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This case study features HealthLytix, a startup with academic connections to the University of California, San Diego (UCSD). This provided strong relationships with clinicians at UCSD that enabled early clinical proof points to be developed. However, the company did not have any product launch plans to move those products to the commercial market.
As is typical in early stage startups, the founder and staff leaned towards being academics or technical experts with little knowledge about product commercialization and marketing. Any materials that had been produced were highly technical.
With Healthcare Service Consultant’s guidance, the company was able to:
- Successfully launch its first commercial products.
- Develop relationships with important OEM partners.
- Gain visibility in the marketplace and a foothold with paying customers.
1. Client Company Overview
At present, the company’s mission is to “improve screening and early detection of cancer and neurodegenerative disease so people can enjoy longer, healthier lives while reducing healthcare costs.”
Primary market drivers were:
- A need for more accurate disease screening within medical imaging.
- The opportunity to improve radiologist efficiency and productivity in the screening process.
2. Challenges
2.1 Zero Product Launch Plans
One of the main priorities HealthLytix was pursuing was its first commercial product launch. But, they had not developed any product launch plans or marketing support for the launch. They did not have anyone on staff with product marketing and go to market experience who could organize and lead their commercial product launch efforts.
2.2 Limited OEM Partnerships & Sales Support
Before we came on board, existing marketing and sales materials were created by the lone sales rep, who spent 50 percent of his time trying to create and foster relationships with OEMs. Because their go to market approach included developing OEM channels and selling direct to healthcare providers, the sales leader needed a partner in the marketing effort. HSC worked with sales to understand buyer needs and objections and develop the messaging needed to resonate with the decision makers and influencers in each group.
2.3 Technical Messaging
As a small company, HealthLytix’s limited marketing efforts initially leaned on the academics at the helm. The company was being thwarted by limited sales and marketing materials. Any materials that did exist were highly technical and did not articulate product benefits. In addition, these materials did not fully articulate the product’s value according to different buyer personas, which were many.
3. How We Helped
3.1 Marketing Requirements Document
We spent a great deal of time investigating the market and medical imaging applications being targeted. We collected feedback from clinical collaborators. We researched use cases. Our creation of a marketing requirements document drove better understanding of the market drivers, market size, target market segments, and benefits per buyer persona. All of this information enabled us to inform the business, develop optimal value propositions and to properly position the product in the marketplace.
3.2 Trade Show Support
HealthLytix’s first major trade show coordinated with the product launch. Our contributions solidified their trade show presence. We developed pre-show promotions, booth support materials and developed the on-booth messaging. We implemented plans that increased booth traffic, prescheduled meetings and increased awareness of the product and the company.
3.3 Developed Partnerships with OEMs
Our OEM partnership strategy was closely aligned with the product launch. All of the materials we created worked to support OEM relationships, including:
- Thought leadership content (white paper, case study)
- Full-branded sales collateral that encompassed both hospital buyers and OEM partners
- Press releases surrounding OEM partnerships and product launch
- Trade show materials specifically targeting OEMs
3.4 Built Out Company Website
The company’s website was initially sparse–not surprising for a startup grown from academia. We developed three new pages (both content and design), to support the new products being launched. This created a fully formed website that presented sufficient details about the value of the product. These pages along with existing content reflected the refined benefits-focused messaging.
4. Results
5. Let Us Help You
6. Customer Testimonial
Healthcare Service Consultants helped get us off the ground, as we were a healthcare technology startup with no existing marketing resources and no market presence. Dean was part of the team that supported the launch of our first commercial product by taking the lead in helping us refine our messaging, developed customer-facing collateral and thought leadership content, including a case study and white paper.
Ahead of our first significant tradeshow opportunity, HSC developed and distributed press releases that created significant visibility for us, developed and executed a trade show marketing plan that included coordinated partner marketing activities, and ensured all deadlines were met.
On behalf of HealthLytix, I would like to thank Dean for his diligence and responsiveness towards a successful launch of our first medical device commercial product at RSNA 2018.
