What are the primary objectives of a Go to Market Strategy for Healthcare Technology Companies?
I get asked this question a lot when talking with founders and leadership teams of Healthcare Technology companies and startups and discussion go-to-market strategy (GTM). The biggest thing I tell them to focus on is this: Align your technology or software with the targeted healthcare stakeholder. In healthcare, we have the “4 Ps”: Payer, Provider, Patient and Policy Maker. Each of these stakeholders value different things and face unique problems. Identify that targeted stakeholder and position your tool/software accordingly.
Once you have positioning (“we do X for Y”), everything else falls into place:
- Possible objections
- Pain points
- Back-end needs for customer success & adoption
BUT..It all hinges around understanding who your product serves within the scope of healthcare.
Primary Objectives of a Go-to-Market Strategy for Healthcare Technology Companies
In the rapidly evolving landscape of healthcare technology, it is crucial for companies to have an effective go-to-market (GTM) strategy in place. A well-defined GTM strategy helps organizations identify their target market, position their product or service effectively, and ensure customer success. In this blog post, we will discuss three primary objectives that every healthcare technology company should focus on while developing its GTM strategy.
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1. Aligning Technology with Targeted Healthcare Stakeholders (Positioning)
The first objective in creating a successful go to market strategy for any healthcare software or technology solution is aligning the offering with the targeted healthcare stakeholder(s). In healthcare, there are four main stakeholders – payers, providers, patients and policymakers – each of them valuing different things and facing unique challenges.
To create an impactful GTM plan that addresses these varied needs and priorities, you must first identify which stakeholder group your product or service primarily serves. Doing so will enable you to tailor your messaging accordingly and highlight how your solution addresses specific pain points faced by that particular group.
“Everything about the go-to-market strategy should really be identifying that targeted stakeholder and then positioning the tool or the software to align with the values and problems that that stakeholder…is experiencing.”
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2. Developing Effective Messaging around Positioning
Once you’ve identified your target audience within the scope of healthcare stakeholders – whether it’s payers, providers, patients or policymakers – it’s crucial to develop compelling messaging around how your offering meets their needs.
“So once you have [established] ‘We do X for Y,’ meaning this solution provides this outcome for this stakeholder, then everything else falls into place.”
Essentially, your messaging should convey the value proposition of your offering in a way that resonates with the targeted group. Remember to emphasize how your product or service addresses their specific pain points and aligns with their values.
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3. Addressing Potential Objections and Ensuring Customer Success
An effective GTM strategy goes beyond just identifying target stakeholders and crafting compelling messaging – it also involves anticipating potential objections from prospects, developing strategies to address those concerns, and ensuring customer success post-sales.
“These are the possible objections…This is what we’re going to need on the back end to ensure customer success and uptake and adoption.”
As you develop your GTM plan, consider any challenges or roadblocks that may arise when introducing your offering to healthcare stakeholders. By understanding these obstacles beforehand, you can devise strategies to overcome them during sales conversations or through marketing efforts.
In addition to addressing objections upfront, it’s crucial for healthcare technology companies also focus on delivering exceptional ongoing support even after customers adopt their solutions. Providing superior customer service not only helps retain existing clients but also creates opportunities for upselling additional products/services as well as attracting new business through referrals from satisfied customers.
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Summary
An effective go-to-market strategy for healthcare technology companies hinges upon three primary objectives: aligning the software/tool with targeted stakeholders; developing persuasive messaging around positioning; and addressing potential objections while ensuring customer success. By keeping these objectives at the forefront of your planning process —from initial identification of target audiences all way through post-sale support—you will be better equipped position yourself competitively within industry ultimately achieve business growth success.
What do you think are some key pieces of a go-to-market strategy for healthcare tech companies?
For more content like this, check out our Insights Page and check out The Better Outcomes Show. Or if you want to humanize healthcare through your business or organization, learn how Rehab U Practice Solutions can help here! You can also schedule a call with Rafi to discuss your company’s positioning strategy and brainstorm a business development plan here. Check out Rafi’s latest book, Better Outcomes: A Guide to Humanizing Healthcare, on Amazon!
Rafael E. Salazar II, MHS, OTR/L (Rafi) is the Principal Owner of Rehab U Practice Solutions and the host of The Better Outcomes Show and the author of Better Outcomes: A Guide to Humanizing Healthcare. His career trajectory includes 10+ years of experience in healthcare management, clinical operations, programmatic development, marketing & business development. He even spent some time as an Assistant Professor in a Graduate Program of Occupational Therapy and has served on numerous boards and regulatory committees. He has worked on projects ranging from patient engagement initiatives to marketing communication campaigns to a multi million dollar project assisting the State of Georgia's Department of Behavioral Health and Developmental Disabilities transition individuals out of state institutions to community residences. His work on Telehealth has been discussed in Forbes.
Today, Rafi helps innovative healthcare companies like technology startups, platforms, and SaaS companies develop effective positioning strategy and business development plans through his consulting work. He also leverages his experience as a professor and academic to speak and train on the topics around humanizing the healthcare experience. In addition, Rafi also owns and operates ProActive Rehabilitation & Wellness, a multidisciplinary outpatient clinic treating patients with musculoskeletal pain.
Work With Me
If you are an innovative healthcare company looking to humanize healthcare through direct service delivery, technology, a device, or software, then reach out. We'd love to talk with you about how Rehab U Practice Solutions can help.
What we can help you do:
✅ Clarify your product, service, or organization's positioning...
✅ Identify what is most valuable and least valuable to your targeted healthcare stakeholder...
✅ Develop a Market Penetration Roadmap to align your company's value proposition with your targeted healthcare stakeholder to develop a bottom up marketing strategy...
We help you not only craft your positioning strategy, we help you identify your highest value offer for your target audience, align that value with your market, and help you develop a business development system that leverages insights from market data & industry-specific resources to enable your business development team to effectively drive business for your organization.
In short, we help your whole organization become focused on the most important thing in healthcare: people – the people who work for your organization, and the people who your organization treats or serves.
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