The challenge
Lumoral is a light-activated medical device that helps prevent gingivitis, periodontitis, tooth decay, and plaque formation. It was developed by Koite Health, a fast growing health technology company based in Finland.
While Lumoral’s product is very promising and has a lot of potential to penetrate the Australian medical technology or dental market, they needed a solid strategy to launch their product and introduce it to the market. Thankfully, they approached the perfect partner - Corporality Global.
The solution
Corporality Global is an international management and marketing consulting firm specializing in niche industries such as medical technology, healthcare and more. For Lumoral’s launch in Australia, Corporality Global created a go-to-market strategy (GTM strategy) to position Lumoral for success.
Go to Marketing Strategy: A go to marketing strategy (GTM strategy) is a plan that outlines how a business will reach out to its target customers and gain a competitive edge. A GTM strategy's goal is to establish a roadmap for delivering a product or service to the end customer, taking into account aspects like pricing and distribution.
The success of products and services in a new or existing market is driven by a solid GTM strategy. Coordinated messaging, precise product positioning, and a well-defined consumer persona are all critical to a product's or service's market success.
Organic marketing efforts: To target customers where they are and at the right time, Corporality Global has set up various organic marketing efforts such as blogging, social media posting, and hosting webinars. The said strategies revolve around creating educational content to let the public know of some health concerns and how Lumoral can address them.
Targeted paid advertisements: To support organic marketing efforts, Corporality Global also launched paid advertisements on Google and other social media platforms. While getting ads approved for medical devices were faced with some restrictions on social media platforms, Corporality Global’s experts were able to tweak the messaging to be concise, factual and within the guidelines of different social media platforms.
The outcome
Through the various efforts launched as discussed above, Lumoral was able to convert visitors and social media subscribers into customers. They were also able to build collaborations with Australian dentists as part of their campaign.
