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B2B healthcare marketing is one of the most sensitive forms of B2B marketing since it deals with human life directly. Any product can indeed be responsible for human life, but when it comes to the healthcare industry, one believes that it directly affects humanity in terms of health. Conglomerates might get into trouble with even the slightest mistakes and face consequences in a massive form.
On top of that, progress must be achieved for humanity to strive forward. It is for this reason that one cannot blame the healthcare industry to be booming. How does a customer get the best out of the boom? Here are six keys for increasing your market share in B2B healthcare marketing.
Six Keys to Increase Your Market Share in B2B Healthcare Marketing
Let’s take a moment to soak in how massive B2B healthcare is. In 2017, the global healthcare revenue was $196.3 billion. Analysts predict this number will reach $536.6 billion by the end of 2025. It needs just as tremendous an amount of care. With all the competitiveness in the world, let’s look at how you can improve your market share in B2B healthcare marketing.
1. Become Laser Focused To Identify Your Customers of Highest Importance
Who is your ideal customer? Their identification must be done. Develop a “buyer persona” in your mind. Sketch out your potential customer. Anticipate the challenges this customer might bring to the table. Think about how you would deal with these challenges. What are you marketing to this customer? Pharmaceuticals? Hospital equipment? Healthcare services? Hospital-to-hospital collaborations? Chalk out a detailed plan on approach, discussion, and closing the lead for this customer.
Before setting up a meeting, research your client. Dig into the internet. Learn about their business. Do they have a chain of hospitals? What services do they offer? What would they require? Answer these questions and plan your next step.
Who might these buyer personas be? Essentially, there are three chief buyer personas:
a) Decision-Makers at Healthcare Systems and Hospitals: These people can purchase your product(s)/services. They must be targeted when dealing with significant trades. Since they might not have direct hospital-related duties, they would have more time for discussion relating to purchasing.
b) Executives at Clinical Research Organizations (CROs) and Sponsorship Organizations: These executives will have various needs for clinical trials. They are a good audience for marketers. These CRO and sponsorship organization executives are often concerned with reducing costs and increasing enrollment and efficiency. If you know how to market to these targets effectively, you can convert them into customers.
c) Chief Physicians and Clinicians: These personnel might not be regarded as decision-makers externally, but they might be able to use their weight to convince the actual decision-makers. Many organizations value the voice of their senior physicians and clinicians; thus, they contribute to the organization’s progress.
Remember that each buyer persona is an individual entity. Customizing to their needs will bring them more satisfaction. They might even become a long-term customer!
2. Understand the Purchase Process of Your Customer
Now, you have created the buyer persona. It is time to get to know their purchase process. Ideally, a customer has three steps to make a purchase decision. Let’s look at them closely:
a) Awareness: The customer is aware of their requirements. You are helping them realize the problem and its solution, i.e., by doing business with you.
b) Consideration: Make the potential customer aware of alternate solutions to the problem as well. This way, they don’t feel you are forcing them to accept your offer. They feel like they have the power to choose you.
c) Decision: You have reached the closing stage of the purchase process. You must tread very carefully here. Highlight how your product/service is unique and how it will serve your client’s needs. Make them know how it is the apt solution to their problem.
Not all customers have a linear journey. A marketer must constantly follow up with the prospect to deal with non-linear buying journeys. Effective communication is significant for an effective result, i.e., a closing deal.
3. Influence Using High-Quality Content
Just like you learn about your customers, they will research you, too. You need to preplan this step. Ensure that the content on your website or any other social media site is of the highest quality. Interactive and responsive content would also help a prospective client. Create suitable blog posts, videos, infographics, social media posts, articles, webinars, case studies, and other necessary content. Try to post fresh content showcasing your activeness in the market consistently. By doing so, they feel connected with you and your brand.
Content should not be of only a single track. Human beings have several variables governing their life. Have a wide variety of content available for your potential customers. Feeding to their interests will engage them into associating with you.
Gaining trust is another aspect that content can provide. By showcasing the presentation of your product/service, your prospect will feel more comfortable choosing you over your competitors. Highlight the positive responses you have received so far, and be sure to communicate the statistics in a way they can relate to.
4. Stay Informed Regarding Your Industry
Being up-to-date is very important to beat the competition. Be constantly alert about the latest trends in healthcare. The latest technologies and surveys would help produce better results in healthcare. Be aware of the emerging businesses and the market share statistics. Attend workshops, seminars, and other social events to expand your knowledge base. When you work in B2B healthcare marketing, you should be willing to adapt to emerging industry knowledge.
It would be best if you were up-to-date with technologies generally used in marketing. Being in touch with techniques working for revolutionaries might help you, too. Use tools and techniques to avail of the maximum advantage.
Healthcare providers are getting closer to customers, and customers, in turn, can access more information regarding healthcare. Customers want and would like to have the product(s) / service(s) advancing just as fast as advancing technology. A planned medical device marketing strategy is the need of the hour for marketers.
5. Search Engine Optimization (SEO)
SEO has become a mantra for all marketers—optimizing content is the best way to use it. Optimization is vital if you want your organization to be at the top of the search results. Conduct exhaustive research regarding keywords used more in your industry. Learn the ways of utilizing them. Having too few keywords in content might not lead to more clicks. Having too many might bore your prospective customer. Finding the “just right” amount is the key to SEO.
Optimization should be organic. Use keywords naturally in your content so that readability isn’t compromised. Customers who review your content shouldn’t be bombarded with unnecessary keywords.
Use local SEO tactics. Ensure that NAP (name, address, and phone number) is consistent throughout. For example, if a client wants to contact your organization via a webpage, ensure you provide them with working contact information. You can thus reduce frustration and increase faith in your potential customers.
6. Nurture Potential Leads
The final step to close the lead might be long but crucial. Many prospects need more convincing after the first meeting. Now, it all boils down to the activeness of your teams. The marketing team is in charge of being in touch with the lead. They can ensure this via phone, email, or even by using social media to their benefit. Creative ways to close the deal are how the sales team comes into the picture. But it would help if you did not pressurize your prospect. Too much is always too bad. Optimization is necessary to ensure your lead is well-informed and not kept out of the loop. Ensure your content is up-to-date so your prospect knows you mean business.
Create multiple touchpoints with your prospects. If you cannot conduct face-to-face meetings with them due to busy schedules, see if you can contact them through paid traditional or digital advertising. Once a prospect feels comfortable with you, they might also warm up to what your brand offers.
Using a hybrid approach would help the process twofold. This way, the prospect gets the human connection and can access digital information when time permits. You ease the mind of a busy customer and, as a marketer, can be contented with the viewership. Both online and offline efforts need to be made for progress.
Marketing can only be done with planning. Extreme planning is the best way to go for B2B healthcare marketing. Follow the mentioned steps to increase your market share. These steps will bring out the best for you and your business. Remember to focus on the buyer persona, understand your clients’ purchase process, generate high-quality content, be informed about the latest trends in healthcare, and optimize and nurture your existing and potential customers. These are all necessary for you to increase your market share.
You’re not done in just one shot. Stay consistent. Stay connected. Keep looking for new avenues for growth. B2B is an intense business model. Having more hands on deck would be best to reach your best potential. Concentrate on showcasing your best to potential customers, and you are good to go.