Here’s a tough situation med tech and health IT companies face in healthcare: The maker of a particular technology has more than 75% market share; they are the undisputed market leader. When their device or software was introduced 5 years ago, it was groundbreaking. Now, it’s the standard. But you have something better.
How do you effectively disrupt the market leader’s longstanding domination and win significant market share? The answer lies in the hearts and minds of the clinicians using the technology. You need to carefully and precisely determine which emotional chord will open customers’ minds in order for them to consider moving from the market leader’s technology (the “status quo”) to your new and presumably better innovation.
To reveal the right emotional chord, you must ask the right questions: Are they happy with the status quo? Do they perceive any problems? Can they envision a better state? These kinds of questions will reveal the “set point,” i.e. where customers are before they know about your better device, service, or software.
In simple terms, there are four main set points based on the idea that customers are either satisfied or dissatisfied with the status quo technology, and they are or are not aware of a possible solution (or better state) a new technology might deliver. Once you know the set point, you need to identify the corresponding emotional chord, so that your messages will connect with customers and resonate at an emotional level. That resonance leads customers to feel understood, which will then open their minds to consider alternatives to the longstanding status quo.
Example: Let’s say customers are satisfied with the market leader’s status quo technology. They aren’t aware of any problems, so they certainly wouldn’t expect new solutions. Your job then is to identify the meaningful problem that: a) your customers will care about once they know about it, and b) your improved technology will solve. (And if no meaningful problem exists, then there’s really no need for your improvement, right? But that’s a different story!).
Once you determine the meaningful problem, be sure to verify customers do care about it enough to take action. Now you need to find the corresponding emotional chord. It could be frustration, as in “why didn’t I know about this problem for all these years!” Or it might be concern, as in “I hope this problem didn’t hurt our patient satisfaction scores!” Or embarrassment at not knowing about the problem. Or relief at knowing about it now. Or hope for a solution to the problem.
There are numerous possible emotional chords, and sometimes the difference between them is very nuanced, like frustration vs. concern in the example above. It’s really important to know with confidence precisely which emotional chord to tap into. Your message to tap into frustration will be quite different than messaging for concern or embarrassment or relief.
If you miss the mark on the emotional chord, then your customers will feel you just don’t get them. You will have missed your chance to open their minds to letting to of the market leader’s technology and to consider your innovation as a viable alternative. On the other hand, when you tap the right emotional chord, you may hear as we have, “Finally, someone understands what I deal with everyday!” That deep connection is the magic that can unseat the dominant market leader and win you significant market share.
Why Selling New Technology into Hospitals is Hard: Overcoming the Status Quo Bias
The Emotional Hook: How to Win Your Customers’ Hearts