B2B healthcare prospecting refers to the process of identifying and targeting potential business-to-business (B2B) clients in the healthcare industry. It involves conducting research, outreach, and ultimately nurturing leads to convert them into customers or clients.

Traditional Healthcare Prospecting Methods and Challenges in the Healthcare Industry

Traditional prospecting methods in the healthcare industry can be challenging due to various factors. The healthcare sector often involves complex decision-making processes, long sales cycles, and multiple stakeholders. Additionally, reaching the right decision-makers within healthcare organizations can be difficult due to the sheer number of individuals involved, such as doctors, administrators, and purchasing managers.

Source: The Sales Optimisation Company

Revolutionizing Healthcare Sales Through ABM

ABM allows for a tailored and customized marketing approach, which aligns with healthcare organizations' unique needs and challenges. It enables marketers to personalize the messaging, content, and outreach efforts to resonate with their target accounts' specific pain points and objectives. 

By focusing on building relationships and providing value to individual accounts, ABM can help overcome the challenges posed by traditional prospecting methods in the healthcare industry and lead to more successful B2B healthcare prospecting efforts.

Account-Based Marketing vs. Other Prospecting Methods

Account-based marketing (ABM) is a strategic approach focusing on personalized and targeted marketing efforts toward specific accounts or companies. Unlike traditional marketing, which casts a wide net and aims to reach as many potential customers as possible, ABM takes a more targeted approach by identifying high-value accounts and tailoring marketing efforts to their specific needs and pain points.

ABM plays a crucial role in healthcare marketing and sales strategies in the healthcare sector. It allows healthcare marketers to identify and engage with key decision-makers within healthcare organizations, such as providers or hospitals. Healthcare marketers can create personalized and relevant content that resonates with their target audience by understanding these specific accounts' unique challenges and objectives.

The key benefits of ABM in the healthcare sector are:

• Focus on quality leads: ABM ensures that marketing efforts are directed towards accounts that are most likely to convert into customers or clients. This leads to higher-quality leads and better conversion rates, as marketing and sales teams can concentrate their resources on accounts that best fit their niche in B2B medical or healthcare marketing.

Source: G2

• Alignment of marketing and sales: ABM encourages collaboration between marketing and sales teams to identify target accounts, develop personalized strategies, and nurture relationships throughout the sales funnel. By aligning these efforts, ABM helps streamline the sales process and increase the chances of success.
• Customized touchpoints: ABM allows for a personalized approach to engaging with target accounts at various touchpoints. Healthcare marketers can create customized content, deliver targeted messages, and utilize specific channels that resonate with their audience. This personalized approach enhances the customer journey and builds stronger relationships with key decision-makers.
• Framework for success: ABM provides a structured framework for healthcare marketers. By focusing on a select number of accounts, marketers can develop clear strategies, set measurable goals, and evaluate the effectiveness of their efforts. This framework ensures a more efficient and effective approach to healthcare marketing and allows for continuous improvement.

Identifying Key Decision-Makers and Accounts in B2B Healthcare Sales

Identifying high-value target accounts in healthcare is crucial for effective healthcare prospecting. By focusing on these accounts, sales and marketing teams can maximize their resources and efforts on those most likely to result in high-quality leads and conversions. Here's how to create a list of ideal accounts for your healthcare prospecting efforts:

1. Define your ideal customer persona: Start by developing a detailed understanding of your ideal customer. Consider their industry, size, geographical location, and specific healthcare segment they operate in. Identify your target audience's key pain points, challenges, objectives , and the decision-makers involved in purchasing.
2. Research healthcare buyer committees: In healthcare, purchasing decisions are often made by a committee of decision-makers from different departments. Determine the relevant committees and the roles and responsibilities of each member. This research will help you identify the key individuals who should be involved in your prospecting efforts.
3. Analyze relevant data: Utilize market research and industry analysis to identify healthcare organizations that align with your target criteria. Look for data on organization size, revenue, growth rates, and recent medical equipment or supplies investments. This information can help you prioritize and segment potential accounts based on their potential value.
4. Leverage industry networks and relationships: Tap into your existing network and industry relationships to gather insights on potential high-value accounts. Industry conferences, trade shows, and professional associations can be valuable sources of information. Engage with industry experts, thought leaders, and decision-makers to better understand their needs and pain points.
5. Use technology and data tools: Leverage technology solutions and data tools to identify high-value target accounts in healthcare. Numerous tools provide company data, firmographics, and technographics, allowing you to prioritize and segment potential accounts based on specific parameters.

How Binnovate Digital Uses ABM in Campaigns

Binnovate Digital employed an account-based marketing process to raise a total of $2.2M in funding since its inception. 

We used the same process as a case study, which we then applied to: 

• A digital health solution in ophthalmology, which generated 125% ROI within 6 months. 
• A medical device targeting hospital and clinic pharmacies, resulting in a 30% increase in revenue and a 200% increase in sales prospects, including Tier 1 hospital systems in the US within 10 months.
• Established the sales prospects for a healthcare innovation platform from an average of 1 sales call a month to 10 sales calls per month 
• Got as much as a 30% reply rate on a prospecting process from a healthcare consultancy service.

ABM Can Be Used By...

ABM can be harnessed by medical device, digital health, medtech or consultancy companies doing business in the healthcare market. Binnovate Digital can provide you with a tried and tested ABM-based framework if...

• the target healthcare customers you’re serving are going through long sales cycles (3 months or more)
• your average contract value (ACV) is at least $20,000 or more per closed account 
• you have narrowed your ideal customer profile (ICP) to at most 3 roles within the target organizations. If you’re earlier than this, we recommend you hustle to get the first 12 or more research calls and close at least 1
• you have at least 1 case study or a successful pilot, then this process works even better

What's in It for Healthcare Marketers and Decision-Makers?

At Binnovate Digital, we strive to empower clients by optimizing their inside prospecting and sales process. We understand that your time is valuable, and your sales team's interactions should focus on engaging with prospects who are not only pre-qualified but also genuinely interested in what you offer. 

Here’s how we make that possible:

Efficient Prospecting

By leveraging data-driven insights, we identify and target prospects who align with your ideal customer profile. This strategic approach ensures that your team is reaching out to individuals or organizations with a genuine need for your products or services.

Streamlined Sales Process

With pre-qualified and warmed-up prospects, your sales team can focus on what they do best—closing deals. We provide them with the tools, insights, and support they need to make the sales process smoother and more efficient. This translates into shorter sales cycles and higher conversion rates.

Precise Qualification

Our process includes a comprehensive qualification system. Prospects are assessed based on criteria that matter most to your business. This step ensures that your sales team spends their time engaging with leads who are more likely to convert, maximizing the return on their efforts.

ROI-Based Partnership

Before entering into a partnership, we thoroughly evaluate your business, goals, and previous case studies. We assess whether our services align with your needs. This enables us to determine if we have a strong potential for a successful collaboration.

Get Access to a Full Suite of ABM-Focused Prospecting Funnel

If you're struggling to reach healthcare decision-makers and generate high-quality leads, it's time to take action and revolutionize your prospecting efforts. Binnovate Digital offers a full suite of ABM-focused prospecting funnels designed specifically for healthcare companies like yours. 

We guarantee to double your leads and decrease lead generation costs in just 6-8 weeks. Plus, we stand behind our services with a unique pay-per-performance model, ensuring you only pay for qualified calls you take. 

Let us become your strategic partner in transforming your healthcare sales process and experience the remarkable results that come with it. We are highly selective of the clients we partner with to ensure we deliver the best results. Find out if our performance-based model is a great match for you. Book a call with us today!