PATIENT LEAD CONVERSION RATES | 6 min read
Written by Loran Simon
For most sleep device businesses, the flow of media attention about the benefits of a good night’s sleep is a dream come true. It increases awareness of sleep-related issues and the products and treatments for it. And it helps to create abundant opportunities for them to create well-structured and managed direct-to-patient digital marketing campaigns that deliver healthy lead conversion rates.
It’s surprising then, that when we audit digital marketing accounts at Somnowell Marketing that’s often not what we see. The lead conversion rates are frequently below one percent.
We're often asked what a good conversion rate looks like for a sleep device business. For leads it should be around 10 percent. It could even be as high as 20 percent if targeting is good, and high intent search terms are used or audiences are extremely warm.
Many small to medium-sized sleep device businesses routinely spend thousands of dollars a month on digital marketing. But these campaigns have almost no chance of success if they are set up using poor targeting or search terms for example, and then managed ineffectively.
Lead conversion rates can be as high as 20 percent if your targeting is good, high intent search terms are used or audiences are extremely warm.
In a world where online advertising is becoming increasingly complex, today’s digital marketers need a high level of skill to track, manage and optimize campaigns if they’re to extract the most value from each dollar that your business spends, while continually reducing wastage.
They also need a deep understanding of what to do with the leads that are generated. This requires a knowledge of each type of prospective patient that you engage with, where that person is in the buyers’ journey, and how to properly manage them so they have the best opportunity possible of accessing your sleep devices and treatments.
When leads come in digital marketers must know how to manage them so these prospective patients have the best chance of accessing your sleep devices and treatments.
When digital marketers are creating and managing campaigns at a global, national and local level, they also need to know how targeting, language and creative assets need to be adapted to resonate with the individual you’re trying to reach.
If your sleep device business is suffering from low lead conversion rates, the following questions are designed to help you pinpoint where possible issues might lie.
Focus on targeting first and foremost
The amount of time it takes for changes to your digital marketing strategy to impact your leads really depends on your website. It’s possible to see a significant uplift quite quickly if it’s in poor shape and critical steps aren’t being taken to continually optimize it.
Other times, it can take longer to see a definite improvement if for example, your business is operating in a competitive segment or your competitors are extremely active on SEO. It’s important to keep in mind though, that SEO changes are cumulative, so making constant ongoing changes is key to achieving the best results.
Somnowell is the sleep device side of our business. Almost a decade ago, when we first launched our oral device for sleep apnea our conversion rates for generating leads and enquiries from our website was around two percent. Fortunately, we were able to change this by bringing in experts who gave us a deep understanding of how to use digital marketing more effectively.
When our efforts paid off and Somnowell started receiving more new patient enquiries every day than we could process manually, we developed our lead distribution and response software to automate this process. It responds to each prospective patient and nurtures them with educational emails and SMSes until they’re ready to connect with dentists in our network. The solution has been so successful that today, many of our Somnowell Marketing clients use it to also overcome the challenge of how to respond efficiently and effectively to the high volumes of new patient enquiries.
You can put a stop to low conversion rates by taking steps to ensure your campaigns are properly set up, well managed and continually optimized. When executed well, digital marketing offers incredible opportunities to generate awareness, connect people with sleep device treatments and products, and educate those who are not currently in the market for a product.
Our free Digital Marketing For Growth Guide shows how digital marketing delivers results at each stage of business growth. It explains why specific tactics – such as SEO and paid search – work well for some stages but not others. And it includes handy checklists to help you benchmark growth.
Loran Simon is the Founder of Somnowell, one of the world’s leading oral appliances to help to cure sleep apnea. Over the past 10 years, Somnowell’s growth has been mainly achieved using the digital marketing services of Somnowell Marketing, an agency that Loran Simon also founded and manages. The agency generates around 4,000 new patient enquiries a month for Somnowell’s network of dentists.
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