Do you run a medical device company and want to promote it? If YES, here is a sample medical device marketing plan template, strategies and ideas to attract clients. Okay, so we have considered all the requirements for starting a medical device production company.
We also took it further by providing an in-depth sample medical device business plan template. In this article, we will be analyzing and drafting a sample medical device marketing plan backed up by actionable guerrilla marketing ideas for medical device production companies. So put on your marketing hat and let’s proceed.
A Sample Medical Device Marketing Plan Template
Table of Content
- Our Present Business Situation
- Our Market Goals
- Our Marketing Budget
- Our Target Market
- The Benefits Our Client Stand to Gain When They Patronize Our Medical Devices
- Our Unique Selling Point; What Makes Our Medical Devices Superior to Our Competitions
- Strategic Marketing Alliance with Our Competitors in the Medical Device Manufacturing Industry
- Creating Brand Identity for Our Medical Device Development Company
- 10 Possible Questions We Intend Asking Our Customers During Our Market Survey
- The Ways We Intend to Advertise/Promote Our Medical Devices on the Internet
Our Present Business Situation
Our medical device development company has been legally registered and we have acquired the required business license and all the necessary permits to run this type of business in the United States of America.
Presently we have acquired a facility that has the capacity to accommodate our production unit, warehouse, and administrative unit. All the employees that are needed to kick start the business have been duly employed and trained. We have been able to secure all the needed equipment and machines and accessories for a standard medical device development plant.
We have been able to develop a robust distribution network that is far-reaching and will be activated as soon as we roll out our first set of electromedical and electrotherapeutic apparatuses, such as magnetic resonance imaging equipment, medical ultrasound equipment, pacemakers, hearing aids, electrocardiograph, and electromedical endoscopic equipment et al.
Our Market Goals
Our marketing goal is to build a standard and world class medical device development company that in our own capacity will favorably compete with leaders in the industry.
We want to build a medical device development business whose brands will someday become a household name in the healthcare and medical industry not only in the United States of America but also in South America, the Caribbean, and Africa. We want to become the number one choice for medical devices in the United States of America.
In view of that, we are set out to achieve the following market goals:
- Sell a minimum of 5000 Medical Devices Per Day Globally
- Make a monthly sale of about $450,000 and about $950,000 for the first year and double the amount for the second year
- Increase the number of our wholesalers and distributors by 5 percent quarterly
- Generate 50 percent of sales from exporting our medical devices to Africa (20 percent), the Caribbean (20 percent), and South America (20 percent)
What we aim to achieve from our market efforts are as follows:
- To be able to compete favorably with the leading medical device development brands such as Abbott Laboratories, General Electric Company, Johnson & Johnson, and Medtronic in the whole of the United States of America
- Build a self-sustaining business model that will run on auto – pilot and of course, contribute towards the reduction of the cost of medical devices and the growth of the economy of the United States of America.
Our Marketing Budget
The fact that our goal is to establish a medical device product – brand that will compete favorably with internationally recognize and leading brands means that we should be willing to spend more when it comes to marketing our medical devices hence we have set aside a budget of 30,000 US dollars annually for marketing.
Going forward, we will budget between 5 and 10 percent of our annual income towards marketing and promoting our medical device brands – products. Please note that we are likely going to increase this budget when the need arises especially if we have to explore a more expensive but efficient marketing model and approach as directed by our marketing consultant.
Our Target Market
When it comes to selling medical devices there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just hospitals and medical clinics in our immediate community or city, but all across the United States of America and other countries of the world.
In view of that, we will market our medical devices to the following people;
- Medical laboratories
- Medical colleges
- Dental clinics
- Optical center
- Botox clinics
- Medical related clinics
- Medical device wholesale distributors
- Medical device retailers
The Benefits Our Client Stand to Gain When They Patronize Our Medical Devices
We are quite aware of the competition that exist in the medical device manufacturing industry in the United States of America, hence we were able to conduct a thorough feasibility studies and market survey so as to enable us penetrate the market.
In view of that, here are the benefits our customers stand to benefits when they purchase our medical devices:
- A product that can effectively serve the purpose it was created for
- The best price/deal they can get for any of our medical device in the whole of the United States of America
- Opportunity to choose from a wide range of different types and sizes of medical devices
- Availability of money return back policy for first-time customers who just want to try out our medical devices
- Wide range of distribution network
- Excellent customer service experience from our highly trained employees
Our Unique Selling Point; What Makes Our Medical Devices Superior to Our Competitions
We are quite aware of the competition that exist amongst medical device development companies in the United States of America which is why we have decided to craft out a unique selling strategy that will help us attract our target market and of course outperformed our competitors.
Another factor that will serve as a positive for us is that we will continue to work with our customers to make sure that our customer service delivery is top notch and we will also ensure that we offer our customers incentives.
As part of what we intend doing to outperform our competitors and build a solid medical device development business with loads of loyal customers, we will work towards ensuring that our production facility is designed in such a way that it will meet the expected standard required by the authority.
Strategic Marketing Alliance with Our Competitors in the Medical Device Manufacturing Industry
Forming strategic marketing alliance with a competitor in the medical device manufacturing industry is a bit difficult because every medical device development company out there is positioned to attract as many customers as possible.
Be that as it may, there are rare occasions where medical device development companies can form strategic marketing alliance amongst themselves. Since, we will be involved in development and production of medical devices, it will be easier for us to form strategic marketing alliance.
Creating Brand Identity for Our Medical Device Development Company
We are quite aware that our brand has to do with the way people perceive us to be which is why we are deliberate when it comes to communicating and promoting our brand.
In promoting our brand and corporate identity, we will leverage on print and electronic media. As a matter of fact, it is cost effective to use social media platforms to promote our brand, besides it is pretty much effective.
Here are the ways we intend creating brand identity of our medical device development company
- Design a unique corporate logo
- Place adverts on both print and electronic media platforms
- Ensure that our workers wear our branded shirts at all times during working hours and also we will make sure we brand all our distribution vans, trucks and cars et al.
- Place our flexi banners with our company’s logo and contacts in strategic positions
- Sponsor relevant TV programs, Radio programs and community – based programs
- Maximize our company’s website to promote our products
- Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, LinkedIn, Snap Chat, Google+, Pinterest and other platforms to promote our corporate brand
- Install our Bill Boards on strategic locations
- Distribute our fliers and handbills in targeted areas from time to time
10 Possible Questions We Intend Asking Our Customers During Our Market Survey
These are the 10 possible questions we are going to put forward when conducting marketing survey on our customers/clients:
- Are you satisfied with the efficiency and effectiveness of our medical devices?
- If you are not satisfied with the efficiency and effectiveness of our medical devices what areas would you want us to improve on going forward?
- Which of our electromedical and electrotherapeutic apparatuse do you prefer?
- How would you want us to communicate with you when we need your contributions as it relates to producing a product that will benefit you or when we have a promo that you can benefit from? Text messages, e – mail, or via mobile apps (BBM, twitter, WhatsApp et al)
- How much are you willing to pay for our electromedical and electrotherapeutic apparatuses?
- Is there any medical device that you would prefer that is not part of our production line? If yes please list them.
- How often do you change your medical devices and where do you usually go to purchase them?
- If you are to change one thing in our company and product, what would that be?
- Can you comfortably recommend our medical devices to your organization, other organizations and colleagues?
- Are you satisfied with our customer service delivery? If not, what areas would you want us to improve on?
Our Retention Strategies (Ways to Improve Our Customer Experience)
When it comes to retaining your customers in any business, you must work hard to continue to meet and even surpass their expectations whenever they buy your products. The success of any business is directly proportional to the number of repeat business they are able to generate.
If a company is able to achieve over 60 percent retention, the company will sure experience huge turn over. We have perfected plans on how to improve our customer experience whenever they purchase our medical devices.
These are the ways we intend improving our customer experience so that we can create a good impression and generate repeated sales from them:
- Ensure that our medical devices are durable and effective at all times
- Ensure we get feedback from our customers at all times
- Give our customers the flexibility to choose from a wide range of pocket friendly medical devices.
- Give our customers the option of ordering our medical devices in bulk from our online portal and get them delivered in any location of their choice within the area that we cover
- Make use of effective customer relationship management (CRM) software to effectively manage our clientele base.
- Ensure that we carry our clients along when making decisions that will directly affect them.
The Ways We Intend to Advertise/Promote Our Medical Devices without Using the Internet
Here are the platforms we intend leveraging on when it comes to advertising and promoting our medical devices in the market place;
- Place adverts on national TV stations, Radio Stations and Newspapers/Magazines
- Sponsor relevant community program
- Encourage the use of word of mouth from satisfied customers
- Install our Bill Boards on strategic locations
- List our medical devices development company and products on yellow pages
- Distribute our fliers and handbills to targeted areas from time to time
- Ensures that our workers and distributors wear our branded shirts during working hours.
The Ways We Intend to Advertise/Promote Our Medical Devices on the Internet
We are quite aware that the internet is presently the biggest platform when it comes advertising/promoting any business and one good thing about advertising on the internet is that it is far cheaper than other conventional advertising platforms.
Here are they ways we intending leveraging on the internet to advertise/promote our medical device development business:
- Leverage on social media platforms such as; Instagram, Facebook, Pinterest, Snap chat, YouTube, Twitter, and Google + et al
- Make use of mobile apps to promote your medical devices
- Design an interactive corporate website and use the platform to promote our medical devices
- Place adverts on high traffic websites
- Post sponsored articles on high traffic blogs
- Engage in blogging and make use of the platform to promote our medical devices
- Leverage on email marketing strategy to advertise and promote our medical devices.
The Possible Ways We Intend Offering Incentives to Our Customers/Clients
Part of our marketing strategies which is clearly stated in our business plan is to ensure that we offer our customers incentives in order for us to retain them and of course continue to generate repeated sales from them and also to attract new customers.
In view of that, we will ensure that we sell our medical devices a little bit below the average price in the industry. We will regularly give discount (different percentage) to our customers based on the total amount of medical devices they purchase from us any time they visit our warehouse or wholesale distribution outlets.
We will create a loyalty plan that will enable us reward our loyal customers especially those who are able to successfully market our medical devices to their organization, other organizations and colleagues. Rewarding them could be giving them discounts on every purchase they make and also giving the gifts during special occasions
After Sales Service and Customer Support
The fact that we are going to be selling medical devices and equipment means that we will make provision for after sale services. After sales services as it relates to our medical devices business is that once we sell any medical devices and equipment, we will take it upon ourselves to ensure that we assist our customers in installing the medical device and equipment in any location of their choice and also we will be available for maintenance services.
As regards customer support services, we are not going to handle it with slackness, we will maximize our customer relationship management software application so as to keep in touch with all our members. We will make sure we carry them along when we have any promo that we know will benefit them.
We will ensure that we open several communications channels such as email, telephone and social media platforms so as to enable our customers communicate to us or lodge their complaints.
The Creative Marketing Ideas Specific to Our Medical Device Development Business
When it comes to crafting creative marketing ideas that are specific to medical devices business, one of the strategies to adopt is to ensure that we give out free medical devices to customers once in a while especially during our marketing and sales campaigns. This will enable potential customers have a taste eel of our medical devices.
In recent time, the internet has become one of the most potent tools when it comes to marketing any goods and services. Those who produce and sell medical devices are not left out when it comes to developing creative ways of marketing their medical devices via the internet. One thing about internet marketing is that you can direct your marketing effort towards your target market with the help of internet filters and other relevant software applications.