Share Moving Media

Go-to-market strategies are critical in today’s digital health world

By

Mobile health, health IT, wearable devices, telehealth and telemedicine, and personalized medicine are transforming patient care. One in three smartphone users monitor health and fitness through their phone and over half of Americans are comfortable with virtual consultations. Digital technology is changing the fragmented healthcare system to center around consumers.

The American Medical Association identifies three key trends rising to the top of the digital health landscape include:

  • Consumerization of healthcare: the retail healthcare model is being highlighted as the future of patient care.
  • Access for underserved communities: access to healthcare remains a significant challenge for many individuals in the U.S.
  • Application of big data: healthcare data is a highly sought after commodity, with organizations increasingly seeking to harness and interpret what they, and others, collect.

These trends are providing opportunities to bring digital solutions to the healthcare marketplace. To do that, organizations must create go-to-market (GTM) strategies to gain a comprehensive understanding of the marketplace, the target market and a potential product’s place in it.

The most common challenges when launching GTM strategies for digital solutions, according to PricewaterhouseCoopers (PwC), are the lack of experience selling or positioning and measuring value. Successful GTM strategies include defining the benefits, creating value frameworks, identifying relevant stakeholders, developing value messages, determining the right channel mix and content type for each stakeholder, and then building a strategy.

Traditional stakeholders usually include patients and clinicians, and non-traditional stakeholders might include specialty healthcare providers and others. They demand a transformation of marketing and customer engagement led by customer needs. Identifying their digital acumen helps identify those needs.

For example, PwC highlights four physician personas that differ in the level of digital savviness:

  • Traditionalists: physicians who only use digital tools available when necessary.
  • Digital Explorers: physicians who start to realize the benefit of digital tools.
  • Digital Adopters: physicians who try to use digital tools as often as possible and are quick to get started.
  • Next Normal Champions: physicians who are among the first to use digital tools and encourage others to use them.

PwC says it’s important to define must-win moments and value messages for each. This can be a physician willing to support patients with treatment-related information despite having limited time with patients. Organizations can position digital solutions as valuable to physicians because they help patients access treatment-related content without the physician.

Measuring the value of digital solutions is challenging. Sales numbers can struggle to depict it. Organizations need to put value frameworks in place in order to highlight stakeholder value over sales numbers. Qualitative KPIs like outcomes, engagement and activity can measure the effectiveness of communication strategies and the perception of brand reputation. 

How can your organization get creative with your marketing campaigns for 2024? At Share Moving Media we help best in class manufacturers build relationships with the industry’s decision-makers. Please contact us at sadams@sharemovingmedia.com to learn how we can help you gain market share through distribution.

How commercial healthcare providers are helping change the healthcare marketing industry

By

With increased consumerism in healthcare, these new participants are changing how healthcare organizations market themselves 

The healthcare industry is witnessing a continued push towards consumerism. Stakeholders are turning to retail, tech and other sectors for innovation to help solve familiar healthcare problems. Enter commercial healthcare providers (CHPs). They can be defined as retail, payor, senior and tech-based providers changing the landscape of consumer healthcare as people seek convenience and quality in their healthcare experience.

In recent years, retailers have delivered products in a more convenient way, changing consumer behavior. An omnichannel approach has blurred the lines. Consumers can easily research a product and maybe even test it before purchasing it. As this approach has become more comfortable for consumers, they are pursuing it in other areas like healthcare.

Some familiar names in retail like Walmart, Walgreens, CVS and Amazon can be considered retail-based commercial healthcare providers today. Those and other retail-based commercial healthcare providers are acquiring and investing in tech-based startups and senior-focused providers in response to the shift in dynamics – both consumer-centric preferences and an aging population.

Payors like UnitedHealth Group and its Optum division are considered payor-based commercial healthcare providers. They are also investing in tech-based startups and senior-focused providers. Redefining the space is a change to fee-for-value reimbursement models, physician shortages, consumerism and digital disruption.

But how are commercial healthcare providers successfully marketing themselves and their services to the changing landscape? And what can other healthcare stakeholders learn from their entries into the marketplace?

Organizations must constantly expand their footprint in today’s healthcare environment. But there are plenty of barriers to growth like increased consumer expectations of healthcare, greater patient exposure to price, and expanding choices for healthcare consumers. Consumer interest must be stimulated to remain competitive in this healthcare marketplace.

Optum says that to drive sustainable growth, healthcare leaders need to better understand the consumers and patients they currently serve. Every healthcare leader should ask these four data-centric marketing questions:

  1. What customers do we need to reach in order to be successful?
  2. What do we know about our current customers?
  3. How do we ensure our current customers continue to choose us?
  4. How do we attract more of the right customers?

There is more consumer data, patient data and real-time marketing data to generate strategic and actionable insights than ever before. Healthcare organizations must act more like consumer-driven brands in today’s consumer-centric marketplace. Deploying precision marketing makes marketing more effective and more cost-efficient.

Optum helped AdventHealth develop a six-month marketing campaign that led 134,000 patients to the Central Florida health system, instead of its competitor. They discussed it during a healthcare marketing webinar.

They supervised a precision marketing campaign designed to speak directly to the people likely to use their services. But AdventHealth needed digital tools and help from marketing partners to achieve their results. Optum mined digital data to prioritize 850,000 people, dividing them into 11 specific cohorts. Some included young singles without a primary care physician, married couples with kids, very sick people with more than two or three diseases requiring complex care, and people of all ages suffering from unexplained stomach and abdominal pains.

Unique messaging was designed for each group, considering clinical needs, gender, language and culture. People received the messaging through their preferred media channels at the times they were likely to see it.

It led 134,000 patients to AdventHealth rather than the competitor’s emergency departments and the investment yielded a $474 return for every marketing dollar spent, according to AdventHealth.

A focused approach to marketing by reaching out directly to likely customers and engaging them through personalized messaging can provide better results with less wasted effort.

Share Moving Media is experienced with the creation of marketing campaigns that increase SEO searches for companies within the medical distribution industry. We can assist your brand in creating content that is simple, shareable, and that appeals to emotion to effectively promote your company. Visit www.sharemovingmedia.com to learn more.

One CHP understands digital tactics driving consumerism, strengths of diverse patient communities

By

UnitedHealth Group created the Optum brand in 2011 by merging its existing pharmacy and care delivery services into a single brand, comprising of OptumHealth, OptumInsight and OptumRx. The commercial healthcare provider (CHP) has business interests in technology and related services, pharmacy care services and various direct healthcare services. In 2019, Optum’s revenues surpassed $100 billion.

Focusing on data and analytics, pharmacy care services, population health, healthcare delivery and healthcare operations, Optum serves employers, government agencies, health plans, life science companies, care providers and individuals and families.

How did it grow its brand awareness among its target audience of health system buyers and bellwethers? Its content marketing through different distribution channels including digital, print and other media helped promote its partnerships with healthcare stakeholders.

Benjamin Meents, senior vice president of corporate marketing, brand and events at Optum, has said that the CHP’s content strategy, messaging and story was grounded around celebrating the accomplishments achieved through working with those working in the healthcare space and tackling the biggest challenges in healthcare with their partners.

The intersection of technology, data and analytics with the humanness of the healthcare sector provides a unique opportunity for those in healthcare marketing to share the impact of their organizations. Making an emotional connection with prospective patients and their families can inspire them to stay healthy for themselves and those around them.

A brand awareness campaign in healthcare must be flexible and adaptable to the diverse communities that the healthcare community serves. Optum strives to portray the real, lived experiences of patients and understand that strength comes in many forms. Highlighting patients’ exceptional stories is one of Optum’s own strengths through its omnichannel marketing approach. 

Optum also understands the need for digital marketing in healthcare and what’s driving it. Consumers want instant gratification with access to information anytime, anywhere, online and on-the-go. They want innovation that integrates the disparate data from all their devices into a single view. They also want personalization and expect their needs to be known and their communication preferences to be targeted. And they want simplification in all their interactions, which must be quick and easy.

According to an Optum whitepaper, digital tactics today that support healthcare consumerism include:

  • Online health insurance shopping.
  • Doctor email patients within secure applications.
  • Pharmacy calls with prescription refill reminders.
  • Consumer receives push message on smartphone, e.g., fitness challenge ranking.
  • Health insurers provide free wearable for completing preventive screening.

And digital tactics in the future include:

  • Request medication from smartwatch.
  • Get a real-time text alert when blood pressure is too high.
  • Receive one simple bill for care.
  • Build their own health plan, based on their personalized needs, on their insurer’s website.
  • Have a single dashboard with all their health information.
  • Receive personalized messages based on their data to drive better decision-making and better health.

Healthcare organizations must meet consumers where they are online. Optum says the most commonly researched topics are specific diseases or conditions, treatment options, doctors or other health professionals, and healthcare coverage in general, and that digital marketing is a critical enabler.

How can your business leverage marketing to generate revenue and attention for your brand? At Share Moving Media we help best in class manufacturers build relationships with industry stakeholders. Please contact us at sadams@sharemovingmedia.com to learn how we can help you gain market share.

The Value of a Trusted Industry Newsletter

By

In today’s marketplace, the email Inbox has become a coveted place for marketers to try and pique the interest of supply chain leaders.

According to Templafy, 86% of professionals named email as their preferred means of business communication and email ranked as the third most influential source of information for B2B audiences – topped only by colleague recommendations and industry-specific influencers.

In the same blog, Templafy revealed that the average office worker receives around 121 emails  every workday. Indeed, to truly grab the attention of supply chain leaders, healthcare marketers will need to find a way to stand out.

One powerful digital marketing tool is a well-regarded newsletter. These are much more personalized – and informative – than a marketing email. Newsletters are useful tools to educate and inform readers, all while building an audience that will come to depend on the platform for news, insights and tips on how to do their job better.

However, newsletters need compelling content and repetition in order to gain the trust of healthcare supply chain leaders. It can take months, or even years, to build that kind of value for today’s readership. That’s why partnering with a trusted industry newsletter is a good strategy for brands looking to get in front of, and stay in front of, their targeted audience.

Share Moving Media’s flagship newsletter, the dail-eNews, is a real-time email newsletter for those involved in the business of healthcare. It has been delivered on a daily basis to over 20,000 decision-makers in GPOs, IDNs and the manufacturing and distribution segments of the healthcare industry for more than a decade. Each edition of the dail-eNews provides an opportunity for healthcare marketers to gain the attention of supply chain leaders via banner ads, announcements of new product launches, features, initiatives, and more.

Share Moving Media also produces several other newsletters including National Accounts Weekly, the Medical Device Council, and Supply Chain Hub. For more information on SMM’s digital publications and how to partner, visit sharemovingmedia.com.

Growth in Ads

By

The pandemic impacted many aspects of daily business, including the marketing and advertising industry. During the pandemic, the advertising industry experienced rapid growth, and now that the world is moving forward, and continues to be higher than average.

According to a forecast by Brian Wieser and published on AdWeek.com, the advertising industry in the United States is projected to grow 5% in 2023. Total ad revenue will grow 2.0% to $363 billion in 2023. In 2024, there is an expected surge of 8.1% projected ad revenue growth.

The growth of the ad industry has steadily increased in the past decade due to access to cheap capital that provided “vast sums” of money for companies to use toward advertising pursuits, according to analyst Brian Wieser, media and advertising analyst/consultant.

So, how has the industry changed? And what do those changes mean for the medical supply chain industry? Read on to learn more:

Why did the ad industry expand during the pandemic?

Advertising during the pandemic was unpredictable. During COVID-19 lockdowns, many advertisers took the time to pause and reevaluate their marketing strategies to develop more engaging and creative ads. Now that the world is beginning to normalize post-pandemic, there have been many changes and differences in the primary ways that companies advertise, such as an increase in digital advertisements such as with content on social media, website, podcast, etc.

How popular is digital advertising?

Digital platforms such as social media, YouTube, commerce/retail media, and companies like Apple account for 64% of all advertising. This influence is expected to grow 11% this year in 2023, according to Wieser. Retail media is also on track to grow by 20% in 2023, led by companies such as Amazon.

What does the increase mean for the supply chain industry?

The supply chain industry can greatly benefit from taking advantage of digital advertising in their marketing efforts. Advertising content published on platforms such as online and social media can promote a brand to a wide audience and gain invaluable exposure. For companies in the medical supply chain industry, digital advertising is also beneficial because it can provide a platform to promote a company to hospitals or industry execs.

The advertising industry is expanding and increasing, and that dominance is only expected to grow in the coming years. If your brand could benefit from assistance with creating content for a strong and successful marketing campaign, contact John Pritchard with Share Moving Media at jpritchard@sharemovingmedia.com. SMM has over 30 years of experience advertising within the medical supply chain industry and can help your brand take advantage of the rise of digital advertising through content creation. Contact us today to set up a preliminary meeting session to learn more.