Marketing Episode Part 1: Ashley Dauwer, Carium and Carlin Lee, MedChat

Marketing and sales can sometimes live in different “time zones.” Marketing focuses on the future, following projected trends and the big picture, whereas the sales team must rely on previous successful strategies to secure the present. Marketing must continually generate leads to keep the company’s business momentum moving forward, and the sales team must convert those leads to keep the business operational. 

Source Gem.com

When marketing and sales teams successfully collaborate, all systems are elevated. Marketing materials are top-notch, the sales team has the emotional intelligence to pivot after losing a sale, and competitor analysis improves. 

One study found "89.1 percent of companies that aligned sales and marketing lead generation efforts reported measurable increases in the number of leads that converted to opportunities." It's also been found by the Aberdeen Group that alignment between sales and marketing can "achieve an average 32 percent annual revenue growth over the previous year compared to an average 7 percent decline for their less well-aligned competitors."

Thanks to a joint study by MarketingProfs and MathMarketing, "organizations with tightly aligned sales and marketing functions enjoyed 36 percent higher customer retention rates and achieved 38 percent higher sales win rates."

The podcast series features rockstar marketing leaders in the healthcare and SaaS space. The GOAL is to help the listeners understand marketing metrics, experiences and bridge the knowledge gap between sales & marketing!

---

Part 1 Episode features Ashley Dauwer, Marketing Director at Carium and Carlin Lee VP, Growth Marketing MedChat!

Ashley Dawer, Marketing Director at Carium

• She has deep healthcare experience working 7 years in the EMR space in various differnet roles a Meditech. Ashley is passionate about patient care and believe there are so many organizations at the forefront of making healthcare more convenient and personalized through new care delivery models, and she’s excited and proud to be telling some of their stories as Marketing Director at Carium.

• Carium is a complete Care Experience Platform (CXP) delivering the next generation of advanced virtual care. In my role, I support marketing strategy and execution, with a particular focus on events, public and media relations, and social media strategy. Together, our team illustrates Carium's brand to increase awareness in the market.

Carlin Lee, VP Growth MedChat

• Carlin is a seasoned digital healthcare leader spanning 15 years, currently working in market development and growth marketing roles at MedChat. Previously he led growth marketing at SiteRx, the leading platform for providers and patients to access clinical trials. Prior to joining SiteRx, Carlin led sales operations and strategy efforts at Healthgrades for the hospital division. Carlin has a deep understanding of commercial operations, healthcare finance, B2B negotiation/contracting, and digital healthcare B2C marketplaces.

Segments

1. Intros

2. Patient/ Clinician Impact: Panel shares the most memorable patient story or clinician impact story of how marketing impacted the frontlines of healthcare 

3. Top Ten & Bottom Ten: Best and Worst Stories of all time collaborating and working with sales 

4. Math Time: KEY metrics that define success in your marketing role 

5. Tech Booster: Marketing tool our panel couldn’t live without/ or your favorite new tool you have discovered)

6. Quick Plug: Carium & MedChat

Make sure to connect with Carlin and Ashley and follow Carium and MedChat on Linkedin!

---

Glossary of Marketing Acronyms

• Customer Acquisition Cost (CAC): CAC = [Total cost of sales + Total cost of marketing] / New customers acquired 

  • CAC is the cost of acquiring a new customer. This includes all marketing and sales expenses, such as advertising, salaries, and commissions. A high CAC can indicate that the startup is spending too much on customer acquisition and may need to adjust its strategy.

  • If a startup spends $10,000 on advertising and generates 100 new customers, then the CAC would be $100.

• Lifetime Value (LTV): LTV is the total revenue that a customer generates over the course of their relationship with the startup. A high LTV indicates that the startup is retaining customers and generating repeat business, which is critical for long-term growth

  • If a customer spends an average of $50 per month and remains a customer for 2 years, then the LTV would be $1,200 ($50 x 24 months)

• Conversion Rate: Conversion rate measures the percentage of website visitors or leads that become customers. A high conversion rate indicates that the startup's marketing and sales messaging is resonating with its target audience and driving action.

  • If a startup generates 1,000 leads from a marketing campaign and 100 of those leads become paying customers, then the conversion rate would be 10%.

• Sales Pipeline: The sales pipeline tracks the progress of leads through the sales process, from initial contact to closed deal. By analyzing the pipeline, the startup can identify areas of opportunity for optimization and improve the efficiency of its sales process.

• Monthly Recurring Revenue (MRR): MRR is the amount of revenue that the startup generates from its recurring revenue streams each month. This metric is critical for startups that operate on a subscription-based model

  • If a startup has 100 customers on a subscription-based plan and charges $50 per month, then the MRR would be $5,000.

• Churn Rate: Churn rate measures the rate at which customers cancel their subscriptions or stop doing business with the startup. A high churn rate can indicate that the startup needs to improve its product or service to retain customers.

  • If a startup loses 10 out of 100 customers in a given month, then the churn rate would be 10%.

• Net Promoter Score (NPS): NPS measures the loyalty of a startup's customers and their likelihood to refer the startup to others. A high NPS can indicate that the startup is delivering a great customer experience and building a strong brand reputation.

• MQL - Marketing Qualified Lead: MQL is a term used in SaaS sales and marketing to refer to a lead that has been determined by marketing efforts to be more likely to convert into a customer.

• SQL - Sales Qualified Lead: SQL is a term used in SaaS sales and marketing to refer to a lead that has been determined by the sales team to be more likely to convert into a paying customer.

• ACV - Annual Contract Value: ACV is a metric used in SaaS sales to measure the average value of an annual contract or subscription with a customer.

• CTA - Call to Action: CTA is a marketing term used in SaaS sales and marketing to refer to a clear instruction given to the audience to take a specific action, such as "Sign Up Now," "Request a Demo," or "Start Your Free Trial." CTAs are designed to encourage prospects to take action and engage with the product or service.

• CRM - Customer Relationship Management: CRM is a system or strategy used in SaaS sales and marketing to manage and analyze customer interactions and data.

Stay Tuned for Part 2 of the Marketing Series later this week!

---

Please make sure to Subscribe, Comment, Share, and Review!

Connect with me on Linkedin or visit the website for more Podcast + Sales Resources

Host: Josh Pappas, Director of Sales Tend

• PROFESSIONAL and PERSONAL Development: Make Sure to register for this summer’s Young Health Leader Summit. Make sure to use code: “TEAMJOSH” for discounted registration

• NOMINATE a FUTURE Podcast Guest!

  CLICK HERE to nominate a friend, clinician, executive, co-worker, colleague, or customer! I want to connect with people making a difference in healthcare to be able to share their stories. No investment $ needed…just cool people! :)