By now, you’ve probably heard about UVP or Unique Value Proposition. This is a marketing term that helps you communicate what differentiates your solution from the competition’s. Plenty of great resources exist for crafting a UVP, but there’s an unusual challenge in designing UVPs for healthcare.
Healthcare is a complex system with multiple stakeholders.
And guess what? You need a UVP for each stakeholder group.
Maybe you’ve already cracked the UVP for your target customer. Say you’ve created a medtech device for patients with diabetes. Awesome, the patient knows why your device is unique and what makes it the best fit for them and they decide to use it.
But what about the clinicians, the ones caring for the patient?
And the payers, the one paying for the device?
And the policymakers, the ones granting market access?
Does your UVP make sense to them and what they value? Probably not.
You need a Unique Value Proposition for each stakeholder group. Because even if your solution is for one stakeholder, you’re not going to find much traction in commercializing your product unless you have designed a UVP for all the players involved.
So how do you craft a UVP for each stakeholder, while also remaining true to your product and company?
First, you need to know your company’s narrative. What’s your history? Your present? How do you imagine the future and how you will shape it?
Next, identify the values of your stakeholders. What clinicians value is slightly different than what patients value. What regulators prioritize will be different than what payers prioritize. Each healthcare stakeholder, although all in the same industry, will have different needs.
Then you can start crafting your UVPs based on each stakeholders’ unique context. I recommend using analogies as part of your process, as it provides a quick reference for each specific stakeholder.
Yes, healthcare is complex. Yet by developing UVPs for each stakeholder, you are able to agilely respond to their different and emerging needs. By customizing for each stakeholder, you remain relevant and gain their buy-in as you bring your product to market. Craft UVPs that are just as unique as each stakeholder and you will find yourself well on your way to success.
Ari Mostov is a healthcare narrative strategist. She helps healthcare leaders navigate disruption through the power of storytelling. To learn more, visit www.wellplay.world