LinkedIn for Med Device Companies

  • LinkedIn can be an especially powerful tool for building your business or brand in the B2B space. When you look at the statistics, 96% of Americans are on Facebook so it’s no wonder that many people are focusing efforts there. But the second highest percentage of people are networking on LinkedIn and the types of transactions that are being conducted on LinkedIn are different than on Facebook. 

Most people are on Facebook to update their photos, checking-in to see what their friends are doing – they’re using it more for personal and social purposes (and a recent poll suggests that less than 20% of people have ever made a purchase based on something that they saw on Facebook). LinkedIn on the other hand is primarily a business networking site, so if you’re looking to network with potential customers (yes, MDs are on LinkedIn too!), recruit talent or otherwise engage in industry-wide discussion, LinkedIn is a great place to go.

LinkedIn is also a place where the playing field is somewhat leveled between the ‘big boys’ and the smaller start-ups. Regardless of whether you have a $100M or a $100 marketing budget, everyone kind of looks the same on LinkedIn. So it’s a great place where as a smaller med device start-up, you can start to build some credibility. So then the question becomes, how can you build credibility and portray yourself as an expert on LinkedIn?

Set up your company profile on LinkedIn. You can increase your exposure on LinkedIn by creating a company profile which can include your location, related companies, employees,  products and services, etc… Just as people can add your personal profile to their LinkedIn Network, they can also follow your company. This is also a great way to keep stealthy tabs on your competition and what they’re doing (!) 

Join and Participate in Industry Groups on LinkedIn. It’s your job to be an expert in your field. That’s why people buy your products and hire your company because you provide a unique product, service or expertise that they need. The beauty of LinkedIn Groups is that they’re a ‘safe place’ where people can talk, hang-out and meet others in the industry. By participating in these groups and sharing good, salient, VALUE-ADDED information, you’ll generate the interest and respect of your group members. Just like in any social-networking forum, opinion leaders and experts start to rise and bubble to the top, so join some groups and participate in the conversation.

Ask for recommendations on LinkedIn. Recommendations are something that you can use on your website, in your marketing materials and even in your internal communications to your team. Nothing motivates a sales team more than a physician or patient success story. Plus, recommendations show up on your profile and are a great way to quickly demonstrate both the types of products that you develop and the types of customers who appreciate your work.

Post Your White Papers, Poster Presentations and Clinical Papers in a Group: LinkedIn is a B2B communication zone. People in groups want to talk and learn more. If you publish new content, post it in relevant groups on LinkedIn, and pick up new exposure, comments, and potentially new customers.

One note of caution: Keep in mind that most of the content on LinkedIn will be publicly available so do make sure that you’re mindful of what you are posting as it will be read by physicians and consumers alike as well as by friends – and potential foes.

3D Printing and What it Could Mean for the Medical Device Industry

The rise of 3D printing technology has opened up exciting new opportunities and possibilities for medicine, particularly in the medical device space. Some early game changing instances have already been reported this year, as a 3-D printed medical device was used earlier this year to save an infant’s life.

In late May, 6-month-old Kaiba Gionfriddo was diagnosed with tracheobroncholomalacia, a condition where breathing is impaired due to soft cartilage throughout the trachea. Had Kaiba been brought into Univeristy of Michigan’s C.S. Mott Children’s hospital a year later, this condition would have been fatal. Fortunately for Kaiba, among those handling his case was Scott Hollister, a biomedical engineer who had been exploring the medical applications of 3-D printing. When no option seemed available, he stepped in with the idea of creating a custom splint that would fit into the infant’s trachea. The medical team proceeded to take a CT scan of Kaiba’s chest and then create a 3-D render of the child’s trachea. From here, they designed and printed a custom splint that would be a perfect fit once implanted. Within three weeks, Kaiba had resumed normal breathing without the assistance of a ventilator.

The case is an early example of what could soon become the norm in life-saving medical technologies. While the technology of 3D printing has been around since 1984, the last five years have expanded the range of models expanding both the large scale capabilities and reach in larger consumer markets. The trend in technological development shows that as 3D printers are becoming smaller and cheaper to make, their range of capabilities are growing in depth. For hospitals and medical centers, this means owning a 3D printer could soon be common practice and no longer a privilege afforded to specialized centers such as C.S. Mott’s Children hospital.

Combined with CT Scanning capabilities, 3D printing could lead to an increased number of devices that will be created to specifically match the need of that patient. Additionally, as the range of materials that can be printed are expanded, common and frequently used disposables could soon become printed based on need, potentially freeing up shelf space and opening up inventory for items that previously could not be justified keeping on site.

Assuming the inevitability of 3D Printing devices in hospitals, it is worth predicting how this new technology could affect companies that currently manufacture the devices that could be printing. First, how medical devices are licensed and intellectually owned could be brought up into debate. As hospitals begin printing their own devices on a larger scale, manufacturers of those designs might claim licensing over their design. While the hospital would seek to save costs by printing such devices themselves, these manufacturers could charge a licensing fee as is seen in other industries. Claiming licensing over 3D printing blueprints for certain medical devices could offer manufacturers a unique financial incentive as well, potentially allowing them to evade the medical device tax posed by Obamacare. One way to think about how this system could function is to consider how we digitally purchase music today from a platform such as iTunes. While we are not paying for a physical manifestation of a song, we still pay a licensing fee to iTunes as part of every music purchase that grants us rights to play that song. Device manufacturers could lease product blue prints to hospitals the same way, charging hospitals for the rights to print certain materials.

As has been the case with the music industry, 3D printing could also lead to “pirating” medical devices. This issue has already arisen in other fields of 3D printing. In May of this year, a US company Defense Distributed produced a blueprint that could be downloaded and used to print a working firearm, spurring a new debate over gun control amid fears of unregulated gun printing. With a life on the line, it is not unreasonable to imagine a scenario where a hospital on a tight budget could turn to a pirated blueprint for an emergency device. Unfortunately, these unlicensed blueprints would have not have the same guarantees and would put a patient at risk.

Considering again the manufacturers of medical devices, one final problem 3D printing could pose is the lost of income medical device manufacturers could face as a their products become increasingly printed instead of bought in bulk. While it is easy to chalk this up to pure capitalism and claim it as an instance of new technology replacing the old, it cannot be ignored that the profits of these sales are more often used to fuel the innovation and creation of new technologies. With the sudden loss of a stable revenue stream, manufacturers could curtail researching efforts, resulting in a wide spread reduction in the rate at which new medical devices are produced.

Trends in hospital spending impact the medical device industry

Med device marketers – take note! If you aren’t already seeing the impact healthcare officials are taking to limit hospital spending, you will be shortly (and this goes way beyond the medical device tax). Recent reports have shown that healthcare spending has been significantly increasing over the last 10 years. And many healthcare officials believe that the current rate of growth is unsustainable. The average price of new cancer drugs alone has more than doubled within the last decade from about $4,500 to 2002 to around $10,000 today. While the prices of medical devices are in actuality rising at a much slower rate, medical device marketers are still threatened by a growing skepticism around what some perceive as excessive expenditures within the hospital setting.

As a result, leading healthcare centers have begun saying no to new drugs and treatments where the cost/benefit ratio seems off-balance. Recently, Memorial Sloan-Kettering Cancer Center announced in October this year that they would not be providing a new cancer drug, Zaltrap, as a treatment option for their patients.

While studies demonstrated that Zaltrap prolonged patient lives by an average of 1.4 months compared to a standard chemotherapy regimen, the drug cost more than $35,000 during each month of treatment. Because of this, the physicians of Memorial Sloan-Kettering Cancer Center argued that the slightly better benefits of the drug did not justify the associated cost.

5 Tips: Package Design that Makes a Statement

You’ve built THE BEST thing since sliced bread. A product that is going to completely revolutionize the way physicians are treating their patients. You’ve done all of your due diligence, bench-top testing, lab testing, physician testing, you’ve got your 510k and now it’s time to put it in a box and on the hospital shelf. 

Your beautiful product, the one that you and the R&D team have spent the last two years developing goes into a plain white box.

What?!??!

But you’re saving time. You’re getting it to market faster.

What!?!?

But you’re saving money, printing a box isn’t cheap.

What’s that saying – you never get a second chance to make a first impression? 

Here are our

5 Tips for Designing a Package that Makes a Statement

1. First, how will your package sit on the hospital shelf? Will it sit on it’s side? On it’s bottom? Will it hang? What side will face the user?

2. Then think about what your audience will need to see – how they’ll identify and differentiate your product from others on the shelf. What does the competition look like? How will you differentiate your brand from others from your organization so that there’s no confusion. Sometimes the spine is the piece of the box we end up spending the most time on. 

3. Don’t forget about how the physician or lab tech identifies the product and the type of language that is typically used in the lab. Is someone more likely to request a ‘Zotarolimus-Eluting Coronary Stent System’ or  are they going to say grab me a 34mm Resolute. Put that information in an easy to spot place.

4. Use the brand hallmarks (logo, color pallate, imagery) that will define your brand moving forward. This is an often missed opportunity to start building brand identity.

Speaking of colors, a quick note on gradients. We’ve found that trying to blend two spot colors (or a spot color with a cmyk color) can pose a potential problem on press. It’s much safer to keep your gradients as a blend between two cmyk colors. Also – don’t forget about basic color theory. If you try to blend 2 complimentary colors (e.g., yellow to purple or orange to blue), the center of your gradient is going to look like mud. Better to keep your gradient between two colors that are somewhat closer on the color wheel.

5. Lastly, think about your package as a final selling opportunity – almost like an end cap display in the grocery aisle.  What do you want your physicians to perceive about your product? What last bits of information do you want your end user to know?

Yes your package will likely be opened and thrown away. However, that very package is the first chance that anyone within the hospital (and within the sales organization) has to experience your brand. So what kind of brand are you building? What kind of experience do you want for them to have? Probably not the kind that starts with a plain white box!

We’ve designed lots of different packages for our med device marketing clients.

Take a look at some of our case studies, and then let us know what we can design for you.

 

A Business Plan Number Does Not a Marketing Plan Make

Companies often spend weeks if not months working out their business plans for the coming year. The presentations get written, presented to ‘The Board”, get reviewed, critiqued and then re-written. The focus of the critique and the re-write is often in relation to the BP Number – how much money the brand, the team, the company is going to make.

Invariably after some back and forth, some rethinking, and re-crunching, budgets get cut, and sales / share goals get ‘stretched’.  Brand teams are left with a bigger number to hit and less money to get there.

If this sounds familiar – you’re not alone!

The last thing you want to do in this case is write another full-blown plan.

Unfortunately now you need one more than ever, because now every penny counts. You must make sure that every program that you’re developing is going to deliver the impact that you need.  You must prioritize sales and distribution team efforts, and you must squeeze every dollar out of every contract negotiated – a daunting prospect particularly if you were hoping to hit the ground running January 3rd.

Download our free goal planning template

Your brand and your product positioning probably didn’t change with the business plan re-writes so your marketing STRATEGY remains sound. It’s the tactics and how you realize the strategy that needs to be reconsidered. You could write a full-blown marketing plan – or you could save valuable time and effort by getting S.M.A.R.T about your marketing goals. 

Specific.          

Measurable.          

Actionable.          

Realistic.        

Timely.

‘Launch Product X’ isn’t a S.M.A.R.T. goal, you’ve got to get much more granular than that.  Who are you going to launch that product to? What tactics will you deploy to pre-seed the market and build the level of awareness? Where will you communicate your message? Why does your customer care about the product benefit? How will you measure success?

Put your thoughts down on paper. Or better yet – download our free S.M.A.R.T goals template. This way you’ll ensure that everyone on your marketing team, every one of your distributors, every member of your sales organization is aligned towards your common goals. 

Download our free goal planning template

Spend some time going through the exercise, and if you need direction or help call us. We help Med Device Marketing teams develop their goals, strategies – and then execute on the tactics. From strategic planning to brochure development and video animations, The Matchstick Group understands what Med Device Marketers need – and we help spark the ideas to get you there.

Surgical Specialties Corporation Brand Architecture

Surgical Specialties Corporation Brand Architecture

Challenge

Surgical Specialties Corporation, formerly Angiotech, was a perfect storm of company growth, corporate reorganization, decades of branded product acquisition, and newly established branding among flagship products. Hospital administrators did not relate to the SSC brand and few made the connection between products they had been using all along and the new company identity.

Objective

Define and communicate corporate as well as umbrella and family brands to create a modern, streamlined, synergistic brand architecture to reflect the new SSC corporate identity while retaining the equity of its legacy. This would be a complete branding overhaul organizationally and creatively.

Strategy

Identify and unify three major family brands under the new Surgical Specialties Corporation brand: The Quill™ Knotless Tissue Device; BioSentry™; and SSC sutures, knives, needles, and related surgical products. Bring the branded legacy products into conformity with the new branding. Launch a new Website to introduce the corporate and individual brands.

Execution

The Matchstick Group along with our digital partners at New Haircut created a new look and feel for the organization. Old assets work together by combining the new SSC branding with their familiar and established identities. Leadership brands stand out boldly. The family brands and sub brand work together in hierarchy, structure, and importance. From logo to layout, to digital execution the identity is clean, clinical, fresh, and inviting.

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SABER

SABER

Challenge

The Cordis team was looking to launch a new PTA balloon catheter into a crowded competitive marketplace. But this wasn’t just any product launch. It was one of three new product launches that year (after a bit of a drought) that served as an opportunity for Cordis to draw a line in the sand and retake their position as an innovator and leader in the endovascular space. So it needed to be BIG!

Objective

Create the perception among internal and external stakeholders that SABER was a high-performing PTA Dilation Catheter that was sure to become the new gold standard.

Strategy

Define a differentiated positioning for the product and build a brand that the team - and their customers could become passionate about.

Execution

We started at the top with SABER defining the brand’s positioning as the balloon that delivered more - more performance, more durability and more sizes to enable physicians to treat more patients. The Matchstick Group spun that out into packaging, printed promotional materials, a series of internal campaigns and with our app development team at LifeScience Media, an HTML5 app with interactive portfolio matrix. The launch of the product was so successful and the branding so well defined that the team is leveraging the new equity to build an entire line of extension and complimentary products around it.

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If you’re a medical device marketer, use the form below to get in touch. We’ll get back to you within one business day.

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Start a conversation about your medical device marketing strategy.

CALL US NOW: +1 (914) 318 7611

If you’re a medical device marketer, use the form below to get in touch. We’ll get back to you within one business day.

Biosentry

Biosentry

Challenge

Surgical Specialties Corporation was bringing a new product to market that would revolutionize the way interventional radiologists (IRs) thought of pneumothorax caused by percutaneous lung biopsy. However IRs didn’t really want to talk about the issues of pneumothorax and certainly didn’t want to admit that a pneumothorax happened in up to 10% of their cases

Objective

Define a new category AND overcome the perception that pneumothorax was not an issue and find a way to break down the barriers of communication

Strategy

Define new brand language and unique lexicon that spoke not about treating a pneumothorax but about protecting patients from one

Execution

We started with market research - spending time talking to IRs about some of the issues, fears and situations that they faced every day when performing percutaneous lung biopsies. We uncovered the relevant insight that these physicians hated the idea that they might cause a pneumothorax in a patient when what they really wanted to do was to protect them. From there, we developed a unique brand position in the market, executed a compelling creative campaign and rolled that out across multiple channels. The first of which was a product animation that not just showcased the product features, but really sold the overall value proposition.

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If you’re a medical device marketer, use the form below to get in touch. We’ll get back to you within one business day.

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Start a conversation about your medical device marketing strategy.

CALL US NOW: +1 (914) 318 7611

If you’re a medical device marketer, use the form below to get in touch. We’ll get back to you within one business day.

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LATEST ARTICLES

Contact Us

Start a conversation about your medical device marketing strategy.

CALL US NOW: +1 (914) 318 7611

If you’re a medical device marketer, use the form below to get in touch. We’ll get back to you within one business day.