In market targeting, medical professionals are one of the most lucrative demographic targets. They are difficult to reach because they are extremely busy and have little time and patience for sales pitches. However, because medical professionals generate a lot of wealth, they are very much interested in financial vehicles that will provide security and growth. Many large banks, hedge funds, online wealth services cater to this niche market through television commercials, and by using various SEO techniques in their digital market targeting programs.
For a smaller financial investment company to penetrate this market requires a creative approach. A proven path of success is to offer something of value for free as a loss leader. Free seminars on various investment options, provided as a webinar, have had good results.
It is always smart to review and analyze competitive promotional programs that target a particular niche market. Big banks offer free online educational content that is geared to high-income medical professionals. Many other online wealth management firms focus their advertising budget on getting responses from this niche. Long-tail keywords like “investing webinars for doctors” usually bring up the big banks and other large financial institutions. Most searches will not go beyond the first two pages.
As a smaller competitor, you need to find solutions that circumvent the advertising might of the big players. Fortunately, digital marketing offers some low-cost solutions that can be deployed effectively:
Set up a list of keywords that are critical to medical webinar searches. Ensure that these are dispersed across your Company’s website, and blogs on medical topics. Follow up by organically developing search engine optimization. Possibly advertise on Google, and create back-links from prestigious medical magazines.
Create an Accurate Financial Profile of the Market
Effective marketing requires an in-depth knowledge of the needs and wants of the target market. Provide creative solutions to the niche medical market with the following profile:
– Laxity with their financial planning.
– Lack of financial literacy.
– Poor financial discipline.
– Lack of long-term planning.
– Find it difficult to seek financial advice.
– Don’t have effective tax strategies or neglect to optimize them.
– Use their accountants for advice who are not skilled financial advisers.
The list contains a type of customer-centric SWOT analysis (strengths, weaknesses, opportunities, threats). Feature this on your company’s website or blog. As a result, it ill force a realistic look in the mirror. Additionally, subtly direct visitors to participate in a webinar that will propose answers. Companies with bigger budgets can go one step further. They can place advertisements in local or regional radio and television shows. As a result, these ads will promote more interactive participation through webinars.
Marketing should always address the four basic needs of any consumer – the four P’s: price, pride, profit, peace of mind. These are particularly pertinent to the medical community.
Expand the Promotional Horizon
Offline marketing is just as important as digital target marketing. Moreover, it can focus on medical professionals directly (brochures, pamphlets). Also, you go through intermediaries such as accounting firms and pharmaceutical representatives who advise them. In addition, permission-e-mailing is a proven cost-effective strategy. Furthermore, click-funnels are a useful recent entry to website visitors’ conversions.
There are other avenues of promotion and advertising that could be developed. Use marketing agencies, which are specialized in every facet of digital marketing. This includes SEO, SMO strategies and techniques that fully employ the power of the Internet.
Brand Yourself As a Specialist
Online seminars that focus on wealth management for the medical profession gain traffic and conversions. Firstly, brand your company as being highly specialized to cater to the medical niche. Secondly, use slogans like, “We Specialize in Financial Advice for Doctors”. Thirdly, let it become a rallying call and a brand recognition strategy.