Many healthcare companies are currently challenged with staffing and budget
reductions in response to overall economic turbulence. The healthcare industry experienced the second most layoffs last year, with marketing oftentimes being one of the first teams impacted. Additionally, many companies needed to significantly reduce their in-house marketing spend all while operating with a smaller headcount.
As the healthcare industry continues to innovate and grow despite a general downward economic trend, it is essential that organizations find ways to maintain a strong brand and presence in an increasingly saturated market, despite having fewer resources at their disposal. Partnering with an agency experienced in navigating unique situations, such as those we are experiencing now, can provide the necessary expertise and flexibility to ensure success at critical junctures for your business. Here are four areas where an agency alliance can help you remain agile and competitive despite external setbacks:
Increase Impact
Today’s healthcare industry is in the midst of a major shift, with stakeholders and consumers becoming more educated and involved than ever before. The ideal agency partner is knowledgeable on both historic industry patterns and contemporary trends, able to align their work to ever-changing stakeholder priorities. By engaging in a consultative dynamic with in-house teams, an experienced strategy agency can provide additional perspectives based on their industry expertise. Additionally, an agency’s familiarity with multiple verticals and audience types can inform relevant changes to high-level strategic decisions when necessary. In short, the support of a healthcare-focused agency helps you stay ahead of the competition, even with fewer internal resources, by bringing deep insights based on collective experience and expertise.
Activate Strategic Workflows
The initiative to stay informed of market trends, competitor offerings, and customer needs enables agencies to be expert thought partners. An agency can help expand your knowledge base with industry insights and provide recommendations on how to position your brand for success. They can help establish messaging that not only resonates with customers but also concisely communicates the scientific or clinical value of products. Once effective branding is in place, an agency can seamlessly weave these strategic insights into downstream execution, ensuring that nothing is lost in translation and activation of the brand also leverages the same commercial intelligence. By understanding current market realities and developing impactful strategies to address them, an agency can empower businesses to stay ahead of the competition and build a lasting brand presence.
Streamline Costs and Operations
Engaging with an agency partner can help increase the efficiency of in-house teams looking to streamline operations and optimize performance. Agencies can provide comprehensive resources and talent, which help reduce the burden of day-to-day activities on in-house teams and minimize costs such as hiring FTEs or training and managing a collection of freelancers. With access to a diverse array of skilled industry professionals, such as graphic designers and copywriters, agencies are able to help organizations accomplish complex creative projects with ease and free up internal resources to focus on other tasks. By leveraging experienced marketing personnel, businesses reduce strain on internal resources and receive high-quality assets delivered on time and on budget. Working with an agency partner is a great way for companies to have professional content development and successful creative execution with less effort spent.
Optimized Launch and Expanded Reach
With an agency partner in your corner, access is granted to the latest technology, software, and tools required to execute campaigns and effectively launch products. By once again saving on upfront investment costs, additional funds can be utilized towards media spend to increase awareness and conversions. Web design and social media marketing are already the second and third-most outsourced services by businesses. User experience design and website development capabilities are a must-have when selecting the right agency to ensure that your brand makes a good impression on all stakeholders.
Agencies with a robust media division are able to seamlessly activate paid media opportunities that leverage previously developed strategy or creative work and funnel contacts to an eye-catching website for a truly integrated lead flow. By keeping all activities under one umbrella, analytics for content strategy and media activity can be addressed comprehensively, further optimizing spend.
The Ideal Agency
In today’s uncertain economic climate, healthcare companies are faced with numerous resource challenges and are forced to do more with less. With reduced headcount and available budget, companies should seek an agency partner equipped to bring out the best of their in-house teams. Finding the ideal agency can seem overwhelming but there are key things to look for when making a decision. An agency that’s deeply involved in the healthcare space and has broad experience can bring innovative ideas and fresh perspectives to invigorate your marketing strategy. Downstream capabilities for creative and media execution bring your brand to life without unnecessary internal expenditure. With the need to make every dollar count, the decision to partner with an agency is an investment that will elevate not only your brand but also your marketing resources.
About Justin Luh
Justin Luh is a Brand Strategist at Audacity Health, an independent full-service brand strategy and activation agency that helps biotech and healthcare companies achieve market leadership by sparking emotions. . He holds a degree in human physiology from Boston University and has experience in business development and global marketing. Justin has also driven the execution of regional marketing campaigns for an FDA-approved synthetic bone graft.