email can be sent to them. Using this kind of automation software will make sure you can nurture prospects right until they become customers.

Leverage online reviews

According to a study conducted by Search Engine Land, 72% of customers see online reviews as significant as recommendations from colleagues. Swamping the net with favorable reviews can be an advantageous strategy for growing your organization. Such testimonials can be conveyed through case studies showing how your medical device business helped customers fix their problems. Refer to specific metrics that give a concrete measure to what you have accomplished. For example, you can state that your customer reduced their customer acquisition cost by 50% in three months. You could make a testimonial page on your website where you can showcase brief reviews from different customers. Make sure to include both the name of the person and company that you helped and a picture of the person to assure viewers that the review is legit.

Utilize LinkedIn

Social Media Examiner found that 89% of B2B marketing professionals make use of LinkedIn. LinkedIn can help you to improve brand name recognition, generate leads, and even establish strategic partnerships. The first step is to develop a professional page for your business that showcases details about your company and what kind of solutions you offer. Optimize your page with keywords to make it easy for companies to find you. Make sure you include links to your company’s website on your LinkedIn page. Regularly release content on LinkedIn so that you keep your followers engaged with your profile. Your content needs to show product thought leadership, organizational thought leadership, and industry thought leadership. This will help you to both build trust with your followers and increase the chances of converting them into leads and buyers. You may also want to consider using paid advertising to ensure that your target market is seeing your content. LinkedIn Company Page Analytics will help you to track how your content is doing.

The Bottom Line

Scaling your medical device firm won’t happen overnight, but with the right medical device growth strategies, your company can gradually increase its ROI and customer base. The Inbound Methodology is an excellent collection of long-term strategies that will help you to reach your company objectives of scaling and development.

It’s daunting for even the best of marketing and sales teams to implement these strategies without some help. We’ve assisted many Management Directors and CEOs to grow their companies using the Inbound Methodology. Feel free to book your free strategy session now to help you evaluate your assets and gain valuable advice on how you can scale your B2B medical device company. We’re here to help!

free calculator
Check how much new revenue your type of company could generate with effective content.