Why Storytelling Matters for Medical Device Companies
Medical device companies need to tell slightly different versions of their stories depending on the intended audience—investors, suppliers, regulators, clinicians, and patients—and each version must be strategically crafted and told in order to convey the right message.
In this episode of the Global Medical Device Podcast Jon Speer talks to Brad Perriello, who previously cofounded MassDevice and now current founder and principal at Circle Hill Life Science Communications, about his unique line of work helping medical device companies learn how to effectively tell their story.
Listen to this episode now to learn what your company can and can't say to different target audiences and how to effectively communicate your company’s core message and story so it positively resonates with the listener.
Some of the highlights of this episode include:
- Brad Perriello, alongside fellow journalist Brian Johnson, founded the online medical device business journal MassDevice based on his belief that small businesses and startups drive everything that lead to the biggest outcomes.
- Although medical device companies know their story best, they do not always effectively tell people their story, what they do, and why they do what they do.
- Startups telling their story is applicable and important to raise funds, but engineers are not strong narrative writers or speakers. They tend to focus too much on details, which can derail the intended message.
- A medical device company’s core message and story is the same, but is communicated differently. For instance, investors want to know the ROI, patients want to know if it’s safe and effective, physicians want to know about safety, efficacy, and cost.
- When hiring outside help with communications, they should be familiar with the medical device industry because the regulatory environment is strictly unique.
- Be aware of quality systems, design controls, and reimbursement issues.
- Some things change over time, and some things never change. Find an unmet need and help patients and others by figuring out what they need to hear. Be able to effectively communicate with all audiences.
- Social media evolves quickly and provides powerful communications tools with massive reach. Companies succeed by having a dedicated team member who knows how to leverage each platform based on the audience.
Memorable quotes from Brad Perriello:
“These folks know their stories really, really well...but they don’t know how to tell them all the time.”
“Through no fault of their own, they’re not really effectively telling people, this is our story, this is what we’re about, and this is why.”
“The old adage is that engineers can’t write.”