Three Things Healthcare Brands Can Do to Build Trust and Brand Affinity
I was recently on a panel with Gabriel Perna, Digital Health Editor of Modern Healthcare hosted by our friends at PAN. We mostly talked about the bloodbath happening in digital health: decreased funding, bankruptcies, stock delistings, and even criminal drug distribution prosecutions.
The host asked us what brands can be doing right now to stand out (in a good way). I have three pieces of advice. Let’s dive in.
1. Build evidence
Some products are built upon existing evidence, and others need to build evidence themselves. Regardless where your startup falls, measuring the effects of a startup’s product or service can help in quantifying success, understanding value, identifying areas for improvement, and ensuring that it ultimately benefits those it's designed to serve, and beyond.
Invest in research to substantiate your claims. This can be internal research (e.g. stakeholder-reported data) or clinical research via a partner research institution. But don't stop there – share your results! Publish in peer-reviewed journals, present at conferences, and make your data accessible to the public. Transparency breeds trust, and in healthcare, trust is essential.
Omada Health is a great example of a startup that is constantly building and sharing evidence. Not only do they constantly publish peer-reviewed papers, but they have an entire portion of their website dedicated to it!
2. Take a stand
Every brand has a story, a purpose, a reason for being. Yet, healthcare brands tend to be super bland and dispassionate in their communications. They often get so tied up in the medical element of what they’re doing, they forget the human element.
Define what your brand stands for and articulate it clearly. Don't be afraid to voice your opinions and take a stance on critical issues facing your stakeholders.
If your company prescribes birth control virtually: Take a stand on reproductive justice.
If your company develops AI tools to streamline prior authorization: Speak out about provider burnout, and the looming clinician shortage.
If your company develops diabetes management tools: Take a stand on food deserts and advocate for policies that increase access to healthy, affordable food options for all.
If your company provides mental health services: Speak out against the stigma surrounding mental illness and advocate for increased funding for mental health research and treatment.
But don’t just speak out to be heard. It has to be authentic and tied to your core purpose. Tied to what gets you out of bed and into the office every single day. Be a champion for change and bring others along with you. Studies show that consumers prefer to purchase products and services from companies that stand for a purpose that reflects their own values and beliefs, and will avoid companies that don’t.
I’m constantly impressed with the brand team at Bobbie, an infant formula company. In 2021, they took out a full-page ad in the Sunday New York Times to combat the stigma against bottle feeding. They set out to evolve the conversation around how parents feed their babies. In doing so, they were speaking up for their customers: parents via surrogacy, same sex parents, adoptive parents, mastectomy moms, working moms, and those who choose to bottle feed for a variety of reasons.
More recently, they partnered with new mom Naomi Osaka to promote paid-leave, another issue impacting the parents they serve.
But maybe you don’t have the budget for a full-page NYT ad (which can run ~$250,000). Good news – there are lower cost ways to take a stand. You can create an "Our Stance" page on your website. Write guest blog posts or articles about the issues you care about. Or amplify your voice on social media.
Engage in the conversation, be part of the solution, and watch your brand resonate with consumers who share your values.
3. Be a thought leader
The last tip I usually share is to become a thought leader. This can be uncomfortable for folks who are social media shy, because it requires them to have their own voice separate from, but adjacent to, the brand. Consumers want to know who is behind the brands they are supporting. In fact, 77% of consumers prefer to make purchases from a company where executives are active on social media.
The goal is for the organization’s leader(s) to be in sync with societal trends. To be part of the zeitgeist. What are the pressing issues of our time? How does your work intersect with these trends? Demonstrate relevance and expertise so you can capture the attention of both consumers and the media. Here are a few ways to do this:
Post about relevant industry news on your personal social media account. Don’t just promote your product or service, talk about your industry. Some founders that do this well include Ali Diab of Collective Health, Liana Douillet Guzmán of Folx, and Carolyn Witte of Tia.
Start publishing reports that tie into the healthcare trends shaping our world. For example, we recently published a State of Egg Freezing: 2024 Trends and Insights at Cofertility to get our members and partner clinics up to speed on the industry.
Join industry associations or advisory boards. This can help you stay informed about the latest trends and connect with other thought leaders in your field.
Host webinars or meetups for other industry leaders to get together and connect. Sharing ideas and concerns builds a stronger community and positions you as a leader.
Become the spokesperson for your cause, the thought leader in your niche. Offer insights, share stories, and participate in the conversation. This not only elevates your brand's visibility but also establishes you as a trusted authority in the field. The best part? The press will start coming to you if you have a compelling story to tell.
Let’s do this
There’s a lot of noise in digital health right now. My advice to healthcare founders:
🏗 Build evidence
✊ Take a stand
📣 Be a thought leader
This is the time to build. While others are retrenching or chasing short-term hype, the best founders will be doubling down on the fundamentals: creating products that solve real problems, for real people, in a responsible and sustainable way. They are backed by evidence, driven by purpose, and led by thought leaders.
On the other side of this turbulence is our future— and the startups that emerge stronger will be the ones shaping it for the better. I remain optimistic.
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