GenAI in MedTech Marketing: Less Hype, More Results. See How.

Welcome to the new frontier of MedTech marketing, where GenAI is rewriting the rules of engagement. Recent surveys have shown that while about a quarter of companies across various sectors have already created value from GenAI, but from what I'm seeing, not many MedTech companies can say the same. Many are still figuring out how to leverage AI effectively.

The ones that do take advantage of GenAI, see amazing results. I've seen MedTech companies getting dramatic improvements in marketing performance coupled with significant cost reductions. We're talking about gross cost savings of up to 90% on text assets and a 4-5x increase in the speed of asset generation.

The Three Phases of GenAI in MedTech Marketing

Before we get into the actionable stuff, I think it's crucial to understand the three phases of GenAI maturity in marketing. This framework will help you gauge where you are and where you need to go.

Phase #1: Adopt.

The first phase is what we call "Adopt." This is the entry-level phase where you're just trying GenAI. You're using off-the-shelf GenAI tools or existing GenAI-embedded tools for simple marketing tasks. Think AI-generated campaign briefs or multi-variate headline copy for search ads. It's a great starting point, and I've seen companies typically yield efficiency gains of about 20% in this phase. Not bad for a start, right?

Phase #2: Transform.

In the second phase is "Transform," you're not just using point solutions anymore. You're transforming entire processes end-to-end. I've worked with MedTech companies in this phase, and we're talking about improvements of about 50% or so in efficiency, speed, and ROI. This might involve developing creative assets from brief to deployment, all powered by GenAI. It's a significant step up from the Adopt phase and requires a more comprehensive strategy.

Phase #3: Pioneer.

The third and final phase is what we call "Pioneer." This is the frontier of GenAI in marketing. It's about developing entirely new revenue sources or customer experiences using GenAI. While we're seeing some exciting examples in consumer segments, I have to be honest, it's a longer-term play for most MedTech companies due to regulatory challenges. But that doesn't mean we shouldn't be thinking about it and preparing for it.

Now that you understand these phases, let me explain how you can start leveraging GenAI for MedTech marketing.

1. Identify High-Impact Use Cases for GenAI in MedTech Marketing.

The first step is to identify where it can make the biggest impact in your marketing operations. In my experience, there are several areas where GenAI can really help MedTech marketers.

Content creation is a big one. GenAI can significantly speed up the creation of marketing copy, social media posts, and even visual assets. At Fello, we've seen how this can dramatically reduce the time it takes to launch marketing campaigns and adapt assets to local needs. I remember working with a client who was struggling to keep up with content demands across multiple markets. We implemented a GenAI solution that allowed them to generate localized content in a fraction of the time it used to take. As a result, they were able to increase their content output by about 400% without increasing their team size.

Personalization is another area where GenAI can make a huge difference. It can analyze vast amounts of data to create hyper-personalized messaging for different segments of healthcare professionals or patients. I've seen medical technology companies use this to tailor their communications so precisely that their engagement rates literally skyrocketed. One of our clients saw a 40% increase in email open rates after implementing GenAI-driven personalization.

Market research is yet another field where GenAI can be incredibly powerful. You can use it to analyze trends, competitor strategies, and customer feedback at scale, providing deeper insights faster than traditional methods. I remember a project where we used GenAI to analyze thousands of customer reviews and social media posts. We uncovered insights about product usage and pain points that the client had never realized before. This led to a substantial revamp of their marketing strategy, focusing on benefits they hadn't previously emphasized.

Marketing campaign optimization is another one. You can leverage it to continuously analyze marketing campaign performance and suggest real-time optimizations. I've seen this lead to significant improvements in campaign ROI. One of our clients was able to reduce their cost per lead by 30% by implementing GenAI-driven campaign optimization.

Lastly, don't overlook the potential of GenAI in the MLR (Medical, Legal, Regulatory) review process. This is a huge pain point for many MedTech companies. GenAI tools can assist in this process, potentially speeding up approvals while maintaining compliance.

To get started, I recommend conducting a thorough audit of your current marketing processes. Look for bottlenecks, time-consuming tasks, and areas where personalization or deeper insights could drive better results. From there, prioritize 3-5 use cases that align with your strategic goals and have the potential for significant impact. Remember, it's not about implementing GenAI everywhere at once. It's about finding those high-impact areas where you can really move the needle.

2. Build a Solid Business Case for GenAI in Marketing.

Once you've identified potential use cases, you want to build a solid business case. You don't want to just jump on the AI bandwagon. You want to drive real value for your company. I've seen too many companies rush into AI implementations without a clear understanding of the potential return on investment. Don't make that mistake!

You want to quantify the potential impact. Estimate the time and cost savings, as well as the potential increase in marketing effectiveness. Be conservative in your estimates though! I always advise my clients to underestimate the benefits and overestimate the costs. It's better to over-deliver than to set unrealistic expectations.

Factor in the costs of GenAI tools, potential infrastructure upgrades, and training for your team. Don't forget about ongoing costs. Those LLM calls don't come cheap, especially if you're using large context windows and the most powerful AI models. I've seen companies get caught off guard by these ongoing expenses, so make sure you account for them in your business case.

Risk assessment is another crucial component of your business case. Evaluate potential risks, including data privacy concerns, regulatory compliance issues, and the need for human oversight. In the MedTech industry, these are particularly important. I always tell my clients that while GenAI can greatly enhance our capabilities, it doesn't replace the need for human judgment, especially when it comes to regulatory compliance.

Finally, create a clear ROI projection that accounts for both short-term gains and long-term strategic benefits. I find it helpful to break this down into phases, aligned with the Adopt, Transform, and Pioneer stages we discussed earlier.

I recommend developing a comprehensive business case document for your top 2-3 GenAI use cases. Include clear KPIs that you'll use to measure success. Present this to your leadership team to secure buy-in and resources. In my experience, a well-prepared business case can make all the difference in getting approval for GenAI initiatives.

3. Start with Pilot GenAI-Driven Marketing Projects.

Before going all-in on GenAI, we always advise our clients to start with pilot projects. This approach allows you to test the waters and refine your approach before making a larger commitment. It's a strategy that has served us well over the years.

When choosing a pilot project, I recommend selecting one or two use cases to start with. Make sure they're significant enough to demonstrate value but contained enough to manage risks. For example, you might start with using GenAI for content creation in a specific product line or market segment.

Define what success looks like for each pilot. This could be a certain percentage of time saved, cost reduced, or improvement in marketing metrics. We worked with a client who set a goal of reducing content creation time by 30% in their pilot. They ended up achieving a 50% reduction, which made it much easier to get buy-in for a broader rollout.

I've found that assembling a cross-functional team is key to the success of GenAI pilots. Include people from marketing, IT, legal, and any other relevant departments. This diverse team can help identify potential issues and use cases.

Choosing the right tools is another critical factor. Research and select GenAI tools that best fit your specific use case and integrate well with your existing tech stack. Don't be afraid to try out a few different options during your pilot phase. I've seen MedTech companies completely change their tool selection based on pilot results, and that's okay. That's what pilots are for.

Establish a clear timeline for your pilot, including milestones. I typically recommend a 3-6 month pilot period, depending on the complexity of the use case. This gives you enough time to gather meaningful data without dragging the process out too long.

Document everything! Successes, challenges, unexpected outcomes. This data will help you refine your approach and build a case for broader implementation. I can't stress enough how valuable this documentation will be as you move forward with your marketing strategy.

4. Develop a GenAI Playbook for MedTech Marketers.

As you move from pilot to broader implementation, you'll want to have a clear GenAI marketing playbook.

Document best practices for:

• prompt engineering

• data preparation

• output validation

These are areas where I've seen many companies struggle, so having clear guidelines can save you a lot of headaches down the road. For example, for one of our clients we created a detailed guide on how to craft effective prompts for their AI tools. This dramatically improved the quality of the outputs and reduced the need for human editing.

Ethical guidelines should be a key component of your playbook. Establish clear guidelines for ethical use of GenAI, including data privacy, bias mitigation, and transparency. In the MedTech industry, these considerations are particularly important. I always advise my clients to err on the side of caution when it comes to ethical considerations. It's better to be overly cautious than to risk damaging your brand's reputation or going against regulations.

Don't forget about training. Develop a comprehensive training program to ensure your team can effectively use GenAI tools. With current AI tools, I think it's less about technical skills, but more about developing critical thinking skills. We've found that hands-on workshops and real-world scenario training are particularly effective.

5. Transform Your MedTech Marketing Processes.

Once you've successfully piloted GenAI and developed a playbook, it's time to think bigger. This is where we move into the "Transform" phase, fundamentally transforming how we approach MedTech marketing. This is where I've seen companies achieve truly transformative results.

One of the most impactful areas for reshaping is end-to-end asset creation. Implement a GenAI-powered process for creating marketing assets, from initial brief to final deployment. This could include automated brief generation based on market insights, GenAI-powered copywriting and image creation, AI-assisted MLR review, and automated deployment and performance tracking.

One of our clients implemented such a system, and the results were staggering. They reduced their time-to-market for new marketing campaigns by 50%, while also improving the consistency and compliance of their messaging across markets. The key was to carefully map out each step of the process and identify where GenAI could add the most value.

Dynamic personalization is another area where GenAI can reshape your marketing processes. Use GenAI to create truly personalized experiences for healthcare professionals and patients. This could involve real-time content adaptation based on user behavior, personalized email sequences, and dynamic website content that changes based on user profiles.

One of the MedTech companies we work with implemented a GenAI-driven personalization system for their email marketing. They saw open rates increase by 38% and click-through rates double.

Predictive analytics is super powerful when it comes to reshaping marketing processes. Leverage GenAI to not just analyze past performance, but to predict future trends and outcomes. Use these insights to proactively adjust your marketing strategies. Soon, (with enough data of course) companies will be able to accurately predict which healthcare providers are most likely to adopt a new medical device. This will allow them to focus their marketing efforts more effectively.

I recommend choosing one marketing process to completely redesign using GenAI. Map out the current process, then reimagine it with GenAI at its core. Implement this new process and closely monitor the results. Iterate and refine as you learn what works best for you.

6. Address the Human Element.

As we've seen at Fello Agency, successful implementation of GenAI in MedTech marketing isn't just about the technology – it's about people. In fact, I'd argue that the human element is the most critical factor in the success of any GenAI initiative, especially in an industry as specialized and regulated as medical technology.

You'll need a comprehensive change management plan tailored to the unique challenges of MedTech marketers. If all you're worried about is the technical side of GenAI, don’t be shocked when your marketing team ain’t too happy about it. In MedTech marketing, this resistance often stems from concerns about maintaining scientific accuracy and regulatory compliance. You need to address these fears. Be transparent about how GenAI will change people's roles and responsibilities, particularly in areas like content creation, regulatory review, and HCP engagement strategies.

I remember working with a MedTech marketing team that was initially very resistant to GenAI. They were concerned that AI-generated content wouldn't meet the high standards required for medical device marketing. We organized a series of workshops where we showed how GenAI could assist in creating first drafts of technical content, which could then be refined and verified by subject matter experts. We showed them how the AI could be trained on their own approved materials to ensure consistency with brand voice and regulatory requirements. By the end of the process, they were excited about the possibilities. The key was involving them in the process and showing them how GenAI could enhance their work, not replace their expertise.

I always advise my clients to create a comprehensive training program that covers both the technical aspects of using GenAI tools and the soft skills needed to work effectively alongside AI in a regulated industry. For example, developing a training module on how to effectively prompt GenAI systems to generate content that aligns with specific regulatory guidelines, such as those set by the FDA for medical device marketing.

As GenAI takes over more routine tasks, you'll need to redefine roles to focus on higher-value activities that are particularly important in MedTech marketing. For example, developing innovative strategies for educating healthcare providers about complex new technologies, crafting nuanced value propositions for different stakeholders in the healthcare system, or finding creative ways to demonstrate the long-term benefits of medical devices. I've seen many MedTech marketers transition from spending most of their time on content creation to focusing on developing sophisticated market access strategies and deepening relationships with key opinion leaders in various medical specialties.

To get started, I suggest conducting a skills assessment of your MedTech marketing team, focusing on areas where GenAI can have the biggest impact. This might include regulatory writing, clinical data interpretation, or personalized HCP engagement strategies. Identify gaps and develop a training plan to address them.

7. Ensure Responsible GenAI Practices.

In the MedTech industry, responsible use of AI is not just an ethical imperative – it's a regulatory necessity. I can't stress enough how important this is. You're dealing with sensitive health information and making claims about medical products. There's no room for error.

Data privacy should be at the top of your priority list. Implement robust data protection measures. Ensure that any data used to train or fuel GenAI systems is properly anonymized and compliant with regulations like GDPR and HIPAA. I've worked with companies that create separate, sanitized datasets specifically for use with their GenAI systems to ensure they never risk exposing sensitive information.

Bias mitigation is another critical area. Regularly audit your GenAI systems for potential AI biases, especially in language and image generation. Implement processes to identify and correct these biases. I've seen medical technology companies create review panels to check GenAI outputs for unintended biases or insensitive language.

While GenAI can dramatically speed up processes, maintain human oversight, especially for patient-facing content and critical decision-making. I always tell MedTech companies I work with: GenAI is a powerful tool, but it doesn't replace human judgment, especially in a regulated industry like MedTech.

Implement systems to continuously monitor the outputs of your GenAI tools. Look for any anomalies or potential compliance issues. Look into AI governance platforms like Fairly AI. I recommend setting up automated alerts for potential issues, as well as regular human reviews of GenAI outputs.

To get started, share our Responsible AI checklist to your marketing team. Use this for every GenAI initiative to ensure you're adhering to ethical and regulatory standards.

Responsible AI Checklist for MedTech Marketers

To help you stay on track, I've developed a Responsible AI Checklist specifically for MedTech marketers. This checklist covers the key areas you need to consider to ensure your AI initiatives are not only effective but also ethical, compliant, and trustworthy.

1. Data Privacy and Security.

• Ensure all data used for AI training is properly anonymized

• Verify compliance with HIPAA, GDPR, and other relevant data protection regulations

• Implement secure data storage and transmission protocols

2. Regulatory Compliance.

• Verify AI-generated content adheres to FDA/EMA guidelines for medical device marketing

• Ensure claims generated by AI are substantiated and compliant with regulatory standards

• Maintain documentation of AI decision-making processes for potential regulatory audits

• Implement a human review process for all AI-generated regulatory-sensitive content

3. Accuracy and Truthfulness.

• Fact-check all AI-generated clinical claims and statistics

• Ensure AI-generated content accurately represents product capabilities and limitations

• Implement a system for regular updates of AI models with the latest clinical data and product information

4. Bias Mitigation.

• Regularly assess AI outputs for potential biases in language or imagery

• Ensure diverse representation in AI-generated marketing materials

• Train AI models on diverse datasets to minimize demographic biases

5. Ethical Considerations.

• Ensure AI-driven marketing strategies respect patient privacy and physician-patient relationships

• Avoid using AI for manipulative or deceptive marketing practices

• Consider the ethical implications of hyper-personalized marketing in healthcare contexts

6. Human Oversight

• Establish clear roles and responsibilities for human oversight of AI systems

• Implement a formal review process for AI-generated strategic decisions

• Ensure final approval of customer-facing content comes from qualified human experts

7. Training and Awareness

• Provide regular training for marketing team

• Ensure team understands the limitations and potential risks of AI in MedTech marketing

The Biggest GenAI Mistakes MedTech Marketers Make

By avoiding these mistakes, MedTech marketers can take full advantage of GenAI while navigating the unique challenges of the medical technology industry.

1. Neglecting Regulatory Compliance: Many MedTech marketers rush to implement GenAI without considering FDA and other regulatory guidelines. They forget that AI-generated content still needs to adhere to strict medical device marketing regulations. This oversight can lead to costly compliance issues and potential legal ramifications.

2. Overreliance on AI for Clinical Content: Some marketers make the mistake of using GenAI to create clinical content without proper medical expert oversight. In the MedTech field, accuracy is paramount. Relying too heavily on AI without human expert verification can lead to misinformation and damage to brand credibility.

3. Ignoring Data Privacy in AI Training: MedTech marketers often overlook the sensitivity of the data used to train their GenAI models. Using patient data or confidential healthcare provider information without proper anonymization and consent violates HIPAA and other privacy regulations.

4. Overlooking the Importance of Human Touch in HCP Relations: Some marketers rely too heavily on AI for healthcare professional (HCP) communications, forgetting the crucial role of personal relationships in MedTech sales. Balancing AI efficiency with the human element is critical in maintaining strong HCP connections.

5. Neglecting AI Bias in Patient Diversity: MedTech marketers often fail to address biases in their AI models, particularly regarding patient diversity. This can lead to marketing materials that don't represent the full spectrum of patients who could benefit from a medical device.

6. Underestimating the Learning Curve: Many underestimate the time and resources needed to effectively implement GenAI in MedTech marketing. They fail to invest in proper training for their teams, resulting in suboptimal use of AI tools and missed opportunities.

Conclusion

As we've seen at Fello Agency, the potential of GenAI in MedTech marketing is enormous. From dramatically speeding up content creation to enabling true personalization at scale, it's set to transform how we connect with healthcare professionals and patients.

But I want to emphasize that GenAI is a tool, not a magic wand. Its success depends on how strategically we implement it, how effectively we train MedTech marketers, and how responsibly we use it.

The MedTech companies that will thrive in the coming years will be those that can harness the power of GenAI while maintaining the human touch that's so crucial in healthcare. It's a balancing act, but one that offers incredible rewards for those who get it right.

I've seen MedTech companies struggle with GenAI implementation, and I've seen others achieve remarkable success. The difference often comes down to approach. Those who view GenAI as a collaborative tool to enhance human capabilities, rather than a replacement for human expertise, tend to see the best results.

Remember, the goal isn't to have AI take over your marketing – it's to use AI to make your marketing more human, more relevant, and more impactful. Use GenAI to handle the routine tasks, analyze vast amounts of data, and generate initial drafts. But always apply human creativity, empathy, and strategic thinking to refine and perfect your marketing efforts.

I'm excited about the future of GenAI in MedTech marketing, and I hope you are too. I hope this guide has given you some solid ideas on how to leverage GenAI. It's exciting stuff, right? But implementing all of this can feel like a pretty big task, especially in an industry as complex as MedTech.

Look, if you're feeling a bit overwhelmed or just want to bounce some ideas around, why not give us a shout at Fello Agency? Maybe you want to dip your toes in with a small GenAI project, or perhaps you're ready to go all-in on a full marketing strategy overhaul. Either way, we're here if you need a hand. No pressure, though – even if you just want to chat about the wild world of AI in MedTech marketing, we're always up for a good conversation!

FAQs

How can GenAI improve lead generation for MedTech companies?

GenAI can enhance lead generation for medtech companies by analyzing vast amounts of data to identify potential customers, predicting buyer behavior, and personalizing outreach. It can automate and optimize digital campaigns, improve targeting on social media platforms, and generate personalized content that resonates with healthcare professionals, ultimately increasing conversion rates and generating quality leads.

How can MedTech marketers leverage GenAI for more effective product launches?

MedTech marketers can leverage GenAI for more effective product launches by using predictive analytics to identify optimal launch timing and target markets. GenAI can analyze market trends, competitor data, and customer insights to refine the value proposition and marketing strategy. It can also generate tailored marketing materials, automate campaign management, and provide real-time performance analytics to optimize launch success.

What are the key metrics MedTech marketers should track when using GenAI in their marketing efforts?

Key metrics for MedTech marketers using GenAI include conversion rates, customer engagement levels, lead quality scores, and ROI on marketing campaigns. They should also track time and cost savings from AI-automated tasks, accuracy of AI-generated content, personalization effectiveness, and customer satisfaction scores. Additionally, monitoring market share growth and the impact on sales pipeline are crucial for evaluating GenAI's overall success.

How can GenAI help MedTech marketers better understand and adapt to local needs in global markets?

GenAI helps MedTech marketers understand and adapt to local needs by analyzing regional market data, cultural nuances, and local healthcare systems. It can process vast amounts of local data to identify market-specific trends, preferences, and regulations. GenAI can then assist in localizing marketing materials, adapting messaging to cultural contexts, and optimizing strategies for different regions, ensuring marketing efforts resonate with local audiences.

How can GenAI assist MedTech sales reps in their day-to-day activities?

GenAI can assist MedTech sales reps by providing real-time, data-driven insights about customers and products. It can automate repetitive tasks like scheduling and reporting, freeing up time for customer interactions. GenAI can also generate personalized sales materials, predict customer needs, and suggest optimal engagement strategies. Additionally, it can provide instant answers to product queries, enhancing the rep's ability to address customer concerns effectively.