Brand and Brand Story Matter in an Inherently Emotionl Industry
Branding and storytelling—so important in differentiating a company from its competitors—are still in their infancy in B2B healthcare marketing, despite the emotional nature inherent this space. Executives at clinics and other medical entities tend to undervalue the influence a compelling brand story can have on customers.
There are plenty of outlets for B2B company’s brand story, from consumer-focused sites like WebMD and the American Cancer Society to more niche sites frequented by medical researchers and product and service providers. But what story should you tell? Determining that begins with research—of the market, of competitors, and of target customers. The findings of that research, when aligned with a company’s vision and strategy, can form the basis of a powerful and effective story that engages existing customers and attracts new ones.
Figuring out where, when and how to tell that story most effectively can be challenging. B2B sales cycles in the healthcare space exceed those of other industries. It can take a year or more to complete a sale, in part due to a complex decision-making process involving selection committees, researchers, IT influencers, finance gatekeepers, medical providers, administrators and even legal teams. A solid understanding of the personas you’re dealing with and a strong content strategy are imperative.
The different needs of the focus areas within the healthcare industry complicate matters, too. We’ve found that account-based marketing (ABM) is used effectively by approximately 40 percent of our clients, making it one “old school” tactic that still works well for everyone in the space. Beyond that, each area is unique and requires a different marketing mix and approach. Here are a few examples: