How Cross Screen Media, a unified video advertising platform investigated and then successfully entered the US Healthcare Market.
In this post, I will review why Cross Screen Media decided to enter the US healthcare market, and how they approached this. I will then dive into how healthlaunchpad helped them with their market entry strategy and some of the keys to the success
Who is Cross Screen Media?
Cross Screen Media is an innovative digital marketing technology company. They solve one of the trickiest issues in marketing, how to plan, buy and measure advertising across the exploding choice of video channels.
That is, they guide their customers on how to plan and buy video advertising across a wide array of different channels which include:
- Traditional broadcast
- Cable TV advertising
- Advertising on streaming TV
- Advertising on connected TV channels
- Video ads in Social Media Channels.
As part of their long-term growth strategy, Cross Screen Media’s big question was which markets would benefit from their strength in marketing analytics and how best to plan, buy television and video advertising?
Why The US Healthcare Market?
The US Healthcare market entry seemed like a good fit. In particular, as Cross Screen Media a hyperlocal marketing strength seemed very important to healthcare providers.
They could also target customers based on behavior that seemed highly relevant to healthcare marketers.
They engaged healthlaunchpad to help them investigate the market.
The 4-Step Market Entry Process
Working with Cross Screen Media’s Chief Revenue Officer, Dave Pollett, and their VP of Marketing, Dan Schreff, healthlaunchpad, undertook a 4-step market entry approach.
This approach was designed to identify opportunities and also to mitigate potential risks to their market entry.
At each step of the process, the Cross Screen Media Management Team was well-informed about both the upside and the risks of moving to the next phase
Step # 1 – Healthcare Market Entry Validation
To validate Cross Screen Media‘s healthcare market entry, we wanted to find out two things:
- Is the US Healthcare market receptive to Cross Screen Media’s value proposition?
- How should we best position Cross Screen Media in healthcare?
To get the answers, we conducted 45-minute 1:1 interviews with 6 executives. This included leaders from media-buying agencies who specialized in healthcare marketing and Chief Marketing Executives of large healthcare organizations.
During the interview, we probed to understand what forms of marketing they used. Further, we wanted to know where TV and video advertising fit in their marketing plans.
The participants’ responses confirmed the importance of TV and video advertising. The research further validated the challenges of managing media plans across different video channels.
Most importantly, it confirmed their interest in exploring convergent TV channels like connected TV.
It was clear that Cross Screen Media‘s entry into the US healthcare market would help address an unmet need for more cost-effective advertising through convergent TV channels.
In addition, we developed 6 short positioning statements that allowed us to explore different messaging approaches.
This also helped us understand nuances in how best to communicate the proposition most compellingly.
Through this process, we confirmed that the ability to use better intelligence about media consumption to target healthcare audiences more cost-effectively was the most compelling message
Download the US Healthcare Segmentation White Paper
How the US healthcare Provider and Payer market is segmented, size of each segment and how each segment is structured.
Step # 2 – Building Healthcare Target Account List
After successful validation that there was an opportunity for Cross Screen Media’s healthcare market entry, our next task was to help create a Target Accounts List (TAL)
Initially, we developed two Ideal Customer Profiles (ICP) focusing on Healthcare Agencies and Large healthcare organizations.
The agencies were selected as ICP because they purchased the majority of the media. Therefore, they had the most immediate need.
We also decided to pursue large healthcare systems with significant media budgets as they were strong influencers on the spending decisions. Moreover, some of the organizations were already showing interest in taking media buying in-house.
Working with the Cross Screen Media sales team, we defined the criteria for the target list through account intelligence data sources. Cross Screen Media then purchased a list and then built the TAL in Hubspot.
Step #3 – Healthcare Market Entry Test
The next step was to start generating leads. Armed with a target account list and clear messaging, the sales team started developing outbound prospecting campaigns.
In parallel, healthlaunchpad developed a webinar-based marketing program. The primary goal was to create awareness and leads among healthcare marketers and their agencies.
We reached out to the SHSMD, the American Hospital Association’s division that was focused on marketing executives.
Through a partnership with SHSMD, we created a webinar on how convergent TV would be critical in getting reluctant patients back into the hospitals. SHSMD marketed this to their database.
Over 250 healthcare marketing and agency executives registered for the session, and more than half attended. The educational webinar on convergent TV was very well-received.
As a result, Cross Screen Media had inquiries from several prospects.
Step # 4 – Scaling Up Healthcare B2B Marketing
Following its initial market entry success, Cross Screen Media with the help of healthlaunchpad has expanded its foray into healthcare. This has been achieved through the following campaign approaches:
- Blog Series addressing different needs for the top personas
- A 2500-word White Paper
- LinkedIn Advertising promoting the white paper to the top personas at an account list provided by Cross Screen Media
- Additional Webinar through another marketing partner, HTMC
- Email Marketing
In addition, Cross Screen Media has formed partnerships with complementary US healthcare marketing firms as a strategy to grow its sales pipeline
What Cross Screen Media Says About healthlaunchpad
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Dave Pollett, Chief Revenue Officer, Cross Screen Media
“Adam and healthlaunchpad are a rare breed. They combine deep expertise in how to sell and market to healthcare with superpowers in ABM. They know their stuff and they put it into action. If you are trying to figure out how to sell in the healthcare sector, you have to talk to these guys.”
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Dan Schreff, VP of Marketing, Cross Screen Media
“Adam and his healthlaunchpad team have been excellent team members for building our healthcare vertical. They helped us quickly gain insight directly from prospects to understand where we can add the most value to our healthcare customers. They were also great partners in developing our go-to-market strategy and executing a set of programs that generated a strong pipeline. Highly recommend!”
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