Medical companies are relying on custom-developed platforms for reporting revenue from marketing efforts. Metrics from website analytics, online advertising campaigns, social media campaigns, CRMs and many other sources auto-populate on an online, real-time dashboard so that entire marketing teams, even global ones, can access data. The more complex the marketing programs, the more sense this makes.
This platform allows executives to monitor individual departments and overall progress toward quarterly and annual targets. It allows managers to have a finger on the pulse of all activities, and to have the agility and responsiveness to scale back poorly performing initiatives and ramp up well-performing ones. The real-time reports generated from the dashboard give context and direction to management and stakeholder meetings. In short, the platform allows all parties to see precise impact analysis 24 hours a day, 7 days a week, 365 days a year.
Viv Marketing builds these dashboards for medical device, pharmaceutical, and biotech companies, and has provided hundreds of them to healthcare practices across the nation. In one case, Myobrace, an Australian-based company, sought to increase exposure and brand awareness for its orthodontic device in the United States. After completing market research and reviving the brand for the U.S. market, Viv implemented a robust online marketing strategy that included search engine optimization, Google AdWords online advertising, and Facebook advertising targeting consumers and providers. Viv identified key markets within the U.S. to target based on the level of saturation for practices that provided Myobrace treatment.
Access to real-time data showed Viv and Myobrace that organic website traffic from the U.S. increased month-over-month, and online advertisements averaged top positions over the life of the campaign. The click-through-rate averaged a strong 1.43% over the life of the campaign. The Facebook campaign yielded hundreds of likes and clicks and thousands of impressions among the targeted U.S. cities.
It also showed a dramatic decline in activity when online advertisements inadvertently stopped due to a media buy glitch. The dashboard allowed immediate alert and course correction, which added up to real revenue dollars recovered.
Wendy O’Donovan Phillips is CEO of Viv Marketing, serving the medical industry for 10 years. The agency offers more than 50 different marketing tactics, all backed by research. Wendy has been honored by the American Marketing Association for excellence in her field, and she has been hired by the American Dental Association as an expert consultant in marketing.