Crowdfunding backers and institutional investors like VC firms, angel and unicorn investors are all hot on the heels of health tech firms, just like SaaS and fintech firms, they offer the promise and also the potential of 10 to 40 times the return. This is all very promising, but attracting investment through different stages of funding involves different marketing strategies, however, to start off, you have to get your digital house in order first as this is fundamental to connecting the brand, product or services to both your customers, press and investors.
So where should a health technology firm get started with its marketing strategy?
Ask yourself: Who are you? What are you selling? What does the market look like right now? Defining your company and your products will help you understand how to position yourself against similar businesses.
The look and feel of your brand and products are very important, as these will resonate with your prospective buyers. They want to buy a product that they know will work but also has values that match theirs.
Defining your audience - segmentation
Who is your audience? What do they know about health technology? What are their pain points? You should know your audience inside out to understand what they need and what inspires them to purchase.
Creative hooks - positioning
Once you’ve defined this, then it’s time to look at what they need to see and hear in your messaging to bring them to your app, products or services. Don’t be afraid to look at your competitors to see what they’re doing. What do you like about them? Do they have an engaged audience? What are their messages?
Are your digital channels sorted?
Your website is your shop window so it’s imperative to get this right. Ensure visitors can find what they’re looking for straight away and they can navigate easily through the site. Choose your SEO keywords carefully to make sure they are the ones used by your audience to find solutions. Create content based on these keywords to drive traffic to your website. Also, make sure your social channels have consistent branding and messaging. These will create a pull to your website and customers and investors may check them out to see if you are a well-established, growing and professional business.
Making sales – Building credibility
Use a combination of brand awareness and sales tactics to increase your visibility and make those sales. Brand awareness is crucial to tell people who you are and encourage trust. Public relations and press increase credibility even further as it is a trusted trade association or publication sharing your key messages, rather than you saying how good you are.
More than any other sector, health technology is an industry where trust is absolutely key, to purchase and for long-term partnerships with clients. That’s why health tech marketing is so important.
Sales tactics such as valuable content, such as whitepapers help capture email addresses. Promotions and discounts, help to persuade someone to step over the line and make that purchase.
Marketing gets results
Be in places where your audience is. Consider reviews, newsletters – yours and from other organisations, webinars, speaking opportunities, podcasts, social media updates, PPC and ads, direct mail, as well as comments and articles. Get your messages into the hands of your potential buyers.