Given my background in journalism and creating media content, we spent an ample amount of time on the marketing and advertising and how companies invest in promotion for products that they are sending out to market. For example, on the channel, TVLand, viewers are more likely to see medical devices made for diabetes or high cholesterol directed for an older market.
Do you believe that different companies in biotechnology and medical device development place digital marketing/advertising on select channels where they feel different demographic markets may be deem them more necessary? Why or why not?
Something interesting that some medical device companies are doing is marketing directly to the patient. While most sales and marketing efforts are done towards clinicians, surgeons, and hospitals, speaking directly to the patient is a different matter entirely. Patients are being directly educated on what's new in medical technology. This is a really effective strategy because it can implicitly force clinicians to become aware of and even adopt this new technology in practice. Since patients are being educated on this new product, they'll believe that they can be better treated if that product is used. They'll more than likely start searching for doctors who use this technology and go to them, forcing other clinicians to use it as well, driving up sales.
I think that the marketing thinks a lot about where customers are going to be spending their free time and target their advertisements there. It also depends on the product. Medical devices companies are not going to put advertisements about new technologies in orthopedic implants in Instagram or Snapchat for example. This is because people who use those specific social media sites are not within the typical age range of getting orthopedic surgery. People who do fit that criteria are more likely to watch TV and, more recently, socialize on Facebook. That is where marketing teams are going to target. Crowds who would not be affected by the product are not worth the time, energy, and money it would take to advertise to them. Marketing teams need to know their audience and make a campaign that targets them directly.
In a business perspective, I believe that a company should consider run their advertisements based on the general demographic of a specific channel. For example, advertisements for toys or games could be run on channels that typically have more younger audience viewing such as Nickelodeon and Cartoon Network. Given this example, it makes sense that the advertisements run in this manner would be more effective in gaining reputation and recognition in their targeted audience. However, the issue might also bring up questions like why would a medical device company or such run ads to a general consumer rather than pitching to the medical distributor of that region. Most of the time, medical devices and drugs are not obtained from warehouse to consumer but rather from an authorized source (doctor, hospital, clinic, etc.), so even if ads targeting a specific base was successful, they would not have control of if they receive that treatment or specific product (which is based off the medical professional's decision/recommendation).
In the world of marketing medical devices, it's like navigating a constantly shifting terrain. Lately, there's been this interesting move to directly educate patients about cutting-edge technologies. It's empowering; patients are becoming involved about their healthcare options. But here's the thing, how do we make sure that while we're empowering patients, we're not sidelining the crucial role of healthcare professionals in making informed decisions?
Then there's this insightful talk about tailoring ads to specific demographics. With the way social media and tech are booming, are we accurately predicting where our audience will be next? Trends and even cultural shifts are always occurring.
And let’s not forget the age-old debate: Should we be wooing the general consumer or cozying up to the medical distributors? Wooing the general consumer can be effective for creating awareness, fostering a patient-centric approach, and building brand recognition. On the other hand, cozying up to medical distributors is crucial for navigating regulatory landscapes, leveraging professional endorsements, and managing complex sales processes.
It's not just about ads; it's about understanding the pulse of patient empowerment, the shifting sands of media consumption, and the delicate dance between creating awareness and respecting the expertise of healthcare professionals.
It's a question where the answer really has to balance on.
I believe that medical device development industries use targeted digital marketing strategies of advertising on select channels to reach a target demographic/audience. By doing so, companies can tailor to the needs of the specific demographic and promote their products to them. Additionally, advertising to specific channels saves companies much money as it is cost-effective. By only spending their time, money, and resources on specific channels, companies are able to reach their target audience at a fraction of the cost. Moreover, consumers nowadays expect personalized content that is relevant to them. Through this specific digital marketing, companies are able to provide relevant advertisements to specific consumers. Lastly, the medical device industry is highly competitive and by having targeted digital marketing, companies are able to differentiate themselves from some of the other companies in the industry and establish their products to a specific audience.
I believe the method of marketing and advertising depends on the medical device being marketed. Some devices/drugs have a much broader demographic, so selective marketing may not be needed in order to reach the target consumers. For instance, diabetes affects a very broad demographic, from young children to the elderly. Thus, selective marketing is probably not needed for the device to reach its target audience. However, devices that focus on diseases that affect more specific demographics definitely use targeted advertisements. For instance, if a company produces medical walkers, it would most likely target an older demographic because a much higher proportion of individuals use walkers at an older age. However, at what point do you believe the costs of targeted advertising outweigh the benefits? Do you think you can reach most demographics with just normal marketing strategies?
From my perspective, while I don't have a background in journalism or creating media content, I've observed the trends in marketing and advertising across various channels. It's evident that companies, especially in the biotechnology and medical device sectors, strategically place their digital marketing and advertising efforts on select channels to target specific demographics. For instance, channels like Disney, Nick, and Freeform cater to younger audiences, and it would be less effective for companies to advertise medical devices for conditions like diabetes or high cholesterol there. On the other hand, channels like TVLand, which cater to an older demographic, are more apt for such advertisements. However, I do believe it's nearly impossible for companies to exclusively target their ads to one specific group of people, given the diverse viewership of many channels. While channels might have a primary target demographic, they still attract a wide range of viewers. This is especially true for news channels, which are watched by all age groups. Ads on such platforms should be more generalized to cater to a broader audience. Addressing the point on racial targeting, channels like BET, which primarily cater to a Black audience, do present an opportunity for companies to tailor their ads. However, it's essential for these companies to approach this with sensitivity and authenticity, ensuring that the content is both relevant and respectful. It's not just about targeting a demographic but understanding their unique needs and cultural nuances. In conclusion, while targeted advertising can be effective, companies must strike a balance to ensure they are reaching the right audience without being overly narrow or potentially alienating.