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10 Proven Medical Device Marketing Strategies

The right strategies for marketing your medical device is the one which <br><br>1. Helps you to aware your target audience about your product<br><br>2. Engage them and urge them to make buying decisions<br><br>Due to the rising prevalence of chronic disease and the increasing geriatric population, the US medical device manufacturer market size is anticipated to grow at the compound annual growth rate of 5.0%.<br><br>Medical device market size value in the year 2020 was 186.5 billion which has been forecasted to reach up to a value of 262.4 billion. This has opened doors of ample lucrative opportunities for existing

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10 Proven Medical Device Marketing Strategies

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  1. 10 Proven Medical Device Marketing Strategies The right strategies for marketing your medical device is the one which 1. Helps you to aware your target audience about your product 2. Engage them and urge them to make buying decisions Due to the rising prevalence of chronic disease and the increasing geriatric population, the US medical device manufacturer market size is anticipated to grow at the compound annual growth rate of 5.0%. Medical device market size value in the year 2020 was 186.5 billion which has been forecasted to reach up to a value of 262.4 billion. This has opened doors of ample lucrative opportunities for existing as well as upcoming medical device manufacturers. Along with the ocean of opportunities, there is cutthroat competition as well, as there are more than 6500 medical device companies in the US To excel in this highly competitive market and make the best of these opportunities, we are going to discuss some proven medical device marketing strategies for your medical device manufacturing company.

  2. Top 10 Proven Medical Device Marketing Strategies 1) Create a Buyer Persona Creating a buyer persona is the cornerstone of an effective medical device marketing strategy, without which it would be like searching for something in the dark. You should be well informed and clear about whom you will be selling to; whether it is a doctor or a patient, whether it is a hospital or private practice, what problem you are going to solve, etc. This helps you curate more impactful and personalized content that has better chances of turning prospects into customers. 2) Understand the problem Knowing about the needs and pain points of your buyers is equally important as knowing them. Unless and until you are not clear about their problems you will not be able to convince them to buy your products. 3) Analyze competitors The other important medical device marketing strategy is to research market trends. Analyze how your competitors are positioning their products in the market, and which strategy they are using to attract prospects and market their products.

  3. You should also check how your competitors are increasing their website traffic and conversion rates. Along with focusing on their success, focus on their failure as well. Check how they are curating their marketing campaign and how much they get benefited from it and how much they lose. 4) Develop your value proposition To stand out in a highly dense and competitive market your product should add some value to your prospect’s life. Determine all the benefits of your product and show them how it’s going to help them. 5) Create compelling content Content is king, it’s the very first part of any marketing funnel. In the first three steps whatever information you have gathered about your products and the customer needs and their pain points, now it’s time to articulate them in an engaging and informative way. Your content speaks on behalf of you, and along with creating awareness about your brand, it shows your expertise. That’s why create content that increases the chance of a conversion. 6) Create a content strategy

  4. Along with writing compelling content, it’s vital to know what kind of content you should write and what kind of content will work with various platforms. For example, a blog post is the best way to drive traffic to your website and attract more customers, and also it shows your expertise. In the same way, long form content works for Linkedin, whereas infographics and reels perform better on instagram rather than long form content, and twitter supports only shortest form of content. 7) Connect on social media If you are not leveraging social media, you are missing many opportunities. Connecting on social media has become a mandatory part of marketing strategies these days. ● 70% of primary care physicians and oncologists use social media to either explore or contribute to health information. ● One-third of the surveyed physicians, registered nurses, and physician assistants claimed they would like to click on an ad if that interests them. Being present on social media helps you to get connected to hospitals and administrators and also helps you to build a strong brand reputation. Connecting on social media helps you to clear the doubts of your clients and potential clients and helps you to build trust in them. 8) Create a compelling case study

  5. Case Study gives credibility to your product. 9 out of 10 customers read reviews before they make buying decisions. In medical technology too, use case studies to build trust in your prospects. By showing your prospects how your device or solution has helped your customers to reduce operational costs, increase the quality of care, and has impacted other outcomes. 9) Build trust through consistency Building trust with your audience and prospects is paramount for an effective medical device marketing strategy. And one of the easiest ways to build trust is to be consistent with your brand reputation. That means all your marketing properties like offline, events, and online should have a consistent voice, look, and feel. Maintaining consistency in marketing material helps your customer to know what they are selling and let them know that you know them well. 10) Present at trade shows The trade show is a gateway to so many amazing opportunities, as it allows you to network with so many business leaders and decision-makers. If you have any one piece of your medical device in working condition, then exhibit it in the trade show. When key decision-makers come and see the device in Person it increases your chances of conversion.

  6. Why Marketing Medical Devices to Physicians and Hospitals is essential Though final decision-making is done by hospitals, physicians’ opinion matters a lot in selecting the right medical equipment. And that’s why it is quite essential to market your medical device to both hospitals and physicians. Your go-to-marketing strategy should involve effective communication and you should be able toco bey what problems of them you are going to solve. Your medical device should have some advanced features that set you apart from your competitors. Hospitals and physicians always look for products that help them to provide improved patient care. That’s why you should be clear with the features of your product and should know how they make your product better than your competitors. Marketing Challenges to Hospitals and Doctors No matter how useful your product is for medical professionals, making them buy decisions is hard and takes time. Marketing to hospitals and doctors is quite challenging, let’s see why:

  7. 1) Because of hectic work schedules, doctors don’t find time to talk to device manufacturers. And that’s why salespeople and marketing people struggle to reach them which leads to a long sales cycle. 2) In this highly competitive and dense market, standing apart is very difficult. There would be many products like yours and solutions like you have suggested. In such cases driving the attention of key decision-makers to your products will be tough. 3) Before making any buying decision doctors check the device thoroughly and go through every minute detail. But it’s difficult to explain so concisely and engagingly when your product is complex. What are the mistakes to avoid as a medical device marketer 1) Doing marketing in the same old way Many medical device manufacturers are scared of taking the less traveled road when it comes to marketing their products. The market in the same old way such as a brochure with a product picture or stock image, this tactic also works but doesn’t drive your extraordinary results. The medical device go-to marketing strategy to achieve extraordinary results staying updated with the current marketing trends and should not hesitate to take risks with new marketing strategies.

  8. 2) Not keeping up with new technology Many medical manufacturers don’t understand the importance of online presence. Either they don’t know how to leverage the new technologies, or they have misconceptions about the presence of their audience on social media. But whatever may be the case, it’s absolutely their loss, as more patients are using the internet to search about many health-related issues. Managing an online presence is an important medical device go-to marketing strategy as it helps you to stay connected with your audience and clear their doubts. 3) Not enough focus on value Take interest in your customers to make them interested in you. And for this, tell them how your product is going to solve their problem, and how it will be beneficial to them. When you talk about something that interests them, they will take interest in you. That’s why the medical device go-to marketing strategy is instead of talking about features, talk about how much difference your product is going to make in your customer’s life. 4) Minimal focus on corporate brand In this highly competitive market to accelerate your sales, having a solid brand is a must. Having strong brand awareness makes your product

  9. marketing easier as people are already aware of what your company offers depending upon the brand name behind it. 5) Impersonal marketing Professionalism with a bit of personalization does wonders even with the marketing of medical devices and it is an important medical device go-to marketing strategy. But some marketers in order to avoid looking unprofessional, make marketing campaigns very formal which lacks the connection. So, it’s always better to make personalized marketing materials to increase conversions. Conclusion Thus, to sustain and excel at a competitive pace, following strong marketing strategies is crucial. An effective marketing strategy helps you in creating and maintain demand, relevance, reputation, and competition. In order to stand out from the crowd, establish a cutting-edge reputation, and establish a stronger relationship with customers, the marketers to step out of the traditional strategies and should follow the above mentioned marketing strategies.

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