The rise of digital marketing in Medtech.
As a development phase enthusiast, I was continually surprised about the complexity behind marketing an immature startup. Especially, as the complexities in healthcare go beyond the nature of traditional marketing channels as digital technology takes control.
Our business partner, Imag-Packaging, started its website as their main competitor, Allifeera, constantly shouting at us with the promise of faster, smarter, more efficient digital marketing.
The digital marketing team of Imag-Packaging, who launched their own digital marketing campaign against our newly launched digital marketing campaign, Linsprie started looking into the topic of digital marketing for medical devices.
They concluded that digital marketing to militarily manage and attract doctors (namely people with doctor-ship aspirations) is very fragmented and inconsistent, and all the medical devices brands worldwide prefer the more traditional approach.
What Is Digital Marketing?
Digital marketing includes content creation and marketing. It involves creating the right video content to show the brand to your customer/patient on their preferred platforms, over the web.
Digital marketing will impact your marketing strategy. It helps you to build strong relationships with your consumers
by convincing them that they buy your product. Digital marketing will save you a lot of money by showcasing your product on online search results, and will at the same time draw them to your website.
The introduction to our business partner, Imag-Packaging, in 2011, lead to initial discussions with 5Med Products, a little firm specializing in product management, and our team at Linspire.
Shared insights led to a three-month research project for our firm, Clev8x — a reprogramming and development services company, to further validate what digital marketing will improve our approach and provide strategic recommendations for our MEDPhage team.
The team identified universal actions that will make digital marketing more impactful:
Engaging with patients over social networks
Introduction of more anti-brand names
Promotion of digital content on social networks
Encouraging and tracking emotional and tangible engagement
Importance of the Digital Marketing
Digital marketing comes with some clear benefits for medically managing digital product marketing. It includes “digital partnerships” with data science agencies, sales and marketing expert coaches, and affiliate programs.
According to research by Google on digital marketing, only about 20% of doctors visit a website to make a purchase decision.
That means that 70% or more of doctors decide on the web through content or search results they find in militarily managing digital marketing.
What Does Digital Marketing Impact on Revenue?
If you compare your revenue with that of other militarily managing digital marketing companies, digital marketing makes up 8% of your revenue, not including the rent and other costs related to marketing to a large population.
Successful online marketing companies tend to invest 40-60% of their business into mobile and digital marketing.
While others only spend around 35-40% and expect to reach 25% profit.
By convincing a large number of patients, including people with doctor-ship aspirations, to join your online marketing campaign, you can reach a proportion of patients like Digital Marketing company patients who are likely to make purchases within a day or two.
The sales cycle can also improve — because health-related interactions with your audience are easier and more attractive — if you are marketing to a larger user base.
Your medical device brand will not be as many products. You should not try to outdo your competitor, as they might create inefficiencies and fail in your final production.
Below are three simple steps you can take to begin digital marketing yourself to catch the first movers’ attention and overtake your competitors.
Develop a cross-platform digital marketing plan
Create a compelling content
Consistently and continuously maintain the content strategy
Stalk your competition through search results and content
Suggest the use of digital marketing agencies to assist with content creation and marketing campaigns
Putting Digital Marketing into Place
Our team at Imag-Packaging was very excited to discover a very unique set of opportunities and much more significant benefits for our militarily managing digital marketing plan compared to other digital marketing firms who were running sales campaigns with our militarily managing a digital marketing campaign.
Recently, our clients and team visited various digital marketing agencies and companies where they signed a contract with them.
The strategy is customized for a company that’s doing medical device development. The goal of this process is to establish a professional relationship with your company's marketing team.
According to Strategy Analytics Inc., in 2018, digital marketing to help your company stay competitive through your social networks, and valuable patient and prescribing connections will be worth US$48 billion.
In the next years, we expect to see these revenues increase in an even greater manner, and the distribution will be more concentrated and worldwide!
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