ABM Strategy in Healthcare: A Quick Overview

Apurva Pathak | July 5, 2022 | 256 views | Read Time : 03 min

ABM Strategy in Healthcare
Account-based marketing in healthcare helps marketers reach institutional decision-makers based on intent and target accounts. However, ABM becomes a bit more complex in the healthcare domain where the needs, regulations, and procurement processes vary widely, and so do the ways healthcare providers communicate. For an ABM strategy to work in this domain, effort, time, tailored content, and deep customer insights are necessary.

ABM Strategy in Healthcare

Here are the co-ordinated steps you need to take to implement ABM in the healthcare domain:

Getting Buy-in

Get buy-in from sponsors at the highest level and coordinate with functional stakeholders. Create client-centric teams and decide on KPIs that matter.

Identify Key Accounts

With the help of sales representatives and relationship managers, identify key HCP accounts that can benefit from your ABM strategy.

Conduct Extensive Research

Deep-dive into research on these key accounts, their history, buyer journeys with you. Find out their current and future needs and issues, and their status within the market.

Tailor Your Content

The research will help you tailor the content for your content marketing strategy. Address the decision-makers with content that solves their pressing issues to get the conversions you want.

Analyze & Adjust the Strategy

Analyze campaign results from time to time (preferably quarterly). Based on your identified KPIs, check what is working and what isn’t bringing the expected results. Adjust your strategy accordingly.

What to Expect from ABM in Healthcare?

Salesforce recently conducted research among healthcare marketing professionals. The results showed that 70% believed connected customer journeys positively impacted client loyalty and willingness to recommend products to others. So, ABM could be a great way to increase your revenue and get a higher ROI as compared to any other marketing strategy.

Spotlight

Peter Mayer

Peter Mayer is an independent, integrated marketing agency founded in 1967 and headquartered in the cultural hotbed of New Orleans. We use cultural insights and a 360-degree conceptual approach to connect brands with people.

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Intent Marketing: Removing Guesswork Out of Marketing

Article | February 10, 2022

In 2018, Demand Gen Report’s ABM Benchmark Survey found that 25% of participating B2B companies used buyer intent data and monitoring tools. 35% of them planned on using intent data within a year. Cut to 2022, and about 99% of B2B marketers are using some form of B2B intent data in their marketing campaigns to target accounts (Source: InboxInsight). In his exclusive interview with Media 7, Gil Allouche, CEO of Metadata.io, talked about how data helps convert leads. “With access to valuable data, marketers are focused on leads that are more likely to become buyers. They can also work on targeting their messaging towards these potential buyers.” Buyer intent data helps in creating a robust foundation for your marketing efforts. Let us look at how intent marketing can help you get the sales and ROI you desire. Intent Marketing: The New Normal in B2B Intent-based marketing uses consumer data that signals purchasing intent through consumption of relevant content like blogs and infographics; product comparisons; product reviews; message boards; case studies; and news. Through this data, you can find out what your prospects are looking for, which stage of the customer journey they are in, if they are researching solutions or ready to make a purchase, and what kind of steps you can take to get in front of them. One of the most important benefits of intent marketing is that it removes the guesswork out of your marketing campaigns and ensures that you are targeting the correct prospects. This targeting can be done through either intent-based branding or intent-based marketing. Intent-based branding decodes the behavior of your target audience online while intent-based marketing harnesses data on the prospect’s buying behavior so you can tailor your marketing offerings accordingly. Consequently, your sales cycle is shortened. Power-up Your Content Strategy The biggest challenge B2B marketers like you face today is to cut through all the noise and create an impact on their prospects. Consumers have a host of content options. However, they do not want to consume unnecessary information. When the content is personalized to match their needs and goals, they are more likely to engage with it. Intent data helps you plan your content as it provides you with information on the theme, buyer personas and their behavior, buyer journey maps, content formats, copy, call to action (CTA), and keyword strategy that will best suit your prospect targeting efforts. An intent-based content strategy can deliver leads while increasing conversion rates and sales. It can give you the competitive edge you need to influence your prospects at the right time. Drive Sales and ROI Intent marketing brings in more conversions on landing pages and overall higher traffic and qualified leads to your website. It uses intent information to recruit engaged prospects for sales demos and events. It helps sales teams to effectively rank their leads and accounts so that they can focus on the right leads at the right time and not miss out on any sales opportunities. Your sales teams can execute effective nurture campaigns and create sales pitches with messaging that appeals to a target account’s buying committee. This messaging addresses the account’s pain points and requirements and accelerates the buying decision. Additionally, intent marketing helps improve customer retention rates and makes it easy for teams to identify cross-sell and upsell opportunities. It takes into consideration the existing customers’ signals to find any at-risk accounts to prevent churn and increase renewal. Data-driven Marketing Personalization Intent data makes it easy to personalize your marketing efforts and provides an accurate report of prospective signals, their needs, and interests so that you can segment and categorize them. Once this segmentation is done, you can determine what kind of content needs to be created and displayed for these accounts depending on their position in the buying cycle. With this kind of personalization, your target audience gets to know that you care about them and you can connect with them on a deeper level. Increase ABM Efficiency B2B buyer intent data helps your marketing, sales, and customer success teams align their goals so that they can agree on target accounts, establish lead hand-off processes, and diversify investments to target newer, relevant accounts while maintaining the current customer list. Intent data provides marketing intelligence for creating ICP in marketing, messaging, and brand positions for B2B account-based marketing. 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TARGETED ACCOUNT STRATEGY

Account Selection: How To Win Before You Start

Article | January 11, 2022

The first step in any account based go-to-market program is to create a target account list. Whether based on a formal Ideal Customer Profile (ICP) or not, the target account list represents an organization’s definition of the best accounts and those most likely to become customers. But in reality, marketers really only communicate with a subset of the account list at any one time, and even struggle to cover the full list over the course of a year.

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5 Steps for Succeeding in Account-Based Marketing

Article | November 26, 2021

Relative to the mass-market approach of the B2C world, B2B promotion requires a much more targeted approach. The customers are fewer and more discerning but commensurably more valuable and enduring so whether you’re trying to win over a new client or simply keep an existing client on your side, you need to be very careful with what you’re putting out. This is the reasoning behind account-based marketing, otherwise known as ABM. Instead of distributing generic marketing materials, it picks out specific prospects (or sets of prospects grouped by various shared elements) and creates personalized campaigns to suit them. It can be extremely cost-effective, but it needs to be done smartly (which isn’t easy). To help you run a flourishing account-based marketing campaign, we’re going to look at five steps you should take along the way.

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How to Successfully Set Up and Measure Your Account-Based Marketing Strategy

Article | February 10, 2020

The first lesson in this article is to stop thinking differently about ABM and B2B. Sangram Vajre is spot on when he exclaims that “ABM is B2B.” There is no real difference. Whether named or unnamed, every single campaign you launch as a B2B marketer caters to personas in different accounts. Another reality about account-based marketing is that due to the nature of omnichannel marketing and the fact that every prospect does its own research, you’re going to have to process different sets of traffic no matter how much control you think you have over your funnels. With these two things in mind, let’s look at what’s common in a successful ABM strategy, and also how to segment your audience in a way that tells the story of all the steps in your user acquisition models.

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Peter Mayer is an independent, integrated marketing agency founded in 1967 and headquartered in the cultural hotbed of New Orleans. We use cultural insights and a 360-degree conceptual approach to connect brands with people.

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Bombora | December 01, 2022

Bombora, the leading provider of B2B Intent data solutions, today announced that it has hired Jeff Marcoux as Chief Marketing Officer and Elena Drozd, Ph.D, as Vice President of Data Science. Marc Johnson, the current CMO & GM, will shift to the role of Chief Operating Officer. Marcoux, a veteran marketer who has twice worked with Bombora as a customer, has been working closely with Bombora’s marketing team as a consultant for the past year. Prior to that, he was Head of Product & Vertical Marketing at Icertis. He has also held leadership roles at TTEC and Microsoft. Marcoux is also a professor of marketing at Oregon State University, teaching advanced digital marketing and demand generation courses. Drozd joins Bombora from Oracle, where she most recently served as Senior Director, Data Science & Advanced Analytics. Across more than 16 years with Oracle, Drozd built and managed a global team of data scientists, data engineers, and marketing analysts. At Bombora, she will oversee the proprietary and patented methods and models that make Bombora the only company to witness the complete buyer’s journey across its data cooperative. Johnson joined Bombora as CMO & GM in 2016 and has built the company into the most widely known and respected brand in the B2B data space by making the Company Surge® product synonymous with Intent data. As COO, he will focus on alignment and operational efficiency across the company. “Data has never been more important to the sales and marketing professions, and Bombora plays an important role in helping B2B organizations unlock their potential through insights,” said Erik Matlick, CEO and co-founder of Bombora. “Data has never been more important to the sales and marketing professions, and Bombora plays an important role in helping B2B organizations unlock their potential through insights,” said Erik Matlick, CEO and co-founder of Bombora. “As former customers, both Jeff and Elena have seen firsthand how our unique product can drive results across an enterprise. Meanwhile, Marc has been instrumental in the company’s growth, in terms of both reputation and the bottom line. These are three incredibly critical roles and I’m grateful to have such exceptional talent and experience to add to our organization.” The new hires come on the heels of a strong year that saw Bombora recognized by some of the advertising and technology world’s biggest awards. In November, the company was the gold winner for the top small- and medium-sized business marketing program in the 25th Annual Marketing Excellence Awards from Momentum ITSMA. Earlier this year, Bombora was named one of AdExchanger’s 2022 Top 50 Programmatic Power Players. The company was also a finalist in the Digiday Technology Awards in the Best Data Team category and the Adweek 2022 Readers’ Choice: Best of Tech Partner Awards. Bombora’s Company Surge® data tells marketing and sales leaders about which businesses are researching the products or services that they and their competitors sell. With this understanding, sales and marketing teams can be more relevant and consistent and improve performance across all activities. About Bombora Bombora tells businesses which companies are researching their products and services. With this understanding, sales and marketing teams can be more relevant and consistent and improve performance across all activities. This intent-driven approach revolutionizes the way businesses market and sell to other businesses through transparent data built on an ecosystem of quality, collaboration and innovation. With direct integrations with dozens of leading data and media-buying platforms, Bombora is building a world in which business buyers value sales and marketing for its relevance, timeliness and accuracy. To learn more, visit www.bombora.com.

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81 Percent of Hoteliers See a Lift in Revenue Once a First-Party Data Strategy is Implemented

Sojern | December 02, 2022

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About Sojern Sojern is the leading digital marketing platform built for travel marketers. Powered by artificial intelligence and traveler intent data, Sojern provides multichannel marketing solutions to drive direct demand. 10,000 hotels, attractions, tourism boards and travel marketers rely on Sojern annually to engage and convert travelers around the world. About Benchmark Research Partners Benchmark Research Partners conducts studies to help industry participants and technology innovators understand market changes and opportunities through peer benchmarking data.

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Outreach Introduces Quarterly Sales Confidence Index, Revealing Optimistic Forecast

Outreach | November 14, 2022

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Bombora Hires Jeff Marcoux as CMO and Elena Drozd as VP of Data Science

Bombora | December 01, 2022

Bombora, the leading provider of B2B Intent data solutions, today announced that it has hired Jeff Marcoux as Chief Marketing Officer and Elena Drozd, Ph.D, as Vice President of Data Science. Marc Johnson, the current CMO & GM, will shift to the role of Chief Operating Officer. Marcoux, a veteran marketer who has twice worked with Bombora as a customer, has been working closely with Bombora’s marketing team as a consultant for the past year. Prior to that, he was Head of Product & Vertical Marketing at Icertis. He has also held leadership roles at TTEC and Microsoft. Marcoux is also a professor of marketing at Oregon State University, teaching advanced digital marketing and demand generation courses. Drozd joins Bombora from Oracle, where she most recently served as Senior Director, Data Science & Advanced Analytics. Across more than 16 years with Oracle, Drozd built and managed a global team of data scientists, data engineers, and marketing analysts. At Bombora, she will oversee the proprietary and patented methods and models that make Bombora the only company to witness the complete buyer’s journey across its data cooperative. Johnson joined Bombora as CMO & GM in 2016 and has built the company into the most widely known and respected brand in the B2B data space by making the Company Surge® product synonymous with Intent data. As COO, he will focus on alignment and operational efficiency across the company. “Data has never been more important to the sales and marketing professions, and Bombora plays an important role in helping B2B organizations unlock their potential through insights,” said Erik Matlick, CEO and co-founder of Bombora. “Data has never been more important to the sales and marketing professions, and Bombora plays an important role in helping B2B organizations unlock their potential through insights,” said Erik Matlick, CEO and co-founder of Bombora. “As former customers, both Jeff and Elena have seen firsthand how our unique product can drive results across an enterprise. Meanwhile, Marc has been instrumental in the company’s growth, in terms of both reputation and the bottom line. These are three incredibly critical roles and I’m grateful to have such exceptional talent and experience to add to our organization.” The new hires come on the heels of a strong year that saw Bombora recognized by some of the advertising and technology world’s biggest awards. In November, the company was the gold winner for the top small- and medium-sized business marketing program in the 25th Annual Marketing Excellence Awards from Momentum ITSMA. Earlier this year, Bombora was named one of AdExchanger’s 2022 Top 50 Programmatic Power Players. The company was also a finalist in the Digiday Technology Awards in the Best Data Team category and the Adweek 2022 Readers’ Choice: Best of Tech Partner Awards. Bombora’s Company Surge® data tells marketing and sales leaders about which businesses are researching the products or services that they and their competitors sell. With this understanding, sales and marketing teams can be more relevant and consistent and improve performance across all activities. About Bombora Bombora tells businesses which companies are researching their products and services. With this understanding, sales and marketing teams can be more relevant and consistent and improve performance across all activities. This intent-driven approach revolutionizes the way businesses market and sell to other businesses through transparent data built on an ecosystem of quality, collaboration and innovation. With direct integrations with dozens of leading data and media-buying platforms, Bombora is building a world in which business buyers value sales and marketing for its relevance, timeliness and accuracy. To learn more, visit www.bombora.com.

Read More

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81 Percent of Hoteliers See a Lift in Revenue Once a First-Party Data Strategy is Implemented

Sojern | December 02, 2022

Sojern, the leading digital marketing platform built for travel, today released the findings of a 2022 survey to discover “How Hotel Brands Are Using First-Party Data to Drive Revenue and Build Stronger Relationships.” The study, conducted by Benchmark Research Partners with global hotel executives, sought to understand how hotel marketers are thinking about and using first-party data to inform go-to-market efforts. When surveyed about measures of success for their businesses, 81 percent of hoteliers said they have seen a lift in revenue as a result of implementing a first-party data strategy. Hotel executives from the largest global brands were surveyed with 57 percent having seen a lift in guest satisfaction at their properties. Findings found that 59 percent of hoteliers have already implemented a first-party data strategy, and 62 percent say it’s “very important” to digital marketing, while 75 percent of those who have not yet built a first-party data strategy want to build it. Of those who have established a first-party data strategy, it was primarily to maximize campaign performance (73 percent), build stronger customer relationships (67 percent) and maximize overall revenue growth (67 percent). Further findings demonstrate that hoteliers have adopted first-party data strategies not only because they saw the monetary benefits, but also the positive impact on customer satisfaction. Of those surveyed 86 percent saw a first-party data strategy as being effective in maximizing overall revenue, 76 percent in increasing campaign performance, 68 percent in building stronger customer relationships and 64 percent in increasing brand value. Future-proof marketing: Activating first-party data to increase bookings “It's no surprise that three quarters of hotel executives want to build a first-party data strategy. Personalized engagement with consumers is a powerful tool for understanding traveler behavior and creating digital campaigns that deliver the right message at the right time. Marketers must make collecting privacy-friendly 1st party data like hashed emails a priority to power their personalization strategies,” said Kurt Weinsheimer, Chief Solutions Officer, Sojern. “ Marketers can then use their first-party data to learn about their audiences—their interests, search behaviors and travel preferences—to ultimately deliver a relevant, seamless customer experience. With Google phasing out third-party cookies in the second half of 2024, a 1st-party strategy also prepares for this change.” “With the deprecation of third party cookies on the horizon, leveraging first party data is at the center of our audience strategy,” said Jacquelyn DiStasi, Senior Director, Digital Analytics & Optimization from Wyndham. “We invested early in a CDP to ensure we would be able to future-proof our media activation and prevent loss as data collection practices evolve. This shift has enabled us to be more effective and efficient with our spend, leading to better returns for Wyndham. We would highly recommend investing in a first-party data strategy to augment your media practice and partners like Sojern allow for continued growth and enhancement.” In addition, of those hoteliers who have already built their strategies more than two-thirds feel confident they will get more out of it in 2023. “With a cookieless world coming, it will disrupt the entire industry, and marketers must use this time wisely to prepare,” adds Kurt Weinsheimer. “It's a great opportunity for the industry to rethink data strategies, but this requires a new mindset. Rather than marketing to the cookie, travel brands can use the opportunity to use people-based marketing across devices. At Sojern we’re already helping hoteliers build their first-party strategy to unlock customer loyalty and drive profitability.” Supplementing first-party data with a specialist like Sojern After fifteen years supporting travel, Sojern is well versed in helping partners build long-term strategies to stay ahead of changes in the digital landscape. Knowing that direct bookings are the best way to build brand trust, loyalty and profitability, marketers are encouraged to build relationships with their customers to increase the engagement, efficiency and effectiveness of travel marketing strategies. Developing a first-party activation strategy with a trusted travel marketing partner across channels and devices to drive direct bookings is key to that success. To see the survey methodology and download the full Hotel Benchmark Report on how hoteliers can unlock the power of personalisation and privacy through first-party data, click here. About Sojern Sojern is the leading digital marketing platform built for travel marketers. Powered by artificial intelligence and traveler intent data, Sojern provides multichannel marketing solutions to drive direct demand. 10,000 hotels, attractions, tourism boards and travel marketers rely on Sojern annually to engage and convert travelers around the world. About Benchmark Research Partners Benchmark Research Partners conducts studies to help industry participants and technology innovators understand market changes and opportunities through peer benchmarking data.

Read More

TARGETED ACCOUNT STRATEGY

Outreach Introduces Quarterly Sales Confidence Index, Revealing Optimistic Forecast

Outreach | November 14, 2022

Outreach, the leading sales execution platform helping revenue organizations create and close more pipeline, today introduced the results of its first Quarterly Sales Confidence Index. Based on a survey of 504 B2B sales leaders in the U.S. and U.K. at the end of September, the index reveals that 85% of respondents expect next quarter's revenue performance will increase from the previous quarter. Respondents cited the following reasons for their bullish outlook: "introduction of new offerings" to sell, "introduction of new sales technologies", "change in sales processes", "customer buying intentions", and "overall sector performance." Increased Investments in Sales Technology The 2022 Fall report dove into the top question on sales leaders' minds – how will our company increase seller productivity in the current down market? Outreach's Sales Confidence Index revealed 94% of respondents are prioritizing investing in sales technology, sparking a trend that companies will redeploy headcount budgets to technology in order to help increase revenue and forecast accurately. Outreach also recently discovered in a separate survey that 50% of respondents are actively consolidating or planning to consolidate their tech stack and 73% of leaders agree with the statement "We strongly prioritize choosing sales technology vendors that offer multiple products in an effort to minimize the number of vendors we use." These findings pose a large opportunity for companies to look toward a strategic platform approach that will solve their challenges across the sales journey from the Sales Development Representative (SDR) to the Account Executive (AE) to the Chief Revenue Officer (CRO). "In today's economy a global economic downturn has become a reality, and companies are looking to find ways to create and close pipeline faster," said Mary Shea, VP, Global Evangelist at Outreach. "In today's economy a global economic downturn has become a reality, and companies are looking to find ways to create and close pipeline faster," said Mary Shea, VP, Global Evangelist at Outreach. "Sales leaders are optimistic their sales teams will end the next quarter positively and a guiding force behind this success is a platform approach that helps companies close efficiency gaps and increase revenue. To prepare for what comes next, it will be necessary to equip every member of the GTM team with seller-first technology that has embedded automation and AI to maximize organizational efficiency and effectiveness." Continued Digitization of Sales Organizations across sectors had to digitally transform over the past few years and sales teams were no different. Sales teams were used to in-person meetings with clients and had to quickly adapt to digital selling. Approximately one fifth of respondents to the Sales Confidence Index survey are only meeting customers via video meetings, while more than half of respondents are mostly meeting customers through a video meeting platform with some in-person meetings. Only one percent of respondents are only meeting customers in person. Diversity, Equity, and Inclusion Programs Positively Impact Retention Additionally, Diversity, Equity, and Inclusion is becoming a more significant factor for Sales teams. In fact, 87% said their organization's DE&I policies have a positive impact on their sales and customer retention efforts. To help increase diversity in sales, Outreach launched the RISE and RISE UP programs; two leadership training programs created to help grow diverse talent from within. Now available for any company to use, these programs were designed to deliver opportunities and access to rising leaders, wherever their career journeys take them. The next Outreach Quarterly Sales Confidence Index findings will be revealed in early 2023. Outreach partnered with Dynata to survey 504 B2B sales leaders in the United States and United Kingdom across industries. 40% of respondents identified as VP of Sales, 27% as director of sales, 24% as sales team leader or manager, 5% as sales administrators, and 4% as individual contributors. The survey was fielded September 19-22, 2022. About Outreach Outreach is the leading sales execution platform that helps market-facing teams efficiently create and predictably close more pipeline. From prospecting to deal management to forecasting, our platform leverages automation and artificial intelligence to help revenue leaders increase efficiency and effectiveness of all go-to-market activities and personnel across the revenue cycle. Outreach is the only company to offer sales engagement, revenue intelligence, and revenue operations functionalities in a unified platform. More than 5,500 companies, including Zoom, Siemens, Okta, DocuSign, and McKesson depend on Outreach to power their revenue organizations. Outreach is a privately held company based in Seattle, Washington, with offices worldwide. To learn more, please visit www.outreach.io.

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