Alignment—It’s Time for Healthcare to Figure it OutPosted on April 28th, 2020 by Cameron Schulz
With employer spending on healthcare climbing to over 40% per enrollee in the last decade, healthcare is one of the fastest growing sectors in the US. As the sector tries to keep their growth curve aimed for the sky, the pressure pours over onto the revenue raisers: marketing and sales. Marketing and sales are rapidly taking on water and those who refuse to adopt alignment are sinking. It’s time to embrace one another to levee the rising waters of demand.
Blending Sales and Marketing: A No-Brainer
When sales and marketing collaborate, companies see 36% higher customer retention and 38% higher sales win rates. The adoption of a partnership between marketing and sales allows marketing to tap into the unlimited information at the fingertips of those on the front lines of healthcare sales. Salespeople are drowning in marketing content. Much of which, given the chance, they will tell you is ineffective, outdated, and downright painful to absorb. Marketing should be communicating with those who directly interact with target audiences to identify what consumers find to be deep, convincing sales content and what they find to be shallow and unhelpful. With insights from the sales team, the marketing team can pinpoint effective tactics and apply them in creating new materials. The continuous cycle of creation, feedback, adjustment results in consistently increased quality all around. The blending of sales and marketing is a no-brainer, but, as with so many things in healthcare, nothing is ever as easy as it seems.
What’s the Hold-up Healthcare?
- HIPAA Compliance: HIPAA Privacy Rules are strict on what marketers can do with patient information. Additionally, any infraction of these rules carries the possibility for hefty fines and even prosecution. In total, HIPAA non-compliance cost healthcare companies over 15 million dollars in 2019. It’s safe to say there is a very thin line that marketers must toe in order to deliver credible, convincing materials to their salespeople. The restriction of patient information narrows customization, discourages fluidity, and limits the ability of salespeople to tailor their pitches to fit specific customer needs.
- A Market in Constant Flux: Amid the erratic forces of insurance companies and politics, healthcare is an industry in perpetually changing currents. Services, costs, and eligablities are subject to frequent adjustments. Without continuous fact checking and easy modification, marketing materials can become outdated and inaccurate before the sales reps can even introduce themselves to their prospects.
- Absence of Trust: Over the past 20 or so years, consolidation among both providers and insurers has reduced competition in healthcare. This has led to discrepancies between marketing claims and services received. Murky waters caused consumers to question the trustworthiness of those in the healthcare industry.
- Under investment: Considering the regulations and risk profiles, healthcare companies are usually behind when it comes to the latest sales and marketing technology. Proper digital tools can assist in measuring, visualizing, and delivering sales tools with real-time intelligence. Healthcare has only scratched the surface of the electronic record keeping, data mining, and AI technology available in 2020.
How can Triptych be a Unique Asset in Healthcare Sales and Marketing Alignment?
- Customization-fits-all: Gone are the days of one size. Customization is key in todays selling environment. Triptych’s platform allows marketing departments to create brand consistent templates that sales reps can customize to fit their personal pitch approach and their client’s specific needs.
- Security is Built In: As a HITRUST CSF certified company since 2018, Triptych is highly proficient in relevant HIPAA regulations. HIPAA and HITRUST CSF compliance is built-in and automated to ensure every template your marketers upload and every customized piece of content your sales representatives create is in line with the necessary regulations.
- Real-time Data: Triptych also allows marketing departments to receive real-time insights on the effectiveness of their content. Identifying compelling content reduces the amount of unused materials and drives quality content over quantity content.
Alignment—Bringing You Closer to Your Clients
Misalignment of sales and marketing creates disputes on lead quality and budget allocation—shifting the focus from client needs to interdepartmental squabbles. With patients and employers becoming increasingly educated and aware when it comes to choosing providers and creating benefits packages, there’s no time to squander on inaccurately focused resources. Alignment eliminates bickering between departments and turns the focus 360 degrees to concentrate on creating strategic content that sales reps can easily tailor to their clients—current and future. Definitively bringing you closer to your client.