4 New Fundamentals for Medical Device Marketers
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Transcript of 4 New Fundamentals for Medical Device Marketers
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Weve said it time and time again. Times are changing in the medical device industry, and companies can either choose to change with them or be left behind.
What are medical device companies to do?Here are four new fundamentals that will be critical for the future of medical device marketing.
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Four New Fundamentals31234Find the Human StoryLadder to ActionBuild a Measurement-Friendly CultureShape the Long Journey
4Find the Human Story1
Find the Human StoryTodays patient does not care about clever engineering or product developmentInstead they crave social proof when they are unsure how to behave, they look to others for cues
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Concept in Practice:
Tell authentic and compelling stories about the positive impact your technology has had on patients. Put your testimonials front and center on your website.61Video Testimonials
WINHow to the Internal BattleEducate upper management on the value of story telling Working closely with legal to allow for flexible film making Scripted testimonials will not support social proof
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Skills, Technology, Process8Work with expert filmmakers and storytellers Dont waste internal resources trying to build this expertise in-house
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9Ladder to Action2
Ladder to ActionDont assume your patients will find your call-to-action (CTA) on their ownIdentifying your CTAs in order of value to the business, and then lead prospects up the ladder to the CTAConsider the value exchange of each CTA and let your prospect understand what they are getting in return10
Content
Value Exchange
Call to ActionInformation ArchitectureDesign
12345LeadCapture6
Concept in Practice:
Use your website to communicate the clinical benefits of your product, but make it clear that only a physician can determine need. Then create a powerful CTA linking to a locator you provide.112Physician Locator
FIND A PHYSICIAN NEAR YOU
WINHow to the Internal BattleDont confuse activity with resultsUnderstand what the meaningful CTAs are for your audience By the way, its not your web trafficClearly communicate and reach alignment with management122
Skills, Technology, Process13Make sure your marketing department understands persuasion theory.
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Great Book!
14Build a Measurement-Friendly Culture3
Concept in Practice:
Imagine a physician locator that tracks how many calls are placed, whether or not they result in an actual appointment, and how many eventually undergo scheduled procedures. 153DTC Tracking
This Technology Exists!
WINHow to the Internal BattleBuild a marketing culture that supports trial and errorDo not penalize people for not getting it right the first timeEmbrace the try-measure-respond approach
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WINHow to the Internal BattleLegal and regulatory approval times need to be shortened to allow to test and iterate quickly Include these teams early in project discussions so they feel vested and part of the solution173
Skills, Technology, Process18Map corresponding metrics, tools and technology needed to achieve business goalsIdentify what you want to know and then spend the time to figure out how you can gather that critical data
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19Shape the Long Journey4
Shape The Long JourneyProspects are typically only at the beginning of a long, long journeyDuring this time, the benefits of the procedure need to be consistently reinforcedPatients will need to ask questions and gain confidence before they commit204
Concept in Practice:214CRM Email Program
Create a communication stream that touches prospects and shapes their thinking during the decision making period. Build rapport and trust, and ramp up the selling in later phases once your audience already likes you!
WINHow to the Internal BattleThe marketing team, not the information technology team, needs to lead the CRM initiativesConsider an ambassador between marketing and IT. Someone with technical experience who can hold their own at the negotiations table in the face of objections224
Skills, Technology, Process23Talk to patients directly, or do a listening exercise online to see what patients are talking aboutThen, create a multidimensional customer persona and create your CRM campaign based on the appropriate cadence
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ConclusionMed tech companies are facing a new business landscape. Given the new regulations, market constraints and empowered consumers, methods of the past likely wont work in the future. Now more than ever, marketing can be in the drivers seat when it comes to creating physician and patient demand if you integrate these four best practices into your marketing strategy.24
25ABOUT GREY MATTER MARKETING
Grey Matter Marketing is a full-service, award-winning marketing agency working exclusively with medical technology companies. We provide the marketing architecture to build strong connections with providers and patients to drive adoption of innovative technology that improves lives. We have a proven track record in developing both traditional and digital plans that create compelling marketing experiences and drive business results. Our strength is finding the important truth in any communication effort, and translating that truth into something your customer understands, and more importantly, feels. Armed with this knowledge and insight, we roll up our sleeves and do what we do best: work hard, think strategically and deliver.
www.greymattermarketing.com