Client Sees Upsurge in Medical Device Sales

The U.S. stethoscope market, valued at $143.42 million¹, has known distributors dominating the market with a 43.035% market share. Hospitals and clinics have long-term contracts and tie-ups with these distributors and manufacturers, making it hard for new products to break into the market. Adfie Health’s client wanted to promote a new stethoscope brand with a 75-day risk-free trial message to increase sales.

To increase sales, Adfire Health executed a comprehensive digital advertising strategy incorporating multiple elements.

Handcrafting HCP Audience

With its proprietary database, Thumbprint, Adfire Health targeted HCPs interested in purchasing new stethoscopes, including Primary Care Physicians (PCPs), Emergency Medical Technicians (EMTs), Nurse Practitioners, and Physician Assistants (NPPAs), including diverse segments of gift givers, auditory impaired professionals, and tech early adopters.

Cross-Device Targeting

Personalized advertising experiences were consistently sent to targeted HCP audiences across multiple devices, including desktops, smartphones, and tablets, enhancing engagement and conversion opportunities. Learn more about cross-device.

Retargeting

HCP audiences who had previously interacted with this brand were re-engaged. This allowed us to maintain contact with the audience over the 75-day risk-free trial period, ensuring maximum impact. Learn more about retargeting.

In-App Advertising

Adfire Health capitalized on in-app placements to reach tech-savvy HCPs who were early adopters of technology, aligning with their preferences and habits. Learn more about in-app advertising.

Connected TV (CTV)

Utilizing CTV ads, Adfire Health tapped into the growing trend of online streaming and reached HCP audiences, increasing content consumption through this channel. Learn more about CTV.

The Optimizations

Additionally, the strategy encompassed two critical components used to maximize the impact of the campaign.

ID Pixel Implementation

Implementing the ordered ID pixel allowed for precise tracking and attribution across multiple devices and platforms, enhancing the user experience and providing invaluable data for optimization.

Creative Analysis & Optimization

Through extensive analysis of creatives, we identified the most effective messaging delivered to the top 5 segments of the HCP audience. The campaign’s creative assets were A/B tested rigorously, allowing us to improve campaign performance with data-driven decision-making.

The results of this strategic campaign were nothing short of remarkable. By precisely targeting and appealing to the preferences of PCPs, EMTs, and NPPAs, the company achieved impressive results, showcasing the substantial impact of data-driven marketing on sales and brand success.

30x ROAS:The campaign achieved a 30x return on ad spend, signifying that for every advertising dollar invested, thirty dollars were generated in revenue, effectively meeting the primary goal of driving sales.

$36 CPA:This remarkable performance stands in stark contrast to the industry’s standard CPA of $148.68². It signifies superior cost-efficiency and underscores the potential for substantial savings while maintaining or even exceeding conversion targets.

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At Adfire Health, we work with healthcare marketers to create optimized, highly effective, data-based digital engagement strategies. With Thumbprint™, our segmented data ecosystem of over 8.2 million healthcare professionals, we can offer direct access to healthcare professionals nationwide.

 

We bring our years of hands-on experience to every new campaign and work with you to get the best results possible. Contact us to learn more about what we can do for your business.

Sources

1. Grandview Research. U.S. Stethoscope Market Size, Share & Trends Analysis Report Accessed September 12, 2023.
2. MD Connect. The Most Important Healthcare Mobile Ad Benchmarks. Accessed September 12, 2023.