Project Information
Category:
Industry:
Client:
NeuroTech Company (name anonymised)
Review:
“The work we recently engaged DRG for was completed to a very high standard. Chris and the DRG team were incredibly diligent and went above and beyond what was asked of them from our side. I wouldn’t hesitate to engage with them again for any similar challenges that arise.” Commercial Director, Europe – Discreet white-label partnership, (Client Confidential)
Neurovascular / Pharma
Desk Research Group was commissioned by a leading medical technology company, referred to here as “NeuroTech Company”, to research its competitive landscape in the neurovascular medical device industry from May 2022 to May 2023. Based on our findings, we recommended updating the research on a semiannual and annual basis.
Our research demonstrated ways to strengthen relationships with stakeholders, including customers, partners, and the broader medical community.
Overview
BACKGROUND
“NeuroTech Company” specializes in developing and manufacturing medical devices for treating neurovascular diseases such as ischemic and hemorrhagic strokes, brain aneurysms, arteriovenous malformations (AVMs), and other neurovascular disorders. The company’s sales and marketing activities include public relations, and therapy awareness in addition to product launches and developments which are primarily shared on its website and social media channels like LinkedIn, Twitter, and Facebook. Content is distributed globally without focusing on a specific market .
WHAT WE PROMISED
The study examined five key areas: Marketing & Social Media, Partnerships, Public Relations, Training & Publications, and Trade Conventions, using various databases and social listening tools. The research covered digital communication and publishing activities of all core companies, mainly through corporate websites, Twitter, LinkedIn, and YouTube, with fewer using Facebook and Instagram. The goal was to understand the competitive landscape’s evolution based on digital activities. Research was conducted across several countries including France, Germany, Italy, Spain, the UK, and the US, and involved analysis of key competitors in the neurovascular sector .
INSIGHTS PROVIDED
- Enhanced the understanding of the competitive landscape
- Improved digital marketing and communication strategies
- Identified opportunities and threats Offered clear actionable strategic recommendations
Outcomes
Understanding your market gaps and areas for innovation, lead to improved and new product offerings
Understanding of the competitive landscape – The research successfully provided a comprehensive view of the neurovascular medical device industry’s competitive landscape, including how it has evolved over the specified period. This understanding enabled the company to identify current market trends, competitor strategies, and potential areas for growth and improvement.
Improved digital marketing and communication strategies – By analyzing the digital activities of “NeuroTech Company” and its competitors, the research highlighted effective practices and areas needing enhancement in digital marketing and communication. This included insights on the most engaging social media platforms, content types that resonate with the audience, and strategies to increase online visibility and engagement.
Identified opportunities and threats – The SWOT analysis part of the research helped in identifying strengths, weaknesses, opportunities, and threats. For a successful outcome. This analysis provided actionable insights that guided strategic decisions. “NeuroTech Company” further leveraged its strengths like a strong presence on some key social media platforms, while addressing weaknesses like the lack of activity on Instagram and difficulties in website navigation.
Actionable strategic recommendations – The DRG research offered clear recommendations for future actions, such as increasing posts on LinkedIn, sharing more educational content and success stories to grow awareness, and considering the use of additional social media platforms like Instagram for therapy awareness.
Our research offered insights into product launches, development, and therapy awareness strategies of competitors which in turn informed “NeuroTech Company” about market gaps or areas for innovation, leading to improved or new product offerings.
Lastly, by analyzing public relations and partnership activities, the research showed ways to strengthen relationships with stakeholders, including customers, partners, and the broader medical community.
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