About Conversant Bio
Conversant Bio, Inc. is a leading institute in the procurement of tissue for pharmaceutical research. Headquartered in the world class Hudson-Alpha Institute for Bio-Technology in Huntsville, Alabama. Conversant Bio is partnered with many of the top pharma and biotech groups by procuring the samples they need to conduct informed and life-saving research. The institute is the only provider hyper-annotated tissue samples to researchers around the world. Instituted in the year 2006, they now have a large prospective collections network of 50+ U.S. based clinical sites.
Conversant Bio Business Objective
Conversant Bio, Inc., wants to improve human health by connecting medical professionals, the research community, and the patients to catalyze edge-cutting research and novel therapeutic solutions. They look forward to providing services and products that help in the advancements in cures and treatments to the world’s deadliest diseases. By promoting innovative solutions to the problems, their objective is to create and develop real advancements that will save patient lives at best possible costs. Along with that, their goal is to provide researchers with the highest quality specimens which can help in further experimentation.
Approach/Strategy adopted by Conversant Bio
At Conversant Bio, people knew that they had impactful products that are the need of the hour and are highly desired by the customers. However, their marketing approach wasn’t efficient enough and not aligned to attract the best prospects. There was a dearth of clear communication of their value proposition. Conversant Bio, Inc., approached SmartBug Media to increase ROI and qualified leads. They majorly focused on Inbound marketing. Inbound Marketing or the pulling marketing is the marketing activity that focuses on bringing visitors in rather than marketers having to go out to get the attention of potential customers. Conservant Bio leveraged upon Inbound Marketing to draw customers to the website by producing interesting content.
Here are some strategies adopted by Conversant Bio to increase their ROI
1. Inbound Marketing Assessment
Conversant Bio used SmartBug Media for various purposes. To start with things, SmartBug Media conducted a comprehensive inbound marketing gap analysis. It assessed the company’s ability to attract qualified prospects, turn them into leads, and provide more qualified leads to the sales team. This assessment evaluated Conversant Bio’s content marketing, website, lead nurturing, conversion abilities and other best practices which are carried out for high marketing Return On Investment. It took a holistic view of what Conversant Bio was doing and made suggestions about the areas of improvement. They created an aggressive approach to inbound marketing and optimization of the website by structuring a comprehensive plan for inbound marketing. They transitioned Conversant Bio from marketing-limited Magento web to HubSpot to leverage content marketing efforts and optimize for lead generation. With leveraging upon HubSpot, Conversant Bio had access to the lead conversion, analytics, and social media tools, and blogging for increasing the ROI from their investment.
2. Finding Researchers via Inbound Marketing Methods
Conversant Bio leveraged upon inbound marketing methods to reach various audiences within the research community. They adopted an aggressive and targeted campaign of inbound marketing in order to attract researchers by focusing campaigns in specific disease states. They started a fully-managed campaign that included the development of personalized content, keyword analysis, social media promotion, optimized and targeted blogging, and conversion paths to bring potential contributors to the sales team. Conversant Bio also used the conversion optimization tools so as to enhance the performance of campaigns.
Before these strategies, Conversant Bio got web leads that were either spam or trash.
Results achieved by Conversant Bio
With the help of these two inbound marketing techniques, Conversant Bio saw a commendable growth.
- Within the period of six months, they generated a 250% month-over-month increase in the lead growth.
- Their qualified leads increased from 10%-80% to as much as 700% during the same time.
- The Return On Investment or ROI was skyrocketing to 3,558%. This is even higher if you assume that the clients created from this campaign would continue to buy like any other customers.
- With these growing trends, the expected ROI in the next three-year would be 14,500%.
Learnings
Conversant Bio moved away from conventional digital marketing techniques and leveraged upon inbound marketing techniques to get qualified and better leads for their business. Ranging from salesperson training to thought leadership and educational leave behinds at customer visits, the marketing strategies as constructed by SmartBug Media proved to be beneficial for the tissue leader, Conversant Bio, Inc.
With the help of mainly two strategies (Marketing assessment and targeted campaigns), they increased their profits to manifolds. Conversant Bio’s decision to use methods like blogging, social media portals and other social and analytics tool to spread the value of their business helped them link researchers to doctors and patients. Their decision to extend their hands towards SmartBug Media was a smart move which can now fetch them an increase in ROI up to 14,500%.
