Advisory boards can be a powerful resource for gathering real-world insights. They encompass individuals who can help shape the success of your healthcare IT company. Yet, the value you get from this group hinges on how engaged they are and how you use their input.
Okay. You might be thinking, “I already have an advisory group.”
Do you actually, though? Is your group composed of end users, legacy acquaintances, and established healthcare IT industry experts without thought to the varying perspectives they provide? This is quite common. Yes, it can be helpful for conducting concept validation and usability studies. But…
In reality, a true advisory board should include a mix of clinical, operational, and financial users. For example, healthcare IT leaders, executives, and business-minded champions.
This blend of perspectives provides a deeper, more layered understanding of healthcare IT market needs, sales dynamics, and product performance. When structured well, these groups can be your secret weapon. Not only for healthcare IT product development, but also for your strategic marketing and sales efforts.
Here, we explore:
- strategies for fostering engagement
- key attributes of an effective healthcare IT advisory group
- how to get the most value out of your efforts and your advisory members’ time
Building and Sustaining a High-Value Advisory Group
Creating a strong advisory board is more than collecting a few recognizable names and slapping them on your website. You want to choose members with strategic intent. Not based on their title or prestige, but on their relevance, expertise, and enthusiasm for the problem you solve. What matters is not who they are. Rather, what they can contribute.
It’s also important to consider what your advisory board will get out of their participation. It should be a two-way street. Meet on a regular basis, share updates, and close the loop on how their feedback is being used. When advisory members feel like you value their time and their input is making an impact, they’re more likely to stay engaged. Even better, you motivate them to evangelize your company and solutions across their networks.
This may seem like a daunting task. Yet, don’t be afraid to start small. A tight-knit group of three to five engaged members is more valuable than a dozen disengaged ones. As your company grows, you can evolve your advisory board. You might augment or swap out members to reflect changes in your strategic priorities.
Set Clear Expectations
When people know what’s expected, they’re better prepared. They become more productive. Let your members know what you expect of them up-front. That might include participation in quarterly meetings, feedback on product direction, or occasional speaking opportunities.
For larger advisory boards, consider forming smaller working groups focused on specific topics. Like, different market segments, clinical workflows, interoperability, or financial ROI. It’s a more effective use of your members’ time and enables a deeper dive into targeted areas.
Bring Your Healthcare IT Brand to Life
Advisory boards can help bring your brand to life. Truly, in ways no amount of internal brainstorming can replicate. After all, they are your real-world validators. They are people who live and breathe the problems your solution aims to solve. And, they can speak first-hand to its value with authenticity. For instance:
- Messaging Validation. Advisory board members act as a vital reality check for your messaging. They help you understand what’s happening on the ground. And, why certain buzzwords might not land well with certain healthcare decision makers. This can help you tailor your positioning in ways that connect with personas across segments: academic, community, outpatient, and enterprise alike.
- Webinars, Podcasts, and Trade Shows. Inviting advisory board members to take part in public-facing events like webinars or podcasts is a great way to showcase thought leadership. Their front-line experience adds depth to your messaging and reinforces your credibility.
- Testimonials. Quotes, video clips, and case studies featuring your advisory members’ insights and experience build trust. They also offer marketing assets you can use across channels.
Roadmaps and Relationships
Whether or not product marketing takes a front row seat at your advisory board meetings, the product and sales benefits of an engaged advisory board are as important (if not more so).
It might be a nurse who spends their day navigating clunky electronic health record (EHR) interfaces. Or, an IT manager juggling system integrations. Your advisory members often have the clearest view of what features matter, to whom, and why and how to implement them for greatest ease of use.
This valuable input can be used to inform product roadmaps. It helps ensure your development priorities are grounded in market demand—not just technological solutionism. Moreover, when your product team is directly involved in these discussions, they develop a more profound and shared understanding that goes far beyond the next sprint or release.
From a sales perspective, advisory members who believe in your solution are often willing to open doors. Whether making an introduction to a colleague at another organization or serving as a reference during a sales cycle, these warm handshakes can be very powerful.
At trade shows or virtual demonstrations, some members may even be willing to meet directly with prospects or speak informally on your behalf. Their voice can be the credibility boost that tips the scales in your favor. It changes a “maybe” to a “yes” during a sales pitch.
Strategic Advantages: Elevate Your Sales and Marketing Efforts
Your advisory board is not only a popularity contest or a checkbox in investor decks. Done right, it’s a strategic tool that brings valuable insight and momentum to your product commercialization efforts.
If you’re looking to start your first advisory board or find ways to increase engagement and value realization out of your existing membership, we can help. Our team has decades of experience building and sustaining effective healthcare IT advisory boards. This approach results in stronger marketing, more compelling sales conversations, and products that solve meaningful problems. Contact us to learn more.
