The healthcare subscriptions eCommerce market refers to sites where customers can sign up for subscription services that provide access to various healthcare products and services.
These specialized services offer a convenient and personalized way for customers to manage their health and well-being in addition to accessing a range of healthcare products and services, including vitamins and supplements, prescription medication, medical equipment, telemedicine services, and health coaching.
The healthcare subscriptions eCommerce market is highly competitive, with numerous players offering a range of subscription options providing varying healthcare products and services. In addition, services often include access to licensed healthcare professionals that can be customized to meet individual health needs.
Read on to learn about important healthcare subscriptions eCommerce benchmarks to help you acquire a loyal customer base.
The healthcare subscription market is rapidly growing, driven by the increasing demand for convenient and accessible healthcare solutions along with the desire for personalized and proactive approaches to managing one's health.
Gaining loyal customers who maintain their subscriptions depends on maximizing your marketing efforts. Your business’ conversion rate (CVR) is among the most important KPIs to track and improve. Conversion rates describe the percentage of visitors to your site that sign up and become customers. As an example, if you have 250 visitors and 25 sign up, your CVR is 10%.
You can put healthcare subscriptions conversion rate benchmarks to work to help understand if your market efforts are typical for your industry or falling behind. You can see below how the Varos platform indicates the average CVR for this healthcare subscription Facebook Ads is 2.4%.
The healthcare subscriptions market is a subcategory of the overall health and wellbeing market. Successful businesses in this market use a variety of sources to attract visitors and acquire loyal customers, including:
However, it’s crucial to also understand that most businesses do not widely report traffic data. That’s why the Varos platform is a valuable way to grant deeper insights into how your peers find customers.
Varos shows that healthcare subscription companies divide their marketing budget among three platforms: 58% spent on Facebook Ads, 36% on Google Ads, and 6.8% on TikTok. We can also further separate advertising efforts by campaign type:
Our data makes it clear that businesses need to diversify their marketing efforts across all major platforms to reach customers wherever they are online.
Brands in this market must be able to effectively market their products to consumers who are often highly discerning and selective about their healthcare purchases. Measuring and improving your CPC is crucial to reach the right people and convert them into customers properly.
CPC (cost-per-click) is one of the essential healthcare subscriptions eCommerce KPI benchmarks to maximize your marketing efforts. Your CPC is the average cost of every click on your paid ads. However, once a visitor clicks, you need to be ready to convert them into paying customers. Otherwise, you may spend more on the campaign than it generates.
Below, you can see how the median CPC for Facebook Ads in this market is $3.45. If you are spending significantly more or less than this benchmark, you might not be making the most of your advertising budget.