Transcript of The New Healthtech Marketing Playbook
The Healthtech Marketing Show
0:07[Music]0:18[Music]0:28hello and welcome to today's webinar I'm0:33I'm the I'm Adam charinus I'll be0:35moderating today and our speaker is Mark0:38Ock and I'll introduce him briefly so0:41today's webinar I think is a great way0:44to end 2024 and to start thinking about0:472025 what we're going to share today are0:50some insights about the modern0:53healthtech B2B Bier journey and where0:55what you're going to see is some really0:57interesting data that's comes from1:00multiple sources and a lot of it is1:02really fresh research very exciting1:04stuff I was I was really taking it back1:06when I saw it we're also going to share1:08a new framework how to think about1:11marketing so these are some things that1:13hopefully today you'll be able to walk1:14away from this and start thinking about1:16some things that you might be able to1:17apply starting in January of 2025 and1:22then last but not least is we're going1:24to propose some a better way of thinking1:26about metrics and measurement some real1:29specific examples of how to do that1:32before we get started though I just want1:34to share a little bit about health1:36Launchpad for those of you who don't1:39know who we are so what health Launchpad1:42is a pipeline growth firm so we are the1:45pipeline growth we like to think of1:46ourselves as the pipeline growth1:48partners for1:49healthcare and we think we have three1:52superpowers or at least our clients tell1:54us first of all we have deep experience1:57in overcoming the unique challenges of1:59selling to Healthcare organizations2:01we're really obsessed about the B2B2:03buyer Journey we also have what we're2:06told is industry leading expertise in2:09account-based marketing and helping our2:12clients use that tool amongst others to2:14generate Pipeline and then lastly a2:17battle tested approach to creative2:19effective messaging and2:22conservatees buyers and healthtech2:24buying decision makers so that's what2:26we're about let me just quickly share2:29some of the clients that we work with2:31and then we're going to get into the2:31meat of it so this is just a sample of2:34some of the clients that we've had the2:35pleasure of working with over the last2:37year this is our fifth year of operation2:39we've served over 40 clients in the2:41health te space all right now on to the2:45show I am I'm so delighted to2:49introduce my partner in crime our chief2:52strategy officer and principal of Health2:54Launchpad Mr Mark erck Mark is a2:58three-time marketing leader he was CMO3:01at verato and had similar roles at3:04imprivata and Nuance I've been I met3:07Mark actually at sway Health we were3:09both on a panel together earlier this3:11year and immediately started talking3:14about how we could start working3:15together and I I have learned uh so much3:18from Mark in fact I think Mark's3:20probably forgotten more about how to3:21generate pipeline in healthtech than3:23I'll probably ever know so it's3:25wonderful to have you here Mark today is3:28going to be going through presentation3:31on the buyer journey and how to apply it3:34in your marketing and in measurement in3:372025 Mark over to you thank you so much3:41Adam and looking forward to this session3:43today so to go over the agenda we'll3:46start with a short introduction we'll3:48review uh research uh that is taking a3:51look towards buying uh their behavior uh3:54and their perspective in the market some3:57of the data will be specifically for3:59healthcare Tech technology and then4:00there will be some generic data as well4:03and as Adam stated we have some I'm4:05really excited to be in this position4:08because there is some really fresh data4:10actually even from last week in here4:13based on This research we will cover a4:16recommendation for a balanced marketing4:18strategy in fact I'll be sharing a4:21playbook for marketing healthtech uh for4:242025 and Beyond we'll then talk about4:27the importance of account based4:30uh4:31measurement uh and I'll give a few4:34recommendations for a new uh measurement4:37framework we'll wrap up with uh4:40implementation uh uh4:42guidelines and we have a uh Q&A at the4:45end of the uh session and let me just do4:48a couple of housekeeping notes first of4:50all just to answer everybody's question4:52yes this session is being recorded4:54secondly there's a lot of information to4:56cover so we'll be covering we'll have a4:59Q&A try 10 15 minutes at the end and I'm5:01going to moderate that and I'm going to5:03pick the questions that we're going to5:05going to answer but put your questions5:06in there there's always usually a chat5:08going on whether it's on in the chat5:11here or on uh LinkedIn live where we're5:14do we're broadcasting at the same time5:16and then we'll be sharing out the5:18recording later I I don't know I don't5:20think we're actually going to share the5:21presentation the deck but we will share5:24the recording sometime next week Mark5:27back to you thank you so let's uh talk5:31about the modern Healthcare buying5:33reality and one other housekeeping5:35element that like every section that5:38I'll cover every one of these chapters5:40will have a conclusion at the end and5:42specifically this first part is going to5:44be fast but I'm like like I said I'm5:47really excited about all of the research5:49that is available uh for us that will5:51help us frame this two months ago Gary5:54Cunningham was a guest at the healthtech5:56marketing network sharing his latest by5:59research and we were thrilled that he6:01was one of our guests because he6:03previewed some of the the reports that6:06he published later on we were just in a6:08great position the one of the data6:11points that he shared was that 70% of6:15the btb buyers engage with sellers6:18directly when they're through 70% of the6:22uh no when they're through 70% of their6:24buying process so this first 70% they're6:30and only when they're through at 70% of6:33their buying process they start to6:35engage with uh the vendors uh and so6:39during that first 70% uh most of these6:41buyers establish their requirement6:43choose a preferred vendor and this is6:46all without us vendors knowing it and so6:49they in the meantime they are consuming6:51fast amount of data content from vendors6:53and third party sources and this is6:56across all Industries he said when we6:59asked him this question he said it's7:01Healthcare all other segments is all7:03pretty much the same7:04number then interesting enough two years7:07ago a survey from Bane and Google that7:11was published in Harvard Business Review7:13I was looking towards people involved in7:15buying software and Cloud hosting7:17Hardware Telecom and some others stated7:21that 85% have already a set of vendors7:24in mind before doing any7:27research trust radius had the 2024 B2B7:32buying disconnect report published last7:35month and there was stated7:3786% shortlisted product before they had7:41they heard or they had heard of before7:44starting their research7:46process and then again going back7:48towards Bane 90 ultimately chose a7:50vendor from the day one list and the7:53trust radius report as well as six cents7:56had similar results so to be on that7:59list is really8:01critical six s 78% of the buyers have8:04already established their requirements8:06when they engage with a8:08vendor so they engage with the vendor8:11and at that point they know already the8:13priority like we're frequently talking8:15to sales and then then talking about hey8:18here are the things that you can8:19influence but so much has already been8:22influenced before sales is even talking8:25towards them so that means that sellers8:28have already lost most of opportunity to8:30influence the deal or to convince the8:32buyer to consider alternative means to8:35hit their8:36goals in March of this year we had a8:39speaker from hims at the healthtech8:42marketing Network they had surveyed8:44buyers in our industry and shared8:46information during that webinar8:4927% um of the buyers group have more8:53than 108:54people and that's constantly increasing8:57number every year that number gets9:00bigger and hims stated also that9:0469% had a buying cycle of 13 months or9:08longer and in fact 40 stay at 24 months9:12or longer so this buying cycle really9:15gets stretched out now most of the data9:18that I shared earlier have have been9:21republished on LinkedIn and in some9:23other post here's another interesting9:25thing that didn't get so much attention9:27which is the number of inter ction with9:30the vendor per member of the buyer group9:33right so if you think about it you have9:36this buying group and different9:37individuals who are responsible for the9:39purchase H and they start to interact9:41with the vendor on average you have 17.69:45interactions with a vendor per member so9:49if you have 10 people in the buying9:51group that would leave towards like9:53roughly 180 interactions and then if you9:56think about the total number of9:58interactions across all members and10:00across all vendors you quickly get10:03towards 850 or so interactions and itar10:07had their report again last week it's10:10amazing the amount of reports that it10:12was available 49% say the of the buyers10:16that they interviewed for that survey10:19said that it's harder to make a purchase10:21versus two years ago and Forester10:24published two weeks ago a report where10:26they're looking towards the buying10:29Behavior behavior and there 87% of the10:32buyers are dissatisfied even with the10:36process even after what they claim those10:38same buyers claim is a successful10:40purchasing process the 87% still claims10:44that it was an frustrating10:47process so let's talk a little bit more10:49about the buyers group because it's10:50really important particularly in the10:52healthcare industry because there so10:54much goes around it we typically think10:56about the buyers group as a fixed group10:58of people with defined personas being11:01tasked selecting a solution for a11:03problem that exists in an organization11:05research from both and Gardner fully11:08independently from each other state11:10something completely different they're11:12talking about it's actually a dynamic11:14group it's changing people are coming in11:16and floating out during the process of11:18the buying there's different functions11:21in there uh we all know that but then11:23there's also different roles in there uh11:25related towards the buy process so have11:29influencers you have researchers you11:31have decision makers and those decision11:34makers can even be different by product11:37so one of the things that we did when I11:38was at inada we had a number of11:41different products going in towards the11:42market but for each product we had11:44actually defined who is in uh the buyer11:48group so to recap this section the buyer11:53is in control the buyer is11:56frustrated most of the buying cycle is11:58not visible towards the12:01vendors and we had more people in the12:03buying group than ever12:05before and most of the decision is made12:08before even getting engaged with the12:10vendor and the sales Cycles are getting12:14longer so with all of that information12:17how do we build a marketing strategy12:19recognizing This12:21research I'm originally from the12:23Netherlands and in the Netherlands you12:25have this concept it's called the Fabo12:27and basically what it is it a wall with12:29snacks in there you put a coin in and12:32you get a croquet like a warm snack that12:35is fried out and that that I had to12:38think about that concept because it's12:40like the old way of doing marketing in12:42the old way of doing marketing you put a12:44coin in and you get an mql12:46out that no longer works the buyer12:50defines the buyer's Journey he defines12:53when he shares his contact details he12:56defines when he engages with a vendor12:59and when he engages and he remains13:02Anonymous as long as he13:04wants and let's remember we created part13:07of the of this problem right the tools13:10are so prominent that everybody's using13:12them we're no longer thinking13:14strategically about the content and13:16we're no longer thinking about the13:18consequences with tools like maretto and13:20HubSpot we've been empowered to send out13:24more emails so what did we do as13:26marketeers we send out more emails13:29AI is there and it's easy to create more13:32content more blogs more Post in social13:35media because AI makes it so much easier13:38to create so what is the result more13:41blog post but there's really not more13:44valuable content LinkedIn with tools13:47like uh sales Navigator it's now easier13:50than ever to create um connections even13:53do that on a mass scale so what does it13:56result in push for more connections so13:59with all of these poor intended emails14:01fake LinkedIn connections which are not14:03really connections and mediocre content14:06that is created we're not building14:09relationships or preference is that14:11we're creating frustration with the14:13buyers the buyers um are looking for14:16personalized value-driven14:19experiences they want to feel understood14:22and empowered so we need to think and we14:25need to change this requires a new14:28playbook we need to rethink how we spend14:31time and how we spend our dollars how we14:33spend our resources effectively and14:36balance our investments uh between14:38demand generation and14:41brand and we make sure that this brand14:45is actually helping in building a14:47preference and don't see brand14:49investment necessarily as large14:51billboards with your logo on there but14:53I'll come back with certain examples on14:55how we can effectively impact this we14:58need we need to treat our buyers as15:01individuals stop the email uh campaigns15:04towards large groups of people without15:07thinking about the Persona without15:09thinking where they are in the buy15:11buying process and without thinking what15:13content they have already15:15consumed this whole thinking that a15:18larger quantities is better comes from15:21the old thinking that you need to have15:24more mqls but what is happening our15:28conver Veron rates get worse so we think15:31that we need to put more mqls in this is15:34really thaw in the thinking because it15:37it gets only worse as a result of our15:39poor tactics so we can't um make it up15:44with more output we need our shift our15:46thinking towards more strategically and15:50focus on15:55quality it's also important that we15:57think about the reporting infr structure16:00as the parameters change our reporting16:03infrastructure uh need to support16:05measuring what is really important and16:08we'll come back towards16:09that we need to uh set the bar high for16:13the content that we create one thing16:15that we should do is think about it16:17people actually pay for this is this16:19valuable enough rather than something16:21coming out of Chet GPT without any edits16:25now really think about how can we create16:27better content16:29and with the buying Cycles now taking 1816:32to 24 months and 70% um of this buying16:37cycle being invisible we need to change16:40our thinking from short term to long16:43term so I really like this visual it16:46which is taking a look towards the16:48preferences on the buyer uh that are re16:51being built that lead towards decisions16:54and then in towards the buying process16:57and the decisions are happening mostly17:00before this first Contact that is there17:03so it's our task to uncover this layer17:06where the preferences are17:08built and we as marketing need to make17:12sure that we educate we entertain and we17:17Elevate and again we need to create17:19content that is valuable for our17:21audience create material that they want17:24to have build communities that are17:27connecting peers and Foster genuine17:33relationships about 10 years ago17:35respected to well respected experts in17:37marketing created a famous report and it17:40recommends the use of both short-term17:42and long-term strategies and I don't17:45think this is much new towards anybody17:47on this webinar but it REM recommends17:49the use of both short-term and long-term17:52strategies when it comes towards17:53advertisement investment and marketing17:55Investments you have the short-term17:57performance programs like like17:59advertising email Etc and all of that is18:01focused on efficient and immediate18:03return and then you have the long-term18:05brand building which really helps the18:08organizations to create long-term18:12exposure and we need to have the18:15combination of both and we need to seek18:18the right balance between those because18:20if you only do the first one the sales18:22activation we're not growing the base18:25and in order to grow the base we need to18:27have the right level of18:29building now to be Institute a respected18:33Institute recommends a18:3546% on brand versus activation that may18:39not may be the right number may not be18:41the right number I don't know but I18:43definitely recommend that you all take a18:45look towards how much do you invest in18:47your brand and how much do you invest in18:49towards demand gen so the way to look at18:52we building this marketing strategy is18:55uh aligning it towards the buyer18:57behavior that we said will split it into19:00our two parts the first part that I call19:03the early stage is focused on building19:05brand and preference and then the second19:08part the later stage is focused on DET19:11detection of these accounts and19:13Activation so let's first take a look19:15towards the early19:18stage these are programs that should um19:21influence the accounts before they're19:23willing to have conversations so this19:26means that we're actually injecting19:28ourselves in towards what six sense is19:31calling the dark funnel it's part of the19:33funnel before the buyer fills out any19:36form uh and so they are Anonymous at19:39this stage this is the part where the19:41buyers are doing their research without19:43the vendor being aware let's talk about19:45brand and19:46reputation programs that you can think19:49about are like sponsorships supporting19:52organizations that can provide in um19:55interest groups or policy groups and19:57others19:59get yourself involved in towards the20:01discussion and whether that is chime or20:04hyns or or other organizations that are20:07relevant for the market segment that you20:10cover um those are the type of things20:12you can think about genuine thought20:15leadership do research do your own20:18research and then through surveys and20:21interviews you can build Trend studies20:24and analyze what's happening in the20:26industry and with that you can create20:28unique content which is positioned as20:31thought leadership again content this is20:34the type of content that people say hey20:37this is really Irrelevant this is really20:38new I can't get this anywhere else and20:41they start associating that towards your20:44brand let's talk about the executive20:47relationships don't underestimate the20:49power um of your executive team schedule20:53executive lunches and dinners uh let20:55them travel uh around the country um and20:58let let them meet with customers and20:59Prospects organize21:03roundtables building a21:05community um for people who are dealing21:08with the same problem um whether they're21:10customer or not have a network and21:13invite speakers and create interaction21:16again getting Associated towards your21:18brand and then finally don't21:20underestimate the power of Gardner21:22Forester and particularly class work21:25with these analysts support these21:27analysts and explain the strategy that21:29you21:32have in the early stage what's our offer21:35and really it's about content21:37proprietary research which I mentioned21:39educational content offer analyst report21:42RFB templates and again build this21:45network Community where they can talk to21:48our peers irrelevant whether they're21:50customers or not and offer uh customer21:53dinners receptions and other build Effy21:56uh programs and referral campaigns so21:58that they interact with each other and22:01don't send out emails offering sales22:03calls in this early stage like and one22:06of the researches 41% of the buyers22:09stated I wish vendors sto contacting me22:12when I'm not ready to talk they were22:14reach out to you for22:16sure we are in a a specific industry and22:20I I really like this uh quote from Russ22:22brenzel who had a round table and some22:25of the results of this round table were22:26published two weeks ago you can read it22:29yourself on this on screen but I want to22:32give a little bit of background22:33specifically for the industry that we're22:34in like we spoke about the fact that22:37buyers are being frustrated in the22:38buyers process but this is specifically22:40a very tough time for our industry and22:43and so we need to think about that when22:45we are creating content how can we help22:48them to become successful how can we22:51help them to become the hero in their22:53organization and think about that and22:55keep this in mind when we're sending out22:57four emails in a week towards this22:59audience this group is totally23:01overwhelmed or the group of CIO23:03specifically with getting 4 to 60023:06emails from vendors per day they don't23:09have the time to open it let alone to23:12respond so if we're talking about the23:14later stage what are the considerations23:17here first of all just in general if you23:20ask any expert what is a good fit for23:22ABM they're looking towards B2B Focus23:25high value customer deals complex sales23:28cycles and a need for a highly23:31personalized Outreach we are a good fit23:34but it gets better Healthcare is a23:37finite market and let me talk about that23:39there is about23:415,129 hospitals in the United States23:45they roll up into ours system Affiliated23:47and independent in total they roll up23:50towards 2023 buying23:52entities and so for each and everyone23:55you can define whether this is Green23:57Field whether there is a compe ative23:58solution in place or whether it's a24:00customer so super transparent and really24:04a perfect way uh for ABM the roles of24:08personas in healthcare are reasonably24:10well defined uh there are some other24:13Industries like Banks and insurance24:15where the same title May May mean24:18something completely different in one24:20organization versus another in24:22healthcare is relatively24:24stable the teex stch information is24:27available if your we can buy that24:30through Solutions like definitive24:32Healthcare and if your solution works24:34really well with epic hey you can find24:37hospitals that are working with epic in24:39definitive you pull that list and that24:42becomes your24:44Target also in there you can find uh24:46contact information and finally there's24:49also clinical data available and let me24:52dive in towards that a little bit the24:54first time that I run a series The ABM24:56program uh and this was a nuance24:58our pricing model was based on Radiology25:01exam so I actually used definitive25:04Healthcare to pull out those hospitals25:07uh with the highest number of radiology25:09exam split it up by territory and25:11assigned that towards uh the Reps and25:14marketing run their campaigns on it and25:15the Reps were F focusing on that as well25:18and just that built a really good Target25:21group to go after but at the same time25:24and just I did some analysis how does25:26this compare towards the largest25:27hospital that without that data you25:29would think hey that's a logical way of25:31looking at it is a complete different25:33list so leveraging all of that25:35information that's available in our25:37industry really makes ABM a perfect25:41strategy to approach this market and so25:43no wonder when we surveyed the25:46healthtech marketing Network just two25:47weeks ago we saw asking our members we25:50saw basically only 8.1% saying that25:54they're not doing ABM the rest is either25:56thinking about it or uh has it already25:59in place also this it's my report that I26:02mentioned earlier uh that just became26:04available stated that 87 uh% um of the26:09responders say that the ABM budget uh26:13will increase um uh in 24 and no26:18surprise this is a best fit for ABM and26:21ABM delivers better Roi than the26:23traditional demand Jam26:25programs so let's talk about how do you26:28do ABM in five26:30steps you start um with your time total26:34available Market which is basically all26:36the organizations that you can sell into26:39or even better the Sam which is the part26:41that you can realistically Target and26:43serve uh with your products and services26:46then you work on segmentation you26:48prioritize the segments and then you get26:51into towards accounts uh selection and26:54and just take a back a step back when I26:56was talking about this Nuance example26:58hey we said hey they need to have a26:59radiology department and this is how how27:02we prioritize right then you start27:05building your buyers group think about27:07the role these personas play in the27:08buyers group build27:11personas understand what's important for27:13them and what would they do uh research27:16on then start building your content and27:20build this content specifically with27:22these personas in mind start mapping it27:24towards the personas and start mapping27:26it also towards the different stages27:28throughout the buyer's journey and now27:31you see where your gaps are and that's27:32what you can27:33fill once you've done that you get into27:36towards your engagement strategy how are27:38you using in a multi-channel approach27:42your email events digital advertising27:45traditional27:46advertising and other strategies also27:50think about the role of your bdr how can27:52they support your ABM initiative and27:55finally make sure that you measure27:58report and28:00adjust so implementing an ABM program or28:05initiative ensure that you have28:06alignment uh with sales and make sure28:09that you set the right expectations28:11involve them in towards the process28:14start small or run a pilot first be very28:18specific on the Target and we talked a28:20little bit about that already allocate28:22resources don't just say hey um we take28:25one demand gen programs manager and we28:28allocate the ABM program to him or her28:31be more specific you need to have in28:34order to run a successful ABM program in28:37your company you need to allocate time28:39for your marketing operations team they28:42need to create new reporting they need28:44to start tracking on an account level28:47you need to allocate time from your28:48product marketing team right now based28:51on the information that we gather new28:53content needs to be created sales28:56operations may be involved it's not just28:58one individual this has an impact29:00throughout your29:01organization as well as you may need to29:04have additional budget to support this29:07set goals ensure that you have the right29:09infrastructure in place to track uh and29:12don't uh expect uh shortterm result like29:14I said before set set expectations and29:18this is just because of the long sales29:20cycles that we talked29:22about so to conclude this session uh29:24this section of the presentation we need29:27a new playbook29:28that is a mix of building brand and an29:30ABM program or programs ensure that you29:34have compelling offers when you're when29:36their organizations that you're selling29:39into are building their preference so29:43that is primarily content but may also29:45be other uh ways we talked about29:47networking and other uh uh offers that29:50you have towards these organizations29:52build a balanced uh mix of exceptionally29:56strong content and be thoughtful how you29:59share that I know the form discussion30:01should we put a form for it is really30:03good content let's put a form for it but30:05if the people want to remain anonymous30:08and if they're in this stage that they30:10say I'm not willing to share my30:11information that means that you're going30:14to need to skip that so create an ABM30:19program focus on account selection30:21personas content programs and30:25Reporting let's talk about account based30:28measurement in 2017 the demand unit30:32waterfall was announced Terry FL and30:34Carrie kaham from serious decisions30:37announced that and this was after the30:39demand waterfall and the re architected30:41waterfall and I was super excited about30:43this because this really the account30:46ascentric no longer thinking about the30:48individual lead and we were one of the30:51first five organizations implementing30:54this at that stage there were no tools30:56to to get that support that we this is30:58all manly manufactured but why is this31:01so important because lead based tracking31:04falls short there is limitations when31:07you cap capture the early stage31:09engagement it's not necessarily an mql31:12so it's not relevant right and whereas31:15in account based uh models and31:17demand-based unit waterfall we are31:19tracking that you need to see this31:22Collective buying group influence and31:25you also need to measure true account31:28progression and we'll come back TOS31:30that so you start with total available31:33Market either the The Tam or the Sam31:37then you uh start looking at the account31:39progression stages and then you measure31:42account level engagement and you build31:45an complete view of account activity31:47going through these stages so let me31:49give you an example of how that would31:50look like so this shows the account31:53penetration from being in this Sam and31:57that number is fixed obviously and31:58there's not many new hospitals being32:00built and then getting in towards the32:02aware stage getting engaged and getting32:05mqa and Pipeline and so what is that it32:08is actually progress and the progress is32:11not always that number in one specific32:13section so in the aware section you see32:15it uh falling down so is that bad no32:17it's not bad on the contrary because32:19they're actually being pushed down lower32:21towards the32:23funnel right so my strong recommendation32:27is start tracking on an account level32:29even if you don't have sophisticated32:31measurement um you um or ABM software or32:35other tools you can start tracking the32:38interactions by account if you have five32:41people doing one thing individually they32:43may not pass of your lead scoring system32:46but it may be much more value than one32:49person doing something significantly32:51more and and so you can track this in32:54Excel yes it's manual work but you can32:56do this you don't need necessarily to32:58have the tools for that and you already33:00provide more value towards uh your sales33:02team and specifically towards the33:05bdr so let's talk about the ne marketing33:08measurement33:11framework it seemed better in this world33:14to produce 100 leads in the database33:16then create untracked awareness in33:18Thousand amongst thousand people and the33:20trouble with these real output metrics33:23in marketing is that they're incredibly33:25lagging right because of the Sal Cycles33:28taking longer and a higher ACV it's33:31getting even worse you may not33:33necessarily be able to immediately do33:35that in towards your report but why do33:38we measure it allows for better uh goal33:41tracking and alignment and allows the33:43team to set goals and track specifically33:45marketing goals it provides a unified33:47way of of your performance and helps the33:50teams to stay aligned on their targets33:53and you build like real time insight and33:56that will help on your decision- making33:57you can shift based on the actual34:00performance like one channel versus the34:02other and all of this will increase34:05efficiency and productivity knowing the34:07results and how it will improve and then34:10drive towards a streamlined process so34:15when we asked our network of the status34:18of their reporting for 75% of the34:21network it was limited towards campaign34:23results pipeline or less and when we34:27continue to to ask hey what are your34:29priorities for34:302025 we got interesting feedback that34:33surprised me 42% stated that they want34:37to develop marketing attribution in 202534:40and that is their highest34:43priority now let's talk about why people34:45Implement attribution Solutions34:48attribution to inform is good34:51attribution for credit is bad if you're34:53trying to prove that pipeline is being34:56generated by marketing more them by34:58sales and you start having fights35:00between marketing and and sales you have35:03already lost right and so then it35:05becomes sales versus marketing and sales35:08wants to do the same but if you want to35:11do attribution to inform to see hey35:15which channels perform really well or35:18which content which headlines perform35:20really well and do more of that then35:22it's an excellent implementation so keep35:25that in mind when you are thinking about35:27attribut and how to use it so overall uh35:31if you think about what are the metrics35:33that we should be tracking let's talk35:35about that so the tokens are completely35:37shifting right no longer we think about35:40mqls but think about hey how do we35:43create an opportunity and an opportunity35:46in the way that you'll be tracking that35:48today in Salesforce may change over time35:50you may say maybe there's even a stage35:53before this stage one that we have that35:55is more relevant for like Mark marketing35:58so call it state zero or01 whatever36:02think about the leads in the past no36:05longer relevant think more about the36:07buying group like from a single lead a36:10shift thinking towards multiple people36:12in the buyer36:13group think lead score that we have in36:16the past shift our thinking towards36:19signals and and no longer having this36:22threshold in place that holds leads into36:25towards marketing but do do not36:28necessarily give a better picture of36:29what's happening on an account36:32level so how do we put better uh frame36:35around that so and what are the things36:37that we want to measure on the early36:39stage think about signals now one signal36:43may not be interesting but multiple36:46signals from one account is very36:48valuable you can see what's happening36:50within an account and you can also see36:52when multiple people within that account36:54are36:55engaging think about third party36:58intent it's an indication of research so37:01does that map towards the signals and do37:03you see an intent and signals that's a37:06good37:07sign so if you have that available on37:10lead level some of the providers only37:12provide it on organization levels but if37:14you have it on lead level then take a37:17look towards it are there multiple lead37:19leads within this account that are have37:21demonstrating intent then it becomes37:23even more37:24valuable the anonymous traffic37:28like this is the traffic that you have37:30on your website before there is a form37:32fill take a look at reverse IP lookup37:36and again this provides you account37:38based information shows the level of37:41Engagement that group has with your37:45website and there's different vendors uh37:47providing Solutions here look towards37:50the participation of the buyers group do37:52you see multiple titles are there37:55certain titles missing and this is37:58perfect and we'll keep this discussion38:00for for another webinar but this is a38:03perfect way of re orchestrating the role38:06of the bdr the bdr can play a very38:09important role here and saying hey these38:11are the the people that are that we have38:14identified in the buying group they're38:15active but there's other people that we38:18would expect here that are not active38:21bdr can develop a broader picture of the38:23buyer group look towards brand voice38:26what is theand brand recognition within38:28your target group and how does this this38:31brand recognition evolve as a result of38:34all of your38:35initiative and then also executive touch38:38points we talked about that earlier and38:41it's a really important element and38:43don't hesitate to add that on towards38:45your metrics and then on the later stage38:48you have your mqas your form fills38:51attending the webinar requesting demos38:53visiting booth and38:55others now if we think about the way38:59that we would report that I always think39:02about three different dimensions in39:04reporting one is the audience for who39:07are we creating a report two is the39:11frequency how frequently do we make this39:14report available and three is the39:17dynamic is this a status report of what39:20is the current pipeline for instance or39:24is this a progress report how much39:26pipeline did add during last week so39:29keep these three dimensions in place39:31when you're building your reporting39:33infrastructure and within the audience39:35for a sales team it may be daily account39:38insights and I'll show an example of39:41that shortly for your sales Executives39:44maybe very different story here you want39:46to demonstrate hey what's the level of39:48Engagement of the different people in39:50the sales team and are some of the sales39:53reps making better progress with the the39:55signals that you provide than others39:58and with the marketing team take a look40:01towards the effectiveness of the the40:03programs uh which channels are40:05performing which channels are not40:07looking at that by cost and prioritizing40:11and adjusting and then for the executive40:13team and for board level like the40:17example that I shared earlier where you40:19take a look towards hey what's the40:20progress within the Tam What's the40:22progress within the40:23Sam on frequency level obviously you40:27have different times I'm not going to go40:29through that that speaks for itself but40:32there's also this notion of realtime40:34reporting and some of that is really40:36relevant I'll give an example of that in40:38this40:40presentation so this is how that you see40:43a an example of daily information40:46account insight for sales and field40:48marketing hey there is intent yet you40:51see the displayed here and then you see40:54also uh web visits you actually see the40:56pages40:57uh and when we have the data available41:00uh and this is a screenshot out of41:02demand base when the data is available41:04would actually show up what is the41:06account or even the name of the account41:08in there so for one account you see to41:11complete a journey both from a marketing41:14uh perspective as well as a sales41:16perspective so you see the uh sales41:19engagement as well as marketing so this41:22becomes really valuable and obviously41:24with more activity there's going to be41:25more on this chart to see hey these are41:28the right next steps to do based on the41:30level of activity based on the content41:32that they have already downloaded we41:35would expect that this is the right next41:38piece of content that we would serve41:40towards this41:41person so the conclusion of this section41:45shift your thinking towards accounts and41:48signals build a a reporting framework to41:51track the results of early stage looking41:55around The Branding and later stage41:57looking towards ABM and then in your42:00reporting framework think about audience42:02frequency and42:05dynamic so as we get towards the last42:07part of the presentation we'll talk42:09about the implementation42:11guidelines so on the technology stack42:14there's certain considerations first of42:17all you need to build a road map for42:19marketing TX deack where are you today42:22and where is it uh where you want to42:25go evalu the integration requirements in42:30order to be meaningful the different42:32Technologies need to be integrated with42:34each other but also need to be42:36integrated with other systems outside of42:38your department CRM is like a perfect42:40example maybe owned by sales or maybe42:42owned by it you would need to partner42:45with other departments like it security42:48and they may have certain decision42:50criteria that you need to keep in mind42:52as well start building your decision42:56criteria and42:57the factors that are important in your42:59technology stack before you start43:01talking towards vendors hey do we want43:03to cover International is43:04internationally important part of this43:06do we want to cover multiple products is43:11our thinking more buying group Centric43:13or more opportunity Centric and so all43:16of these considerations may lead you in43:18towards a certain path and and when43:20you're thinking about an ABM platform43:22you may say we want to do ABM we will be43:25using a platform that or we be using43:27individual applications and if you think43:30about the individual applications what43:32are the different applications that you43:34need and I list them out there and I43:35have a the next slide I'll go that in43:38towards a a slightly level deeper and43:40it's not just about the the technology43:44it's also about Staffing to support that43:47technology obviously you need people43:49like a marketing operations team that43:51will help43:53you so looking towards the platform you43:56have sense demand base and there are43:58some others out there and then you can44:01you see here in this chart which was44:03published by Adam scheld I think two44:06weeks ago hey you can build and and cob44:09this together as a result of the all44:11these different applications each44:13organization is different it may have a44:16philosophy you may be limited as a44:18result of the marketing and and Staffing44:21that you have but like I stated before44:24the security may also have certain44:27requirements and remember all of this44:30then still need to integrate with your44:32website with your CRM and maybe with a44:34number of other applications as well hey44:37Mark a question came up here from ker44:40Souza how do you recommend tracking44:42signals intent and engagement activity44:45without a budget for a tech can it be44:47done effectively I I think the reason I44:50popped it up now is I thought your44:52unbundled actually might be a way of44:54doing it because you don't have to go44:55spend 50 to $100,000 on a demand base or44:58something like that you can buy it in45:01pieces right one you can buy it in45:03pieces but you may have already your45:07Market marketing uh platform may already45:10provide you the right level of45:13information it's just not representing45:15it in the right way and let me give you45:17a perfect example if if you're using an45:20email uh tool like HubSpot or maretto45:24that tool will actually if you have a45:27cookie on your website it will track45:29information uh from web visits it's not45:32representing it in the right way that is45:35one of the challenges because it's still45:36working on a lead level but I've seen45:39examples where organizations will say45:41this is so critical for me that they are45:43pulling that data and then put it in45:46towards Excel and share that with sales45:49is it painful absolutely but I think one45:52path would be where you start proving45:54the value of this data for a couple of45:57weeks or maybe even for a month and then45:59after that reconsider having a dialogue46:03with your executive team on allocating46:05budget towards this like not everything46:08needs a new tool in the metrics that I46:10share and then thinking about the46:12technology when you're rolling it out46:14think about the priority of reports and46:17this is really about storytelling it's46:19important that you keep in mind the way46:22that you're telling the story towards46:24your audience it's also critical that46:27you have one data source don't start46:30building your own pipeline in a46:32different tool or don't start reporting46:35information that the sales leader has in46:37towards a different spreadsheet and you46:39come towards a meeting a staff meeting46:42and you have different data than the46:44sales leader and then you need to figure46:46it out during that meeting nothing more46:48inod than having those discussions at46:50that level right so use one data source46:53and make sure that there's consistency46:54in the data reporting we talked about46:57Staffing and I think is a really46:59important Concept in towards it more47:02data isn't necessarily always better47:05that I've seen every time that I47:07implemented any type of reporting47:09infrastructure if you give out a report47:11people want to have more data it feels47:15like a bad addiction but it doesn't47:17always get better so be careful with47:19what what you share with who you shared47:21and for what reason you shared it that's47:23why I shared with you earlier this free47:26dimension framework so you can Define47:29hey this is the type of reports that I47:31that I shared and then finally having47:35numbers isn't always having answers47:38don't forget to talk towards customers47:40don't forget to talk towards an47:41individual sales rep and get their47:43perspective on it right so don't start47:46um sitting in the Ivory Tower and think47:48that all the data will provide all of47:50the answers to wrap this up we covered47:53today a new playbook and if you want to47:56be SU successful in marketing Healthcare47:58technology you need to think about this48:00new playbook H as and as we about to48:02enter this New Year think about the48:05journey to get there think about your48:07staff think about your technology stack48:09and think about the relationship and the48:11support that you have within your48:13organization with your sales leader how48:15do you build a journey to be successful48:18in the new the next three years if you48:21want to talk about that this is the way48:23to contact us and from here we go into48:26our he yeah just go back to the S go48:29back to the contact slide if you would48:31just wouldd love to entertain your48:33questions that was an incredible amount48:36of information in fact when Mark and I48:38were going through it thought maybe we48:40should actually do this as three three48:41webinars but we wanted to go ahead with48:44what we proposed so I think there's a48:46lot to process in there put your48:48questions in there but as you think48:49about this you might have things that48:51come up and you want to talk to us about48:53it have a chat with Mark have a chat48:55with me this is something that you're48:57thinking about moving down the path with49:00now you're thinking yeah maybe we should49:03really take ABM seriously in 2025 or we49:07want to think about moving to a49:09measurement which is more account based49:10and more Bier Journey based we'd love to49:13have a chat with you about that just if49:15nothing else just to hear what you're49:16dealing with and we can share some ideas49:18not it's not necessarily a sale call49:20sales call just an opportunity to talk49:23to help you two ways you can do that49:25email me at Adam health launchpad.com or49:28mark. aoic health launchpad.com you can49:31always find us and DM us through49:34Linkedin or through our website where49:36there's contact as for so if there are49:39there any other questions out there with49:41thank you Carrie I really appreciate49:43that49:47question all right unless there's any49:50other questions I think what we'll do is49:52we'll give everybody back the last few49:53minutes and I hope you guys found this49:56useful we found it incredibly useful49:59putting this presentation together50:01because it gelled a lot of the things50:04that we've been thinking about and it's50:06helping us freshen up the way that we50:08think about the work that we're going to50:10do with clients in 2025 so with that I50:14want to thank Mark for the hard work and50:17the insights I learned a lot and50:20actually there is a question here from50:22capil capil and then which is are there50:25any benchmarks50:27for conversions to for mql to customers50:29especially since s Cycles are so long if50:32we have your registration details I not50:35on top of mine but I may have something50:37that could be useful for you I'll reach50:39out to you person yeah capil if if you50:41don't hear any hear something I'm sure50:43you will but go ahead and email mark.50:46health lab.com or email me and I'll make50:48sure he gets that but with that I want50:50to thank you all for attending I was50:53looking at the numbers and seems like50:55there's a core of people who stuck with50:56it's a whole way through which is always50:58wonderful so I'm sure you found this51:00useful I want to wish everybody a happy51:03holidays and we'll see you in the new51:06year with lots more stuff like this we51:09got tons more ideas on things that we're51:11going to be sharing in 2025 so with that51:13again thank you Mark and thank you all51:15for attending thank you51:20all oh Mark there is a question here51:22actually can you share examples of heal51:24Tech M Expo or can you email separately51:27why don't you I I don't know who that's51:28from the LinkedIn user so why don't you51:30email Mark51:33separately great thanks
8,097 words · 1212 lines
