A medical product launch is a big deal. A lot of time and money has probably been poured into the development of your product, and the launch will largely determine how successful your product is. This, in turn, means that there is a substantial value to gain if you can get your product launch to deliver.
Medical products and devices are complex, and getting them launched just right requires a steady hand. After all, there are a ton of things to get right throughout your journey. When you’ll need to:
- Launch your product through your own organization and have your sales teams buy into it and have the right material at their disposal.
- Get your customers to be aware of your product, understand it and get access to the right specs and details.
- Be compliant with applicable regulations.
- Be mindful of the time it takes to get any potential approvals in order.
- Think about your customer, who might need some time to fit investments into their budget and maybe even get the necessary grants (especially if your product and deal size tends to be on the higher side).
In short, there are a lot of things to get right throughout your launch – and there’s a lot riding on its success. So, how can you make sure that your launch really delivers and that your product makes a true impact on the market?
Getting a medical product launch right
To pull this off, you may need a few things in place. Here, we’ve done our research and gathered 5 ways that can make your medical product launch a success story through and through:
1. Begin in time
If your product is a medical device that requires an FDA approval (or equivalent), it will pay off to start in time. As the actual time to get approval can differ, you may do well to start preparing your launch ahead of time – so that you’re ready to run once everything is in place. You could, for example, start creating a timeline and plan for your launch, get your sales teams trained and prepare any ads, content and promotional material that are to be done anyway.
Your plan and timeline might need to change a bit depending on the time it takes to get approval, but by having things ready you’ll be well-equipped for a successful launch.
2. Plan your marketing efforts
Marketing a medical product entails a lot of explanation, visualization and complex things made easy to understand. With that, it’s crucial that you set a solid plan for who you’ll market to, and how you’ll go about getting your customers interested and eager to buy in.
To do this, you will need to create a solid message around your product, and that resonates with your chosen market. This also means that you’ll need to look at your market and customers in depth, finding the gaps on the market and where you’ll position yourself. All of which will help you create a message and material that gets through to your customers.
You should also think about what channels you’ll use. This could mean social media, custom-made landing pages, live demos or ad campaigns on search engines.
3. Create your content
Now, it’s time to create the content that will pull your customers towards your product. This will be a little bit easier now that you have a clear idea of who you’re targeting and where your product belongs on the market.
The content you produce should be in line with both your message and product, and be absolutely sensational: you have a great product, and your content should be great enough to show this. You should create a variety of content in formats that fit the purpose, and use a combination of image, text and video to get through. Maybe you can even use 3D models to really let your customer experience your product and get a feel for how it works.
Here, you’ll need to balance your desire to create the kind of content that really cuts through the noise, and the need to be compliant with regulations.
4. Bring your sales teams up to speed
Now that you have your message, positioning and content ready, it’s time to bring your product out to your sales teams. Here, the communication needs to be especially clear, and sales teams should get both live training and material to go through. You should make sure that the sales teams all understand your product and have a firm grasp of the specs. They should also be aware of what marketing content they can use at what stage of the buying journey.
This will not only be key to driving sales, but can also ensure a consistent communication with your customers. This, in turn, means that your customers can always get the same message no matter how they come in contact with you, and feel safe and secure knowing that they have the right information. Something that is crucial for your product-launch success, and even more so for a medical product launch. When customers really have to feel safe and secure knowing that the information they get is 100 % right.
5. Launch and follow up
Once everything is in place and your product is ready to head out the door, it’s time to launch your product outside your walls. This means that your sales teams start getting it out to customers, and that marketing may begin pushing the product out in campaigns (if they haven’t already started).
Once your product is out, you will need to follow up, see how it goes and make sure that you’re compliant in each customer interaction. Here, you may find that certain tech can help you gather data on how your marketing efforts are panning out, and how your sales efforts are progressing. You may also find that the right tech can help you be compliant at every step of the way.
With such a technology in place, you can monitor the results of your launch, adjust your content or sales approach and iterate your way toward an incredible market traction.
Want to know how SP_CE can empower your medical product launch? Take a look at our Medtech Showroom, or contact us to get a live demo!