Must-Have Medical Device Marketing Strategies for 2023
It is no mistake that top-performing Medtech companies have begun swapping their traditional, in-person sales approach for omnichannel models. The shift to using a multi-pronged marketing approach has been driven by the need to better meet the rapidly evolving preferences of physicians, hospital procurement departments, and health system administrators.
Omnichannel Marketing Strategies Pave The Way To Medtech Success
A 2021 survey conducted by McKinsey & Company revealed that 81 percent of physicians and 89 percent of procurement professionals prefer to use more than one channel to engage with Medtech companies. These figures confirm the growing demand from customers of the medical device industry for personalized engagement and stronger relationships with manufacturers.
But while the trends are clear, most Medtech companies have ways to go before successfully transitioning to the new omnichannel engagement model and providing a seamless experience across all channels - digital, remote, and in-person. To unlock growth opportunities, boost your sales, and create a sustained competitive advantage, you must develop a comprehensive medical device marketing plan composed of essential omnichannel-focused marketing strategies.
Top Medical Device Marketing Strategies To Implement In 2023
Create Brand Personas
One of the most significant challenges medical device companies face is to appeal to a broad range of customer types in the medical and healthcare field. For example, surgeons, physicians, administrators, and purchasing professionals have their unique set of priorities that do not necessarily overlap. The best way to overcome this difficulty is by knowing your target audience and understanding their needs.
Buyer Persona: A Semi-Fictional Representation of Your Ideal Customer
Start by developing different brand personas for each buyer type. Know who they are, what motivates them, and their most significant pain points that your device can help address. Identifying brand personas enables you to understand your prospects and laser-focus your messaging, ensuring it is on point and resonates with your audience to drive the desired action.
Develop A Compelling Value Proposition
Once you have created your brand personas, the next step is understanding how your medical device can help solve their problems. Your unique value proposition should answer how your device solves an unmet need or does it better than your competition. Make sure your value proposition solves the unmet physical need of your customers while playing to the emotional side of their needs as well.
Create An Effective Content Strategy
Now that you've created your brand personas and developed unique value propositions for each, it's time to create your content strategy. Again, knowing your personas' unique characteristics will help you determine the channels you want to engage with them and identify the content types to include in your marketing strategy.
Remember, depending on the buyers' journey, some content formats may be more appropriate than others. For instance, blog articles do well at getting leads to your website, helping you build your authority, and demonstrating your expertise. Likewise, social media platforms like LinkedIn enable you to start a conversation with your prospects by asking about their issues related to your medical innovation.
You can also use LinkedIn to connect with your customers, share content, and position yourself as an expert in your market. The beauty of an omnichannel-focused content marketing strategy is that you can leverage the unique benefits of the various channels (social media, email, blogs, video marketing, webinars, etc.) and maximize ROI on your marketing spend.
Align Your Sales And Marketing Activities
As mentioned above, Medtech companies are moving away from the traditional, in-person sales approach and shifting to an omnichannel model. However, the transition is often challenging, considering the complex nature of medical device products. So instead of eliminating the role sales reps play in the process, it's wiser to align marketing and sales activities and bring them under one roof to benefit one another.
Key Stats on Marketing & Sales Misalignment
One way to accomplish this is by using different marketing channels strategically depending on the sales cycle and buyer journey. For instance, it makes sense to rely heavier on digital marketing channels during the early stages of the buyer journey and involve sales reps during the critical stages - when prospects are closer to making a decision. You can accomplish this alignment by synchronizing your sales and marketing teams and ensuring the teams work together instead of in a silo. Information should flow back and forth between sales and marketing, and the objective of getting in alignment should be clearly understood.
When marketing and sales align, your sales process becomes more efficient, where prospects and leads move seamlessly through the sales funnel.
Now that you know the most important medical device marketing strategies, implement the recommended steps to set yourself up for success.
Create your brand personas
Develop your value proposition
Create an effective content marketing strategy
Align your sales and marketing activities
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