In90group was appointed to implement an improved sales and marketing plan for the market expansion of HCIdea. However, before in90group could initiate their plans for updated methods, measurable sales goals needed to be established to benchmark the terms of success and address current hindrances. The top two concurrent goals were defined as achieving an increase in qualified leads (the number of clients that intend to purchase) and driving long term sales growth. To forecast its potential and design long term marketing strategies, HCIdea also needed to be evaluated for its future value proposition. And determining its product market fit was another challenging responsibility.
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Sales for NCPDP’s HCIdea product, a database of 2.5 million prescribers, started to decline. And the board of directors needed a prompt assessment to determine the cause. Stumped by the complexity of HCIdea’s downturn and the impending time limitations, the board enlisted the service of in90group. NCPDP decided it was in need of a subject matter expert to direct and improve their overall marketing strategy for HCIdea. Adding in90group to their product team was a measure taken to better understand the market for HCIdea, which was a product aimed to assist healthcare organizations in processing cleaner insurance claims and avoiding the fraudulent ones. Better understanding the product market fit and what it takes to make the product offering successful was key to developing and executing a sales and marketing plan for both NCPDP and in90group.
NCPDP is a non-profit organization committed to advancing standards and knowledge through the application of business solutions in the Healthcare Industry. Through their solutions, the organization strives to improve patient safety and health outcomes, while respectively decreasing costs. The organization itself is comprised of 1575 members who bring high-level expertise and diverse perspectives. With their HCIdea product, NCDPD leverages prescriber data to support claims-operators in the reimbursement process with more accurate and efficient information. HCIdea was primarily designed to add value to healthcare organizations by lowering their potential risk of loss yet the product miscommunicated its value adding messaging. Which resulted in the request to build product awareness and generate more qualified leads.
In90group implemented fundamental marketing processes and tools to shape HCIdea’s product advancements. Sales enablement tools and materials for support such as the establishment of a sales pipeline, workflows, flyers, emails, messaging, webinars, and other lead building activities were all initiated and created. A demand generation program was also created to facilitate present and future product evaluations. Throughout duration of NCPDP’s engagement with in90group, in90group warranted complete collaboration. There was a great effort exerted in frequent communication and updates which went beyond solving the current issue at hand. It progressed into future strategies. For example, the management of qualified leads and service level agreements between sales team and marketing team was revisited and revised to improve product deployment decisions in the current state and in future situations. In90group even concluded their engagement with the development of alternative revenue growth strategies and recommendations for future go-to-market methods
In90group was able to help NCPDP grow their pipeline with a 200-300% increase in leads. NCPDP’s generated qualified leads to date are 138 marketing qualified leads (August 2017). The marketing qualified leads or MQLs are defined as a lead that is more likely to become a future client than other leads. In90group had to thoroughly study the demographics, activities, and behaviors of HCIdea’s base market to execute the forwardlooking lead building activities. Through their processes and implementation of marketing tools, in90group successfully aided NCPDP in increasing sales.