3 Ways Med Tech Companies Can Make Earned Media Dollars Go Farther

“We want news coverage so people know who we are.”

But awareness among which stakeholders? And what do we want them to do with that information?

For med tech companies who navigate product life cycle news and company growth, earned media is an important tool. After all, consumers still consider it the most trusted source of information.

Here are 3 ways med tech companies can maximize their earned media strategies – and dollars – to grow awareness among the right audiences and at the right times.

  1. Consider trades for milestone or product launch news – Business media, like virtually every newsroom in America, are facing stretched staff and fewer resources. That can often mean less coverage for what is a significant company or product announcement. Consider pitching trades, who are more likely to dedicate more resources (and print space) to tell your story, as opposed to just a few paragraphs deep inside a business outlet. That in depth story from the trade can then be merchandised to shareholders, donors, customers and employees – truly extending its reach.
  2. Put your eggs in a few baskets – Earned media is unpredictable. It’s also an increasingly inefficient way to grow broad awareness. The most effective earned media supports a broader strategy, whether that’s a product launch or corporate announcement. Med tech companies obviously must communicate well within regulatory guidelines, so any omnichannel campaign should be well reviewed before launch.
  3. Relationships are king – The journey of a product lifecycle twists and turns, and even if you aren’t actively pitching outlets for coverage, maintain relationships with key reporters. Keep them updated on your progress. Offer your perspective on latest trends. Stay in touch so when it is the right time to pitch, they already know you and your product.

Earned media is a powerful vehicle, but it is also the most unpredictable. Finding the right way to deploy earned media tactics – and get results for your med tech company – will go a long way in maximizing your PR investment and efforts.

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