The economy of advertising is changing drastically as the medical device industry continues to become more crowded with advertisers. With this we are starting to see a new trust based economy that is developing, as advertisement effectiveness decreases. While this may be negatively affecting advertising agencies, the growth of organic content is proving that humans are more attracted more genuine content. This highlights the importance of articles and value of quality content, as content consumers are desiring to take control of their own buying journeys.
When it comes to marketing and public relations in the medical device industry, there are many different streams one can utilize. Press releases are the most commonly used public relations tool in PR campaigns. Some benefits and value that press releases offer are:
- Affordable cost in comparison to other forms of online advertising like pay-per-click (PPC)
- Authenticity boosts with target audiences
- Visibility of your brand in the media
- Brand recognition and reputation improve
- Search engine optimization benefits
- Newsworthy stories and social proof opportunities
- Used as resources for journalist in the medical device industry
There are many companies in the medical device industry who do not realize that their day-to-day activities are newsworthy and could help drive business. In fact, there are a variety of medical device companies that do not take advantage of the power of press releases, and therefore are closing off potential business opportunities. Within the walls of both start-ups and well established medical device companies, innovation, growth and breakthroughs are happening everywhere, but most do not understand what specific business activities to share or even how to share them. This is where agencies like Icovy come in. At Icovy, it is our responsibility to help you through the entire process, from identifying newsworthy opportunities and then helping craft them into educational, informative and engaging stories.
Different Approaches to Medical Device Press Releases
Press releases are similar to social media in some facets as there are some standards you should abide by, but there are endless options of what you can share with your audience. You want to ensure that your press release content is relevant, and precise so it has high changes of engagement. There are a variety of topics that you could choose from such as, new product launch, new market entry, partnerships, new hires. Here are a couple additional ideas to get you started.
- Initial prototyping or device testing
- FDA approval
- New website launch
- Partnership formations
- Product documentation updates
- New market entrance
- New hires for market entries
- Advancements in technology
- Training Programs
- Educational activities and initiatives
- Facility expansions
- Funding or investments raised
- Device turning points and achieved milestones
- Visits with political leaders
Understanding Current Events and Making the Connection
Staying up to date with current events is always an effective way to add emphasis to your press releases and topic choices. An effective tactic is to connect your press releases with current events happening in the world, to help increase awareness and engagement. Some topics to relate your articles to are:
- Healthcare Disparities
- Developing countries point of care
- Healthcare cost and affordability policies
- Durable Medical Equipment Use
- Obesity statistics
- Disease control
Writing informative press releases is a great way to connect with your audience, especially when you are addressing industry difficulties and affairs while discussing how your company is addressing it. The most important part of press releases is to make sure that they provide value, are informative, engaging, but most of all honest. We recommend only including factual and relevant information.
If you believe your company is in need of identifying newsworthy stories, or just needs assistance to develop and distribute press releases, Icovy can help. Contact us and speak with one of our PR specialists today!