According to a McKinsey report “Healthtech in the Fast Lane,” digital health represented a global market of approximately $350 billion as of 2019. Since then, the industry has been on a steady upward trajectory. As a March 2023 Deloitte article states, “The median health tech deal in 2022 fetched a valuation of more than US$57 million, which was substantially higher than the 2021 median (US$33.9 million) and that of years prior.”
Healthcare technology companies are constantly entering the market while existing providers seek opportunities to broaden their footprints.
Even healthcare tech companies with outstanding products can find it hard to break out from the crowd. So how do you connect with prospects and then build trust and nurture them to convert? In a word, content.
Healthcare Marketing Facts You Should Know
HIMSS Media's health information and technology content marketing research found that 90% of buyers in the healthcare IT sector struggle to find high-quality, trusted content to inform their decisions.
Seventy-five percent of these decision-makers want more healthcare industry perspectives, 66% seek trusted and independent sources, and 65% prefer stories on how others benefit from a product. Additionally, 65% are turned off by marketing hype and empty buzzwords, and 53% are bothered by overly sales-focused content.
Meanwhile, the long sales cycle in the healthcare industry means marketers must stay top of mind via multiple touchpoints over an extended period, with a strategy to nurture potential buyers and address their concerns throughout the buying journey.
Why Content Strategy is Key to Your Healthcare Marketing Plan
Considering the healthcare marketing facts above, no wonder more marketers now turn to content marketing to nurture healthcare marketing leads. Here's how healthcare content marketing can position your brand favorably and turn prospects into customers.
1. Achieve thought leadership positioning with valuable content.
Healthcare B2B buyers seek trusted industry perspectives to help them stay current with trends and new technologies. Publishing high-value content to share unique ideas and insights can position your executives as thought leaders and your brand as a valuable resource to stand out in the marketplace.
Identify topics relevant and valuable for your key audiences. You may survey their customers to collect data and generate insights to demonstrate that you understand their needs, preferences, and challenges while positioning your brand as their ally.
Consider what your audience wants to learn about their customers to craft your survey questions. Then, analyze the data through the lens of your audience and tie the insights back to your products or services to build awareness about your solutions (but don't turn it into an ad!)
2. Build trust and credibility with your target audience.
Establishing your brand's credibility and building trust with your audience can help accelerate the long and complex healthcare technology buying cycle.Healthcare content marketing can help you demonstrate the expertise and people behind your products. Additionally, it can boost your long-term SEO.
For example, adding videos to your healthcare marketing planhelps highlight your team's knowledge while making your brand more relatable. You may leverage social media to have two-way conversations with your followers and answer their questions or publish articles on reputable industry websites to reach new, high-quality prospects.
Additionally, implement an SEO strategy to improve visibility on relevant search results so your target audience will associate the topic with your brand. You can also implement local SEO tactics to attract search traffic and generate long-term healthcare marketing leads.
3. Nurture healthcare marketing leads throughout a long buying cycle.
Research from HIMSS Media found that the average buying cycle for healthcare technology purchases is around twelve months. Meanwhile, nine individual contributors are involved in a typical purchasing decision, often at different times and stages of the buying journey.
Different functional teams will weigh in on compliance, security, medical utility, technical compatibility, and other aspects. Marketers must address these concerns and requirements at the right place and at the right time for the right audience.
Healthcare content marketingprovides the framework and opportunity to help you reach various stakeholders and address their questions through multiple campaigns, touchpoints, and channels during the intense research process. It enables you to keep your audience engaged and your brand top of mind throughout the lengthy and complex sales cycles.
4. Address different decision-makers across multiple buying stages.
Various stakeholders in the buying team have different priorities and concerns. For example, a CIO may want to know how your products integrate with the organization's tech stack, and the CFO may be more concerned about the financial implication of investing in your solution.
A robust healthcare content marketing strategy can help you address different buyer personas' questions and concerns and fill messaging gaps at various buying stages (i.e., awareness, consideration, and decision) with targeted information.
Additionally, your content should support the broader marketing efforts across your entire website and across the buyer's journey. For example, blog posts addressing audiences in the awareness stage can prime the readers to see your product favorably when they reach the consideration and decision stages.
5. Build emotional connections by humanizing your brand.
Any B2B marketer must remember that they're not marketing to titles, functions, leads, accounts, organizations, or verticals. You're communicating to individuals — emotions play a role in their decision-making process, and they're more likely to buy from brands relatable to them.
A healthcare content marketingstrategy can help you add a human element to bring your brand to life, connect with the audience emotionally, and show the readers how you share their vision of elevating healthcare using technology.
Good storytelling (e.g., case studies and testimonials) can draw the audience in and make your product's impact memorable. The HIMSS Media research found that powerful narratives of how solutions help people, save lives, avoid live-altering medical expenses, support communities, and enable discoveries are effective in inspiring and engaging readers.
Leverage the Power of Content in Your Healthcare Marketing Plan
A robust healthcare content marketing strategy can help you reach and nurture high-quality healthcare marketing leads to convert them into loyal customers. But navigating the nuances, implementing the latest best practices, and coordinating all the moving parts is challenging.
The good news is that you don't have to go it alone.
At Spot On, we help healthcare tech companies develop effective content marketing strategies. Book a meeting to see how we can help you design a healthcare marketing plan and produce content that resonates with your audience, build trust, and drive conversions.