Lake B2B Enabled an IT Digi-Health Company See Impressive Windfall Gains via Successful Retargeting

7X Growth in MROIs


Almost Half the Revenue Generated through Windfall Gains


CPL Rate Increased by 80%


Industry :Digital Health
Location :Minneapolis, USA
Challenge :

No intent-based contact database available to carry out successful marketing and retargeting ads

Audience Targeting Criteria

C-level heads and influential Board members involved in the healthcare decision-making process across the USA.

Know the Key Targets

Digital health is huge, especially after the pandemic hit the world. The smooth functioning of a hospital is dependent upon certain executives who ensure strategic initiatives are taken for long-term success. A major part of this is taking decisions regarding technology and innovation that could benefit both patients and the institute in question.

It’s important that healthcare marketers get directly in touch with the C-suite executive team of a hospital to shorten their sales cycle. However, this process could involve a lengthy engagement and nurture strategy.

Targeting Accounts and Titles Sought by the Client

Chief Medical Officer (CMO)Chief Clinical Officer (CCO)
Chief Experience Officer (CXO)Directors
PhysiciansAdministrators

Meet the Client
MEET THE CLIENT

The client company is a leading Information Technology (IT) company focused primarily on helping healthcare providers and payers simplify administrative and clinical complexity via data-driven improvements in healthcare. The employee strength of the company is about 520 employees and the company has a net worth of nearly $545 million.

Challenges
The Key Challenge

The client wanted to carry out both lead-generation and remarketing campaigns. However, the targeting titles and accounts were to be the same. For this, two separate contact databases were collated to help develop hyper-relevant marketing messages.

However, the client company’s internal teams’ marketing strategies were amiss. Meaning, the client was retargeting customers or leads based on website visits of the past 90 days. But, the results were poor. The teams also tried to target the relevant audience via Facebook retargeting through the Business Suite feature. Still, engagement rates and ad clicks were low. Finally, those simply visiting the client’s website were also retargeted but no positive outcomes so far.

The client was simply judging campaign performance based on the percentage of leads that were ready to purchase but because they had cast their net a little too wide, they were unable to cater to their audience properly. Meaning, there was no way to distinguish whether visitor X had read a single blog post and left the site or they proceeded onward to fill in a lead-magnet form and checked out the product’s pricing. The former is simply in the preliminary stages of the buying funnel and cannot be enticed with a free trial. On the other hand, the latter is not going to find a blog post on the importance of that product or service enticing because they are moving from the consideration to the decision-making stage.

For the remarketing strategy to work, the client needed to develop marketing messages that were aligned to the audience’s stage in the buying cycle. Even the client’s lead-gen form links were not getting enough clicks. This proved that the database the client was using lacked relevant data of leads with the strongest buying signals. It also showed that the client’s marketing messages were not in line with the lead’s position in the sales funnel.

The Solution

At this time, the client’s Chief Marketing Officer (CMO) approached the data experts of Lake B2B for timely help. Besides developing a fresh contact database based on the intent of the leads, Lake B2B also helped with retargeting by segmenting leads based on specific URL visits. Those who simply landed on a blog post and left the site, the marketing communication was centered on what the particular blog posts might be referring to – product comparison, specific pain-point, etc. Similarly, for those who went further onto checking out the product features and pricing were either targeted with a FREE trial or an enticing time-sensitive discount offer.

Even existing customers, especially those who had stayed in touch a long time back were also retargeted with ads on product upgrades and how the upgraded version was better than its predecessor. Even webinar invites and landing pages were created based on the buying stage of the leads for maximum attendance and sign-ups.

The client particularly wanted to use the ‘Lead Ads’ feature of Facebook and the database was used to run an Ebook and whitepaper lead magnet. The freshly collated contact database was used to target new audience who also in-market buyers and those who genuinely needed or were interested in the client’s products and services.

Results
THE RESULTS

Compared to the client’s existing database, close to 87% more leads were generated, all sales-qualified. The CPL rate jumped up by 140%. What was pleasantly surprising was that the rate of nurture touches was found to be 60%; this helped the client identify a whole new, untapped set of sales-ready leads, leading to windfall gains.

The client also noticed that the rate of view through conversions was also high. Keeping track of this metric besides direct conversions through ads helped the client get a 360-degree view of their customers.

The CMO stated, “We wholeheartedly thank the growth-driven data experts of Lake B2B to help us go beyond site visits. Despite offering quality products and services to healthcare providers, our campaign performance suffered as a result. Thankfully, that is not the case anymore. We have seen our ROIs become 7X and sales cycles shortened to three-fourths of what it was, which is some great news! Hoping to have many more success stories to share in the upcoming months. Thank you Lake B2B for making this happen.”

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