#Marketing-How to create an effective MedTech Inbound Marketing Budget

How to create an effective MedTech Inbound Marketing Budget

Statistics show that 86% of physicians use the Internet to gather health, medical, and prescription drug information. Tasks commonly performed by healthcare professionals on mobile devices include visiting manufacturer websites, ordering samples, and obtaining drug information. One of the most popular reasons physicians (60%) use social media is to see what colleagues are sharing and discussing, which means word of mouth marketing is powerful.

What does this mean for you? B2B marketers know the importance of inbound marketing, especially those in the healthcare industry. This is why you need a good budget for inbound marketing. In this post, we're going to show you how to create an inbound marketing budget that fits your business.

Published in: Marketing

How to create an effective MedTech Inbound Marketing Budget from Screwpile Communications

Transcript

• 1. HowtoCreate AnEffectiveInbound MarketingBudget
• 2. Statistics show that 86% of physicians use the Internet to gather health, medical, and prescription drug information.
• 3. Statistics show that 86% of physicians use the Internet to gather health, medical, and prescription drug information. Tasks commonly performed by healthcare professionals on mobile devices include visiting manufacturer websites, ordering samples, and obtaining drug information. Search
• 4. Statistics show that 86% of physicians use the Internet to gather health, medical, and prescription drug information. Tasks commonly performed by healthcare professionals on mobile devices include visiting manufacturer websites, ordering samples, and obtaining drug information. One of the most popular reasons physicians (60%) use social media is to see what colleagues are sharing and discussing, which means word of mouth marketing is powerful. Search
• 5. What does this mean for you? B2B marketers know the importance of inbound marketing, especially those in the healthcare industry. This is why you need a good budget for inbound marketing. The U.S. Small Business Administration suggests that businesses with revenues less than $5 million should allocate 7-8% of their budget to marketing.
• 6. The budget should cover costs related to brand development (logos, websites, blogs, videos, sales presentations, brochures, etc.) and business promotion (advertising campaigns, events, etc.). How you split the budget between branding and promotion will depend on the size of your business and stage of growth. WELCOME OUR COMPANY
• 7. CLOSE Where to Spend Your Budget As you can see in this graphic, different inbound marketing strategies affect different steps within the sales funnel. ATTRACT CONVERT IDENTIFY Blogging SEO Social Media Lead Scoring Marketing Automation Landing Pages Call to Action Forms ContactManage- ment Website Analytics Contact Database Strangers Visitors Leads Customers Success
• 8. ATTRACT Blogging SEO Social Media As an example, let's look at the three strategies in the “attract” block: Blogging helps you create additional content on your website that can get indexed by search engines, thus increasing your visibility in search. You can also end each pieces of blog content with a call to action that puts your blog readers onto your mailing list, moving them from the “attract” to “convert” stage. Then you have social media, which is a great platform to promote your blog content, hence driving more readers and potential leads to your website.
• 9. You can expect to spread your inbound marketing strategy across all areas of the funnel. The first few months of inbound marketing are generally the most action packed, as you will be setting up different elements for each strategy. Then the following months will be about creating new content, refining your strategy, A/B testing your conversion pages, and so forth.
• 10. What You Can Do To Improve Inbound ROI Website analytics are the key to improving your inbound marketing ROI over time and allocating your budget according to the tactics that are driving the highest converting traffic to your website. 20% 40% 10% 30% July 2014 - August 2014 This will teach you things like which blog topics get the most traction with your customer base and which social networks drive the most conversions.
• 11. A key thing to do in the beginning of your inbound marketing strategy is to set up goals within your preferred analytics platform. Goals can include email list opt-ins, lead form submissions, or new customers directly from your website. Once you have set up your goals, you will be able to track which inbound strategies are generating the most qualified traffic for your website. That way you can focus more on the best tactics for generating qualified traffic or improving the tactics that aren’t working just yet. SEND
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