Transforming Digital Health Innovation Into Trust
Some of the most compelling origin stories of high impact startups are borne from a founder's personal experience or pain points. The a-ha moment behind some of the most beloved creations really stem from a lightbulb moment where a founder thought, “There has to be another way.”
From the founders of Uber, unable to find a taxi on a snowy night and wondering,“What if you could request a ride simply by tapping your phone?” to the founders of AirBnB using their own struggle to pay rent to re-imagine the way the world viewed accommodations, countless industries have been completely disrupted based on innovative “what if” scenarios.
This trend is particularly strong in the healthcare sector, where founders have taken on the healthcare system– creating new solutions from a market breakdown by merging the old systems with new technologies.
Like Kate Ryder, who saw the extreme lack of support available for new parents, and founded Maven Clinic, the first unicorn dedicated to women’s and family health (and backed by Oprah Winfrey), which has helped millions find support in areas like fertility, pregnancy, adoption, parenting, and pediatrics. And like Ellen DaSilva, who after being frustrated by the limitations of the healthcare system for her two young sons, founded Summer Health, backed by top-tier investors Alfred Lin at Sequoia Capital and Deena Shakir at Lux Capital, to radically simplify access to pediatric healthcare.
For any startup founder, establishing trust and credibility is essential. But nowhere is this more imperative than in the digital health space, where companies are asking people to trust you with their life– and their personal data. Striking the right balance between educating the market and avoiding overt sales tactics is crucial for gaining consumer trust.
As the digital health market continues to grow, so does the competition to break through the noise. In the first quarter of 2024 alone, 29 New York-based health tech companies raised $914 million. Since then, funding continues to pick up steam, raising the stakes for companies to differentiate themselves– and do so quickly.
With new innovations emerging almost daily, newcomers need more than just groundbreaking technology to capture the attention of investors, partners, and customers. In this complex and highly regulated industry, companies must be able to communicate complex ideas in a clear and compelling way while amplifying trust and credibility. Here’s how to create impact:
Have a clear brand narrative
It’s not just about what you do, but also about how you tell your story. Whether it’s the story of your company’s founding, the problem your technology solves, or the impact you’re making on patients’ lives, compelling storytelling can connect with your audience on a deeper (often more emotional) level.
For instance, your narrative may zero in on your founder’s personal experience with a health issue that inspired your new technology, or the journey of a patient who has benefited from it. These stories can be shared across various channels—press releases, media interviews, social media, and more—to create a consistent and memorable brand narrative.
Simplify the message
One of the biggest challenges healthtech companies face is translating complex and technical language into terms that are easy to understand. Just like fintech and AI have their own jargon, so does healthtech. By breaking down sophisticated concepts into clear, concise, and accessible language, emerging digital health solutions can better connect and resonate with their intended audiences.
For example, instead of delving into the intricacies of machine learning algorithms, a company with an AI-enabled solution might explain how the AI mimics human decision-making to make healthier choices. Using analogies, visuals, and real-life case studies can also help demystify the technology and make it more relatable.
Establish expertise
Enhanced credibility and authority are foundational to any successful communications strategy. By consistently sharing valuable information and data-backed insights, leaders can position themselves as go-to sources and thought leaders. The key is to think beyond your specific product or technology to address bigger themes, trends and pain points and share an informed, well-balanced point of view. These insights can be shared through blog posts, white papers, speaking engagements, and awards, all of which can help increase credibility and keep your brand top-of-mind.
Build trust through transparency
Understanding that digital health often directly impacts people's health and well-being, trust is absolutely essential. On top of this, increasing utilization of AI and automation in healthtech has raised concerns about data privacy and other ethical considerations. Any misstep in communication can lead to skepticism, regulatory scrutiny, and potentially even harm to patients. Look for a communications partner with relevant healthtech experience and deep understanding of AI who can help ensure that you embrace transparency every step of the way.
In the fast-paced world of digital health, where innovation is constant and competition is fierce, standing out requires more than just a great solution. With a strategic communications partner in place, healthtech companies can not only capture the attention of their target audiences but also build the trust and credibility needed to drive long-term success.
