Download - COFLEX - Advertising Campaign Strategy
“GET BACK IN MOTION”
Coflex
Advertising Campaign Strategy By: Jeremy Divinity
Company Coflex was first invented in 1992 and had its first implant in 1994. The FDA approved it for use in the U.S. on October 17, 2012. Coflex is a motion preserving, minimally invasive treatment, for moderate to severe spinal stenosis post decompression is the first and only alternative to fusion. Coflex implant provides pain relief for patients with low-‐back pain and leg pain. Over 15 years of clinical experience and almost 100,000 implantations worldwide have proven the clinical success of Coflex. Coflex patients have achieved:
• Faster symptom relief • Shorter operating time and hospital stay • Les blood loss • Stability in the treatment area • More natural movement • Overall satisfaction
The coflex® Interlaminar Technology is only used by surgeons who are experienced and have undergone hands-on training in the use of this device. Operation Surgical decompression procedure – provides stability to your spine without the need to fuse your vertebrae bones together. The coflex device is a titanium implant that goes in the back of your spine after decompression to provide stability while maintaining the motion in your spine. Procedure Tiime: 45-‐60minutes Recovery: 1-‐2 weeks, walking the same day
SWOT
Strengths • Shorter operation time • Good lasting reputation among
patients & physicians • Faster symptom relief • Cost-‐effective & time saving • Reduced hospital stay • Clinical results outperform fusion • Provides stability & mobility
Weakness • New to the U.S. Market • Fusion is the main surgical treatment
in the market for spinal stenosis • Lack of physicians experienced with
the device • Low patient awareness • Not known in the U.S. Spinal Surgery
Industry
Opportunities • Growing industry -‐ aging population • Progressive shift away from spinal
fusion • Increasing emphasis on value • Physicians want to increase
operational productivity • Patients want cost-‐effective, high-‐
quality, and safe procedures • Baby boomers want to be active
Threats • Great direct competition – fusion is
well-‐known amongst physicians and patients
• Lobbying power amongst physicians
Competition
Direct Competition
Indirect Competition Non-‐surgical options
• Medication – relieve inflammation, pain, and muscle spasm • Physical therapy – combines inactive therapy and therapeutic exercise • Injections – helps alleviate the symptoms of spinal stenosis • Exercise • Massage • Chiropractic care
Trends
In the U.S. market for spine surgery products/technologies, there is a progressive shift away from spine fusion toward alternative technologies, such as non-‐fusion interspace devices, that are less invasive and provide more flexibility in the spine and minimize pain. In the US, surgeons and industry experts have indicate that spinal fusion is overused and that it expected to be replaced by non-‐fusion spinal procedures. A main concern for baby boomers is to be active and non-‐fusion interspace devices provide more flexibility.
Source: MedMarket Diligence report #M510, "Spine Surgery Worldwide: Products, Technologies, Markets & Opportunities, 2008-2017." A majority of LSS patients continue to choose non-‐surgical treatment and avoid surgery despite having a progressive, clinically significant disease. According to a SPORT study, “surgery for spinal stenosis has been shown to be more effective compared to nonoperative treatment.
Source: MedMarket Diligence report #M510, "Spine Surgery Worldwide: Products, Technologies, Markets & Opportunities, 2008-2017."
Target/Segments Lumbar Spinal Stenosis (LSS) is more often a condition that affects more than 38.8% of people age 60 and older. As the population ages, the likelihood for older people to get diagnosed with LSS increases
• 400,000 Americans suffer from the symptoms of LSS • 1.2 million Americans suffer with back and leg pain related to LSS
Source: http://www.northsidespineandpain.com/news-‐topic.php?newsid=22 Demographics
• Age 62+ • 49.3% Female, 50.7% Male • 89% of potential market is white
Psychographics
• Desire to be active • Lived with symptoms for years • Face pain and functional difficulties every day • Want a quicker return to normal activities
Campaign Objectives Ad campaign timeline: 1 year
Objectives for the first 3 months: 1. Raise awareness 2. Increase brand recognition 3. Educate both patients and physicians on the procedure:
-‐ Familiarity with Coflex overall brand image & message -‐ Convey consistent messages across all the media channel -‐ Highlight Coflex offerings: functional & emotional benefits Objectives for the following 9 months:
1. Increase market share over time 2. Build engagement from both physicians & patients:
-‐ Capture sales from competition⇒ increase market share -‐ Interactions between Physicians/patients. Previous Patients/potential patients both Doctors and patients/Coflex. -‐ Driving traffic to our Website/ blog⇒ increase # of clicks and visits
Opportunities
Industry Opportunities • The only FDA approved device offering for a non-‐fusion procedure • Spinal Stenosis patients is expected to double by the year 2020 to 2.4 million
Source: http://www.paradigmspine.com/coflex-‐smart • Physicians seek greater operational productivity and focus on patient value
Customer Insights • Patients want to be active without pain • Patients are interested in a new non-‐fusion solution • Patients often choose non-‐surgical treatment to avoid fusion surgery • Physicians seek great productivity
Market Strategy Positioning Statement To baby boomers age 60 and over who suffer from Lumbar Spinal Stenosis (LSS), Coflex is the minimally invasive, Motion Preserving Interlaminar Stabilization device that provides stability while maintaining the motion in your spine USP The only Motion Preserving Interlaminar Stabilization device for treatment of spinal stenosis that not only relieves pain but also enables the motion and stability in your spine Benefits -‐ Enjoyment of life -‐ Quick procedure & recovery time -‐ Provides stability & full range of motion -‐ Minimally invasive treatment -‐ Lasting symptom relief
Messaging Strategy Communications Objectives -‐ Educate patients and physicians on the Coflex brand -‐ Increase physician trial and certification Type of Consumer Response
Message Objective Message Strategy
THINK Awareness, brand/ product knowledge, education
Info on benefits & features, pre-‐emptive, credibility
Messaging Audience Lumbar Spinal Stenosis patients who suffer from severe back & leg
pain Problem Pain restricts active and healthy lifestyle Solution Coflex – allows for patients return to their “Enjoyment of Life” Proof Minimally invasive, provides stability, quick recovery time and
return to normal activities Differentiate Coflex is the only spinal stenosis treatment to not only relieve pain,
but also permits full range of motion Action Apply for consultations / Request educational information
Advertising Strategy Selling Strategy -‐ Benefit: Enjoyment of life -‐ Feature: Minimally invasive operational procedure with quick recovery time -‐ Pre-‐emptive: The only alternative to spinal fusion that enables the motion and stability in your spine Headline “Get Back In Motion” Tagline/Slogan “Do The Things You Love Most”
Channel Plan CHANNEL NAME STRUCTURE TONE DESIRE ACTION
Landing Page (Community
Blog)
Coflex | No pain
Blog with weekly posts. Crossed link with coflex
website
Inviting & Refreshing.
Click through blog posts. Getting more information about Coflex and advise how to deal with the pain. Making consumers feels supported and more relatable to the Brand.
Trade Show (Physicians)
Coflex Informative Booth. miniature putting green to
attract physicians.
Professional Physicians interact with coflex reps and signup our mailing list and
Blog.
Private Event (Patient)
“Get Back in
Motion””
1 Doctor and 1 Chiropractor Guest Speaker. Free Lunch and Massage chairs.
Light & Friendly
Attract Spinal Stenosis patients and educate them about Coflex.
Direct Marketing (Email & Mail)
Coflex Informative Click the link and/or go online to sign up in the
community Blog
Print (AARP) Coflex Full Page Bleed Hopeful Get the consumer’s attention. And curious about the Brand.
Digital Marketing
Coflex 1 Leaderboard, Side rectangles.
Hopeful & Fun
Click and Redirect to Coflex’s website.
Creative Plan
Coflex | No Pain Blog
Direct Marketing
Digital Marketing
Tactics Landing Page (Community Blog)
• Upload videos and blog post to educate visitor about the brand and spinal stenosis • Create Bulletin Board System to allow patients and physicians to communicate • Insert a tab that would allow visitors to sign up for weekly newsletters
Trade Show • Give out freebies and brochures • Physicians interact with coflex reps and signup our mailing list and Blog.
Private Event • Provide free 10 mins back massage in the events • Attract Spinal Stenosis patients and educate them about Coflex
Direct Marketing (Email and Mail) • Include a free consultation promotion code to encourage target audiences to sign up
for one-‐to-‐one consultation session Print
• Run full page bleed on notable industry magazines including AARP • Include a free consultation promotion code to encourage target audiences to sign up
for one-‐to-‐one consultation session Digital Marketing
• Use remarketing tactic to convert traffic coming to the landing page
Financial Plan Event
• Private Event: $25,000 for 250 people event x 2 events, one in west coast, one in east coast
• Trade Show: $15,000 Print
• $300,000 (First Ad $5,000, Additional Ads $2500, for 119 Ads) Email
• Coding, Design, Prep, and Blasting Service: $5000 per month for 12 months = $60,000
• List Fees: $40,000 Landing Page
• $15,000 per domain for one domain = $15,000 Digital Ads
• Flash: $1000 per ad size per message for 100 ads = $100,000 • Static: $500 per ad size per message for 200 ads = $100,000
Analytics • $5000 per month for 12 months = $60,000
Content • $10,000 per month for 12 months = $120,000
Controls Landing page & website:
• visit: tracking the number of visits & subscriptions/ months: • # of people click on our landing page/month
-‐ # of people subscribing/ months • content consumption & engagement: • time-‐on-‐site: time visitors spent on our page • top content: the most viewed part of the page • bounce rate : (# of visits/ # of people who leave after 1 second) • page views: how many times the site loaded • unsubscribe: the # of people who stop coming to our page
Emails & Digital ads • Email click through rate:(# of clicks)/ (# of emails sent)
⇒ see the reaction of our visitors to the campaigns • Email open rate: (# of emails open)/ (# of emails sent)
⇒ subject line effectiveness • Response rate: (# of response)/ (# of emails sent) • Unsubscribe: (# of unsubscribe)/ (# emails sent)
cost vs income for emails campaign ⇒ revenue per 1,000 emails sent ( 1,000/ sales) ⇒ cost per 1,000 emails ( 1,000 * cost) Engagement ( Trade show & private event)
• measuring the success of collecting qualified leads to both events • (# of qualified leads) / (# attendees)
• Optimize lead conversion: patients/physicians who would like to have Coflex after
the events • Attendees to lead rate : (# of leads collected)/ (total # of attendees)
⇒ leads collected is the number of follow up emails we will get from those who sign up with their emails after the events
• Lead conversion rate: (# of leads collected)/ (# of qualified leads) ⇒ measuring the number of leads who will become customers To follow-‐up through emails with attendees we can track:
• Email click through rate • Email open rate • Email opt-‐out rate • Lead conversion rate
Print Incentivize customers with a coupon code that they can redeem to see which print ads will generate the best results ROI
Total gross revenue/total campaign cost ⇒ total revenue: top line sales generated from the campaign ⇒ total campaign cost: expenses/ cost related to the overall campaign for Coflex