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‘What does good look like?’ ‘How do we compare?’ and ‘How do we get there?’ are common questions when healthcare marketing strategy is concerned. With so much competition in healthcare marketing today, you need to benchmark yourself against the key metrics within your industry.
But, good benchmarking is only as useful as your marketing strategy allows it to be. Are you confident that you’re applying a data-driven strategy? Are you happy with the metrics in place to inform your digital marketing optimization?
We’ll delve into some recommended resources and marketing tools to help you implement your benchmarking learning and increase your healthcare customer conversion and retention.
It’s useful to have conversion statistics to compare your conversion rates against if you’re serious about conversion rate optimization (CRO). And with the resources and opportunities available to digital marketers today, who wouldn’t be? So, let’s turn to the 2020 Unbounce conversion benchmark report, which broke down landing page conversion rates across 16 sectors, including medical practitioners’.
This report is valuable for marketers in the more niche sectors, such as those in health marketing strategy, where average conversion rates don’t cut it for data-driven marketing planning.
Here, medical practitioners saw an average landing page conversion rate of 6%, the median being 2.4%.
Medical practitioners saw lower conversion than the average median rate for all sectors, which came in at 3.2%. Interestingly, the overall conversion rate average was 9.7%. Unbounce confirmed this average has been brought up by the ‘top-performers’, the top 25th percentile, who saw an average median conversion rate of 25%.
Naturally, due to the complexities (or not) of some customer journeys, it’s not surprising that medical practitioners are seeing a lower conversion rate than average. But, as we know, each conversion is incredibly valuable for the healthcare sector, both in their short-term and long-term lifetime value.
This is roughly the case for all 4 types of medical services identified in the report. As you can see below, medical services’ median conversion rates were between 2.1% – 2.6%, with ‘alternative treatment’ converting a pinch above the rest.
That said, some healthcare marketers are seeing extremely high conversion rates on their pages. In fact, the top 25th percentile of medical practitioners’ landing pages saw average conversion rates of 20.04%!
Unbounce has noted that, particularly in the healthcare sector, they found ‘mixed conversion goals perform best’. I think this is particularly important to note, as not all conversion goals are created equal. While high-converting lower value goals may perform well in terms of this individual metric, many healthcare/pharma marketers will assure you that high-value goals are still their while.
As medical/pharma companies continue to develop their healthcare marketing strategies, we may see changes in how these types of medical services are positioning themselves and their conversion strategies, for example, the marketing trends around alternative treatments.
Want to stay up to date with the latest developments in pharma/healthcare marketing strategy? Our dedicated marketing training and tools will support you to create a winning marketing strategy and stay ahead of the competition. Find out more.
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We recommend all healthcare marketers and managers make use of the RACE Framework as a dedicated structure for healthcare marketing strategy and planning.
The RACE Framework is a practical framework to support you in optimizing your digital marketing. Ultimately, it’s about using a data-driven approach, applying web analytics and recommended best practices to get more commercial value from your investments in digital marketing.
That’s why you need RACE to unlock all the insights your competitor benchmarking could be bringing to your healthcare marketing strategy. It’s worth doing properly, trust me.
To complete a successful online competitor analysis, firstly, you need to think through the customer journey your prospects will follow. The RACE Framework breaks this down into reach, act, convert and engage.
Using RACE as a framework for the customer journey, you can complete competitor analysis from a customer-centered perspective, for eg considering how visible competitors are online at each stage of the customer journey, and those all-important landing page conversions.
You can also use the RACE Framework to assign values to particular groups or actions that are more valuable to your overall strategy. This will help you structure your marketing mix to be as effective as possible in driving forward your goals.
Don’t forget, your traditional competitors aren’t necessarily your online competitors since publishers, media sites, and blogs all compete with you for attention via their content and social media marketing. That’s why you need to consider all your key channels and personas from the perspective of RACE.
Our RACE Practical Digital Strategy Learning Path is designed to support all your strategic marketing needs. We have modules to support your pharma/healthcare marketing company to achieve your vision, including:
Want to reach and convert more healthcare customers? Our dedicated marketing training and tools will support you to implement data and benchmarking whilst staying up to date with the latest developments in healthcare marketing strategy. Find out more.
As we have seen, conversion is a big topic in the area of healthcare. While each conversion strategy will be different, if you are considering conducting tests, here are some pointers from our conversion optimization Learning Path Module:
Finally, once you’ve converted all those customers, it’s wise to have measures in place to keep them. Particularly in sectors where the customer journey is as complex as healthcare marketing, onboarding is a crucial element in unlocking your customers’ lifetime value. That’s why RACE includes the ‘engage’ step in the customer lifecycle – since engaged customers are much more likely to buy again.
Our customer onboarding and growth module guides you through the steps you need to take using digital communications to welcome new customers and follow-up on purchases from existing customers to encourage loyalty and advocacy.
Common online customer onboarding activities include:
As this research from the DMA and Pure360 shows, there is still a strong communications preference for email from consumers, even among younger groups such as millennials.
Our RACE Practical Digital Strategy Learning Path is designed to support all your strategic marketing needs, informed by data and industry best practice, across the customer lifecycle.
Most importantly, all our Learning Path modules are integrated within the RACE Framework, so you can plan and manage all elements of your marketing using one streamlined structure. Begin the step-by-step process of optimizing your pharma/healthcare digital marketing strategy today. Find out more.
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