Marketing for a medical device company can be a complex and challenging task due to the stringent regulatory requirements of the healthcare industry. However, with the right approach, it is possible to create effective marketing strategies for medical device companies. Over the last year, we have seen a change towards more brave marketing campaigns and even more 'out there' colourful branding in the medical device industry. We are shifting away from ordinary campaigns and integrating more B2C trends with consultancies, manufacturers, and similar medtech businesses. Still, the question remains: how do you stand out and attract the right type of audience for your business? In this article, we will discuss some tips and share some examples we found interesting and worth keeping an eye on in the realm of medical device marketing.
But first, if you are completely new to the world of medical device marketing, here are some steps to help you get started:
Identify your target audience: Before creating a marketing plan, you need to determine who your target customers are. For medical devices, this could include healthcare professionals, hospitals, clinics, and patients.
Understand the regulatory landscape: Medical devices are subject to strict regulations from government agencies such as the FDA or EMA for Europe. Therefore, it's crucial to understand the regulations that govern the industry to ensure compliance with all requirements.
Develop a strong brand: Building a strong brand is essential for medical device companies. Your brand should reflect your company's values, mission, and goals. Develop a consistent message across all marketing channels.
Leverage digital marketing: In today's digital age, it's essential to have a strong online presence. Use social media, email marketing, and website optimisation to promote your products and services.
Attend trade shows: Medical device trade shows are an excellent opportunity to showcase your products, explain your services, and connect with potential customers. Attend these events regularly and network with other industry professionals.
Educate your customers: Medical devices can be complex, and customers may need help understanding how to use them. Offer training and support to your customers to ensure they are using your products correctly. If you provide service, create a supportive community to educate your customers about what you do and how you can help.
Develop case studies and testimonials. Share success stories from customers who have used your products or services. This can help build credibility and trust with potential customers.
Remember, marketing for medical device companies requires a delicate balance between promoting your products and staying compliant with regulations. With a strong strategy and a focus on customer education and support, you can successfully market your medical devices.
Now, let’s have a look at some trends for 2024 and how medical device companies can take advantage of them and incorporate them into their marketing campaigns.
Very often, we find trends that are very much focused on the B2C rather than the B2B model. So, in this piece, we are navigating the complex world of how to market your service and product to other businesses. This is great insight for someone who provides consulting or design services and does not directly make the product themselves. Moreover, the trends can be applied and interpreted to suit your marketing needs.
1. One of the main priorities will be using AI in marketing, which could help marketers create more engaging content and drive traffic to their website. One of the recent examples was a start-up called ‘Tomorrow Sleep’ that used AI-powered tools to generate and research content that increased their website traffic.
2. Authenticity will be valued more in marketing techniques going forward. According to Brandwatch's latest trend report, 80% of brands think they deliver authentic content, but only 37% of consumers agree. To close this gap, marketers need to showcase their values across every aspect of their brand and implement authentic marketing with human-driven efforts into their content. For example, generate employee-driven content. Some brands, such as Oatly and Tala, are already doing so.
3. Customised advertising will become much more significant. Again, it’s all about your customer and their needs. We will be seeing more tailored marketing messages and personalised content. Using dynamic ad campaigns could be a great solution, as they automatically adjust content based on real-time data. For example, showing different products or services depending on the user's recent interactions with the website or app.
4. Developing interesting content will be essential to drawing in customers. This could be enhanced by using AI and various trending platforms and tools. Find and create content that your customers see value in and that also represents your brand values. Don’t try to do a hard sell, but engage and educate first.
5. Social media will become the main means of searching; this one is hard to apply for the medical device industry, as most of the companies will not use social media as frequently to engage with their customers and rely on website and email campaigns. But this trend can definitely be applied if you have a product and are looking to launch it into a new market.
6. Communities will be crucial in determining the kind of engagement strategies. This trend is applicable to a wide range of businesses and industries, particularly those engaged in product development. It's all about engaging with your users and building small but valuable communities. For example, if you are launching a new medical device to treat a certain health problem, find people who can relate to that problem and offer them a solution or try your product . That way, they can share their experiences with new consumers, and you will have valuable user-generated content. These small solutions can help build a trust-worthy community, whether online or offline, and create powerful campaigns to engage with your customers.
In conclusion, medical device marketing faces challenges in navigating strict healthcare regulations, but embracing bold and creative strategies is key. Looking ahead to 2024, trends such as AI utilisation, authenticity, customised advertising, and community engagement will be crucial to successful campaigns.
The message is clear: for medical device companies, success lies in departing from traditional approaches, integrating innovative strategies, and staying abreast of emerging trends. By striking a balance between creativity and regulatory compliance, these businesses can effectively engage their audience in the dynamic healthcare industry landscape.