Last updated on June 20th, 2023 at 09:52 am
According to the Centers of Medicare and Medicaid Services, statistics on healthcare spending reveal that Americans are generating up to $4 trillion dollars in paying for health services each year. Knowing this staggering figure, many marketers focus their efforts on helping healthcare providers and suppliers with the services and products they need to meet patient demands. However, B2B marketing in the healthcare industry can be a tough nut to crack.
The irony is that while the medical and healthcare industry is one of the most lucrative sectors to market to; it can also be one of the most stonewalled industries when it comes to landing sales for independent B2B marketers. Whether you are a veteran or new to business-to-business marketing in the medical field, here are a few tips that can improve your results.
Understand the Industry
While you don’t have to have a PhD to successfully boost your B2B marketing in the healthcare industry, having knowledge of the field can certainly up your game. Research the healthcare sector you wish to target and learn as much as possible about this arena of health and medicine. The more informed you are about the work that is done by the health associations, medical professionals and institutions you are selling to, the better you increase your odds of successfully landing clients.
Additionally, keep on top of trends and innovations in the healthcare industry. This will help you better relate to who you are marketing to. For example, if you are a B2B marketer for medical supplies, research your target market about your industry. Ask questions from other leading B2B marketers in the healthcare industry. Explore trends so you can better predict what your clients will require in the next fiscal year. This is known as anticipating your client’s needs, and it’s remarkably effective at boosting your marketing results.
Market to Physicians
B2B marketing to physicians can be a challenge, but if you can get your foot in the door, your efforts can really pay off. To explain, physicians control about 80% of healthcare spending in the US, according to a Reuters healthcare market trend study. With that kind of influence, physicians are an obvious target to market to.
However, doctors are notoriously difficult to take the marketing bait from representatives they are unfamiliar with. The reasons for this are many. Chiefly, physicians tend to be incredibly skeptical when it comes to new vendors.
Why? Consider this, most physicians spend a decade or more earning their credentials through education, MCAT prep, certifications, internships, residencies and more. In other words, doctors endure a long and hard road to earn their pedigree. As such, they are often trained to be incredibly shrewd and even skeptical – especially when it comes to marketing reps they either don’t know or don’t have time for. You’ll need to build trust with physicians in order to convince them about the value of your service or products.
You can do this by delivering a well-researched pitch with backup documentation and loads of proof as to why your product or service outshines all the rest. Remember that most doctors spend their entire careers scrutinizing options and details. Therefore, you should prepare before you attempt to sell to them. A thorough, well-organized and well-documented sales pitch is critical when you are marketing to physicians.
Get Your Word Out
If you are an independent B2B marketer in the healthcare industry, you need to take a hard look at your website. Make sure you provide potential clients with quality content that is search engine optimized (SEO). Write articles about trends and educational topics about your niche in the medical field.
Publishing regular content that is valuable to your potential clients does three things: 1) It shows you care, 2) It proves you are on-point with market trends and 3) It will get the word out about your products or services.
In other words, when a physician or medical institution does research on a quality provider of supplies or services, they need to see you in their searches. This is achieved by adding quality, on-page SEO articles on your website that make you visible and relevant to potential clients.
The Last Word on Making Your Mark in B2B Healthcare Marketing
B2B marketing in the healthcare industry isn’t always easy. It’s a tremendously fast-paced market that is heavily regulated. Furthermore, your end-clients will typically be highly skilled and discerning leaders in their field. Therefore, the more prepared you are, the better chances you have to land that lucrative account you so deeply want for your portfolio (and your pocketbook).
That’s why it’s crucial to do your research. Know your niche in the industry and familiarize yourself with the medical professionals you are dealing with. Taking these key steps will go a long way towards boosting your B2B marketing success in the healthcare industry.