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Medtech Marketing KPIs & Metrics: 2024 Report

SEO Blog
Medtech Marketing Kpis

In this report, we share the most important marketing KPIs and metrics for medtech businesses to track, as well as benchmarks for each. Our data was drawn from 34 medtech clients we’ve worked with from between 2017 and 2024. Of these, 11 were B2C medtech companies, and the remaining 23 were B2B. The campaigns we executed for each were focused primarily on thought leadership & SEO, but most included use of additional channels such as email, LinkedIn, and PPC.

Our results are presented in the table below:

Medtech Marketing Benchmarks: 2024 Report

Customer/Patient Acquisition Cost (CAC or PAC)$921
LTV to CAC Ratio4:1
Total # of Qualified Leads (MQLs)21-34/month for midsize B2B companies
ROAS1.10 (PPC)
Total Monthly Website Visitors10% growth month-over-month, with at least 70% of total traffic coming from organic channels
Conversion Rate1.4%
# of First Page Keywords20% growth year-over-year in total first-page keywords

We now explain each metric in greater detail.


3-Year Average ROI1,183%

ROI provides the highest level overview of a marketing campaign, and it may be calculated using the following equation:


Our data indicates that medtech companies achieve a relatively high ROI compared with other industries, particularly when prioritizing organic channels such as SEO. This is particularly apparent in consumer medtech, where trust plays an outsized role in user acquisition, because of the authority that high Google rankings confer.

While we prefer to calculate ROI as a 3-year rolling average as it accounts for the varying startup costs of differing channels and better controls for seasonal fluctuations, doing so makes diagnosing campaign issues more difficult. For those purposes we turn to the other metrics below.

Customer/Patient Acquisition Cost

Average Customer/Patient Acquisition Cost$921

Much like ROI, Customer Acquisition Cost (or Patient Acquisition Cost for some medtech companies) serves as a high-level of the health of a marketing campaign. It can be calculated using the following formula:


While CAC does include the cost of sales—thereby somewhat accounting for lead quality—it does not factor in the long-term value of each lead. To do so, medtech companies must also examine their LTVs and their LTV to CAC ratio (see below), but CAC remains useful because it can be calculated much more easily than overall ROI and allows for direct comparison of different marketing channels.

LTV to CAC Ratio

LTV to CAC Ratio
LTV to CAC Ratio4:1

The customer lifetime value (LTV) to CAC ratio is an oft-cited metric for technology companies. Simply put, it states that on average, the value that each customer brings in should be 4 times higher than what was spent to acquire them.

This ratio doesn’t account for operating costs and a ratio that’s too low—1.5:1 or even 2:1—indicates that your company is overspending on inefficient customer acquisition and likely losing money on each customer. Conversely, a ratio that’s too high may not in and of itself be damaging to a medtech company’s bottom line, but indicates that long-term growth is being sacrificed in favor of short-term profits.

Total # of Qualified Leads (MQLs)

Total # of Qualified Leads
Total # of New MQLs21-34/month for midsize B2B companies

The previous 3 metrics—ROI, CAC, and LTV to CAC ratio—all require input from multiple teams within a medtech company. Because of this, not every medtech company is capable of keeping their high-level metrics up to date at all times, and marketing teams should look to more zoomed in metrics when deciding how to make campaign adjustments month-to-month.

Total # of qualified leads is, as its name suggests, simply a measurement of how many leads are brought in each month. This metric is most useful for B2B companies—B2C medtech should instead look to total new users—and will depend heavily on each individual company’s size. We’ve chosen here to provide a benchmark for midsize B2B companies, as those companies make up the majority of our dataset.


Total # of Qualified Leads
ROAS1.10 (PPC)

Return on Advertising Spend (ROAS) refers to how much revenue is generated by each dollar you spend on advertising. It’s calculated by the following formula:


This metric is mostly used for digital paid channels such as PPC and paid social media. Here, we’ve provided our benchmark for PPC as it is the paid channel we have the most experience managing for medtech clients.

Total Monthly Website Visitors

Total Monthly Website Visitors
Unique Monthly Website Visitors10% growth month-over-month, with at least 70% of total traffic coming from organic channels

Total Website Visitors is a straightforward metric, and consistent growth is the sign of a healthy medtech marketing campaign. Website visitors come from three main sources:

  • Direct traffic: visitors who clicked on a direct link to your website
  • Paid traffic: visitors who clicked on an ad
  • Organic traffic: visitors who found your website on a search engine (most likely Google) and clicked through to your page

Keep in mind that seasonality will cause your growth rate to vary. Comparing your year-over-year traffic trends will help your team correct for any such variance.

Conversion Rate

Conversion Rate
Visitor to Lead Conversion Rate1.4%

Visitor to Lead Conversion Rate (often referred to simply as conversion rate) refers to the percentage of visitors who later become leads, and is calculated with the following equation:


Low conversion rates are a sign that your website doesn’t resonate with visitors, and are the result of poor targeting or insufficient conversion optimization. Offering free demos when appropriate, or gating select content behind registration walls will also serve to increase the number of visitors who convert.

# of First Page Keywords

Conversion Rate
# of First Page Keywords on Google20% growth year-over-year in total first-page keywords

The first page of Google accounts for nearly all clickthroughs, making the number of keywords you get to the first page of Google is an important measure of how successful your medtech company’s SEO program is. How quickly you can achieve new rankings will depend on your existing domain rating, but by publishing data pieces and other expert content, you can quickly acquire backlinks to improve your website’s rankings.

When analyzing first page keywords to gauge organic marketing, note that only unbranded keywords should be considered. Branded keywords indicate that the searcher has already found out about your company or product through another channel.

Requesting a Copy of This Report

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Evan Bailyn

Evan Bailyn is a best-selling author and award-winning speaker on the subjects of SEO and thought leadership. Contact Evan here.