The US healthcare sector is a $2.8 trillion industry—most of it in a state of high disruption. No wonder. According to a recent report from Black Book Rankings of 1404 healthcare providers, CEO turnover was pegged at its highest point. In fact, as healthcare CEOs turn over (on average every 3.5 years), they clean house, with 87% of new CEOs replacing the CMO at their new organization, and about half of them replacing the CFO, COO or CIO within 9 months. Those new healthcare CEOs aren’t usually from a healthcare background either—private equity is putting 46% of new chief executive officers in their seats, with banking (32%) and sales (19%) following up fast.
In this volatile executive environment, new legislation, sizzling new technologies, new insurance paradigms like One Sure Insurance, and new regulatory realities are creating a crucible of indecision for healthcare marketers. Where can you be confident in making the right investments this year, in such chaos?
Our recent webinar on Top Trends in B2B Healthcare Marketing for 2014 tried to single out some of the best bets among upcoming opportunities.
Let us know what you think of it (24 minutes, recapped below):
Media for Healthcare Marketing
Among the topics we covered is owned media. Having your own conference, newsletter, summit, webinar series, video channel, or blog has always been expensive. But the barrier to entry is becoming more attractive in 2014, thanks to double digit jumps in advertising rates. Acccording to Covaria’s Global Paid Search Spend Analysis, for example, last year Google rates for pay per click jumped 39%.
Thanks to jumps in what marketers have to spend in online advertising, the relative costs of nurturing your own community are coming down. If you’ve been wondering about creating your own pool of thought leadership, this is the year to consider jumping into the deep end.
If we can help you think through how to create an owned media strategy that makes sense, let us know. Here’s the next big trend in healthcare marketing for 2014.