Navigating the medical device and med tech marketing landscape can feel like a marathon. With the global medical devices market projected to grow from $542.21 billion in 2024 to $886.80 billion by 2032 – and North America grabbing a hefty 38.16% share in 2023 – the opportunities are huge (Fortune Business Insights, 2024). But let’s be honest: the path to closing deals in this space is often winding and complex.
Why Do Sales Take So Long?
From my team’s experience at Blue Craze Media, several factors contribute to these drawn-out sales cycles:
- Multiple Decision-Makers: It’s not just about convincing the doctors. Procurement officers, hospital administrators, and even regulatory bodies have a say. Engaging all these players early can make a world of difference.
- Regulatory Compliance: The med tech world is heavily regulated. Navigating evaluations, trials, and approvals can feel frustrating, to say the least.
- High Investment Costs: Medical devices aren’t cheap. Hospitals and clinics need to be sure they’ll see returns on what they’re paying for, leading to thorough financial reviews.
- Education and Training: Even the most groundbreaking device needs proper onboarding. Healthcare professionals need to understand its benefits and how it impacts patient care.
- Competitive Landscape: With many players in the field, standing out requires consistent engagement and building genuine relationships.
The Hidden Heroes: Non-NPIs
While physicians and clinicians (NPIs) are crucial, there’s another group influencing purchasing decisions: Non-NPIs. This includes procurement teams, hospital administrators, and practice managers. Engaging these folks early can streamline the sales process and lead to more predictable outcomes.
How We Tackle This at Blue Craze Media
We’ve honed a full-funnel marketing strategy that zeroes in on Non-NPIs:
- Targeted LinkedIn Outreach: We connect with procurement officers, practice managers, and admins through personalized messages that speak to their unique challenges.
- Personalized Email Sequences: Sharing content like budget justification resources and compliance guides helps address specific concerns.
- Strategic Content Distribution: By spreading valuable insights across various platforms, we ensure all decision-makers stay informed and engaged.
It’s Time To Shorten That Sales Cycle
The bottom line is: by focusing on Non-NPIs, my team and I have seen sales cycles shrink, lead conversions rise, and ROI improve. If you’re looking to navigate the med device / med tech marketing maze more effectively, we’re here to help.
Check out our upcoming webinar: “Expanding Influence Beyond HCPs: Targeting Non-NPIs to Drive Medical Device and Biotech Adoption.” During this session, we’ll take a look at some actionable strategies to engage more key players in the life sciences space and help boost your marketing efforts.
REGISTER HERE: https://bit.ly/4hLVSPU
Sources
- Fortune Business Insights. (2024). Medical Devices Market Size, Share & COVID-19 Impact Analysis, By Type, By End-User, and Regional Forecast, 2024-2032. Retrieved from https://www.fortunebusinessinsights.com