Begin with the End: Filling the Bottom of Your Funnel

Or… Going Against the Grain:

When your resources are limited, focus on capturing and converting those prospects closest to closing 

Monday I was just talking with a Medical Device Founder (engineer) who has a brilliant integration of AI into an existing medical technology (I'm sure to get an email after this post goes live). 

He came in looking for some of the typical solutions, i.e., “thought leadership”… otherwise known as top of funnel or deep dives into his brilliant and unique perspective on things. 

However, his budget is limited, and there are a number of other solutions vying for the market right now (increasingly competitive), he’s feeling pressure from his investors to build his sales funnel right now, and he doesn’t really have experience with marketing.

Side Note 1: This latter point means he typically wouldn't be a good fit for us (my agency really shines with companies that have experienced marketing agencies before and simply want more than they can give, and since he doesn’t have an experienced product manager and hasn’t personally experienced typical agencies before, he probably won’t value our unique model and approach to growth).  

Side Note 2: (This will come into play later in this article), there’s a fair amount of search traffic for his category, and since it's relatively new and niche, it’s an easy lift to rank in search. 

In the following article I make the case for leading with the Bottom of Funnel content, along with hypothetical examples using a medical device company that is incorporating AI into existing products. 

Why this scenario? 

According to stats pulled by DataToBiz: “Statistics show that the pharma industry will spend around $3 billion on AI in drug discovery by 2025. 82% of industry experts opine that the industry will continue with the digitalization of its operations during post Covid-19 pandemic.”

In the following I’ll share some typical thinking of Bottom of Funnel content, but also share some less conventional strategies that leverage education and interactive tools that can offer unique avenues to engage your target audience deeply. 

The Current Product / Marketing Innovation Gap

Healthcare is experiencing a surge in AI-driven innovation, leading to advancements that promise to revolutionize patient care, diagnostics, and treatment protocols. 

Despite this rapid technological progress, many companies continue to rely on established marketing methods, like focusing on thought leadership and top-of-the-funnel (ToF) content, which may not resonate as effectively in today's saturated market.

Why? 

There are a few things driving this right now. 

Risk Aversion: The healthcare sector is inherently risk-averse, given the potential consequences on patient health and the heavy regulatory environment. This caution often extends to marketing, where companies prefer tried-and-tested methods over unproven, albeit potentially more effective, modern strategies.

Regulatory Constraints: The regulatory landscape in healthcare can limit the ability to swiftly adopt new marketing tactics, especially those leveraging cutting-edge technologies or novel approaches to data usage and privacy. While this caution is much-needed, over-correction can bleed into efforts to build awareness and drive growth. 

Market Saturation: As more companies attempt to position themselves as thought leaders, the space becomes crowded, increasing the difficulty of standing out through traditional ToF initiatives.

Perceived Credibility: Established companies may believe that thought leadership and educational content at the top of the funnel enhance their credibility, even if these methods don't directly translate into engagement or sales as effectively as they once did.

The Problem with Top-of-Funnel Focus

Relying heavily on ToF content in a market flooded with similar messaging creates noise that dilutes the impact of your marketing efforts. 

The traditional sales funnel, while useful as a conceptual model, often doesn’t reflect the non-linear journey of modern healthcare buyers, who may skip stages or circle back multiple times before making a decision.

Additionally, audiences are becoming increasingly sophisticated and can discern when content is skewed towards selling rather than providing genuine value or insights. This skepticism can lead to disengagement, especially when companies fail to acknowledge or address their biases transparently.

Finally, without a strong, engaged audience, ToF content can fail to generate the leads or conversions it's designed to attract. 

The focus on broad visibility rather than deep engagement can result in marketing efforts that look successful on the surface but don't contribute significantly to growth or sales.

The Case for Bottom-of-Funnel (BoF) Strategy

Focusing on BoF content aligns with the needs of educated prospects who are closer to making a purchasing decision. 

By the time your potential customer is exploring BoF content, they have a good understanding of the market and their needs and are evaluating specific solutions. 

In focusing on BoF, you get: 

Educated and Engaged Prospects: They’re actively seeking solutions, making them more receptive to content that directly addresses their concerns and showcases your product's benefits. 

Efficiency and Conversion: BoF strategies can be more efficient and yield higher conversion rates, as they target prospects with a demonstrated interest in a solution. This focused approach ensures that marketing resources are allocated towards leads that are more likely to convert.

Adaptive Buyer’s Journey: Recognizing that the buyer's journey is not linear allows for more flexible and responsive marketing strategies. Engaging customers at the BoF can capture their attention at the crucial decision-making phase, potentially speeding up the sales cycle.

Let’s look further at the argument for starting with the Bottom of Funnel, benefit by benefit. 

How to Fill the Bottom of Your Funnel

Here’s why prioritizing BoF content should be your focus:

High Intent and Conversion Potential

Individuals consuming BoF content are closer to making a decision, such as purchasing a product or engaging a service. They have moved beyond the awareness stage and are now evaluating their options. 

By targeting them with detailed, informative content that addresses their specific concerns and questions, you increase the likelihood of conversion. BoF content meets them at the decision-making phase, providing the information needed to choose your solution over others.

Typical Example: Solution Comparison Guides

Imagine your AI-enhanced medical device offers superior accuracy and efficiency in diagnosing a particular condition compared to existing solutions. You could create a detailed comparison guide that highlights how your device outperforms others on key metrics such as diagnostic accuracy, speed, user experience, and integration with existing healthcare IT systems. 

This guide would directly speak to healthcare professionals and decision-makers already  looking for the most effective diagnostic tools, providing them with clear, comparative data that showcases your product's advantages, thus directly influencing their purchasing decision.

Atypical Example: Interactive Cost-Benefit Analysis Tool

Develop an online, interactive tool that allows healthcare facilities to input their current operational metrics (such as average diagnosis time, patient throughput, and misdiagnosis rates) and see a personalized report on the potential improvements and cost savings by implementing your AI-enhanced device. 

This tool directly appeals to financial decision-makers by illustrating the tangible return on investment (ROI) in a clear, customized manner, thereby supporting a highly informed purchasing decision.

Sales teams love these, and they often build them ad hoc in Excel. As marketing teams mature and get closer to sales, these tools are shared in an “ah ha” moment and become part of the funnel. 

Establishes Credibility and Trust

In the biotech industry, trust and credibility are everything. BoF content allows you to demonstrate your expertise, reliability, and the unique value proposition of your solutions. By offering deep, insightful analysis, case studies, comparisons, and testimonials, you help potential customers understand why your product or service is the best fit for their needs. This helps reassure them that they are making an informed and sound decision.

Typical Example: White Papers on Clinical Validation

You could publish a white paper detailing a study where your AI-enhanced device was used in clinical settings, demonstrating its effectiveness and reliability. This document should dive into the methodology, participant selection, results, and analysis, concluding with testimonials from the clinicians involved. 

By sharing real-world evidence of your device's performance, you solidify your credibility among highly informed and skeptical medical professionals, reassuring them of the rigor and reliability behind your product. 

Just make sure you have the data, I’ve seen some companies try to do this without supporting data and medical pros poke holes in these right away. 

Atypical Example: AI Algorithm Explainer in Virtual Reality (VR)

Create a VR experience that takes physicians and healthcare providers deep inside a visual journey through your device’s AI algorithm. This experience could demonstrate how the device processes and analyzes patient data to arrive at a diagnosis, highlighting its precision and reliability. By immersing them in the process, you're providing an unparalleled understanding of your technology's inner workings, thus fostering trust through transparency and education.

Using these at trade shows can “wow” those professionals at the fore front of innovation, and add some “fun” to the experience. 

More Efficient Use of Resources

Focusing on BoF content can be a more efficient use of your marketing resources. Instead of casting a wide net with top-of-funnel content that aims to attract a broad audience, BoF content targets those who are more likely to convert, thereby potentially offering a higher ROI. It allows you to allocate your resources towards creating detailed, high-quality content that addresses the specific needs and concerns of a highly targeted audience.

Typical Example: Focused FAQ Section for Decision-Makers

Instead of generic content that broadly covers the basics of AI in medical devices, you develop a comprehensive FAQ section on your website specifically for hospital administrators and healthcare IT professionals. 

This section would address intricate queries about integrating your AI technology with existing healthcare systems, data security, patient privacy compliance, and ongoing support. By concentrating on these detailed questions, you're efficiently using your resources to provide valuable information to those in the decision-making phase, streamlining their journey towards choosing your solution.

Atypical Example: Specialized Online Courses for Healthcare Professionals

Partner with a… partner (lol) to develop an online course or series that educates healthcare professionals on the broader implications of AI in medicine, with a module focusing specifically on your technology. 

This course could cover not just the use of your device but also address common concerns and questions about integrating AI into clinical practice. By educating your audience, you’re directly addressing their informational needs in a structured format, making every marketing dollar spent work harder towards building long-term relationships.

Bonus points if you’re able to offer Continuing Education Credits. 

Accelerates Your Sales Cycle

By providing potential customers with the information they need to make a decision at the BoF stage, you can significantly shorten the sales cycle. Prospects don't have to spend as much time in the research or consideration phases because your content has already supplied them with the answers they need. This can lead to quicker decision-making and faster conversions.

Typical Example: Demos and Webinars

To engage prospects who are evaluating your AI-enhanced medical device, offer interactive demos or webinars that allow them to see the device in action. For instance, you could host a live session where you demonstrate the setup, operation, and unique AI features of your device, followed by a Q&A segment. 

This hands-on experience, coupled with direct responses to specific inquiries, can significantly shorten the decision-making process for potential buyers by immediately addressing their needs and concerns.

Atypical Example: "Choose Your Own Adventure" Simulation with AI Integration

Develop an interactive Choose Your Own Adventure video or simulation that allows a healthcare provider or patient to explore different scenarios with and without your AI-enhanced device.

Users could navigate through various scenarios, making decisions along the way, to see firsthand how the device improves diagnosis, treatment planning, and patient outcomes. This immersive video or tool could empower potential buyers to experience the benefits directly, effectively shortening the sales cycle by accelerating the decision-making process.

SEO Benefits: Showing Up When They’re Searching

From an SEO perspective, BoF content often targets more specific, long-tail keywords that have less competition than broader, top-of-funnel keywords. This can make it easier to rank highly for these terms, driving targeted traffic to your site. Additionally, because this content directly addresses user queries and needs, it can lead to better user engagement metrics, which further boosts your SEO performance.

Starting with BoF content in your biotech SEO strategy can help you quickly attract and convert highly targeted leads, establish your brand’s credibility, and make efficient use of your marketing resources, all while supporting your SEO objectives with targeted, high-quality content.

Typical Example: Optimized Use Case Articles

Focus on creating content that targets long-tail keywords specific to the problems your device solves. For instance, if your device significantly improves early detection of a particular condition, write in-depth articles exploring these use cases. 

Each article could detail scenarios where your device's AI capabilities made a critical difference in diagnosis and treatment outcomes, incorporating keywords like “AI-enhanced early detection of [condition]” and “improving [condition] diagnosis with AI.” 

These articles will not only be highly relevant to searches performed by healthcare professionals looking for advanced solutions but also position your website favorably in search engine results due to their specificity and the high-value information provided.

Atypical Example: Interactive Infographics and Data Visualizations

Instead of just creating traditional articles or blog posts, create interactive infographics or data visualizations that detail the success rates, diagnostic accuracy improvements, or patient outcome enhancements achieved with your device. 

Make these infographics searchable and shareable, and optimize them for long-tail keywords that potential buyers might use when looking for evidence-based improvements offered by AI technologies in healthcare. These interactive elements can increase user engagement on your site, encouraging longer visits and higher sharing potential, which positively impacts your SEO efforts.

By employing these specific examples of BoF content, you can effectively communicate the value of your AI-enhanced medical device to those most likely to benefit from it. This approach demonstrates the sophistication and credibility of your product and also ensures you're engaging with your audience in the most relevant and impactful manner, driving conversions and establishing your company as a leader in your space. 

Embracing Agile Marketing

To address the challenges of growth in the context of rapid innovation, healthcare companies need to embrace more agile and nuanced marketing strategies that reflect the complexities of the buyer's journey. Integrating modern marketing tactics, such as personalized digital campaigns, interactive tools, and targeted BoF content, can enhance engagement and drive growth more effectively than traditional, linear approaches.

Leveraging data analytics and AI not just in product development but also in understanding and predicting customer behaviors can provide insights that refine marketing strategies further. In essence, the same innovative spirit driving product development should be applied to how you approach your marketing of the product. 

Need Help? 

If you’re just getting into Biotech Marketing, or are looking for help growing your business, my digital marketing agency can help. If you’re not ready yet, but need strategic advice on building your marketing engine from the ground up, I provide Fractional CMO services, so DM today.