Healthmonix
Challenge
Before Slice began working with Healthmonix in 2019, the woman-owned healthcare tech company had developed the innovative tool MIPSpro that allowed hospital executives to navigate Medicare requirements to maximize their MIPS incentive. But Healthmonix now aimed to launch their first new product in a long time, COSTpro. It would be the first and only technology platform that would allow health systems to get in-depth actionable cost data from CMS. Healthmonix approached Slice to develop a go-to-market strategy, including competitive research, name and branding guidance, and a beta launch testing program.
Insight
To begin our engagement, we started with a First Cut Session to learn more about their ideal users, current product offerings, and potential industry trends. After our kickoff, we quickly delved deeper into the complexities of value-based care and researched competitors in the healthcare technology space.
In order to launch any successful product, you first need a name and positioning that clearly identifies and differentiates your benefits. The initial name, COSTpro, while on-brand with their other products, was not clear for the product’s new benefits. We brainstormed several names and landed on REVlytix, focusing on the two key components of the product: revenue and analytics, while also staying unified with complete brand by replicating the “ix.”
For the beta program, we developed a strategy that incorporated several pieces of content and tools that would add up to a successful launch. We wrote the script for custom explainer videos that would be an easily promotable asset for explaining the intricacies of the product. We also helped them develop a plan to target each audience specifically through targeted industry messaging and dedicated, benefits-focused landing pages. These targets could be reached by leveraging LinkedIn Sales Navigator, which allows you to target individuals based on specific business data, including industry, size of business, and job title and role.
Success
With our strategy, Healthmonix was able to launch the new product and reach targets across several different audiences. It was also able to start promoting its new product with a strong brand tie to its corporate identity. The launch of the product was complicated by the COVID-19 pandemic, but with clear messaging, consistent materials, and a communicative name, it found a strong footing in the market quickly.
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