Account-Based Marketing in Healthcare
Marketing any business can be time-consuming and challenging, but account-based marketing can bring extremely valuable returns on investment in the healthcare space. With this strategy, companies can simplify the buying process, create a personalized experience, and replicate the patterns of success they see within the industry.
If your business has been considering the best use of advertising dollars for a better return on investment, account-based marketing might be just what you are searching for.
What Is Account-Based Marketing?
Healthcare businesses know that they need to generate leads to keep their companies afloat. Account-based marketing (ABM) is one way to target individuals with a high potential to convert into high-value customers.
According to recent surveys, 91 percent of companies using an account-based marketing approach said that they were able to increase the size of their average deals. Of those who reported a great ROI, 25 percent saw an increase of 50 percent or more from their ABM clients.
The key here for healthcare businesses is to cultivate a customized approach to marketing when it comes to high-value customers. Approaching the right people and nurturing these leads is essential to closing the deal.
Tips for Healthcare Businesses
The B2B marketing services in the healthcare industry can be difficult to tap into for several reasons. There are unique complications that make it more likely to frustrate marketing and sales professionals, but ABM can help to simplify the process.
Simplify Buyer Collectives
When it comes to closing a deal in the healthcare niche, buyer collectives can be complicated. Many different people might be involved in the process, but only a handful of them have the power to make any key decisions.
Oftentimes, the decision-makers are influenced by the opinions of other team members, which means that it is important for B2B marketing services to cater to everyone who has a say in the matter.
Account-based marketing makes it easier for companies to see the role of each individual who is involved in the sales funnel and allows customized messages to be sent to each of these key players.
Personalized Experiences for Siloed Personas
Much like the work ABM does to simplify buyer collectives, it can also help to engage the right people who are otherwise siloed. These people may play a key role in making decisions but have limited communication with one another. This is why it is crucial to stay top of mind for every player in the business.
Send out personalized messages that will matter to each individual. This can even prompt communication between departments, helping to break down the typical siloes.
Replicate Data
How much time can one company spend creating purchasing models for a client? Hours can be spent trying to manage B2B marketing services that are customized to a particular account.
ABM makes it easier to see patterns among similar companies and to replicate the strategy that has proven to be most effective. With an account-based marketing approach, businesses can more easily:
- Find the decision-making individuals and create inroads with them
- Understand the importance of peer influence in decision-making
- Identify the unique roles of key players
It requires some research to input data related to each potential client, but the result is more than worth it. Seeing the patterns between roles and relationships at the business level will make marketing more effective. In short, account-based marketing allows companies to scale what they are already doing.
B2B Marketing Services for Healthcare
Insights ABM is ready and willing to help companies in the healthcare industry to better manage their account-based marketing strategies. Contact us today to learn more about our B2B marketing services!