30 May 23 | 09:20:05
When launching a new medical device, the first thing needed is to create clear, concise and easy-to-understand messaging that resonates with your audience. Without doing this, your future marketing efforts may be in vain.
But, how much will this cost and what will affect the cost of a project?
We’ve answered these questions many times before, as they are often the first questions asked by our clients. We totally understand this, as each company is at a different stage of its commercialisation journey and so have different budgets available for their messaging project.
In this article we’ll address all these questions, so you’ll understand what type of messaging project is best for your company and what you can expect for your money.
How many of these messages resonate with you, or really grab your attention? Probably not many. These companies could spend huge amounts of money on marketing, but if their message doesn’t change it would be wasted money.
It’s important to avoid this trap and maximise the impact of your messaging, so that the money you spend on campaigns delivers results and doesn’t hit the brick wall of ambivalence and misunderstanding with your audience.
Please note, these are average prices in 2023, but there may be freelancers or larger specialised agencies that fall outside of these costs.
In this case, we would recommend a messaging workshop with your senior leadership team so we can help you to define your target audience, their problem, your key differentiators and how you can engage your audience to perform a desired action (get in contact, book an evaluation etc).
Once the workshop is complete and messaging refined, you’ll have up to 9 core messaging topics (with a lexicon defining how words should appear) to use across your materials. This will ensure the consistency of your message to gain your audience’s attention in the shortest time possible.
We don’t typically recommend a messaging workshop on its own as it’s important that your messages are implemented correctly across all materials to drive action. Saying that, if you have a limited budget, then this is a great starting option.
The typical cost of a workshop and messaging framework ranges from £7,500 – £15,000
This includes the workshop, refined messages, lexicon and user examples (this may differ by provider)
So, you’ve completed your messaging workshop and you want to ensure your final messages will resonate with your audience.
This can be done in a number of ways from consulting members of your target audience that you already have a relationship with, to completing a full-blown market research project.
Each of these will come with a different cost. The first could be free or included within an existing consulting agreement, whereas the latter will cost a lot more. Saying that, both will likely provide invaluable information on your new messages to improve their impact.
The typical cost of message testing: Free – £40,000+
The range is affected by the number of people and geographies included in your market research project, as well as the type of research you want to be completed (qualitative or quantitative). Costs can rise over £40,000 if more extensive research is needed.
You’re now happy with your final messages and they need to be implemented into a website that drives conversion.
But, what does this mean? Quite simply your website should hold all the information your audience needs to move them through their buyer’s journey from awareness to consideration to action (this may be getting in contact, booking an evaluation etc)
All your other marketing channels including social media, email campaigns, literature and even congress stands should direct your audience to your website for this purpose.
The typical cost of a lead-generating website ranges from £15,000 – £27,500
This includes full copywriting of each page to reflect your new messages and the design and programming of your site.
You have your messaging and website ready to go so it’s now time to make sure each message is reflected in your promotional materials, from the sales collateral to social media and congress stands.
Why is this so important? Well, each time your audience reads one of your messages it will log as a ‘view’ in their brain. If they then see the message differently, the log will start back at number one, as joining the two views together will likely require too much thought.
This means that it’s critically important that your message is written the same way in every piece of material, with NO variation. This is how to quickly build audience awareness, with minimal repeat views.
Flyer (1-2 sides) – Typically cost between £1,250 – £2,550
Leave piece (4-8 pages) – Typically cost between £4,750 – £9,750
Sales presentation PowerPoint / interactive PDF (up to 10 slides) – £5,500 – £9,500
The cost of sales materials varies depending on the number of pages or slides and additional graphics/imagery needed.
Your social media channels or email campaign will likely be one of the first places your audience will see your new messages (also directing them to your website), so these must be consistent and catchy, and relay your story to your audience.
Social media templates – Typically cost £1,250 – £2,500
3-month content plan only – Typically cost £900 – £1,250
3-month content plan with full management (creation of a content plan, copy, design and posting) – £6,250 – £8,250 (per 3 months)
Email campaign (purchase of email list) – Typical cost £1,250 – £2,500 (£700 – £1,100)
Depending on the congress you’re attending the design and cost of your stand will change but typically you will require a big back wall (with counters) and 2-3 roll-up banners that will range from (copywriting and design only): £1,750 – £3,000
Larger purpose-built stands will be significantly more.
Video is the fastest-growing type of media consumed today.
Depending on what needs to be conveyed this can take anywhere between 1-3 days of filming and 3-10 days postproduction.
The cost of full management of videos is typically between £9,250 – £25,000
As you can see the real answer to this question is ‘It depends’ as every project is quite different.
If you would like to find out the actual price for an upcoming project, schedule a call with one of our team.
When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.