Tag: marketing strategies

multi-channel marketing

Multi-channel Marketing Strategy Enables a Medical Devices Manufacturer to Increase Customer Engagement and Lower Acquisition Costs

Engagement Summary

Quantzig collaborated with a client from the pharmaceutical industry to help increase their return on marketing investment (MROI) as well as gain insights on their customers’ needs and preferences by making use of the multi channel marketing strategy. This led to an improvement in their MROI, reduction in customer acquisition cost, as well as an increase in their customer engagement rate.

About the client

The client is a UK based medical device manufacturer with overseas offices across the US and subsidiaries across Western Europe. Founded before World War II, the client is a pioneer in the field of medical devices. They initially manufactured only thermometers, but with advancements in technology, they have now expanded into manufacturing medical disposables and diabetes care products.

A multi-channel marketing strategy provides your firm with the flexibility to showcase your offerings on the right platform to meet your customer’s needs and preferences. Request a free proposal to know how we can help you to build a multi-channel marketing strategy.

The client’s problem

With the advent of the internet era, the new-age consumer is increasingly engaged on various devices and media channels. With multiple channels at the ready, the client was unable to provide a seamless customer experience to customers across these channels.

The client’s challenges revolved around three core areas, including:

Improve Customer Experience – The client was facing problems with sending out consistent messages across the platforms, making it difficult for the customers to engage with the brand easily.

Increase Conversion Rate – The client was unable to devise a multi channel marketing strategy, leading to a low customer engagement rate, and thus a low conversion rate.

Expand Customer Base – The client was keen on creating a marketing strategy to target specific segments of audiences so as to increase their customer conversion rate.

With a proper pharma multi channel marketing strategy businesses can find the perfect mix that helps in lowering cost per acquisition. Speak to our experts to know more about our multi channel marketing solutions.

Solution offered

Multi-channel marketing is the implementation of a single strategy across multiple channels or platforms of a company, such as a website, mobile application, e-mails, and webinars, maximizing opportunities to interact with prospective customers and giving customers a choice to interact with the company how and when they want to, ultimately improving the company’s overall reach.

Quantzig’s multi channel marketing solutions for the pharmaceutical industry helped the client gain actionable insights into the buying habits and demographics of every customer segment they have. The client was, thus, able to build buyer personas and gained insights into their buyers’ needs, preferences, and journeys, enabling them to create targeted marketing strategies for different customer segments.

Business outcome

In a very short span of time, Quantzig’s marketing analytics solutions enabled the client to gain granular insights into their customers’ needs and preferences, helping devise targeted marketing strategies for different segments. This led to a substantial increase in customer engagement and customer conversion rates. They were also able to reduce their cost per acquisition, thus attaining better returns on the marketing investment (MROI).

The key business outcomes of Quantzig’s pharma multi-channel marketing strategy for the client were-

  1. Lowered the customer acquisition rate by 15 percent
  2. Improved the customer conversion rate by 24 percent
  3. Enhance customer’s perception of the company

A data-driven pharma multi-channel marketing strategy enables you to measure the ROI of your marketing platforms. Request a free demo to gain insights on our marketing analytics solutions.

5 steps to Building a Robust Marketing Strategy

Marketing strategy is primarily aimed at combining an organization’s marketing goals into a comprehensive plan. An ideal marketing strategy plan focuses on the right product mix in order to maximize the profit and ensure business sustainability. It contains the company’s value proposition, key marketing messages, information on the target customer, and other high-level elements. Companies use various types of marketing strategy to reach people and turn them into customers of their offerings. But the key questions to be answered here are – what your strategies should be? How do you make your team’s work align with your strategies? How do you measure their effectiveness? The answers to all these questions lie in establishing a good marketing strategy plan:Contact US

Identify the overall goals

Every marketing team uses different types of marketing strategy which includes demand generation, digital content, events, and partnerships. It is vital for the marketing teams to establish clearly defined, actionable strategies. For this, factors such as vision of the team, market opportunities and core competencies, and the end-to-end customer journey should be taken into consideration. It will help in strategy development and ensure that companies are leveraging the right opportunities to achieve their main goal and connect with their customers.

Analyze industry positioning

Once the company’s primary goals and objectives are listed out, the next step in the marketing strategy plan is to see where the company lies in terms of the overall industry, as well as how it’s positioned with the current customers. This can be better done by undertaking a SWOT (strengths, weaknesses, opportunities, and threats) analysis. SWOT analysis focuses on internal factors and external market elements and seeks to better define the ways in which the brand is perceived in comparison to its counterparts in the market from a customer point-of-view.



4 Key Steps to Build Effective Pricing Strategies for Your Marketing Strategies

Devising various types of pricing strategies in marketing is one Contact USof the most significant challenges to face as a business owner. It requires analyzing several factors and putting together an accurate picture of what your product is worth, how much its production costs, and how much your customers will pay. Understanding how to plan a pricing strategy is one of the important parts of creating a successful business. It has a direct impact on your bottom line and revenues. Pricing strategy is the ultimate reflection of the value that you offer to your customers through your products and customer service. In this article, we have tried to help you out by formulating five steps towards developing value-based pricing strategies in marketing that will push your revenues in the desired direction. (more…)

Using Closed Loop Marketing in the Healthcare Sector – Why It’s Important

In today’s scenario, marketing is inevitable irrespective of the sector that you operate in. However, according to a recent research, only 38% of today’s marketers have a holistic view of how customers interact with digital content throughout their purchasing journey. Which translates to the fact that less than half of the marketers are creating content that may or may not produce ROI for their company. Therefore, marketers should not only refrain themselves from putting all the eggs in one basket but more importantly know which basket to put the eggs in and create more returns. This is where the role of closed loop marketing comes into the picture and makes marketing’s efforts pay off.Free demo

What is closed loop marketing(CLM)?

Closed loop marketing is the marketing that relies on data and insights from closed loop reporting. It is the use of analytics and insights to build better marketing campaigns that lead to ROI. To “close the loop,” marketers must analyze and track their efforts from the first touchpoint to the customer’s interactions with the sales teams. In layman’s terms, closed loop marketing refers to the sales staff working with the marketing team to determine how customers arrived at their website and what they did after they got there. CLM allows marketing and sales teams to work together and improve the customer experience by integrating the departments and ensuring an uninterrupted flow of data. It involves collecting and analyzing customer data from multiple channels and using that insight to create and deliver targeted content. It provides a continuous cycle that gathers customer preferences and monitors the marketing strategy, so it can be optimized to improve outcomes.

Why should companies in the healthcare industry use closed loop marketing?

CLM is slowly gaining popularity in several sectors, and the healthcare industry is one of them. It might be surprising how in a sector as sensitive as the healthcare industry, closed loop marketing can work wonders. By understanding what works for individual customers, healthcare companies can tailor their marketing strategy to ensure they receive relevant communications; thus, increasing the value. Understanding and leveraging various data allow companies in the healthcare industry to define specific profiles and build accurate and appropriate solutions to match customer needs. This marketing strategy could also help companies to identify the effective communication channels and improve conversion rates.

What are the steps involved in closed loop marketing?

The following are the critical steps involved in CLM:

#1:  Know your customer

The first step begins when a visitor accesses the company ’s website and browses through various pages. With the help of features such as cookies or IP tracking, firms can not only identify what directed the customer to the website (e-mail, social media, PPC campaigns, etc.) but also track their path, and then combine this information.

#2: Understand customer interest

The goal here is to analyze the customer’s behavior on the site.This includes identifying the pages they browse, the documents they downloaded, the products they purchased, etc. This information can help enhance the customer experience on the website and speed up deal closing and ensure higher conversion rates. For example, from the patient’s browsing history on the website, companies in the healthcare industry can identify what type of patient care services the visitor is looking for and target their further marketing campaigns accordingly.

#3: Converting visitors to leads

One of the most critical points of the closed loop marketing is to ensure that the visitor fills out a form that helps companies obtain his/her identity. This will make it possible to associate all the information collected from anonymous visitors with a customer record. Through the analysis of visitors’ behavior, firms can optimize their website for a faster visitor-to-lead conversion.

To know more about the application of closed loop marketing in the healthcare industry

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