Tag: public relations

The Evolution of Thought Leadership in the MedTech Industry: Insights from Jeff Jones

Posted on by Liz Dowling

In the rapidly advancing world of medical technology, establishing credibility and trust is paramount. And one of the best ways to establish that credibility is to seek—and follow—the advice of prominent experts in a particular medtech field. Combined with a strategic public relations strategy, such key opinion leaders (KOLs) can then help raise awareness and provide an invaluable validation of a technology’s importance and value. Together, thought leaders and PR experts enable businesses to gain media exposure, present results at scientific meetings, and secure speaking engagements at industry conferences, thus raising the companies’ visibility and credibility.

Jeffrey Jones, Managing Partner at The Deerborne Group, a global diagnostics and life sciences consulting firm, has learned the importance of key opinion leaders over the course of a long and successful career at both Fortune 500 companies like Abbott, Bayer, and Quest Diagnostics and venture-backed startups like Agendia, which offers genomic testing for breast cancers. Here are his insights:

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PR Spending Rises, Even in Recession

Posted on by Greg Dennis

The respected Economist magazine reports that even in this horrible recession, corporate spending on public relations is on the rise.

“According to data from Veronis Suhler Stevenson (VSS), a private-equity firm, spending on public relations in America grew by more than 4% in 2008 and nearly 3% in 2009 to $3.7 billion,” the magazine writes. “That is remarkable when compared with other forms of marketing. Spending on advertising contracted by nearly 3% in 2008 and by 8% in the past year. PR’s position looks even rosier when word-of-mouth marketing, which includes services that PR firms often manage, such as outreach to bloggers, is included. Spending on such
things increased by more than 10% in 2009.”

Why the rise?

Part of the answer is that PR is so cost-effective, at a time when
everyone is carefully counting dollars. In healthcare, ad dollars have been shrinking because advertising is very costly and far less credible than media coverage and other awareness-building achievements generated by good PR. Moreover, the increasing need for businesses to be involved in social media — where PR shines in delivering the message — also drives investments.