3 Marketing strategies that work in 2021
All marketing has seen a shift in focus since the start of the pandemic. Your medical device marketing strategy is no exception. Attending operating theatres and medical clinics has either been completely banned or heavily restricted. Meeting customers face to face is rarely an option now. As a result, medical companies have increased their use of webinars to get their messages across to the right people. Also, virtual conferences became the norm in 2020, and while some surely worked well, others disappointed. It was no substitute for the real thing, but time will tell if they improve their hosting platform and display systems to give sponsors a better customer engagement experience.
So, with the change in our selling environment here are three medical device marketing strategies that work, and can make your company stand out from the crowd, even in pandemic days:
1. Improve your Net Promoter Score (NPS)
Having happy customers, that trust you, your company and your brand is a recipe for success.
This is not a secret. If your business keeps growing every year, then surely you are on the right path. Well possibly, but what if your happy customers are just happy, and not promoters? It means you are working harder for your growth than you have to. NPS is about measuring the likelihood of your customers recommending you to their peers.
PWC did research on this and found that a third of customers would stop buying from a company they love if they have just one bad experience. Think about that, if a third of your customers walked away tomorrow due to a bad experience what would your business look like?
Start surveying your customers, do it online, in focus groups, at the point of product delivery etc. There are many ways to do it but measuring how likely they are on a scale of 0-10 will recommend your services to one of their peers. Hubspot recommends classifying the results in three groups:
- Promoters: Customers who answer the question with 9-10
- Passives: Customers who answer the question with 7-8
- Detractors: Customers who answer the question with 0-6
There is even software you can buy that can mange the surveying for you. Qualtrics is probably one of the best-known companies that specialise in customer feedback.
Steve Griggs wrote an excellent article on NPS in Forbes where he outlines what to seek feedback on and how it helps you grow your business.
So, start tracking your NPS and make all your detractors and passives into promoters of your brand.
Fully connected customers will bring 52% more value to an organisation compared to the customers that are just satisfied.
2. Attract customers with valuable content
It was already difficult to get in front of the right customers before COVID, now for many it is impossible. However, medical products are still being used, every day, all around the world operating theatres are well, operating. This means you must take the face-to-face in-service from the hospital to your website. Looking at this list it is obvious there already is a plethora of how-to medical and surgical videos on the internet. However, you do not control the content of these sites, and you do not manage the messages.
By uploading videos, articles, and illustrations of your products you can do just that. This will ensure your products are showcased without incorrect advice or unfair negative feedback. Include existing customers in the content creation so your message is likely to look more like good advice and less like a marketing spiel.
A great example of a company that has done this well is BMW. They showcase their products using short videos from the inside of the cars while being driven, one video even has discussions with the composer (yes composer) that designed the sound for their electric vehicles.
So, why would you do this? It gives you a chance to be informative and create an emotional connection with your customers.
That last point is important. Fully connected customers will bring 52% more value to an organisation compared to the customers that are just satisfied, this is according to a study published in Harvard Business Review.
So, by creating useful content that your customers value and connect with, be it videos, articles etc. you are likely to retain and attract more customers.
3. Create a great tagline…and stick to it.
What is the first word or sentence anyone thinks in their head after they hear your company name? probably a mix of things and nothing specific. Imagine being in a situation where something meaningful was immediately associated with your brand. Like “I’m Lovin’ It” or “Just Do It”. You know the companies I am talking about. If you live in Australia, you know who the “fresh food people” are. Most Americans will have uttered or thought the sentence “got milk?”.
A good tagline will set you apart from your competition, and done right, has the potential to add value to your business in the long term according to Forbes contributor Vladimir Gendelman. He even goes as far as to argue that it can become the most memorable part of your corporate identity.
Bottom line is, if you do not have a great tagline near your logo image, get one. Make it memorable and make it powerful.
Regardless of any COVID related restrictions placed on your market, these are three strategies available to you now. In many ways they are interlinked, creating content that helps build an emotional connection with your brand and a meaningful tagline your customers can identify with will only improve your NPS.