PM360 April 2010

MEDICAL DEVICE MARKETING

How Well Do Engineers Market Their Medical Device Company? TERI MOTHERAL

The secret to long-term success for a medical device company is how its Marketing and Research & Development organizations function together. In many small to midsize medical device companies, the CEO is often the engineer who developed the initial successful product and founded the company.

Other engineers are frequently hired to fill senior-level positions, and this can result in a company predominantly managed by engineers, which enjoys all the practical benefits of this common technical specialty but also is limited by the inherent shortcomings of such a “hard-edged” focus. Other midsize to larger medical device companies typically employ CEOs with diverse business backgrounds; however a large emphasis remains on innovation driven by engineers. This is particularly noteworthy when such a company is ready to take a new or existing product into the sometimes less-quantifiable—and certainly less familiar—realm of the medical device marketplace. The correct environment and attitudes must be maintained for engineer executives and marketing professionals to harmoniously co-exist—and for a marketer to be a successful leader.

An Essential Function
The highest levels within the company should understand the role of marketing and appreciate how this essential function interfaces with the organization. Marketing encompasses many
disciplines—from the more quantifiable to the more creative: market intelligence, product marketing, business development and communications. There are also many “hard” and “soft” skills: such as pricing and profitability, marketing mix, knowledge of international customs and regulatory requirements. Product Marketing is the axis linking all the functional areas involved in product development; therefore, the leaders of the company must have a solid understanding of the amalgamation of skills that comprise the profession of marketing for the product marketer to be able to contribute significantly to product acceptance and thus continued growth.

Product development is deadline and milestone driven. To successfully perform within the framework of time-sensitive, staged progress, a true understanding of the linkages between all functional groups involved in the development of a product is of utmost importance. If the members of the team cannot detail these linkages—and properly detail marketing’s involvement—then the environment is not likely to yield the optimal product or the optimal environment for a marketer.

Leading by Influence
If the environment detailed above does exist, then top-notch product marketers may lead by influence. Marketers often head cross-functional development teams, but without solid or dotted-line relationships within these teams. Given the size and dynamics of such teams, the marketer must possess the ability to efficiently and effectively communicate across specialties and strata in order to influence the actions and progress of these groups. This varied scope and diplomatic emphasis is what distinguishes professionals in the field.

A-level marketers communicate differently to different audiences. Engineers may not readily joke in a working context, preferring instead statements supported by solid facts and plans that adhere to a clear timeline. A marketing executive must have the time to schmooze with the sales organization, to meet with and listen to customers, and to have educated discussion on various aspects of the company’s products, all while maintaining an entertaining, sociable demeanor. A marketing leader must feel comfortable talking shop with the highest-level key opinion leader, know which information should be proffered while conducting a call with the FDA, and what level of detail to share with the company’s Board of Directors. Success is unlikely without strong inter- and intra-personal communication skills.

Marketing and R&D are essential to the long-term success of a medical device company. They are two halves of a whole, using their complementary skill sets to successfully bring products to market. A friendly, respectful tension between these groups brings about innovation while a disturbance in the balance between the groups results in delays and poor outcomes for the company.

Teri Motheral is Director of Marketing at CaridianBCT. She has worked in medical device marketing for over 16 years. She can be reached at teri.motheral@caridianbct.com