A successful marketing and design strategy for a health tech startup should blend patience with agility.
Roy Amara's quote, "We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run," encapsulates a parallel that resonates deeply with the journey of building a marketing and design strategy for health tech startups. And trust me– it’s a whopper of a journey, one best to embark with a playbook in hand.
From my experience, the allure of groundbreaking tech and revolutionary solutions in the startup world can lead to inflated expectations regarding the immediate impact of marketing and design efforts. After investing time and energy into building a viable product, as a startup leader you may anticipate rapid adoption, widespread recognition, and exponential growth within a short timeframe. However, the reality often unfolds quite differently:
Short-Term Overestimation: Startups often fall into the trap of expecting immediate results from new marketing/design technologies or trends. Just as we anticipate quick transformations with new tech, we hope for a rapid uptick in leads and brand recognition with the latest marketing platforms or design tools. However, this overestimation can lead to disappointment and a hasty abandonment of solid strategies that simply need time to mature.
Recently, I attended a marketing panel where a CEO suggested that “3-week long tests” were perfectly sufficient to run a paid media campaign. When I asked how long their sales cycle was, he replied “one day, to a couple weeks.” Friends, if your sales cycle is three to four months long– common in the healthcare and insurance industry– your marketing campaigns cannot be effectively measured in three-week sprints. Be wary when you hear bananas promises such as these. Your industry has unique marketing + sales challenges that need to be addressed strategically.
Long-Term Underestimation: Conversely, the true power of a well-crafted marketing and design strategy, like technology, unfolds over time. Initial metrics may not capture the gradual build-up of brand loyalty, market education, and customer engagement. Underestimating these elements can result in underinvestment in what could become the cornerstone of a health tech company’s sustained growth.
You might be trying lots of different tests right now and seeing mixed results. This may lead you to believe that “marketing doesn’t work,” or “design doesn’t matter.” However when you’re early stage, your tests are impaired by very common hurdles like limited brand awareness, fierce competition, new market category challenges, regulatory complexities, constrained resources, and more.
Building a Balanced Strategy: A successful marketing and design strategy for a health tech startup should blend patience with agility. It’s about laying a foundation with scalable tactics while staying nimble enough to pivot as the market evolves. This approach acknowledges the ‘Amara Paradox’—balancing the excitement for new marketing and design frontiers with the understanding that real growth is a marathon, not a sprint.
In the long run, the seeds planted through consistent branding, targeted messaging, customer engagement, and relationship-building will begin to bear fruit. Slowly but steadily, your startup will gain traction, earn credibility, and establish itself as a trusted player in the industry. Positive word-of-mouth, referrals, and organic growth become invaluable assets, fueling momentum and expansion. At last: a marketing engine is born. We all beam at it with pride.
Sounds pretty great, right? So… how do you get started?
As a CEO, resist the temptation to chase fleeting trends or pursue quick fixes, opting instead for a holistic approach that prioritizes building enduring relationships, fostering trust, and delivering genuine value to customers.
Temper short-term expectations with a steadfast focus on long-term goals
Consider your time and place in the universe as well as your budget; start with an advisory like The Company Advice to get a head start with an expert assessment and a playbook that’ll allow you to hit the ground running. Contact us to learn more.