Posted By BroadcastMed on 09/01/2022

5 Proven Strategies for Marketing Your Medical Device

5 Proven Strategies for Marketing Your Medical Device

Having a solid marketing plan is essential for successfully reaching your target HCP audience and eventually selling your medical device. To succeed in today’s market and capture the attention of key decision makers and other medical professionals, you need to have a comprehensive toolbox of strategies.

Below, we outline 5 proven strategies for HCP engagement, which will potentially lead to the sale of your medical device.

5 Ways to Reach your HCP Audience with Medical Device Marketing

There are a variety of ways for engaging healthcare professionals, including:

  1. Defining your audience

  2. Identifying the problem

  3. Building a solid market strategy

  4. Networking

  5. Implementing account based marketing

Define Your Audience

Understanding your audience is one of the most important parts of medical device marketing, but it’s often overlooked by companies looking to get their device on the market as soon as possible.

Conducting market research can help identify who you want to target, whether it’s physicians, hospitals, or patients – in addition to the pain points you’re trying to solve. With that information, develop buyer personas for your target audience.

Next, identify any secondary audiences that may have an influence on your main target audience. For example, you may have identified physicians as your primary target audience, but are there any secondary audiences – such as nurse practitioners or hospital administrators – that may have an influence on the buying process? Create additional personas based on any secondary target audiences you may have identified.

Gain a Clear Grasp of the Problem

Now that you’ve identified your target audience(s), it’s time to understand the challenges they’re facing and clearly explain how your device can address those needs.

For example, an HCP may use a medical device to treat a particular ailment, but patients may frequently experience complications – leading to non-compliance and possible malpractice suits – both of which could be considered as pain points for your target customer.

If your device can alleviate these pain points, your marketing should focus on educating potential customers on the assets that alleviate those risks.

Build a Solid Market Strategy

Purchasing a medical device isn’t an easy task. Before choosing the right fit, an HCP is going to spend a considerable amount of time conducting research and considering their options. When developing your market strategy, you should keep the buyer’s journey in mind, which includes the following stages:

Awareness Stage

During the awareness stage, potential buyers realize they have an issue that needs to be resolved. They may become aware of your device through internet searches or advertisements.

To cater to your audience during this stage, it’s important to serve content that’s informative without being brash – this will help build trust and authority.

Consideration Stage

During this stage, your target audience now understands the problem they are facing and becomes aware of devices that may alleviate their pain points. They’ll be looking for clinical results and information that helps them understand the effectiveness of each potential product.

In this stage, it’s important to build trust, which can be accomplished by providing information that solves the problems of your ideal customer. This may be in the form of organizing free webinars, downloadable materials, email marketing, and/or informative blogs.

Decision Stage

During this stage, the buyer has completed their research and is now ready to decide on which is the best product for their needs. ROI analysis, product comparisons, device guides can help with this decision. Testimonials and case studies can add legitimacy and back your product’s claim with real-world results.

Networking

Your networking should not only be with potential customers, but also with stakeholders such as hospital administrators, as they often play a key role in purchasing decisions. Connect with them on social media, online forums they regularly visit, or by organizing free training programs that can benefit their organization.

Use Account Based Marketing

Account based marketing (ABM) is a marketing methodology that helps identify, understand, and engage accounts, creating awareness or interest among stakeholders of a target account. In other words, AMB involves marketing to all of the decision makers to build and nurture customer relationships.

Steps in the ABM process include:

  • Identify target accounts or businesses you want to market your medical device to

  • Conduct research on the identified accounts to outline buyer personas and key players

  • Formulate a hypothesis based on what marketing tactics you’ve observed will be most effective – and then implement.

  • Document the impact and effect of the used tactics.

  • Identify which data-based trends work best.

  • Align your sales and marketing departments for an effortless lead handoff.

  • Expand the model to similar accounts, making adjustments as needed.

Is Your Device Ready For Market?

Successfully launching a medical device to market can be a daunting task – but it doesn’t have to be. Working with a partner well-versed in medical device marketing can help you streamline your processes, freeing up valuable time for other important tasks.

Ready to learn more? Check out our resources page.



The original version of this page was published at:  https://www.broadcastmed.com/8834/news/5-proven-strategies-for-marketing-your-medical-device