I have always enjoyed reading what David Cassak, Editor-in-Chief of The MedTech Strategist, has to say about medical devices and innovation. Recently, I participated in a column written by David that was published in the April 13th issue of The MedTech Strategist. Enjoy, Bob
The argument that digital health proponents often make as to why they healthcare industry needs to step up its game – and quickly – when it comes to digital technologies is simply that if the whole work is incorporating digital technology into its day-today existence, how can healthcare not follow along? If virtually everyone on the planet has made smart phones and similar devices integral to every day functions, healthcare can’t help but become part of the phenomenon.
Can a similar argument be made for Social Media? If Facebook and Twitter have become major media of communication, shouldn’t healthcare companies find a way to incorporate those channels into their communications efforts as well? As the accompanying chart suggests, medial device companies – to take just one segment of the healthcare industry – lag far behind consumer and tech companies in their use of Social Media sites like Twitter and Facebook and generate dramatically fewer hits on Google and YouTube (See Figure 1). To be fair, more and more device companies are incorporating Social Media into a broader strategy that embraces a direct-to-consumer approach. Companies like sleep apnea specialist ResMed Inc., for example, diabetes company Dexcom Inc. or cold-therapy company MyoScience Inc. are not only aggressively using Social Media, they’re bringing on staff marketing folks who specialize in the media (See, “MysoScience: The Promise of Cold Therapy,” The MedTech Strategist, February 27, 2015)
But effectively using Social Media isn’t simply a matter of racking up the most “likes” or hits. Bob Pearson, president and CIO of W2O Group, an integrated marketing agency powered by analytics, notes that all B2B and B2C populations follow what he calls “the 1, 9, 90 model” – i.e., “less than 1% of a population creates content, approximately 9% shares or moves content and 90% lurks and learns and benefits, via search mainly.” And he notes that device company customers – namely, hospitals and physicians – “are online, learning from each other today,” making it incumbent on medtech companies to begin to understand the 1% and 9% who create or share content “well enough to understand what [those customers] desire/need/ask about.” He says, “Patients, payors and other parties are often following each other and are learning form their communities.” More, he notes, providers aren’t just following providers. Thus the critical question Pearson poses is “What is the social media network that is shaping the market’s perception of a given device?”
Pearson insists that “it’s not all that important how many Facebook ‘likes’ a device company has.” That’s a nice metric, but largely irrelevant, he says. Rather, more important is whether device companies have “defined the exact audience that is shaping the market’s perception and activity related to a disorder or disease, a device or your company.”
Indeed, he says that while device companies are amazing at understanding which physicians are most important, how to train them and build relationships, nearly all such activities today are done in person and offline. “That same experience should continue online,” Pearson says.
But device companies can’t make customers and other influencers come to them. They “must become expert at Audience Architecture to identify, build and interact with their audiences in a highly engaging/content driven relationship.” In short, rather than just chasing “likes” or followers on any given social media channel, it’s about understanding your audience and how they’re participating in social media in all of its ramifications, and in particular, how that audience perceives and understands individual medical devices.