How I Transformed a Medical Device Company's Marketing Strategy to Achieve Explosive Growth
Summary
A medical device company specializing in sleep apnea treatment approached me with stagnant sales and no clear marketing strategy. They faced the challenge of targeting multiple stakeholders and needed direction to boost exposure and sales. Through detailed stakeholder profiling, crafting a value-based product story, website transformation, and implementing a sales funnel, we honed in on the ideal customer, the patient. This shift in focus led to remarkable growth, and they are now partnering with a major digital marketing agency to scale their success further.
Problem
When the medical device company initially approached me, they were offering a groundbreaking sleep apnea therapy alternative to CPAP machines. Despite having launched their product a year earlier, sales were not meeting their expectations. Their primary challenge lay in the absence of a coherent marketing strategy. They wanted to increase exposure and boost sales but lacked direction. Furthermore, they were grappling with the complexity of having multiple stakeholders in the decision-making process: doctors, patients, and home medical equipment (HME) providers. Without a clear understanding of who their ideal customer was, they struggled to influence the buying process effectively.
Solution
To address these issues, we embarked on a strategic journey that began with in-depth stakeholder profiling. We meticulously examined the needs, demographics, values, and traits of doctors, patients, and HME providers. By understanding their core needs, we identified the patient as the ideal customer profile (ICP) due to the product's ability to fulfill all their requirements effectively.
With the patient as the primary focus, we created a product capsule, a tool that framed the product's value proposition around the patient's needs, features, and evidence. This formed the foundation for a patient-centric website transformation, optimizing the messaging and content to align with the patient's perspective.
Additionally, we mapped out the patient's buying journey, breaking it down into actionable steps. By implementing a tailored sales funnel, we facilitated this journey, guiding patients through the evaluation process, qualification assessment, and ultimately, taking action by engaging their doctors for prescriptions.
Outcome
The outcome of our strategic interventions has been nothing short of remarkable. The company now has a laser-sharp focus on their ideal customer, the patient, and has directed all marketing efforts toward them. This shift in strategy has resulted in substantial growth, with an upward trajectory in sales. The next exciting phase involves collaborating with a major digital marketing agency to drive even more traffic through digital advertising, enabled by our work in understanding the patient's buyer journey and establishing measurable steps. With message-to-market fit and measurability in place, the company is poised for efficient and profitable scaling.
In summary, our journey with this sleep apnea device company has transformed their marketing strategy, reigniting their growth trajectory and positioning them for future success. By identifying the ideal customer, crafting a compelling value-based product story, and implementing an effective sales funnel, we've not only achieved product-market fit but also set the stage for continued expansion and profitability.