In the MedTech world there is a responsibility – and opportunity – to focus R&D efforts on emerging technologies to propel more home-based care options and alleviate public healthcare resources.
Stroke is the third leading cause of disability in the world and the inability to walk affects nearly a quarter of all stroke survivors. The MedTech industry has introduced us to lower limb exoskeletons – motor-powered, wearable robotic structures that use algorithms to enable stroke survivors to get up and walk. But these have been used solely in clinical settings for rehabilitation thus far – they are insanely expensive, incredibly heavy, and require trained medical assistance to use.
A recent client of mine had a solution – at a fraction of the cost, and a fraction of the weight, this international client has the technology and the means to manufacture a disruptive product that easily powers the affected limb to allow walking… and it’s designed for affordable at-home use.
WOW! Sounds great, right? What’s the hold-up?
In a nutshell – the G2M strategy is lacking. This client’s proposed business model was strictly through social media channels to reach consumers directly, but it wasn’t working. Why? Well, would YOU buy a robot that claimed to make you walk again (if you couldn’t) off a Facebook Ad?
This product is not a “cheap Amazon find” you see on TikTok; it’s a medical device with credible clinical data to support its efficacy and needs to be marketed as such.
Sometimes you can have a great idea, and you think you have it all figured out and you just want to sell, sell, sell… but knowledge, resources, and experienced support are equally as important as time and money when planning out your G2M strategy. And you NEED a systematic and customized G2M strategy no matter how revolutionary your product is.