Integrated solutions are red hot right now. There are two reasons medtech marketing silos make integrated solution marketing impossible:
Marketing silos obscure the big picture
Marketers work in different product areas. They may even work in different business units. Naturally, when they come together to market an integrated solution, they struggle to see above their own silos. They focus on their own products, lose sight of their customers, and can’t provide the full-solution value story. Siloed marketers make a consistent, integrated solution story nearly impossible to create.
Their agencies are siloed
Agencies that are stuck in silos also fail to see above them. If they aren’t accounting for marketing activities beyond their own, they struggle mightily to integrate and align their marketing. They can’t see the horizontal patient journey and multidisciplinary provider workflows.
THE AGENCY OF RECORD (AOR)
The answer is simple, but it takes leadership from the CEO: Standardize with a single agency—an Agency of Record (AOR). An AOR is often defined as “an agency responsible for all the services a particular business might require.” This doesn’t mean they necessarily do 100% of the work, but they direct it and are acutely aware of all of it.
They see the big picture because they understand all the individual pieces. They understand your customers at both macro and micro levels. And, as a result, they align marketing activities, ensure consistency, and establish a communication hierarchy from top to bottom. It’s an approach that brings three immediate benefits:
IMMEDIATE BENEFIT #1
Strategic development improves
An agency that understands your company’s complexities and customers can do amazing things. It can go deep into any silo and horizontally integrate all silos as one. That ability is crucial when it comes to marketing the company and the integrated solutions the company offers.
IMMEDIATE BENEFIT #2
Strategy will stop dying in execution
Market-winning medtech marketing strategies often get completely lost in execution, and it’s easy to see why: The agency that created the integrated solution strategy isn’t given the opportunity to execute it. Instead, in a misguided effort to save money, companies farm the work out to production agencies that don’t fully understand the strategy or the content. The result? The process ends up taking longer, because the agency needs many more rounds to get the work done. This adds additional cost. But the biggest cost of all is that the strategy is so diminished in execution that it becomes ineffective.
IMMEDIATE BENEFIT #3
Waste, overlap, and redundancies are eliminated
The waste that’s brought about by redundant, competing efforts is identified and eliminated overnight. There’s no more costly confusion, rework, or misdirection. There are only purposeful activities that bring your strategy to life in the most compelling—and efficient—ways possible.
Many medtech companies are reorganizing to break down silos. But they’re finding that it’s taking longer than they expected, and it’s jeopardizing their ability to effectively market. Don’t wait for a reorganization to bear fruit. Select an AOR. You’ll be doing more than just integrating within your walls. You’ll be helping to bring integration full circle.