The Marketing landscape in Medtech is undergoing a radical transformation. Healthcare professionals (HCPs) are increasingly demanding hyper-personalized experiences. This shift is driven by several converging factors:
To make life easier for HCPs and remove cognitive burden, MedTech organizations need to bring hyper-personalized content which is not only right time, right-channel but also content that is tailored to the HCPs mental model, that’s Hyperpersonalization.
Fueling this trend is the rise of Artificial Intelligence (AI). AI acts as a catalyst for change, driving a shift towards personalized marketing within organizations. Even traditionally cautious and regulated industries like MedTech are now evaluating new ways to meet customer expectations through the power of AI.
As organizations embrace the move towards Hyper-personalization they will experience major busines benefits in the following areas:
By talking with medtech leaders from large and small companies we identified the following key use cases that DAM should enable for organizations to unlock their processes to deliver on Hyper-personalization.
Trust is the cornerstone of the medtech industry. No organization would jeopardize its reputation by sacrificing content compliance, accuracy, and trust in the pursuit of hyper-personalization. However, achieving hyper-personalized content at scale necessitates robust content production capabilities and processes. These processes must guarantee compliance from the outset, freeing medtech organizations to concentrate on the personalization aspect.
Key medtech use cases that support content for Governance and Trust:
Hyper-personalizing content for a niche audience of highly specialized healthcare professionals (HCPs) presents a unique challenge. This audience demands content that is both evidence-based and precisely tailored to their specific needs and educational requirements for your product. Creating this type of content from scratch is significantly expensive to create.
For medtech companies, maximizing content reusability becomes paramount. Modularizing content unlocks the key to hyper-personalization while controlling costs. By leveraging existing, validated content and adapting it for different purposes, you can achieve significant cost savings and improved overall cost-effectiveness. Key medtech use cases that support content Re-usability and Modularity:
Creating hyper-personalized content for HCPs demands a flywheel approach. Illustrating value goes beyond basic engagement metrics. The key lies in unlocking deep insights into the end-to-end content lifecycle and drive optimization improvements throughout whether they are process based or messaging improvements.
Key medtech use cases that support Content Insights an monetization:
Digital Asset Management (DAM) has historically been marketed across industries as a single source of truth for creative teams, facilitating content management and production. However, in the hyper-personalized era in life sciences, DAM for medtech is undergoing a significant transformation, and the need for strong connections between approved content, claims, and DAM is more pressing than ever. It’s evolving into a strategic business enabler by bringing simplicity in managing the complexity of operationalizing hyperpersonalization in these three areas described above.
What we see at Veeva is Marketing in medtech typically thinks with capabilities first vs use cases and that can lead one to lose the forest for the trees. Now more than ever is the time for the Marketing organization to go after a customer-led North-Star as Hyperpersonalization, and re-think its content operations to drive customer engagement outcomes that are contextual, empathetic, and personalized.
Request a demo of Veeva PromoMats for Medtech to learn more about Data Asset Management.
(1)What to expect from medtech in 2024 (McKinsey)
(2)10 Data Trends show how pharma can work effectively with increasingly overburdened doctors