How does an old company become new? – MediSolutions

Internal Team at MediPromotions | Summer 2015

Client: Medi-Promotions LLC

Client Brief

After 35 years of business, MediPromotions found itself in similar circumstances as many businesses affected by evolving technologies and regulations. Facing shrinking demand and increased competition from new digital and tech products, MediPromotions had to find a way to reinvent itself and its product offerings, woo back their former clients, and discover new markets for growth.

Research Considerations

  • What are existing perceptions of the company? Internal and external?
  • What are the desired perceptions of the company?
  • What conversations are we having?
  • How do we use existing resources including our team?
  • How do we think and empathize with our customer?

Existing Conditions

MediPromotions had an older logo for their product. They had found that their product MediScripts was synonymous with their brand in customers eyes. There were also existing business cards, sales decks, and media kits.

Process

Over the course of 3 months, we performed in-depth research of the medical marketing industry. We identified customer segments and market trends. We observed our customers habits through social listening tactics, through conversations with our sales team and by directly speaking with our existing and past customers. We conducted blind interviews with our desired targets to understand their pains, wants, and responsibilities.

We rebranded our image with new logos, imagery, and conversations. We created a brand new content marketing strategy that focused on delivering the kind of information our customers were looking for in their daily responsibilities. We interviewed our customers’ customers to be able to provide useful┬ácontent.

We kept track of metrics and growth, adopting different marketing strategies as needed. Involving and retraining our existing workforce to make them brand ambassadors and to evolve their skill sets as our company evolved as well.

Results

Key Takeaways

  • Content marketing is an investment in time.
  • A new logo and mission statement do not a new company make.
  • To understand your customers, sometimes you need to understand your customers’ customers.
  • Employees who have worked at a company for a long time, sometimes have a difficult time seeing reality.
  • Companies who do not spend enough time setting up proper workflows, services, and practices simply because money is rolling in will definitely struggle in the future when the money stops.
  • Who you choose to partner with is critical to your success.
  • Leadership is critical to change, lack of leadership is crippling.
  • There are no shortcuts to success and even though sales teams can sell just about anything, there really needs to be something of value to sell.
  • Having just one product and not constantly trying to develop it further or develop analogous products sets a company up for failure when that product faces competition.
  • People always ask for numbers and metrics, but that isn’t what they actually buy in the end.