Medical Device: DTC Marketing w/ a Proven ROI (The Power of the Referral)

DTC MARKETING
WITH A PROVEN ROI:
Digital Co-Marketing and
the Power of the Referral
Dan Stempel, MD Connect
08.12.2014

Proprietary & Confidential
A Unique ‘Dual’ Perspective
Medical Devices (15+ years) Digital Marketing (8+ years)

Strategic Patient Referral
If you own the patient…
…you own the doctor.

DTC Costs (…a lot!)
Proprietary & Confidential 5
How can you compete?!?!?

Targeting?
What you want:
Patients with a
specific condition
What you get:
 Demographics (age, gender,
socioeconomic status)
 Geographic distribution

ROI Tracking: Focus on what matters!
Impressions
Visitors/Clicks, Rankings, Likes, Followers
Over 90% of agencies focus here
Referrals (Patient Leads)
• Online
• Offline (Phone) (often >80%)
• Quality ( appointments & procedures)
IncreasingValue

Taking the “Direct” Out of DTC
Clients (Hospitals / MDs)
$
Marketing through healthcare
professionals runs the risk of
having your message lost.
Medical Device
Companies
Patients
DTC Marketing
ensures your story is
told the way you want
to tell it.

‘Indirect’ DTC (Practice Enhancement) Tools
Print Ads
Direct Mail
Radio Ads
Patient Brochures Posters
PR / Press Kits
Find-A-Doctor Locators

A NEW PARADIGM:
DIGITAL CO-MARKETING
MD Connect

Is it right for you?
 Prevalent (highly searched) disease/condition
>500K searches per month
 Patient-swaying technology
Will it affect MD choice?
 Consultative sale team
 High $ per procedure (disposable)
$2K+
 Funding?
Not a requirement

Patient Preference?
“All Medicine
is Local.”

Local & Targeted
Web Visitors
Geo-Targeted
Technology?
Single MD-
Hospital
Website
“Directory” Model
Zip Code
Search
Select 1
Of Many
National Site
List of (multiple)
Local Specialists
Client Page
(limited info,
unbranded)
MD?

* With microsite
3 Key Components
1. Targeted online media
2. Microsites
Visitors  Referrals
3. Tracking out to referral
Online & Offline (phone)

(Online) Media Targeting
Linking
Content
Match
Paid
Search
(PPC)
Geo-
Targeting
SEARCH
Search Engine
Optimization
(SEO)
Affiliate
Marketing
Microsites
Language
Targeting
Conversion
Optimization
Extensions
Mobile
Directories
E-mail
Video
Display
Blogs
Ratings &
Reviews
Re-Targeting
Focus
for
Results

Top Media Choices
 Paid Search (PPC)
 Big 3 (Google, Yahoo, MSN/Bing)
 Display (retargeting)
 Social advertising (Facebook)
 Interest-based
 Contextual advertising
 Key themes:
 CPC-based bidding
 Condition targeting

Symptoms
Diagnoses (Dx)
Therapies (Rx)
Resources
• leg pain
• swollen legs
• bulging veins
• varicose veins
• spider veins
• chronic venous ulcer
• vein treatment
• vein removal
• endovenous ablation
• vein center
• vein clinic
• vein specialist
ReturnonInvestment(ROI)
Patient Search
Process
$$$$
In-Media Targeting: Keywords

Benefits of Targeting
$366
$249 $236
$278
$166
$148
$99
$-
$50
$100
$150
$200
$250
$300
$350
$400
Radio Print TV Online
(untargeted)
Online
(targeted) -
Month 1
Online
(targeted) -
Month 2
Online
(targeted &
optimized) -
Month 3
Cost per Referral
Good Targeting &
Optimization Can
Cut Media Costs by
40-60%

Program-specific website(s)
 Localized
MD/Hospital-focused
 Co-branded
 Conversion-optimized
Specialty-focused, ‘just right’ content
 Low cost (free?)
Microsites
19Proprietary & Confidential

Performance Tracking (Referrals!)
Phone Auditing
& Lead Scoring
Referrals
 Not visitors, impressions
 Tracked back to media, keywords
Go beyond the referral  appointment
 Phone auditing, lead scoring

Performance Tracking (ROI)

• Profile
• ~3 million venous-related searches per month
• Technology (RF & laser) created 45-minute office procedure with
90-95% efficacy
• Office-base reimbursement of $2K - $3K
• MDs newer to marketing (more skeptical)
• Results
• COSTLESS program to device company
• Clients receiving 30+ referrals per month
• Referrals convert at ~40% to appointment
• Clients very loyal (>95% renewal rate)
• Nearly 40 clients on program within a year
Case Study #1: Vascular/Venous Device

Case Study #1: Vascular/Venous Device
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
Marketing
Service
All Product
(Pull-Through)
Capital (Laser) Disposable
(New
Accounts)
Disposable
(Converted
Accounts)
Disposable
(Existing
Accounts
Secured)
Device Company Revenue
18 Lasers
Sold
Significant
Pull-Through $
12 Compet.
Conversions

Vascular/Vein (150+ clinics and counting…)
>150,000
Referrals Driven

• Profile
• Joint replacement technology with significant patient appeal
• Significant competition (Stryker, Zimmer, Depuy/J&J, Biomet…)
• ~1.5 million joint surgery-related searches per month
• High reimbursement ($2K surgeon, $20K hospital/ASC)
• Results (within a year)
• >30 clients on program
• >8 million impressions per month (search + Facebook + 100’s websites)
• >1000 verified appointments
• Average client ROI of 721%
• Google best-in-class case study
Case Study #2: Orthopedic Device

• Co-branded microsites
• Integrated high-end content
Video, animations, illustrations, brochures, PR
• >39,000 visitors per month
• >650 referrals per month
Validated to convert at 35%
Case Study #2: Orthopedic Device

Optimization of Spend
$151
$132
$104
$89 $89
$40
$60
$80
$100
$120
$140
$160
$180
$200
August September October November December
Cost Per Referral

Case Study #3: Investment & Return
$22,000
$27,500
$48,490
$61,780
$68,980
$101,220
$8,100 $8,820
$13,625
$17,450 $20,055
$20,600
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
Month 2 Month 3 Month 4 Month 5 Month 6 Month 7
300-400% ROI
( 561% in last month)
Investment
Return
(Disposable Revenue)
(minimum)

Medical Device: DTC Marketing w/ a Proven ROI (The Power of the Referral)

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Medical Device: DTC Marketing w/ a Proven ROI (The Power of the Referral)