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8 min reading time
As originally asked by Eddie Chen.
I’ve just begun at a Medical Device startup that is shifting its focus from the acute care hospital market to the nursing home and home consumer market. I was hoping to get some advice concerning the marketing, sales and distribution channels anyone has implemented or seen. Any and all help is greatly appreciated!
Thanks in advance,
In the past, I revamped instructions for patients on a self-administered product for chemo and/or radiology patients.
Original instructions were comprised of two long sentences and were difficult to locate on the package insert.
I changed them to a single sheet of pictograms which were issued by the oncology nurses along with the prescription.
This offered peace of mind for both the patients and the nurses; it was very clearly written and steps could be followed at any time of the day or night without having to call anyone for further instruction.
Gunjan, yes it’s the LifeBed System however our next generation version adds wireless connectivity features and comes in at quite a discount to our original product.
Marc, I agree with you that subacute care facilities should be targeted and they are definitely included in our target market. New technologies such as ours require educating the public as to our value proposition which, as you noted, will take tons of capital. Although, given the rise of social media, I may be naively searching for that “magic bullet” that is able to create interest and groundswell without costing an arm and a leg. I’m also looking into strategic partnerships with companies that already have a relationship with our target audience. There are a growing number of businesses in the telehealth/medicine industry.
Side Note: – Getting the right distribution and retail channels to sign up is easier said than done, but can provide good data and revenue for a small firm looking to enter new markets.
Todd Staples, MBA
TV can be a little better at targeting audiences, though it gets in the same trouble at times since apparently ALOT of people who watch tv shows from their childhood on occasion are now afflicted with diabetus and need an alternate place to buy our testing supplies. And if I see one more “pre-lubricated catheter” commercial I might lose it. 🙂
The beauty of digital media and SEM, SEO and others is, it truly is a tailored solution. I never see advertisements in my digital web experience for horse stable rentals, or RV repair services, thankfully, because I don’t own horse or an RV, and my web search history and computer habits reflect this, so I am off the radar screen for those marketing initiatives. When I do see banner ads, or search for things that interest me, I am generally receiving advertising that is relevant to my interests, and if the marketing is done well, often times I am steered into a direction that ends with me buying something without even knowing that I needed that item. This is really what marketing is all about in my mind – expanding markets, growing a base, and reaching customers who didn’t even realize there was a simple solution to their pain (whatever pain that is).
TV, Radio, and other forms have some viability, but the sheer volume of the existing advertisers indicates to me that the NUMBER of advertisers is declining making more air time for the ones left behind to further drive their message into my head. I agree with Tom though, it really is all about your product, and your target audience. In alot of cases it is all about the numbers.
I would love to do innovative med-tech and ship to China. But how do I get paid? I think this is the real creative problem to solve.
Eddie: regarding a quick call for advice, please provide me contact information and I will try to reach out to you. Right now we are very busy launching our product and raising a Series D Round, but I should be able to spare a little time.
The difficulty is getting people to download and keep your app! For this the App needs to be practical and engaging. I suppose the practicality depends on your product and the engagement piece could include gamification.
Marked as spam