Throughout history we see good products lose, You may have a better product, great people, excellent infrastructure, but the competitor seems to get the most attention and traffic.
Why is that? Why doesn’t the world get it?
‘Their’ software won. They won because they were there. They never thought for a moment that they might lose. They played offensive rather than defensive, even though they knew their software was not up to par, and definitely inferior to yours. Here’s why.
Behavioral Health, Interoperability and eConsent: Meeting the Demands of CMS Final Rule Compliance
In a webinar on April 16 at 1pm ET, Aneesh Chopra will moderate a discussion with executives from DocuSign, Velatura, and behavioral health providers on eConsent, health information exchange and compliance with the CMS Final Rule on interoperability.
They told a story that connected emotionally. It resonated with the buyers’ vision of a better world for themselves; not yours. Everyone tells a story, but their story built evangelical followers, dedicated customers.
Humans make purchase decisions emotionally – based on how products promise to make us feel. Products should satisfy an emotional need of a doctor (“I want to finish my charts and go home on time, and not have to finish them at home”) and/or increase self identity that seems to have been lost (“I’m a doctor and my primary goal is to treat patients rather than become a data entry operator and data collector for someone”).
Product features are generally not that important to these emotional connections. Companies that well with emotional connections –
- Shape brand identities with emotional values.
- Differentiate product and service offerings that connect with buyers.
- Prioritize long-term customer relationships over short-term sales because emotionally connected customers are more valuable long-term.
- Use emotional connections to build brand extensions and fuel product innovation.
- Redefine customer expectations all the time.
- Challenge traditional norms of their industry at all times.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
“[In] the last 50 years, the economic base has shifted from production to consumption. It has gravitated from the sphere of rationality to the realm of desire: from the objective to the subjective, to the realm of psychology.”
– Herbert Muschamp, New York Times essay on product design.
Companies and brands must form strong customer bonds and build tribes through developing mind share and an emotional ‘heart’ share. Only stories that resonate emotionally will win.
In the end, they were ready to stick it out for a long term. Instead of expecting to increase their traffic, leads and customers overnight, they knew it would take years, perhaps decades. Are you ready for that?
