Healthcare IT Revenue Strategies that Drive Steady Growth

What healthcare technology company CEO, President, or Management Director wouldn’t want to see a growth in their revenue? In a competitive landscape, with long-sales cycles, one of the best ways of boosting revenue growth is by applying healthcare IT revenue strategies. A novel marketing and sales methodology called ‘Inbound’ is just that. According to Hubspot, 49.7% of companies using Inbound marketing and sales increase their sales within 7 months! Traditional marketing and sales tactics such as print ads, website pop-ups, self-promotional email newsletters and blasts, trades shows, cold-calling and general product demos involve trying to present your brand to people who may or may not be interested in your healthcare technology solution just yet. On the contrary, healthcare IT revenue strategies help draw in qualified people using educational content that addresses customers’ specific needs. Healthcare IT revenue strategies help generate qualified traffic to your site, create brand awareness, enhance the sales process, and boost your revenue.

Here are 6 healthcare IT revenue strategies that affect your revenue growth in the health technology industry:

Getting clear on who your ideal customers are

Ideal customers are different for every business. A buyer persona is a fictional character that represents your healthTech company’s ideal customer. Extensive understanding of your buyer personas will help your marketing and sales teams create content that is relevant to your personas’ needs, which will attract more prospects and increase the customer closure rate. According to Salesforce, it’s important to consider the following issues when creating Buyer Personas:

• Success factors – What tangible or intangible rewards does the prospect associate with success?
• Perceived barriers – What business or personal barriers would cause the prospect to choose your competitor?
• Change drivers – What events trigger a change in a prospect’s behavior, and need for change?
• Buyer’s journey – What questions does the prospect ask throughout their entire buying process?
• Priority initiatives – How does the prospect invest their budget and time?
• Decision criteria – What is the prospect’s process of decision making?

Developing a content strategy

After creating Buyer Personas, you can work with your marketing and sales people to come up with a content strategy that would attract prospects to your site, convert them to leads and eventually turn them into customers. Make sure your content answers the most common questions asked by your prospects and contains keywords most often searched by your ideal buyers. Publishing optimized content on your site regularly will boost your search engine ranking and attract more organic traffic. In addition, it will establish your healthcare technology company as an authority in the industry and help win the trust of your prospects. You can create content such as blog posts, eBooks, white papers, infographics, reports and case studies that will both educate your prospects and draw them to you for more. Sharing your content on social media will help you reach an even wider audience and enhance the chances of revenue growth.

Crafting effective landing pages

What is the point of increasing your traffic to your website if your visitors come, leave and never come back? You need to convert these visitors into leads by capturing their personal information. Doing this will require creating a landing page where newcomers can submit their details in exchange for a freemium content such as an eBook, white paper or report. Make sure your call-to-action is punchy enough to create a sense of urgency and compel the prospect to take action. ‘Download your free guide now!‘ and ‘Get your free eBook today!‘ are examples of well-crafted CTAs. A recent report by HubSpot revealed that companies with 40 or more landing pages get 12 times more leads than those with 5 or less.

Nurturing your leads carefully

After collecting contact details, your sales team should take time to nurture your prospects continuously via email until they convert to customers. You can use tools such as Marketo, Eloqua, Customer.io, Constant Contact and Hubspot to automate your lead nurturing campaigns. To maximize click-through rates, be sure that all emails are personalized with ‘From’ fields that have your salespeople’s names and email addresses. The subject lines should create a sense of excitement and urgency. Don’t forget to include a clear call-to-action (CTA) in all of the emails. The CTA should appear clearly in the lead nurturing emails to enhance chances of getting clicked. To reach an even wider audience, your emails should contain social sharing buttons. Most email marketing tools have templates that come with built-in social sharing buttons. The most important thing to keep in mind is providing value. Sending teasers to blog articles and free premium content that directly relate to the buyer persona receiving the email is a great way to engage them on a weekly basis.

Creating mobile accessibility

According to ComScore, people spend an average of 69% of their media time on their smartphones. Therefore, it is very important to optimize your website design for mobile devices just as you do for computers and tablets. Your web dev team should make sure that the CTAs are large enough to click and positioned above the fold to make them visible on mobile phone browsers. The content should be kept short and not cluttered with images. Text on mobile devices should be large enough for users to read without straining their eyes. Pop-ups and flash should be avoided since they will only distract visitors from your content, and the navigation should be simple and intuitive.

Measuring the impact

To maximize your return on investment (ROI), be sure to keep track of marketing metrics such as total site visits, channel specific traffic, bounce rate, total conversions, lead to close ratio, customer retention rate and customer acquisition cost. Following these metrics will give you an idea of what needs to be improved or changed in order to boost revenues. Tools such as Mixpanel, Heap Analytics, Kissmetrics and Kapost’s Content Scoring are great for measuring different metrics and efforts.

The bottom line

As important as it is to any business, healthcare IT revenue growth doesn’t happen overnight. It takes healthcare IT revenue strategies. Unless you focus your marketing and sales efforts to the right audience, it will be very difficult to close any sales and have a significant revenue. However, with Inbound Marketing and Sales you will be able to attract qualified leads, nurture them to become your customers and turn them into advocates of your healthcare technology product or service. We’ve helped many company leaders to enhance their marketing and sales processes by implementing Inbound strategy and support. Feel free to reserve your free strategy session now to help you evaluate your assets and gain free insights and suggestions to boost your revenue!