One of the most difficult tasks for a young company is to take the long list of breakthrough features and create a ten-slide presentation or a one-page brochure. Whether your audience is investors, clients, industry analysts or journalists, everyone wants to easily understand the big ideas that you have developed.
Ravco Marketing can help you make these tough decisions to ensure that your message is on strategy and clear. We can help you bundle up lots of small features into three to four big ideas that your audience can grab onto.
Deliverables include presentations, brochures, and sales enablement content like short training programs and demos.
“I met George through the Hartford InsurTech Hub, where my company iPill was part of the 2020 cohort of start-ups. George was an excellent mentor and worked with me to develop messaging that differentiated my product’s key features and positioned the company for success. He helped me better understand how to use marketing as part of my early growth strategy.”
Dr. John Hsu - Founder & CEO of iPill Dispenser
iPill is a California-based InsurTech start-up that is taking on the opioid epidemic with a new technology twist that will become a game changer. John Hsu, founder and CEO, was an anesthesiologist for 28 years before starting the company and knows first-hand the scale of this crisis. He will quickly tell you that 135 people die per day in the US from opioid overdoses, and that its impacts on US economy is over $600B per year in healthcare costs and loss of worker productivity.
John created an ingenious way of pairing a mobile phone app with a secure dispenser, so that only the patient can access the medicine at the prescribed dosage. The biometric security on the mobile phone (either face or fingerprint) is used to authenticate the patient, and then the app communicates with the dispenser (via Bluetooth) to give the prescribed dosage. The pocket-sized dispenser is filled at the pharmacy and if tampered with, will destroy the pills. The prescribing doctor is able to change the prescription through secure access to the app. John describes iPill as the 21st century upgrade to the ubiquitous child safety cap that was mandated on all prescriptions back in 1970.
John has bootstrapped his company for five years and was looking for investors to scale his business. He won a spot in Startupbootcamp’s Hartford InsurTech Hub accelerator, which is where I began working with him as a marketing mentor. His need was to improve the foundational messaging into a clear and compelling story that concisely explained the product features and the benefits to four customer sets: insurance companies, pharmacies, doctors and patients. John would use this in both his investor pitch and customer marketing.
John’s ingenious invention, which had already gone through several rounds of FDA approvals has many features, almost too many to keep straight in the typical investor pitch. During a few strategy sessions we sorted and prioritized these features and consolidated them into a manageable 3-4, and then defined and branded THE key competitive differentiator in order to create a memorable positioning. We then clearly defined the benefits to his four customer sets.
We branded the key differentiating feature as Active Control Dispensing, which was the name we gave to the combination of mobile phone patient authentication, dispensing only as prescribed, and the ability for the doctor to actively monitor and change the dosage if necessary. Giving this set of feature a single name enabled John to explain his competitive differentiator as a single unified concept which makes it easy to understand and remember.
The hard part for John, like most founder/entrepreneurs, was to prioritize these features over several other important ones like safe disposal of unused pills, and a respiratory biosensor that could call 911 if it sensed patient trouble.
In addition to this, we developed the core messaging framework and brand architecture that organized his marketing messaging into a more structured and logical flow. This enabled each portion to be focused and thorough. This process enabled us to scale down and sharpen the messaging into a handful of product features, benefits by customer set, the market opportunity, and the company background and success potential.
John uses the messaging developed in his investor pitches and customer presentations. He is finding the branded feature Active Control Dispensing a powerful way to very quickly communicate his core concept and competitive differentiator. The foundational messaging developed is being implemented across all of his marketing channels, which is helping to establish a strong and memorable market positioning