Ancient philosopher Lao Tzu said, “If you do not change direction, you might end up where you are heading.” For many businesses, the pandemic pressed the fast forward button and gave a glaring glimpse at how prepared they were for the future. A lot of them didn’t like what they saw, especially when it came to their digital capabilities.
Since Covid-19’s arrival, consumer needs and behaviors have driven commerce heavily online, a trend that was already in motion. But the strange circumstances of 2020 and beyond further defined which industries came to an eerie halt and which flourished.
MedTech was one sector that, despite challenges in the supply chain, fared well. According to Medical Design and Outsourcing, “Annual reports recently released by 20 of the world’s largest medical device companies showed only a slight dip in revenue during 2020 — a year in which medtech held the front lines against the COVID-19 pandemic.”
The article pointed to companies that sell diagnostic tests, essential devices, personal protective equipment, and at-home treatment products as slices of the industry that saw steady sales or growth during the pandemic. Having a robust eCommerce website for medical products was the key that allowed some MedTech enterprises to make significant progress.
Here’s how those companies are rising to the occasion, despite ongoing challenges shaping the role of MedTech in the eCommerce landscape.
Unexpected and specific needs came to light as a result of the pandemic, and companies raced to be the first to meet demand. Rapid development of new products, like those for personal protective gear and sanitization resources, contributed to expansion within the industry.
But this was only true for businesses with the tools to actually bring novel products to fruition. In many cases, pushing out products quickly resulted in MedTech companies bumping up against the limitations of their current online platforms.
For enterprises that reacted quickly to the need for a next-level digital experience, the insight paid off. Those who invested in a cutting-edge eCommerce website for medical products, like ZiftrShop, the opportunities have been limitless.
As customers leaned further into mobile shopping, the experience remained seamless. When global opportunities appeared, multiple channels, languages, and currencies available right out of the box allowed companies to propel themselves forward.
But if the pandemic proved anything, it’s that circumstances can shift on a dime. Perhaps the most important lesson learned is that successful enterprises should always be prepared to evolve.
As the way people shop has changed, so have consumer expectations for the brands they buy from. Convenience reigns and any company seeking to thrive in this moment must meet customers where they are. That means multiple marketing channels, each with tailored messaging.
For this reason, there’s a noticeable shift in marketing approach taking place within the world of MedTech. A recent article from MedTechDive noted that “some companies saw the pandemic as an opportune time to target new customers, particularly as many spend more time engaging with media.”
More of a focus on direct-to-consumer campaigns has become evident as part of the response to the current retail environment. This opens a whole new world to MedTech businesses but requires capabilities that may not have been on the must-have list prior to now.
Face it, consumers want ever more personalized content and everything about the sales approach needs to acknowledge that. What if it were possible to reach and engage them with full-service marketing solutions, like the ones ZiftrShop has at the ready?
With powerful promotion tools, including sophisticated options for pricing, discounts, coupons, and special offers, it’s easy to nurture and engage buyers. ZiftrShop also provides simple but powerful analytics to aid in tracking and optimizing sales.
Everything about the platform is built to help businesses attract new customers, connect with existing ones, and scale to markets they perhaps never even considered before with ease.
The opportunity to scale may sound like an attractive option, but how many enterprises are actually ready to turn the business obstacles of an event like the pandemic into silver linings? One MedTech company was faced with the challenge to do just that.
Lunella, an at-home medical test device with an accompanying app, needed quick turnaround time to market for its new product. But that’s no small feat in an industry like MedTech, for which there are added requirements around consumer data privacy for all transactions.
From HIPAA compliance to PCI, an eCommerce platform serving enterprises in the medical sector has to be fully equipped. Lunella needed a platform designed with those security necessities at the forefront. Not only did ZiftrShop enable the company to create seamless customer access to personal data without compromising information safety, it also met all other regulatory requirements.
From design to launch, Lunella made it to market in just six weeks, while also being fully compliant. Built for change, ZiftrShop provided opportunities for valuable A/B testing, as well as the ability to quickly adjust checkout flows and optimize conversions. Those are the kinds of nimble strategy nuances that will drive leaders in the MedTech sphere to the forefront in the coming years.
At-Home Health Boom
In a recent article from the U.S. Chamber of Commerce, it was noted that “Health has emerged as a key focus for consumers readjusting to their ‘new normal.’ And after months of social distancing, consumers’ approach to fitness and overall wellness may be permanently altered.”
While brick-and-mortar wellness operations suffered serious losses in 2020, the industry as a whole is likely to benefit from a permanent shift in mindset toward preventative care. And now consumers want to approach this in a modern way. Seeking convenience and control over their own health picture, more people are turning to digital healthcare options and at-home self-testing.
This new attitude paired with a lasting trend toward remote work opens up space for all sorts of new products in the MedTech sector. The U.S. Chamber of Commerce predicted: “As people work from home in unprecedented numbers, more consumers will incorporate new practices for both self-care and cleaning into their personal spaces.”
From specialized lighting for physical and mental wellness to technology to improve air quality and environmental pollutants in the home, the possibilities remain to be seen. The same is true for digital fitness and wellness, which are also booming as more people choose to stay home and forego added living costs like gym memberships.
Though wallets may be slightly tighter, people are also being more thoughtful about how they spend. They’re investing more in the things that matter, like health and well-being. And businesses that are prepared to offer valuable at-home solutions will need to ensure their online presence is capable of meeting demand.
Is your eCommerce enterprise ready to level up and release the challenges of an outdated online experience? (Your customers will thank you!) Accelerate your business with a platform that’s ready for anything the future holds. Find out what ZiftrShop can do for you.