Lead generation is central to running a successful marketing and sales campaign. It allows you to make contact with prospective customers who already know about your company, as well as ones that may have never heard about it. But what is key with any lead generation campaign is increasing and improving the quality of your leads. Using paid ads that will reach people who will never buy your products won’t go very far in helping you to achieve your marketing and sales goals.
The problem of bringing in quality leads is particularly prevalent in a specialized field like the medical technology industry. Because you’re not operating in a standard business-to-customer industry, you need to be careful with your marketing campaigns so that you can get more bang for your lead generation advertising buck.
Here are 3 areas to focus on to increase and improve the quality of your paid leads in the medical technology industry.
3 Areas of Focus for Better Paid Ads Results in the Medical Tech Industry
If content is king, you need to make sure your king speaks to everyone in your kingdom. In real terms, this doesn’t mean that you need to appeal to everyone – everyone is not necessarily a prospective customer. But you do need to avoid only speaking to portions of your potential customer base in the medical technology product sector. For example, sometimes campaign strategies put too much focus on bottom of funnel, such as Google Ads search campaigns. But other stages of the sales funnel also hold high value lead prospects. It’s important to diversify the overall lead generation strategy and not put all your eggs in one basket. Make sure you are hitting all funnel points (high, mid, and low) rather than focusing on only low funnel prospects who are already interested in buying.
Here are a few ways to address the higher funnel points in the medical technology industry:
- Video: This is a great way to create high and mid-funnel interactions. Short videos are a great way to capture the attention of those in the awareness and discovery phase. For high funnel video, you want to share information that puts you in a leadership position, provides value and gives people a reason to click or come back to you for more information. We recommend tips related to specialized medical fields, or how to use your product or service to alleviate pain points in these fields.
- White Papers & Reimbursement Guides: Chances are, a prospect already uses the type of device you sell. But they will need to upgrade it in the future. Offering them a handy CPT Code guide or white paper on specialty advancements in exchange for their email address can help you get them in an email nurture track. This is a great high funnel strategy.
- Webinars: Webinars are a great way to show off your products, share information, and capture leads in specific specialities. You can draw in attendees by running paid advertising to targeted audiences using LinkedIn. Expert-level education is a great way to engage with prospects who aren’t quite ready to buy, and you can get them into an email nurture track and send them more mid-funnel content.
- Recycle and Reuse: Beyond the initial live experience, webinars offer other opportunities for drawing in high or mid-level funnel prospects. For instance, you can continue to promote the content by offering it as gated on-demand video once it’s run live. At the same time, you can cut webinars into smaller pieces, say 1-5 minutes, and host them on your site or on a third-party like YouTube to address high funnel prospects.
If you’re already running ads and want to improve lead count and quality, it’s important to first determine where your leads are coming from. By analyzing and isolating this data, you can maximize what is already working. In order to determine if it’s really working, make sure the lead quality is good. Regular communication with the sales team is imperative to determine if the leads you bring in are a good fit with your products and services. Look at long term growth, year over year if possible, to identify the long-term value of a good lead.
Here are a few pointers on setting this up:
- Confirm Your Tracking: It is essential that you make sure your tracking is correctly set up in Google Analytics and Google Ads before you begin. To do this, perform a data reconciliation. With a previous client we started by performing a data audit to determine that tracking is set up correctly, and it enabled us to also find areas of opportunity. If your tracking is off, your numbers won’t be accurate, and this will undermine your audit and the resulting paid campaigns. Incorrect tracking leads to sunk advertising dollars.
- Google vs. Facebook: Based on feedback from sales teams we have worked with, Facebook lead quality is generally considered not as high as Google Ads. Specifically, we discovered that Facebook was not always the best way to approach lower funnel prospects. However, it does work well with high and mid-funnel offerings, like video views.
- Organize and Groom Search Terms: There are already lots of articles on the benefits of keeping ad groups tight, and this is a great technique for medical industry campaigns. Regularly grooming search terms is especially important for devices that can only be sold to medical professionals. You’ll want to eliminate those searching for consumer devices or items unrelated to your products, so you are not spending budget on these terms. Making use of negative keywords is one of the best ways to keep costs down for campaigns.
- Make Use of Geographic Regions: Create campaigns based on region if you are advertising in multiple locations. A past client initially had North America as a single campaign in Google Ads, but we broke it out into Canada and the United States in order to better understand performance and better assign budget.
- Regularly Check for Gaps: While you want to make sure tracking is set up correctly in the first place, you also want to keep everything on the right track. There are three things to do here:
- Perform regular reconciliation between lead gen tracking sources (i.e. Google Analytics and your CRM) to guard against tracking gaps;
- Make sure attribution model is harmonized across platforms;
- In order to make sure tracking coverage is complete across all goal destination pages, check that the the conversion count in Google Ads is in sync with Google Analytics and test through Google Tag Manager. You want to ensure you track only unique submissions. You don’t want to track multiple submissions from a single lead as more than one lead.
- Retargeting: Use display retargeting to landing page viewers who did not convert to keep the product and brand top of mind. We regularly use Google Ads and third-party platforms like AdRoll for this.
- Use Data Integration: Utilize a business intelligence platform that integrates data from all sources for visible reporting. We typically use Zoho Analytics or Google Data Studio to show lead sources, cost per lead, cost per click, etc. Not only will this type of report consolidate the important data in one place, it’s typically more easy to visually digest and is great to show to the executive team or investors.
Landing pages are the first thing a potential customer sees on your website. For this reason, they should also be customer oriented and ad specific. Create specialty specific landing pages that are different from specialty pages that may already exist on your site. These landing pages will speak directly to customers in particular fields or looking for particular products. Use images, search terms, and language that pertain to the medical field you are targeting. You don’t have to be too generic or worry about using complicated terms when targeting medical professionals, especially if your landing pages are specialty specific.
When setting up your landing pages, you want to ensure that these landing pages follow best practices:
- Ensure contact CTA is clearly visible on all pages.
- Include lead forms above the fold on paid landing pages. Scroll heat mapping will show you how far people scroll down the page, and you want to make sure that lead form is right at the top so they can’t miss it.
- Include video of the device in-use so prospects can get a good idea of how it works and what sets it apart from competitor products.
- Test landing page performance using Google Optimize and heat mapping in platforms like Hotjar. These can show you where to improve lead generation through website design elements.
- Add a visible contact form or prominent button that links to a contact form at the bottom of each landing page. Some people do make it all the way to the bottom of your page, but they might not scroll back up to fill out the lead form.
RFDM and Paid Ads for Medical Technology
Marketing is never a strict science. Finding a successful formula requires scrutinizing your data and putting your ad revenue where it can provide the best return on investment. If you need a second set of eyes on your lead generation campaigns, contact us for a free consultation.