The global health market is growing year on year and experts believe it will bring in over $530 billion by 2025.
Considering how large the growth is expected to be, it is clear that competition will also increase over the next five years. Because of this, marketing medical devices will become more challenging.
It is not all bad news, though. If you take the time to brush up on some marketing skills, there is no reason why your company can’t compete for part of the market share.
Here are some tips on how to market a medical device company successfully.
1. SEO is Key
If you want your company website to receive organic traffic, you need to be willing to invest in SEO. SEO is a process that involves tweaking elements of your website so that the search engines are clear about what it is about, and then building authoritative backlinks to your site.
You’ll want to spend some time determining the keywords that you want to rank for, and ensure these are not only in your website copy but your meta descriptions as well.
The problem is, there is more to search engine optimization than stuffing popular keywords into web content. It is a complicated process, which must factor in various other aspects such as:
- Optimizing the structured data
- Optimizing audio and video content (descriptions, alt texts, vocal keyword integration for voice search)
- Monitoring the quality of backlinks
- Guiding your content creators regarding how to build over previously successful content (skyscraper content creation)
- Visual marketing optimization with infographics
- Creation of unique keyword phrases to build brand and product association
- Interlinking various pages of the website with each other, by adding hyperlinks to primary and secondary keywords/keyword phrases
- Entity Salience: An advanced technique that relies more on the theme of the keywords in content, rather than the keywords themselves
If you don’t have the time or the knowledge to do all this by yourself – and it is a big task – it is worth hiring an SEO professional to do the job for you.
2. Keep Your Knowledge Up to Date
Consumers and businesses are savvier these days, and most don’t want to buy from someone who doesn’t know what they are talking about. Because of this, it is vital to keep your knowledge up to date on everything from wire EDM manufacturing to the latest laser-welding practices.
Share your knowledge via social media, on your company blog, and at conferences as well. Not only will this help to establish you as an authority in your niche, but it will also help you to keep a step ahead of the competition.
Look at what your rivals are doing and what new inventions are coming out. All of this will help you with your own company’s products.
Updated knowledge also paves the way for updated products. When you are in perfect sync with everything that is going on in the medical devices industry, you will also know which of your products to market at any given time, and how to go about it.
This should also help with stocking or manufacturing the most in-demand products at the time, which in turn should make marketing them so much easier.
3. Focus on Your Target Audience
In order for any marketing campaign to be successful, you need to know who your target audience is.
Create a conceptual picture of who your ideal customer is, and think about things like their age, demographic, behavior patterns, and objectives. Think about the difficulties that your target customer may be facing and come up with ways to overcome these as part of your marketing campaigns.
For example, you may want to have different campaigns for clinicians, hospital administrators, and private practitioners. Think about what each of these people needs and how you can provide it.
Focusing solely on potential clients of a company that manufactures/retails medical instruments, we will find that they are almost always going to be professionals.
Business owners, business representatives, heads of medical departments, doctors, researchers, benefactors, etc. are not exactly the type of clients we generally see in the B2C segment. You will market to highly qualified professionals and important executives with decision-making powers.
Therefore, any marketing campaign that is targeting them also needs to be planned with formality, accuracy, and professionalism in mind. This holds true for B2B sectors in general, but given how technical the medical profession is, any content you create has to be medically sound.
4. Nurture Your Leads
It is important to nurture the leads that you create through your marketing campaigns. Maybe you could encourage people to sign up for your company’s newsletter or follow you on social media.
Whatever you do, make sure to provide them with first-hand information about your new devices and blog posts. Don’t go overboard on the emails but do ensure that they don’t forget who you are. After all, retaining customers is a lot easier than finding new ones.
5. Be Careful with Compliance Laws: Use them to Your Advantage
Medical devices are supposed to help patients, but they can also be harmful to them if the set compliance standards are not maintained during the product’s manufacturing. As a result, the compliance rules for all medical devices are pretty strict.
It is of the utmost importance as a manufacturer to ensure that the specified standards are maintained during the production process. Retailers should only be selling legally compliant medical devices, so work only with reputed manufacturers to avoid possible legal complications.
After ensuring that everything you are about to market is safe, compliant, and of a high standard, it is time to use that to your advantage in marketing.
We are dealing with professionals from/related to the medical field here, so the potential clients are well aware of the applicable compliance standards as well. Since your target clients are looking to find manufacturers/sellers with approved medical devices, it is one of the best angles to use while marketing to them.
Even if maintaining those standards is mandatory by law, it is imperative from a marketer’s point of view to highlight every standard that the devices are compliant with. Not only does this make it easier for your potential clients to find you(SEO), but it also establishes the brand as a respectable establishment within the sector.
6. Spearhead the Campaign with a Flagship Medical Device Product
Every medical device company needs a flagship product to launch itself into the scene while marketing, even if they have been in the industry for a long time.
It is not the only way to market a brand of course, but it is a highly effective strategy. The idea is to spearhead the marketing campaign by highlighting the best and/or the most successful piece of medical device or equipment you have. Sometimes, successful products from the past can also be used to remind potential clients about what the company is capable of.
Marketing a medical device company doesn’t have to be difficult, as long as you know how to approach the project. It is not that different from marketing other products in the B2B segment, but it is the subtle differences that decide whether the campaign will succeed or not.
Now that we have discussed some of the most important details which are specific to the segment, preparing and launching a successful marketing campaign should not prove to be too difficult.
Disclaimer. The views and opinions expressed here are those of the authors. They do not purport to reflect the opinions or views of IdeasPlusBusiness.com.
Any content provided by our bloggers or authors is of their opinion and is not intended to malign any organization, company, individual, or anyone or anything.
For questions and inquiries on the blog, please send an email to the Editor at ideasplusbusiness[at]gmail[dot]com. You can also follow IdeasPlusBusiness.com on Twitter here and like our page on Facebook here.
This website contains affiliate links to some products and services. We may receive a commission for purchases made through these links at no extra cost to you.
The Ideas Plus Business Editorial team is responsible for this post. For collaborations and partnership requests, kindly send an email to the Editorial Team at ideasplusbusiness[at]gmail[dot]com for the terms and conditions. You can also follow IdeasPlusBusiness.com on Twitter here and like our page on Facebook here.