As a follow-up to my previous introductory blog post on reinforcing the buying decision, a key customer group which is essential to focus this effort on during your products initial introduction is key opinion leader (KOLs) you have worked with during the development and initial clinical and/or animal studies with your technology. Support from this group during the early commercialization period of your product or technology will be vital towards achieving near-term (and long term) success. Unfortunately, some companies fail to fully engage their KOLs on an on-going basis as regulatory approval initiatives drag on or other operational distractions required for product commercialization become priorities. Identifying opportunities for maintaining a dialogue with KOLs during both the pre-launch and post-launch period, and identifying projects which they can be involved with during the same time periods, will insure they remain engaged with you and your efforts, reinforcing their support for your technology.
Obtaining feedback and involving your KOLs as you develop your market introduction strategy are excellent options for keeping them engaged in your efforts. Having them provide input on market factors, potential competitive threats and involving them as a part of round table discussions with other key opinion leaders as you present your plans for approaching your targeted markets are all opportunities for KOLs to continue to be involved with activities which reinforce their acceptance of your product. Additional options include involving KOLs in the development of abstract submissions, manuscripts and white papers which communicate the results of clinical studies which your technology or concepts which support its role in the marketplace. The early identification of opportunities for potential presentation of information relevant to your technology during scientific meetings being held while you are focusing on pre-launch and early post-launch activities also represent opportunities for involving KOLs in order to continue to engage them in your efforts.
The above strategies will help enhance your relationships with current KOLs while also reinforcing with them that their support for your technology is important and appreciated by your company. This in turn reinforces their decision to both support and utilize your technology.
Check out our White Papers
Medical Technology Insights is an ongoing series of white papers developed by The Atticus Group addressing key topics of interest to companies developing and commercializing novel medical technologies.
Volume 1, Number 1 – October 2016
Avoiding a False Start: Marketing Tips for the Successful Commercialization of Novel Medical Devices
A failed product launch can be disastrous, both financially and to the reputation of the brand. The development and timely execution of a comprehensive strategic launch plan is required for the successful commercialization of new medical technologies. In this paper we review four areas where advanced planning by marketing individuals can assist with a successful product launch.
Volume 1, Number 2 – January 2017
Predicting the Future: Forecasting Initial Product Demand and Sales Revenue for Novel Medical Device Technologies
Sales forecasting for new medical technologies is both an art and a science. This paper reviews the benefits of developing a spreadsheet-based forecasting model and how various market factors and company-related parameters can influence forecasting for sales revenue and initial product build.
