Pitching yourself to medical investors starts with explaining the way your medical device tackles health problems. The first step to prepping yourself for selling to investors is researching where to find them and getting to know their company, even if they’re independent shareholders. Here are some things to include in a medical device investor pitch.
Include the Problem You’re Solving
Think about all the problems you seek to resolve for patients and medical professionals. From those medical problems, you believe your device could help; who is your audience? Investors bring up these points in meetings, so it’s essential to have an idea of who you’re targeting before presenting your device.
During your research phase, write out answers to questions like how your device solves issues better than the competition. Secondly, understand the size of your market. Finally, determine who will purchase your device. Will it be the doctor for medical procedures or the patient for treatment? Answering these questions will build a solid pitch to investors.
Outline Your Marketing Strategy
You also need a marketing strategy to accommodate the problem solving. A good investor knows that a company with a solid idea has a strong marketing strategy. Show shareholders how your company plans to progress after receiving funding for your medical device. Your plan should clearly outline milestones at different points of the year.
Your marketing goals could include receiving clearance for selling your device on the market, producing case studies showing real people using your device, and providing feedback on your product. The case study responses help customers learn more about your product.
Always Show Your Expertise
Show your expertise, even if your company is only you. No stakeholder takes inexperienced individuals seriously. Ensure you know how your medical device works, including how it could improve a patient’s life.
Having a team behind you with experience in the medical industry will sell you better. Don’t just give out buzzwords—put meaning behind everything. What makes your product engineering team so great, and why did they choose you to be the spokesperson for this medical device? You need to answer those questions to show investors you know what you’re doing.
Use Simple Language To Explain Your Product
You can give all the scientific details you want on a case study report for scientists, but a shareholder might block you out. Instead of relying on jargon and buzzwords to get your point across, stick to simple language. Concise speech is more engaging. Improve your medical device pitch to investors by upping its engagement levels.
Using video content in a pitch to investors is better because of time limitations. Investors have many entrepreneurs to see but very little time to get through them. Keep your content simple and straight to the point; you will see many shareholders jumping at the chance to learn more about your product.
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