A commercial launch strategy is a crucial step in the process of launching your latest MedTech device. This is because the success of your launch will dictate how your product will be perceived by your customers. It will also be the first opportunity for your customers to interact with your product commercially. In this comprehensive guide, we aim to explain every aspect of what you need to know before taking your medical device to market.
Before launching your Medtech device, there are several key factors that you need to consider. These include determining whether your product is innovative, whether it introduces a new product to an existing category, and whether it offers an improvement to an existing product. You also need to decide whether to handle your launch with a professional MedTech marketing team or in-house. Working with an external team can have numerous advantages, such as access to specialist market and product research that you may not have otherwise.
Developing a launch strategy is a collaborative effort that involves a range of specialists to ensure that the strategy remains compelling yet truthful. It is crucial to maintain a strict ethical code to ensure that no false promises are made to sell a product. The team should consider several factors, including unique selling points, the target audience, and how to reach them.
Launching a device without a strategy is not recommended, as the MedTech industry is different from traditional product marketing. The public is rarely the subject of MedTech marketing, as it prioritises science and truthfulness in its claims. A false promise can have a significant impact on someone’s health, making it essential to have a strategy that explains all aspects of the device’s use and applications.
In conclusion, a great MedTech launch campaign can convince your audience that your device can change people’s lives. It combines science with marketing creativity to create something truthful yet engaging for your target demographic. Launching is just the first step in your product’s market development, and post-market research can help you monitor any flaws in its perception and inspire your next product updates. We hope this guide has answered your question of ‘what is a launch strategy?’, making you more confident about launching your MedTech device to the commercial or private market. We wish you the best of luck with your new endeavour!