Crafting a Standout Message—Why Communication Strategy is Key for Healthcare Start-ups
For early-stage healthcare founders in women’s health and healthtech, an innovative product is just the start.
What can set your company apart—and determine whether it succeeds—is how effectively you communicate its value.
Well-researched communication strategies not only ensure your message stands out but also help build trust with investors, customers, and partners.
In this post, we’ll unpack the importance of these strategies and provide practical tips on how to craft them.
The Importance of Market Positioning in the Dynamic Healthcare Industry
In healthcare, competition is fierce and innovation moves fast. This means that positioning your product effectively is paramount.
Market positioning isn’t just about what your product does—it's about defining why it matters in a specific context.
A well-defined position not only differentiates you from competitors but also highlights the real-world impact of your solution.
For example, a start-up that offers a non-invasive fertility monitoring solution could position itself as the go-to for women who seek a user-friendly, home-based alternative to traditional clinic treatments.
Irrespective of what you want to sell, your position should emphasize the product’s clinical benefits and how it will empower the end user.
Tip
Begin by conducting a competitive analysis to understand the competitive landscape. Use that analysis to build a unique value proposition (UVP) that is simple and compelling.
If you can articulate why your start-up solves a specific problem better than anyone else, you’re halfway there.
Understanding Customer Personas—What Does Your Audience Care About?
One of the most common mistakes healthcare start-ups make is failing to tailor their communications to different audiences.
Investors, healthcare professionals, and consumers each have different needs and priorities. So it makes sense that awareness of these nuances will help you craft messages that resonate with each group.
Investors
The healthcare industry is now the fifth largest sector for venture capital (VC) investment.
Investors care about scalability, profitability, and ROI. They want to know the size of the market, the business potential, and how you plan to grow.
Purpose-driven companies and those that seek to bring innovation to healthcare data and analytics are also attractive to VC firms.
Healthcare providers
Healthcare providers need to see how your product fits into clinical workflows and improves patient outcomes. They’re often concerned with safety, efficacy, and how easily your solution integrates into current practices.
Patients and consumers
This audience wants products that are easy to use, safe, and directly address their health concerns.
If your product is in women’s health, ensure that your message emphasizes how it addresses specific needs such as comfort, convenience, and privacy.
Tip
Develop customer personas to better understand what drives each group. Think of a customer persona as an archetype that represents a specific segment of your audience (and who is a perfect fit for your solution).
A well-researched persona allows you to speak to audience pain points, motivations, and expectations. This, in turn, increases engagement and trust.
Research conducted by McKinsey showed that personalized marketing communication and experiences:
Increased revenue by 5-15%.
Increased marketing ROI by 10-30%, and
Reduced customer acquisition costs by as much as 50%.
Developing a Compelling Pitch—Simplicity is Paramount
Whether you’re pitching to investors or introducing your product to customers, your message needs to be simple and compelling.
The best pitches are concise, identify a clear problem, and present your product or service as the best solution. Remember that they must also be tailored to the audience.
Investors
Investors want to know how your start-up will grow, so focus on financial viability, market size, and potential returns. Make your case with data: show projections and explain how your product solves a real problem.
Make sure the relevant data are mentioned early and easy to understand for different stakeholders. Communicate the effectiveness of your health solution and emphasize its business case.
Is the problem sufficiently widespread to be profitable?
Healthcare providers
Healthcare providers, as we noted earlier, look for clinical efficacy, patient outcomes, and integration potential.
If your product reduces time in clinical workflows or improves patient recovery or care delivery, emphasize those benefits in concrete terms. Providers need to see how it adds value without increasing their workload.
Consumers
Consumer pitches should focus on how the product improves their lives via ease of use, safety, and effectiveness.
Testimonials and user stories can make your pitch more relatable and trustworthy, but only when they’re authentic.
The best user stories address common pain points, showcase the specific benefits and paint a picture of how life could be better with the solution.
Communication is the Key to Growth
A strong communication strategy is crucial for standing out in the crowded health marketplace.
To start, clearly define your target audience and understand your customer personas. Spend the time to tailor your message to different audiences and, in the process, maximize the odds that it will resonate with each.
At ABIG Health, we specialize in helping early-stage healthcare and healthtech startups craft compelling messages that drive growth.
Whether you need assistance navigating the complex U.S. healthcare market or developing a pitch that drives sales, we’re here to help you communicate your vision and achieve your goals.
References
https://dealroom.co/blog/the-top-vc-investors-in-healthtech
https://www.forbes.com/sites/saibala/2023/12/29/vcs-are-becoming-hyper-focused-on-a-multibillion-dollar-opportunity-healthcare-data/
https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-personalization#/
