SUMMARY
-
In this year’s State of Marketing in Life Science and Healthcare report, we survey 150+ respondents to gain a sense of industry trends and more.
-
Respondents said that their top priority is to increase awareness in new or existing markets and their single biggest barrier to success was creating engaging content.
-
The full report includes key takeaways and insights from Founder Hamid Ghanadan. In it, he also shares what tactics marketers lean on to be even more effective in their marketing programs in 2019.
-
Information to access this report and the webinar recording are below.
To access the full report and webinar recording click, the link. Webinar registrants: your password was sent to the email you registered with. Want access to the report? Email us at contact@thelinusgroup.com
The healthcare and life science industries are constantly evolving and growing at such a pace that would make any marketer keep one eye trained on the future, anticipating the next big move. That’s why every year, we survey our colleagues in healthcare and life science in order to understand the industry’s collective views and sentiments about the upcoming year.
This year, our objectives were to:
-
Investigate the industry’s marketing priorities, budgets, barriers, tactics and measures of success
-
Understand the digital trends of the industry
-
Benchmark the industry along the Digital Maturity Index
The 156 respondents represent a diverse cohort of roles from marketing services to sales management to product development; they contribute to their company in multiple ways, from individual contributors, to Managers, to Vice Presidents; they come from a variety of categories between science and healthcare-related services; and represent a diverse set of company and product category sizes — including companies with no revenues to over two billion in revenues.
We asked these respondents to rank their single highest marketing priority, followed by the second and the third. Those were:
-
Increasing awareness in new or existing markets
-
Generating new leads or methods to generate new leads
-
Gaining customer intimacy / Understanding market and customer needs
When looking closely at the spread of budgets along a traditional marketing funnel, we found that over a quarter of respondent’s budgets are spent in outbound, 28% in lead generation, another 17% in inbound and nurturing, and the final quarter spent in sales enablement and support. This is a significant shift in marketing execution from just a few years ago, where 70% of the budget was spent by lead generation.
We also asked respondents what their single biggest barrier to success was. Most respondents said it is creating engaging content, followed closely by strategy.
To thrive in healthcare and life science industries is to deeply understanding the future of it. Marketers who run full-tilt toward a future of digital intensity and transformation maturity will reap the benefits of being a cutting-edge marketing program.
Five Brief Takeaways:
-
Organic growth and driving demand is a leading priority for marketers in 2019.
-
With funds in the traditional marketing funnel moving downstream, we can predict that marketers are investing in strategic relationships.
-
Strategy is the best way to create a true impact. And to overcome that barrier takes a lot of time, work and creative thinking.
-
Social media is instrumental to creating effective tactics. This year, marketers credited social media advertising as their most effective tactic.
-
Organizations and marketing programs that create engaging content, connect with their audience and invest in digital trends will thrive.
There’s still much to learn from this year’s State of Marketing Report. Interested in reading the full report or watching the webinar recording? Email us at hello@thelinusgroup.com