Marketing Medical Breakthroughs
In the world of medicine and medical supplies, new breakthroughs and products occur frequently. The possible benefits of new and better medicine and health care supplies on the market may be obvious to you, but getting the rest of the world to notice can be difficult.
What you need is pharma market access. While it can be tough to break into the medical market and sell your product, it is an essential step. Unfortunately, there is no fail-safe plan for marketing your product, but you can help increase your chances of success by following the following tips.
- Make your message clear.
What is it that your product does? What does it do better than similar products? Why should potential users and medical professionals care?
- Who are you targeting with your product?
Figuring out how to target professionals will be different from how you target the general populace. And within the populace, a product geared towards different age groups will be marketed differently.
- How do you want to represent your brand?
While the above points funnel into this one, remember to pay attention to the way you want to present your company and product to best showcase your product. Product marking is as much about the company behind the company selling the product as it is the product itself.
- What is your competitive pricing strategy?
People may pay more for a better product that is marketed right. Or you may want to entice purchases with a lower price. Unfortunately it is all about recouping development costs—you can only price your product so low before you know you’re going to be running in the red. You’ve got to be able to pay off the costs and make some pocket change.
So a lot of it is about knowing your market. You can’t expect your market to come to you. Go to the market in a way that appeals to them. For example, if you’re trying to get market access for medical devices, get a booth at a relevant convention and showcase your device there. The professionals who go to the convention will be able to see your device, how it works, and why it would make sense for them.
One possible goal is to secure contracts for your work. Contracts management allows you to work out an agreement with other companies, medical facilities, and agencies to use your product. It isn’t easy to secure these contracts, but once you have them you will be directly building your market.
A great option is to get a government contract. The government can be great to work with since they have their fingers in all sorts of markets. Government contract management can be tedious because of all the paperwork involved, but ultimately it will pay off.