5 Recommended Performance Diagnostics to Boost Health IT Video Marketing Conversions
Co-authored by Dan Greenfield and Joel Goobich
It’s the first week of the new year, so it’s time for you and your health IT marketing team to make your resolutions. If you’re like the rest of us, you’ll probably forget most of them, but here’s one worth keeping.
It’s making video a content marketing priority. If you aren’t using it, it’s time to get started. And if you are using it, have it play a bigger role in your marketing and sales strategy. Here’s why:
Health IT Video Marketing and Industry Trends
Forecasts point to a surging video web presence and an expanded adoption of B2B video marketing. That’s because video works. Even better, it’s getting easier and less expensive to produce.
A well cited Google and HIMSS study looked at how hospital administrators make purchase decisions. Among its findings:
- 8 in 10 decision makers return to a specific product’s website after watching a video
- 6 in 10 contact a vendor directly after watching a video online
- 3 out of 5 talk with others and discuss what they learned after watching
- 42% will then request a proposal
- 32% will complete a contact form
Still a Vidyard report found that healthcare lags behind the top industries in producing video content for marketing, sales, and communications.
For those of us in the EHR/health IT space, it’s a good idea to reconsider our level of commitment. Industry trends point to greater competition as industry consolidation continues.
Past reports typically forecasted a 20% increase in the EHR market per year. Now revenue growth will range 5-10%. Kalorama Information
New market realities require us to embrace new tools to highlight our efforts to streamline processes and improve the user experience. Video is a great way to stand out from the competition in ways that text and static images can’t.
5 Conversion-Boosting Video Performance Diagnostics
Video in your marketing can increase conversion rates. 65% of executives have visited a vendor’s site after watching a video.
To boost conversions rates on your health IT video marketing and generate leads, we recommend you conduct the following five diagnostics to make sure your videos operate at peak performance:
- The Right Medium
- Visual Style and Form
Diagnostics 1: The Right Medium
Why are you using video? Are you maximizing the medium? How do you strike the right content marketing mix of content mediums?
There are many ways to present online content – text, images/art work, infographics, videos. etc. Your prospects may prefer one medium over another or a combination at different times during the decision making process.
A practice administrator may want to see a video demo of your product or a testimonial from a peer. A physician may want a case study that delves into the data. An IT person may be looking for quick information about interoperability from a blog post.
The video advantage is immediacy, emotion and economy (saying a lot more in less time). The combination of sound, images and motion grabs customer attention. It shows your product in action.
Videos needn’t be overproduced testimonials, animated screen grabs that don’t address specific questions, or visually boring talking heads in front of a white screen. There are a whole range of options from demos and explainers to webinars, personal email and even interactive video that grab viewer attention and generate leads.
Diagnostics 2: Measurement
How do you measure success? What are the key metrics? What is the relationship between viewer duration and response rates?
Producing a video is only half the battle. What separates a successful video marketing campaign from a failed one is getting someone to watch it and act upon your Call to Action (CTA).
Number of Clicks
The most obvious measurement, but generally not the most informative, is the number of views (clicks). While it is encouraging that a video has a lot of viewers, this measurement does not discern between those that watched for one second and those that watched the entire video.
A more insightful metric is the retention rate; how much of the video someone actually watched. If everyone who clicked on the video watched it through it’s entirely this would correspond to a 100% retention.
The reality is that a B2B video, even one that is incorporated into a direct email campaign generates a lower retention rate. Values in the 60 – 70% range are considered good. Retention rates below 50% indicate that either the content of the video was not compelling or the video itself was too long.
The most important metric is video conversions. Conversions can be measured by assessing the number of video viewers who took action after viewing the video.
This could be something as simple as measuring the number of direct clicks to a website after viewing the video, number of download, phone calls, etc. The conversation rate is highly dependent on the CTA and when it appears in the video.
There are more granular and advanced metrics that can be used. However, for most business videos, the critical ones are tied to a direct action on the part of the viewer.
Diagnostics 3: Audience
Multiple Decision Makers
To maximize your impact, avoid one size fits all videos. Take into account your different stakeholders. Your target audience is composed of three different groups:
- – Clinical (Physician and Physician Owners)
- – Business (Practice Administrator/Executive)
- – IT/Technical
They all may not make the final purchase decision, but the decision is often a collaborative process. Be prepared to have your videos address questions reflecting their different roles.
Different Organizations (specialties):
Just as you must address different stakeholders, consider where they work: group practices, clinics and larger facilities are different. And don’t forget specialties and sub-specialties.
Keep your video content relevant as your prospects move through the product evaluation process.
That requires the right content, at the right time, in the right context. Explainers and demo videos showing features and functionality are helpful in the information gathering stage to explain what your solution is. Testimonials are useful as prospects begin to compare solutions and want validation on how you’re different and better. And brand building videos connect with your prospects on an emotional, personal level — highlighting who you are.
Tomorrow:– Diagnostic 4: Content and Diagnostic 5: Visual Style and Form
About the Authors:
Dan Greenfield is Principal of Health Tech Insight, a content marketing specializing in helping health IT companies reach physician practices, clinics and healthcare organizations. He has an extensive background in PR, corporate communications, video production and event planning. His Health Tech Insight services include blogs, video, infographics, case studies, webinars and podcasts.
Joel Goobich is the President of Big Picture Advisors, a consultancy dedicated to the use of video marketing to spur business and revenue growth. He helps SMBs and Startups efficiently utilize the power of video in a changing and modern business environment. His popular weekly podcast series Video Marketing 2.0 explored the new paradigm of video marketing for business.