Social Media in the Medical Device Industry

I’ve noticed recently article after article with lists of trends.  There are trends for practically everything now, much, I believe, instigated by Twitter and Facebook, and the multitude of web 2.0 analytics sites (e.g. Trendrr.com) that have sprouted.   These tools are the nascent building blocks, which will inspire companies in a broad set of industries to dip their toes into the foray in a big way.

Just as with many other technologies before, social media is going through its various stages of adoption and change.  It is right around now, that companies are beginning to “pilot” and “test” these tools.  Many times it is by one or two techno-evangelists within the sales and marketing organizations that will push this forward in a very controlled, “skunkworks” way.  I think the time is NOW for medical device businesses to sincerely consider making calculated investments in this space and here’s why:

1) The center of gravity of the primary decision maker being the surgeon is shifting due to US Healthcare Reform.  Yes, the surgeon plays a significant and important role in the selection of what device is utilized in his or her practice.  Of course.  I don’t believe nor suggest that will discontinue, however, the reality is, assuming things continue to move forward towards reform, providers will have more influence than ever before.  Manufacturers will need to rethink how best to strengthen existing relationships and how to develop and sustain new ones.

2) Patients and health information seekers are turning more and more to the web for information about procedures and product.  This has been a trend for sometime and will continue to grow.  So what?  Well, if you look at sites like WebMD and BabyCenter.com, they played into the fact patients like to share their experiences and listen or read others’ stories.  Social Media has turned this on its head.  For example, depending on the number of people you follow or follow you on Twitter, that great or poor experience can and may be known by thousands with a click of a button.  Share of voice is no longer limited to just those that happened to register on that same website.

3) Social Media is Social Intelligence.  I submit that any sales or marketing professional in the med device industry that is not using any of these tools is already behind and is loosing opportunity like sand through their fingers.  If you don’t believe me, just look at the video below to see the impact that Social Media has had to-date.

Video – Social Media Revolution