Health Launchpad

How much does it cost to acquire a new healthcare customer? About $2 for every $1 in revenue. So, if you have a net new revenue goal of $10 million, you need $20 million in sales and marketing costs, all in. Yeah, I know; your CFO will think this is insane, but bear with me here. I recently read a fantastic article by Carilu Dietrich on CAC Ratios. CAC ratios compare the cost of acquiring new customers to the revenue they represent for you. In the post, she reviews a conversation with Ray Rike, the SaaS benchmarking guru, on acquisition costs and why this may be a better way to set marketing budgets. The diagram explains how to calculate CAC Ratios. Although the data is based on SaaS firms across many industries, we believe the net new revenue CAC Ratio proxy for healthcare technology firms is 1.94. That means that for every $1 in net new revenue, you will need to budget $1.94 in sales and marketing costs. In this week's blog post, my colleague, master marketing scientist Mark Erwich, and I explain this and how to use it in detail and hopefully in a very actionable way. In this post, you will learn: 1️⃣ A fresh approach to setting marketing budgets using Customer Acquisition Cost (CAC) ratios 2️⃣ How CAC ratios compare to traditional revenue-based budget benchmarks 3️⃣ The importance and relevance of CAC ratios in healthcare technology marketing 4️⃣ A practical formula for calculating marketing budgets based on CAC ratios 5️⃣ How to adjust budgets for long sales cycles common in healthcare tech 6️⃣ Tips for applying CAC ratio budgeting in your organization LINK TO POST IN THE COMMENTS ⬇ I am curious. Do you think CAC ratios make sense, in healthtech or do you think this is BS? #healthtech #b2bmarketing #budgets #CACRatios #GTM

📣 Meet our new Chief Strategy Officer 📣 I am delighted to announce that Mark Erwich has joined us as Chief Strategy Officer. Mark is one of our industry's most accomplished marketing leaders, having led marketing at Imprivata and Verato. Before that he was Sr Director of Marketing at Nuance. We met at the Swaay.Health Marketing Community conference, as we were on the same panel on ABM. We got on well together. We talked about what we are doing at Health Launchpad, and it went from there. Thanks to John Lynn, Colin Hung, and Brittany Quemby for making this happen. What I love about Mark is that he is both a highly experienced all-round marketer AND has superpowers in ABM. He is also a damn good guy. The team here loves working with him. His timing is impeccable. We have onboarded four new health tech clients in the last 90 days, so he is a welcome addition to our growing leadership team. Welcome aboard Mark!

85% of marketing folks are using AI for content creation. There were 95 respondents to this hugely scientific poll 😜, and most of them are health tech marketers. I was not surprised that AI has been adopted, but I was surprised by the extent. Close to a quarter are using AI in doing research and synthesizing information to create content, and another quarter will go the extra step and use AI to create a draft. 39% are doing that and more, which presumably means this includes directly publishing content written using AI. ⚡ WARNING ⚡ Proceed with caution. I have been doing that for several months, and it's directly hurting my web traffic. Over the last 6 months, I have seen a 17% drop in web traffic and this seems to be due to a drop in non-branded Search traffic. According to our SEO lead, all her clients who have been using AI to write content have seen the same thing. Those who are writing blogs from scratch have not seen this. And BTW, I edit the AI-generated draft heavily, but despite that, Google seems to know. In my view, using AI to research, synthesize information and create outlines is low risk. And the productivity benefits are huge. So, I suggest you avoid using AI to write the first draft. How can Google tell and penalize you use AI to create a draft? Let me know if you know. I really want to know. #healthtech #B2Bmarketing #contentmarketing #SEO #AI

[Spoiler Alert] The answer to this week's article is.... YUP And the clue's in the chart. A year ago, I was bummed out. When I spoke with healthtech marketing leaders about ABM, it felt like nothing had changed in a couple of years. ABM was something that they might get to at some point. Everyone seemed to know what ABM was and why it could help, but few had taken the plunge. A year later, the healthcare technology industry is moving. We conducted research with over 40 healthcare technology marketing leaders, and we share the results in this week's article. A third of healthtech firms are doing ABM. Most of the rest are actively considering it. In this week's article, you will learn: 👉 Where your peers are in implementing ABM 👉 What strategies are being employed 👉 What technologies are in use and which ones are not 👉 What the data issues are 👉 How the more advanced practitioners are scaling ABM 👉 And advice from your peers on how to get started. #ABM #healthtech #b2bmarketing

Our search-driven traffic has dropped 17% in the last 6 months. The root cause? AI It's been driving me nuts. I post 1-2 blogs per week, and we have been optimizing the hell out of the site with a performance-optimized redesign and better internal linking, and despite that, our SEO performance has declined. At the heart of this is a drop in non-branded search terms. Over the last four years, the most significant factor in site traffic growth has been non-branded search terms. This has attracted thousands of people who had never heard of us. In our analysis, there are two big factors behind this, and both are AI-related. In this week's article, we analyze these and explain why AI may be killing your SEO performance if you are not careful. More importantly, we have recommendations on what you can do to mitigate this. To answer these questions, I was joined by two SEO jedis, Danny Goodwin from Search Engine Land and our very own Karen Finn, PhD. Hope you find this helpful. #b2bmarketing #SEO #AI #healthtech

Most healthcare IT firms are considering ABM. Many are already implementing it. But many hesitate to get started. One of the obstacles is the tradeoff between Inbound marketing and ABM. This week's article willl shows that it’s not about account-based marketing VS inbound marketing but how inbound & ABM work together like mac n' cheese. Both are good on their own, but together, they are amazing. Bon apétit! #abm #inboundmarketing #healthtech #b2bmarketing

Selecting the right brand firm is hard. I know firsthand, as I have been on both sides of the fence. In my pre-health tech career, I enjoyed working at and alongside some great brand firms. I had the privilege of learning firsthand from brand masters at firms like Landor, Ogilvy, Wolf Olins, and others. When I had my own software firm, we hired several brand firms and consultants with mixed results. It was my fault as I cut corners and didn't ask the right questions. At Health Launchpad, we have been doing an increasing amount of brand work for clients, from brand strategy to design. As I put myself in our clients' shoes, it strikes me that hiring a brand firm is especially hard. You can look at examples of a firm's work, but how they got there is as important as the end product. If you are considering enlisting a brand firm's help, here are some questions to ask. I hope they help! #b2bmarketing #healthtevh #brand

How do you build a GTM Engine for Healthcare Technology? At last month's Healthtech Marketing Summit, one of the standout sessions, "Building a GTM Engine," delved into the key components of a well-oiled go-to-market machine. The panelists, led by Robert Blount, healthlaunchpad principal, were Bob Abrahamson, Chief Marketing Officer, pCare, a Uniguest company; Cathy Finley, Senior Vice President, Marketing & Product Management, Dr.Evidence; and Ben Person, CEO of Tenon. They shared their insights on foundational elements, execution tactics, collaboration, and the role of technology in driving effective GTM strategies. In this week's article and podcast, you will learn: 👉 The critical importance of thorough market segmentation and customer profiling in laying the foundation for a successful GTM strategy 👉 Proven tactics for developing compelling value propositions and messaging that resonate with your target audience 👉 Strategies for maximizing content efficiency and consistency across multiple channels and touchpoints 👉 The power of close collaboration and alignment between marketing, sales, and product teams in ensuring a unified go-to-market approach 👉 Best practices for aligning your SDR strategy with your unique business model and sales cycle 👉 The essential components of a robust marketing tech stack and how to leverage them for data-driven optimization 👉 Navigating the complex compliance landscape in the healthcare industry and staying ahead of evolving regulations 👉 Adapting to market shifts and keeping your messaging and value propositions relevant to changing customer challenges 👉 Prioritizing a customer-centric mindset in all aspects of your go-to-market strategy 👉 Measuring and optimizing go-to-market performance using key metrics, dashboards, and integrated CRM and marketing automation systems This article and pod are a veritable How To on building your GTM engine #GTM #healthtech #B2BMarketing

ABM is at a tipping point in healthcare technology. The shift is happening. In this week's article and episode of the Healthtech Marketing Show, two of my healthcare B2B heroes Kelly McDermott, MBA from Caregility and Ben Person, CEO of Tenon and former CMO of Nuvolo share what it takes to do it successfully. In this article, you will learn: 👉 Why ABM can be a game-changer for driving complex B2B sales in the healthcare technology industry 👉 How aligning sales and marketing efforts, leveraging intent data, and personalizing outreach can shorten sales cycles and drive revenue growth. 👉 Why data-driven decision-making is crucial 👉 Why it's important to start small and continuously refine your approach 👉 How to set clear goals and metrics 👉 Why you need to be careful in how you invest in the right technology 👉 How to secure executive buy-in I learn something every time I speak with these guys. You will too. #ABM #accountbasedmarketing #b2bmarketing #healthtech #demandgeneration

In this week's episode of the Healthtech Marketing Show, we share the recording on all things Brand from the Healthtech Marketing Summit. Moderated by Matthew Piette, former head of brand marketing at Philips Healthcare and Exact Sciences Corporation, the panel includes Karsten Russell-Wood (CMO, Equuum Medical), Trina McDuffie-Claggett (VP of Marketing, SpinSci), Justin Metz (Content Lead, healthlaunchpad), and Patty Enrado (Sr. Director of Client Content, HIMSS Media). The panelists delve into how to build brand reputation and authority. They explore strategies for developing thought leadership, creating authentic content, leveraging corporate citizenship initiatives, and cultivating diverse, authentic spokespeople. Key topics addressed in this episode include: 👉 Developing robust thought leadership strategies 👉 Creating authentic and meaningful content 👉 Leveraging corporate citizenship and employee advocacy 👉 Identifying and cultivating authentic spokespeople 👉 Crafting compelling brand narratives 👉 Ensuring consistency and clarity in brand messaging 👉 Forming strategic partnerships and collaborations 👉 Measuring brand authority through engagement and retention metrics 👉 Adapting to the evolving buyer's journey 👉 Being bold, interesting, and genuine in brand storytelling The article below provides a detailed and actionable guide for any healthtech marketer looking to rethink how they are building their brand. #b2bmarketing #brand #healthtech