Transcript of How HealthTech Leaders Optimize Their Marketing Pipeline
The Healthtech Marketing Show
0:00[Music]0:05Hello and welcome to the Healthtech0:07Marketing Show. This is the show where0:09we tackle some of the most pressing0:11issues facing healthcare technology0:14marketers. I'm your host, Adam Tinus,0:17the CEO and founder of Health Launchpad.0:20Health Launchpad is an agency that0:23focuses0:25exclusively on helping healthcare0:27technology marketing companies increase0:30pipeline growth. So, thank you to you0:33for listening or watching today's show.0:36Um, if this is your first show, why0:38don't you subscribe? If you're watching0:39on YouTube, click the subscribe button.0:42If you're listening to this episode on0:45Spotify, podcast, whatever your whatever0:47your favorite podcast app is, you know,0:49click the sub subscribe or follow button0:51so that you get all of the0:53episodes. I also want to give a big0:55thank you to our long-standing sponsors0:59and friends at the amazing hymns. So,1:02thank you to you guys for all of your1:04support.1:06In today's episode, we're going to be1:08diving into one of the issues that we1:13constantly hear is a big challenge for1:16all healthcare technology marketers and1:19that is how do you accelerate and1:22optimize your marketing pipeline. So1:25what are the things that you can do to1:27increase the likelihood that deals are1:30going to convert? What are the metrics1:33that really matter to measure1:36performance and you know like things1:39like who should own pipeline gener1:41generation across the organization and1:43how should they work1:44together. So to answer these questions1:48we've brought together two superb highly1:52experienced healthcare technology1:54marketing leaders Amy Swanson and1:58Michael Pasinante. These are two issu2:01these are two marketers for whom this2:02issue is a real passion and um I've been2:07really impressed with some of the things2:09that they've shared with me and I think2:11you're going to learn a lot. So they're2:13going to share some insights on things2:14like how do you create collaborative2:17dashboards that align sales and2:19marketing? How do you identify and2:22engage key members of the buying group?2:26and then what can marketing do to2:30improve sales velocity. So you're going2:32to under you're going to we're going to2:34cover a lot of these issues and um2:37you're going to discover things like for2:38example why marketing influence deals2:41actually can close at a higher rate and2:44even even result in larger deal sizes.2:47So, if this is an issue that you're2:49struggling with and you're looking for2:51some new ideas, you're going to learn a2:53lot over the next 30 minutes. And um2:56today's episode is actually going to be2:59hosted uh by my great friend and3:02colleague, Health Launchpad's Chief3:05Strategy Officer, Mark Iwick. So, over3:08to Mark, Amy, and Michael.3:12So excited to be here and thank you,3:14Adam, for that great introduction. Um3:17and um uh Amy and Michael uh we talked3:21um over the last few weeks uh about3:24pipeline and I'm so excited to talk3:26about it today um because it gets even3:29more attention in terms of economic3:32uncertainty um and and so right now um3:36in many organizations um the executives3:39are looking at pipeline they're looking3:40at pipeline creation uh are we having3:43the right goals do we need to reset how3:45are we tracking and what's the ownership3:47like there's a lot more pushing uh in3:50organizations between marketing sales3:52and sometimes even customer experience3:55on how to get towards the goal. So3:57really looking forward to talk about3:58that uh today and um let let let's start4:02with the um uh with uh with the4:05questions. Um I I think um Amy you you4:09talk about the um uh the pipeline goals4:11and getting them towards your your team.4:14Can you share with us a little bit on uh4:17how how how do you um make sure that4:20your team is aware and and how do you4:22then uh um make sure also that they uh4:26track um on these uh these goals and the4:30metrics and it becomes an important part4:32of their thinking when they're uh doing4:34their day-to-day job.4:37Yeah, thanks Mark. Yeah, I'd love to4:40talk about that. I think you know first4:41and foremost pipeline is a shared4:43responsibility. So understanding the4:46goals um the the company vision and the4:48strategy and really making sure that the4:51team is aligned to those goals is super4:52important. Um I always like to say the4:55why behind the goals is actually more4:57important than the goals themselves. Um4:59so really understanding not only why5:01we're doing these things and then how5:03we're going to achieve those things is5:04super important. I think first and5:06foremost um integrating the pipeline5:09goals into the strategic planning5:10process is really key and having the5:12team be a part of that collaborating to5:14really understand what we're trying to5:16accomplish and how we're going to get5:17there and then what what piece each of5:20the people owns within that process. I5:22think also um giving insight into how5:24you essentially reverse engineer to the5:27goal. So you can't just start with the5:29goal. you have to really understand the5:32component parts of that goal, what5:34you're going to do to achieve those5:35things, and then who again is5:36responsible for those. Um, and it's5:38really critical to have that ongoing5:40dialogue to ensure that that's a key5:42part of every planning meeting as well5:44as every standup, every one-on-one, you5:47know, every discussion so that it's just5:49an ongoing built-in part of the process.5:52Um, and through those regular touch5:54points, you can really not only ensure5:56that people understand the goal and5:58especially if any of those goals happen5:59to change, but then really understand6:01any obstacles or challenges to achieving6:03those goals.6:06Thank you, Amy. Michael, you mentioned6:09that um uh the deals uh the6:12opportunities with um marketing6:14influence uh you've recognized that6:17those are closing at a higher rate. Can6:20you um can you share a little bit more6:22about how do you measure that and um um6:26how do you actually qualify that this is6:27happening? Absolutely. So um you know we6:31spent quite a bit of time wiring up our6:33tech stack to ensure that we are able to6:36to track engagement at the contact level6:39and and then subsequently rolled to the6:41account level. So, we have a a good6:43understanding of the folks that are6:46involved in the buying committee um and6:48how they're involved in the individual6:51opportunities and how well we're doing6:54getting to those those people um getting6:56them engaged prior to them even becoming6:58an opportunity and then helping walk7:00them through to the end. Um and that's7:03everything that we can track, right? So,7:05it could be emails, webinar engagement,7:07could be social media engagement, could7:09be engagement with our uh our sales7:11enablement um offerings and collateral.7:14Um, and we're looking to continue to7:16build that momentum right through7:18through the process. And so, you know,7:21what we see and what we measure as part7:22of our our our overall KPI look is, you7:26know, here are the deals where marketing7:29has shown some clear influence where7:31where those buying committee members7:33have been engaged. we can very easily,7:35you know, look at the flip side of that7:37and see which ones are not touching or7:39or getting involved in in in anything7:41that marketing is producing and um and7:44very easily then correlate, you know,7:45how how well are they are they closing7:47um if they're in one or the other7:49bucket. And uh and as you mentioned,7:51it's it's pretty easy to to to tell that7:54uh when they're when they're involved in7:55our story um that uh they they just they7:59tend to close at a higher rate. That's8:02great. Thank you so much for for sharing8:03that. Amy, you talked about a um a8:06scorecard. I think you even said it's a8:09collaborative scorecard where you have8:10multiple departments working together.8:12Tell us a little bit more about that.8:15Yeah, many years ago um I created what I8:18originally called the marketing8:19scorecard and it became really clear8:21that it couldn't just be a marketing8:23scorecard. Um because so many different8:26departments are involved in pipeline8:27generation and in growth for the8:29company. it really became a8:31collaboration and a collaborative effort8:32between marketing, sales, business8:35development teams and now also customer8:37success teams. So you know the way I8:40went about that was one really hap have8:42to understand the purpose of that8:44scorecard. Um for me it's a really8:46powerful tool as I mentioned to align8:49all those teams and to drive growth. um8:51that scorecard should be a key tool in8:54generating not only metrics but also8:57insights which are actually more8:58important and drive better decision-9:00making throughout um and performance9:02throughout the process. So you know it's9:04really important to gain buyin when you9:06develop a new tool. Um I recommend9:09getting those key stakeholders, those9:11teams together very early and really9:13understanding the definitions behind9:15what you're trying to accomplish. Um I9:18find that that fosters u a sense of9:20ownership. It helps define the benefits9:22not only to my department and my team9:25but also um across the various9:27departments and really understand it9:29helps people understand um again how9:32we're going to achieve uh those goals9:34and you know once you have those common9:35definitions and that terminology you can9:38then get into um the metrics that go9:41behind those terms and I found you know9:43in different companies different teams9:45um those definitions can vary so again9:47just getting that common dialogue is9:49really important9:50Um once you align on those overall9:52goals, then you can start to map out and9:55design what that scorecard looks like.9:57And I've found that you in many times9:59you start with three or four metrics and10:01then over time you can iterate that and10:03add the things that are critical to not10:05only the long-term success of the10:07company and achievement of those goals,10:09but also things that might be future10:11KPIs that you just simply don't have10:13today and you'd like to work toward. Um10:15I find that many leaders um see that10:18there's real value in that. it shows10:19that you're not only focused on the10:21short term but also on the longer term.10:24Um, and then once you have the metrics10:26and the definitions, then you can really10:28talk about the reporting and the cadence10:30of that reporting. And I find that that10:33story that you're trying to tell,10:34especially at a leadership level, is10:36really critical to be aligned on. So10:39that you know how you're going to share10:41and visualize the metrics as well as the10:43insights that you're gleaning from those10:44metrics can be really important and it10:47can take the form of dashboards can take10:49the form of you know presentations etc10:52but you just need to make sure that you10:54have that transparency across the teams10:56and that understanding at a leadership10:58level and I will say at a leadership11:00level it's absolutely critical in my11:02experience to have that buyin so that11:05they can then champion what your perform11:07what your uh excuse me reporting on and11:09then also how that impacts performance.11:11Um I would say it needs to be part of11:13regular regularly scheduled touch points11:16um as we discussed earlier and it really11:19needs to if possible fit into existing11:21structure. So whether that's reporting11:24structures um existing systems or11:26software you know applications that you11:29use um different processes even11:31onboarding and performance reviews um11:33that avoids creating additional11:35administrative burden and also helps11:37people to really buy into that process.11:40Um a couple last thoughts Mark um some11:42helpful reminders. This scorecard is11:44never going to be complete. It's11:45iterative. So as you develop new goals11:48and objectives you want to keep that in11:50mind. Um, again that senior leaders11:53leadership component is really key. When11:55they understand what you're measuring,11:57why you're doing that, and what that11:59actually means for the success of the12:00company, they're very likely to be12:03advocates and to champion for that12:04metric or th that scorecard. And then12:07lastly, use it as a tool to, you know,12:09recognize and celebrate the team. Um,12:12you're going to have accomplishments12:13that you want to really recognize. Um,12:15but it's also a great way to track12:16progress. So that's how I've gone about12:18it. And I'm sure there are a million12:20different ways to do it, but that's12:21what's worked for me.12:24Thank you so much, Amy. Um, really, uh,12:28exciting approach, uh, collaborative12:30approach and it also sets you up as a a12:33leader, um, but brings all people12:36together when you present it, uh,12:37upstream. So, um, great approach there.12:40Thank you so much for sharing12:42that, Michael. You just, uh, mentioned12:44the this concept of the the buying12:47committee. Um and I I think would be12:50interesting and particularly in in light12:51of um building pipeline um at what point12:55did you start tracking that and how is12:57your organization continuously looking13:00uh that they have the right people in13:02the buying committee and that they're13:04marketing out towards uh the right13:06individuals there.13:09Yeah. I mean that's something that I13:10think we identified very early on in our13:13process. uh you know like most B2B13:16situations um it's not one person that13:18weighs in on the decision right there13:20there's many um so getting to understand13:22the personas that were involved and and13:24how each of them plays into that13:27decision uh became very important for us13:29and so early on we wanted to make sure13:31that as we developed our target accounts13:33and started to think about ABM more13:35holistically that you know we we were13:38you doing our our due diligence to13:40augment those target account records13:43with the right uh people. Um and you13:46know, you source them from a variety of13:47different places, but the point being13:49that you know, you get them centered in13:51in there and that you know, you really13:54can start to understand that level of13:56engagement across those accounts very13:59early on. And and again, the flip side14:01of that, who who's not lighting up? Um14:03how are we not touching them? And so we14:05we look at that and we talk about that14:07um frequently. Um, you know, we have14:09several hundred deals typically in our14:11pipeline at any given time.14:13Um, but it's very easy to see, you know,14:16here's the ones that we are influencing,14:17here's the ones that we're not. Um, if14:20we haven't to that point, let's let's14:21let's see if we can help it along,14:23right? Um, why haven't we done that?14:25What can we be doing? So you're using it14:27as a diagnostic tool as well as a14:29measurement tool in in trying to14:31understand where we're we're going14:33because as you mentioned before, you14:34know, we know we know when they're14:36engaged in our story and we know when we14:38have more people involved, no surprise,14:40in that decision, um they're they're14:42more likely to tip in our favor. And so14:45um it's not just, you know, sort of a14:47one point in time thing. It's it's14:48looking at that longitudinally and and14:50trying to make sure that you're you14:52know, you're staying consistently14:53engaged with those accounts.14:55Great. Uh thank you. Um Amy, we we were14:59talking about the the role of BDRs in15:02building pipeline and how they fit in15:05towards uh what marketing is doing and15:07what sales is doing. maybe start by15:10giving us a perspective of your view of15:13the role of BDRs in in this whole15:16pipeline generation and then secondly15:18maybe you can weave in there based on15:21that that role where would they fit best15:23in the organization.15:26Yeah, great question mark. I think um15:28you know for BDRs I find that the best15:31definition or at least the most15:33consistent definition is a team or a15:36person who are really focused on15:37inbound. Um they are the final step if15:40you will between uh marketing and sales15:43and really decide whether or not a lead15:45is you know quote unquote qualified and15:47moves forward in the process. Um, based15:50on that definition, you know, and I15:52found in my experience, BDRs really, you15:55know, there's something I call the Ron15:57Weasley syndrome, which is that a lot of16:00teams don't really understand the role16:02of that character in the overall team.16:05And so, just like Ron Weasley, if you're16:07familiar with the Harry Potter series, I16:09think he struggled to be anything but16:11Harry's best friend throughout the16:13series. um and really you know had a a16:16difficult time understanding his role in16:18the greater uh team and the greater16:20storyline. So those BDRs really need to16:23have role clarity and they can't suffer16:24from that Ron Weasley syndrome um so16:27that they know where they fit in the16:29organization best and what they16:31contribute to the overall um team goals.16:34Um, I will say that, um, I think when16:37BDRs report to sales, um, that structure16:41can work, but they are primarily16:43incentivized on quotas and short-term16:46activities. Um, which makes sense,16:48right? Because that's what sales is16:49focused on. Um, but that doesn't16:51necessarily serve all the different16:53purposes that marketing serves and the16:55value that it drives within the16:57organization. So in my experience, I've16:59found especially for companies who are17:02more focused on the overall patient or17:04uh customer journey that BDR's reporting17:07in through the marketing organization is17:09actually a better fit. Um it prevents17:11Ron Weasley syndrome, but it also helps17:14to nurture prospects on the front end17:16directly into the early stages of the17:18buyer's journey. It helps with messaging17:21early on so that those prospects when17:23they become customers are already17:25accustomed to those onbrand messages and17:27content. And then on the back end, if17:29the focus is on upsells and cross-ells,17:32it really helps with that continuity of17:34message but also that continuity of17:36experience. And so for me uh a BDR17:39focused on not only inbound but also on17:42that overall customer journey fitting17:44that role into the marketing group makes17:46tends to make more sense than it's17:48sitting in sales.17:50Great. Thank you. Michael, you have a17:52BDR team?17:55Uh we do. Um right now it's a team of17:57one. Um probably going to be expanding18:00that. But um yeah, I I would I would be18:03inclined to agree with Amy on on that. I18:05mean, when we think about our our18:07approach and and right now the BDR is is18:09in the marketing team, u there's so much18:12work that's done upstream that and and18:14you know, there's there's only so many18:16accounts that are in market at any given18:18time anyway, right? So, the chance of18:20him finding a bullseye or several bullse18:22eyes any day and creating a short-term18:24opportunity of that out of that, it's18:26it's kind of small. But what we have18:28seen is a is um over the time he's been18:31doing this um that evolution where that18:35early engagement layered on with other18:38kinds of targeting and surrounding those18:40people um before they become18:42opportunities makes a difference. Uh we18:44see we see people that he's frequently18:46engaged with through LinkedIn or or18:49other types of venues, meeting them at18:50conferences, etc. Um, and then all of a18:54sudden, you know, an opportunity shows18:55up in our in our pipeline, usually18:58because we're, you know, we're getting19:00sort of disambiguated. We have a broker19:01consultant between us and the end19:03client. But, um, so they don't19:04necessarily call him back and say, "Hey,19:06like I want to get on the phone with19:07you, but we, you know, that that19:09constant engagement and and movement19:11kind of, you know, creates that19:13familiarity and pushes pushes it along,19:15no doubt." And so we're seeing more and19:17more accounts showing up in our pipeline19:19that he had engagement with long before19:22they became opportunities. Right? So19:25again, correlate it, but to me that's19:26that's making a difference where we19:28didn't see that before him being there.19:31Okay. Thank you. Um let's stay with you,19:34Michael. What advice would you give19:35marketing leaders who want to get um um19:38better alignment um uh across the19:41different teams on the pipeline metrics?19:45Yeah, I mean the um the first thing you19:49need to do I think is make sure that19:50your team understands that they have19:51responsibility for pipeline, right? That19:53that it's you know the activities of19:55marketing are not divorced from the19:57creation and and the cultivation of of20:00pipeline. So they need to understand20:02what the sales goals are. They need to20:04understand as Amy intimated what the20:06what the pipeline goals are because20:07they're going to be bigger than the20:08sales goals, right? Um and and and what20:10it takes to get there and what their20:12role is in that, right? Um, so those are20:15those are are hugely important. And then20:17I think you need to understand how20:19marketing plays into that and how your20:21leadership views that, right? There's20:23going to be certain situations depending20:24on the product that you have where20:26marketing is going to be very directly20:29involved in specific discreet20:30opportunity creation, right? We call20:32call those marketing attributed leads,20:34right? Or marketing attributed business.20:36And then there's going to be another end20:38of the spectrum where marketing is is a20:40really a more influential player and a20:42very long tale complex sale perhaps. Um20:45that's where I tend to find my myself,20:47right? And so as we calibrated our our20:49KPIs, it wasn't about, you know, how20:52many opportunities can I create in the20:53next 15 to 30 days, right? Uh because it20:56takes, you know, months, maybe years to20:58to to have something actually show up.21:01And so we had to, you know, we had to21:03calibrate how we approach the market and21:05what we measure and what marketing is21:06ultimately responsible for um to the to21:10that thinking. Um and that that I think21:12helps get the teams aligned around what21:15they can reasonably expect the marketing21:17team to do um in in the course of of21:19those sales.21:21Great. Thank you. Um Amy, when Michael21:25brought up this concept of uh21:26translating the um the pipeline goals in21:29towards uh marketing metrics, uh what's21:32your point of view on that?21:35No, Michael's exactly right. Um you have21:38to have alignment and also common21:40language. And I found, you know,21:42especially when translating marketing21:44KPIs to executive leadership, um, I need21:48to really stay away from and have my21:50teams stay away from what would be21:51traditionally considered marketing21:53jargon. Um, a lot of times, you know,21:55marketing will come in and say, "Hey, we21:57generated x number of MQLs this month22:00and the leadership team may have varying22:02experience with MQLs or leads in22:05general." And so I really try to focus22:07more on business impact and say things22:09more akin to, you know, the X number of22:12leads that we generated this month22:14represent a total potential pipeline22:16value of X in dollars. And based on22:20historical conversion rates, this22:22contributes to our monthly revenue22:23targets in this way. um this helps them22:27to really kind of translate what we're22:29doing, the activities that we're doing22:31and not really be so transactional but22:33think more in terms of value22:34proposition. Um when marketing can drive22:37value and the executive leadership can22:39understand that and frankly the whole22:41team can understand that I think it just22:43goes a long way in making sure again as22:45Michael said that everyone's on the same22:46page and that we have a common u you22:49know set of of terminology that we can22:51use to define what we're doing.22:55Great. Thank you, Michael. As um as you22:59look towards the different stages in23:01pipeline um uh you had mentioned a23:05number of different tools that uh your23:07team is is using um across the um uh the23:12pipeline and even at at at earlier23:14stages. Can you can you share with us um23:18how those tools are helping and and23:20maybe even how that's improving sales23:23velocity and some other like measurable23:25uh metrics?23:28Yeah. Uh sure. I mean, you know,23:30velocity is an interesting question in23:32our space um because you know there is23:35sort of a a cadence to the way people23:37buy their their benefits. Um so it's23:40it's you know it can be difficult to say23:42wow we we did this with them or they23:44engaged in that and that that increased23:46you know or reduced the amount of time23:48by 10 or 20 days. Um it's not quite that23:51discreet but again back to the overall23:54idea of engagement. Um, for instance, we23:57have a a CMS platform called PaperFlight24:00that we use and that enables the um the24:03sales team to both share individual24:04pieces of collateral um from that and24:07track the movement and touch points of24:09that collateral um in addition to24:11creating what are essentially deal rooms24:13where they can exchange information with24:15clients um and across their buying24:17committee, right? Um what we see is24:19tangible impact on that, right? We see24:21we see once those assets begin to get24:23shared, they also get begin to get24:25consumed, right? And they get consumed24:27over and over through the course of the24:29process. And I and I believe something24:31that seems relatively simple like that24:34makes a difference in the course of a24:35deal where they're definitely going to24:37be evaluating different vendors and, you24:39know, we're not the ones that are24:41throwing PDF files over the wall at24:43them, right? They're actually they're in24:44a they're in an experience and they're24:46they're they're engaging with our our24:48team and and across their team. um in at24:51at the customer site um in a very24:53specific way and it's customized and to24:56their look and their brand and it just24:58it it just tells them that we're more25:00engaged with them as a company uh25:03because our sales you know take a little25:04while to close. So those kinds of things25:07have certainly um certainly benefited us25:10I think in the course of a deal and and25:12help also help to create a25:14differentiated experience that they they25:17aren't typically going to get um from25:19from competitors in our space.25:24Great. Thank you. Um yeah, exciting how25:27the technology is uh is helping in in25:29that perspective. Um we were all talking25:32about um uh different influences um25:36between uh marketing and sales. Um also25:39in um um I think as we see more and more25:43uh customer experience and your existing25:46customers.25:47Um Amy would love to get your25:49perspective on that and how they become25:51part of the conversation not only of25:54like hey their number gets in there but25:56like what's the collaboration uh25:57collaboration between marketing and26:00customer experience and what have you26:02done in that space?26:05Yeah it's a really good question you26:07know I am seeing a growing importance of26:09marketing and customer retention and26:11customer retention goals. You know, the26:13old adage is it, you know, costs less to26:15keep a customer than to create a new26:16one. Um, and it's a real balance, right,26:19between marketing, which is already a26:22small but mighty team in many cases, you26:25know, focused on acquisition and, you26:27know, leads and things of that nature,26:29and then retention. So, you know, I26:31would say one, the balance between, you26:34know, where you focus your energy as a26:36marketing team really depends on your26:38company goals. Um, in general, I tend to26:41focus marketing investments on driving26:43the most profitable long-term customer26:45relationship. So whether you're26:46measuring that in customer acquisition26:49cost, you know, customer lifetime value,26:51whatever those metrics are, um, you26:53really need to speak the language of26:55your leadership team and really focus in26:57uh, your energy and your resources where26:59it makes the most sense for the overall27:01health of the company, both from a27:03growth, but also a profitability27:04standpoint.27:08Great. Thank you, Michael. Any different27:10perspective?27:13No, I think Amy nailed it. I mean,27:14that's that's really, you know, that's27:16the key is is calibrating your campaigns27:18and your approach to making sure that27:20you're aligned with the company goals27:22and that does tend to, you know, revolve27:25around both sales and profitability,27:27right? So, that's that's the key. Um,27:30and and making sure that your team is is27:32uh and your activities are are aligned27:34to that. It's very easy to stray. Um27:36there's so many, you know, shiny objects27:39in marketing. Um and you know, we all27:42know, those of us that are practitioners27:44of it, there there are lots of of of27:47opinions that come in from lots of27:48different places about what you could27:50and should do, right? And so that's27:52that's where you need to have these KPIs27:54at your side and and alignment because27:56that that helps insulate you from some27:59of that that chatter that can take you28:01off point. um because you can you can28:04make that argument that you're you're28:06trying to stay the course and here's how28:08you need to do it and uh and that really28:10will help in those situations. I've I28:12found that to be um extremely28:14beneficial. Okay. Uh thank you, Michael.28:18Um I I think the the thinking of28:22involving customer experience and28:24retention is definitely something you28:27see more and more over the um the last28:30uh five years or so. I think the other28:33part which is getting more and more is28:36the shift of uh marketing's focus28:39towards bringing more in towards the28:42pipeline now to uh take a look towards28:45the opportunities that are in pipeline28:47and where can marketing help accelerate.28:50So uh interested in in that and in both28:54of your opinions maybe Michael we start28:56with28:57you. Sure. I I mean certainly um you29:00know we're in a company29:02that's not quite seven years and change29:05in market, right? So um we're at that29:08arc now where retention's becoming a29:10thing. You know, it's not all, you know,29:11new acquisitions is obviously always29:13key. Um but retention's becoming a29:16thing. And so as our account managers29:18are are you know getting deeper and29:20deeper in that mode29:22um frankly uh there's there's a great29:25synergy there between what marketing and29:27and and our customer success account29:29management teams can do and um and and29:31and how we all um you know row together29:34to keep those clients happy to keep them29:36informed and and keep them in our camp.29:39Um so absolute agreement and alignment29:41there that there needs to be some time29:42spent making sure that that that29:45happens. Um you know the other side of29:47it is um you know that that sort of you29:50know new acquisition and engagement and29:52um and that that never really goes away29:55right so um you have to balance that29:58between what you're doing on the29:59retention side and and and how you're30:01pursuing that new uh new engagement.30:04Good. Uh Amy, perspective on um the30:08opportunities that are in pipeline and30:11uh how to accelerate those, how to make30:13sure that they keep on moving.30:17Yeah. I mean, I think Michael raised a30:19good point that um you know, the the30:21lead generation activities never go30:22away, right? Um, but what I try to, you30:25know, tell my teams is, you know, one,30:28um, they never go away, but we also need30:30to be smarter about what we're pushing30:32into the pipeline so that we're spending30:34our energy where it makes the most30:35sense. So, kind of related back to the30:37earlier uh, question. The other is that30:40um, you know, it seems like sales cycles30:42are getting longer. I think Michael30:44alluded to this as well. And so um30:47there's you know perceived time I'll30:49call it that marketing teams have to30:52devote to other activities um and so you30:55know we definitely want to show value30:57across the continuum um both pre and30:59post sale. And so as we look at you know31:02what it takes to retain a customer and31:04also what it costs us um to acquire a31:07new customer if you look at that you31:09know the math um the calculus is such31:11that in many cases it actually is more31:14important to retain the customers than31:16to push pipeline. And so one of the ways31:18that we think about that is you know if31:21we can actually develop fewer leads by31:24retention of one customer or 1031:26customers or you know whatever it might31:28be or through different activities31:30growth activities such as um you know31:32upsell cross-ell activities that might31:35actually be a better use of our scant31:37marketing resources um and you know31:40drive more value overall for the31:42company. So again, as Michael said,31:44you're just constantly looking at what31:46levers can you pull and and uh what31:48makes the most sense for the company's31:49goals and objectives.31:52Great. Well, thank you Amy and thank you31:55Michael. I think we learn a lot today31:58and and both of your perspective most of32:01the time align but sometimes coming in32:03towards it from a very different angle.32:05Uh super valuable. Um maybe we close32:08with some uh some final thoughts and the32:11recommendation for marketing leaders. If32:13you uh want to drive pipeline, what are32:16the the the critical points that you32:18would um recommend our marketing leaders32:21pay pay close attention towards?32:24Michael, let's start with32:26you. Um I you know, pipeline doesn't32:30start with an outbound email that32:33someone responds to most of the time.32:35you know, if you're you talk about32:37demand generation or demand creation,32:40um that's where you get into this this32:42whole, you know, brand building32:44conversation and it's really important32:46to balance your performance marketing32:48with your brand. Um because and that's32:52can be tough depending on your32:53leadership and how they how they view32:54that. Um, but again, you know, when32:57you've got just a a a select number of32:59buyers that are are in market at that33:01moment, you obviously want to capture33:03that demand, but that demand starts way33:05upstream. And so when you're thinking33:07about how to allocate your resources,33:09you want to make sure that you're you're33:11engaging the marketplace where they are.33:14Um, and that may not always be in a33:16buying mode, but you're building33:18pipeline. And that's that's, you know,33:19again, you can't get yourself into this33:20mode that pipeline is a is a narrow33:23window. um it starts way in advance. And33:27so I I would suggest that um you you33:30definitely spend time on building out33:32the content, building out the muscle to33:34make sure that you can engage those33:36buyers um and build it build that brand33:39presence. So when they are ready to go,33:42um you're top of mind for them. And then33:44that that conversation becomes so much33:46easier. The demand capture becomes so33:49much easier and the conversion um33:51pathway is is uh much more33:53straightforward as well. Yeah, I33:55couldn't agree with you more. It's like33:58um if you're not building the brand,33:59you're not even in consideration when34:01they start reaching out. So uh great34:04point, Michael. Amy, any recommendations34:06you have for marketing leaders?34:09Yeah, I'll build on what Michael said. I34:10mean in B2B especially only 5% of the34:13market is in market at any given time.34:15So if you think about it in that way and34:17again marketing uh has a a real story to34:20tell in terms of brand but also34:23leadership is reluctant and reticent34:25sometimes to devote money and energy to34:27brand activities but brand is really34:29actually more important and demand than34:32actual lead generation in many cases. Um34:34so you know one make sure that you're34:36not sort of uh you know don't look at uh34:39the tree rather than the forest in this34:41sense focus on both. um to that34:44alignment to goals is really critical34:46and having um metrics as we discussed as34:49well as a way to um convey and34:52communicate those metrics is really key34:54and make sure that there is a common34:56language because as uh everyone is34:58involved in you know demand generation35:00and brand uh they're also involved in35:03pipeline generation. And so, um, having35:05everyone be on the same page and having35:07regular communication about where you35:09are, how you're going to get there, and35:11what barriers or challenges you're35:12having, I think is really key to just35:14having success in both lead and demand35:17generation.35:19Great. Well, Amy and Michael, thank you35:21so much. This has been uh not only a35:24pleasure uh but also a great learning35:26experience and I think for everybody was35:28something to learn here today. So, thank35:31you for for a great talk today.35:35Thank you. Thank you, Mark.35:40That was great. Um, I'm actually going35:42to end the recording because I think35:44what I'm going to do is, um, well, wow.35:48Well, I learned a lot from that. Um, I'm35:51so grateful to them for sharing their35:55their perspectives and their insights.35:57Um there's a lot to unpick in there and35:59so what we've actually done is turned uh36:03that interview into a blog post. So the36:07blog post does a couple of things. It36:08summarizes the problems, but it also36:10gives you a series of very actionable36:13best practices. So there's a link down36:16in the show notes. Click on that link36:18and uh you can you you can start putting36:21some of these things into action36:23immediately. Uh the other thing is a36:26bonus in there for from you. Um Amy36:29mentioned that she's created uh kind of36:33an interesting way of doing dashboards36:35that are very collaborative and so she's36:37provided us with that framework. So if36:39you click in the uh in the blog if you36:41go to the blog post you'll see that you36:44can download that. So um hope you36:46enjoyed it. By the way if you're um you36:50know if you're looking for help in this36:51matter you can give me a call so or get36:53reach out to me. So, uh, best way to36:56reach me is at36:58adamhealthlaunchpad.com or connect with37:00me on LinkedIn and, um, Mark and I can37:03sit down with you and talk about some of37:05the pipeline challenges that you have37:08and, um, help provide you with some37:09ideas. You know, it's not a sales, it's37:11not a sales meeting, per se. It's just37:13an opportunity to see if we can be of37:16value to uh, to health tech marketers37:19who are looking for ways to improve the37:22way you grow your pipeline. So with37:24that, I will bid you farewell and hope37:26to see you on the next episode.
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