These days, medical doctors are paying a lot of attention to digitally native companies (DNBs), and for good reason
DNBs make up a growing portion of the market’s disruptive players, accounting for 15% of the new unicorns financed in 2020, up from 10% in 2019 and 5% in 2018.
One of the Top Insights
The fastest-growing of them have grown from $50 million in sales to $1 billion in four to eight years, rising at three times the pace of total e-commerce.
The most popular consumer-facing brands—such as those for food delivery applications, tech-enabled workout machines, and hair-coloring systems—are category innovators that excel at winning over committed consumers.
Due to their online roots, medical DNBs have two significant advantages over their competitors: in-depth knowledge of their client base and broad control over the customer file. No matter if a DNB is a service, a product, or a combination of both, what distinguishes them from other brands is that brand owners are completely aware of who their customers are. That is to say, what online activity brought them to the brand’s attention in the first place, and what they’re most likely to purchase next. This realization opens up possibilities for developing strong, long-lasting medical connections with clients. It’s a benefit that will endure even if DNBs later on in their life cycle decide to open brick-and-mortar locations.
Today, low barriers to entry have encouraged an explosion of DNBs, flooding the market with the fruits of creative entrepreneurship. However, DNBs that breakthrough with outsize investor returns are rare. Over the past two decades, fewer than 0.5 percent of DNBs have reached $100 million in revenues. In fact, more than 90 percent of businesses that originated through e-commerce earn less than $1 million in annual revenues. Investors face the challenge of sifting through concepts to determine which are worthy of the capital required to scale a business or buy into an existing company at high multiples.
Investors may determine if DNBs are prepared for development and future profitability in several ways, most of which are based on a knowledge of how appealing their customer base is and how much it will cost to recruit new clients. Potential patients who are groping in the cyber dark looking for the right doctor and clinic to go to depend on SEO and DNB in their search for proper medical care. The Yellow Pages are long gone. Referrals all come from the internet today.
For medical doctors
For medical doctors, the stakes are particularly high. Medical practitioners stand a good chance of having their reputation stolen without a professional presence on the internet, especially on social media such as Twitter, LinkedIn, and Facebook. Even their very identity and credentials can be commandeered by someone else online. In other words, the chances of fraud, identity theft, ransomware, and just plain mischief, are enormous. If you do not want to take such chances, then be sure you are a master of your Medical Practice SEO agenda, and have it plainly marked and branded.