Established Leaders

New Medical Device Growth Strategy Ideas to Increase Revenue

Leading an upcoming medical device company into growth is a tall order. The typical way of attaining growth is to pump cash right into traditional advertising and marketing to a huge target market, hoping to get at least a few bites. This uses up many resources and does not have a high enough return on investment. Hence it’s not a great medical device growth strategy.

Inbound is a novel, innovative way to approach marketing and sales. Inbound involves bringing in and nurturing leads with content based on their interests, objectives, and difficulties. According to a recent report on the state of Inbound by MIT, 68% of firms state that Inbound strategies have generated exponential growth!

Here are some Inbound medical device growth strategy to grow your medical device business:

Know your audience

To grow your business, you should have a clear understanding of what precisely you are targeting. Take some time to create Buyer Personas (imaginary depictions of your ideal customer). Exactly what is their job responsibility? What are their objectives? Exactly what are their difficulties? How do they make decisions? Where do they do their research? Getting the answers to these inquiries will make it easier for you to recognize what your target market is.

Develop a variety of content

Your leads are continually looking for details on various topics. Among the best ways to draw people in and engage them is by consistently releasing multiple forms of content that would interest them. This could be anything from blog posts, infographics, and brief video clips to white papers, webinars, books, and reports. Expanding your content will help you to get to a broader target market and increase your conversion rates. You could ask your marketing group to produce a content schedule that will help you to prepare your content on a monthly, weekly, or daily basis. This will allow your content to be both consistent and targeted. Hubspot found that B2B marketing professionals that utilize blog sites generate 67% more leads than those that do not.

Apply SEO techniques

Optimizing your website for search engines will enhance your position and make it less complicated for potential customers to discover your company online. The first step is to discover which keyword phrases and expressions your potential customers are making use of when browsing online. Devices such as Google Keyword Planner can be handy for keyword research study. You could also work with your marketing and sales teams to research keyword phrases that your audience are searching for online. When you have a competent keyword database, your content designers could place the search phrases in page titles, headers, image names, image alt texts, URLs, and website content. Various other points that could help with SEO are backlinks, external linking, and internal linking.

Position solid Calls-to-action

A call-to-action (CTA) is a text link or clickable button that urges potential consumers to take a specific action. This can be buying a product, sharing your content, or joining your newsletter. Your content developers and marketing experts can make use of CTAs that provoke interest in your potential customers such as ‘Download the free eBook now.’ An efficient CTA must also promote a sense of necessity (e.g. ‘Buy today!’). To make your CTA stand out, your website developers should make the color of the button contrast with the color theme of your site.

Write for authority websites

Getting your content to be released on popular and highly regarded websites will develop you as an authority in the medical device market and will bring in even more web traffic to your firm’s site. So just how do you pick the websites to write for? Search for websites that cover the same topics that you do. If you have a medical device site, it wouldn’t make sense to write a guest post for a fashion site. The websites that you write for need to also have a solid Domain Authority (DA), an excellent track record, and lively visitor engagement. Look at the comment area of existing articles to figure out if people are sharing the posts and leaving comments. The more involved the target market, the more influence your guest post will have. Lastly, find out if the site that you want to write for allows backlinks to your site in the content or writer biography. Backlinks from an authority site will enhance your search engine ranking dramatically.

Share content on social media

It’s inadequate just to have engaging content on your website. The advertising of your content needs to be done right to generate web traffic. Social media websites such as Facebook, LinkedIn, Instagram, Twitter, and Google+ can be effective platforms for advertising your content. Make sure to share all blog posts on your firm’s site on the social media platforms that you interact with. If your fans or followers find the content to be beneficial, they find see your site, and share what they found with their community. This means that you get even more brand name awareness and a higher volume of traffic to your site. According to a Social Media Marketing Industry Report, 90% of all marketing experts showed that their social media initiatives had generated more direct exposure for their organizations.

Nurture leads responsibly

Email marketing is an extremely effective method of nurturing leads right until they convert into clients. All you need to do is offer leads freemium content like e-books or reports for their contact info. As soon as you’ve constructed your newsletter, you could send your customers e-newsletters with relevant content regularly. Offering exclusive content to your email subscribers will make them feel valued and will inspire loyalty. Doing this can provide a boost to the number of sales that your team will close. A study by McKinsey exposed that email is 40 times more effective at transforming leads into new customers compared to Facebook or Twitter.

The final word

All the strategies discussed above are elements of what is known as the Inbound Methodology. A handful of firms in different sectors have begun to use this innovative collection of marketing, sales and medical device growth strategy and have been met with resounding success – and the medical device sector is no exception.

We’ve aided several CEOs and Managing Directors execute a successful Inbound strategy. Don’t hesitate to schedule your free strategy session now! We can help you analyze your assets and offer you invaluable insights and how your company can grow faster!

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