If you thought the myriad of global events in 2020 would see an increase in the attention we pay to our Health, then you’d be right. However, that hasn’t necessarily translated into people actively seeking relationships with new HealthTech brands.
At the moment, data suggests that consumers – particularly the younger generation – place a greater value on their Health and Fitness data than they do on their financial data. As a generation unafraid of transactional relationships with brands, this reticence could be precisely because they are savvy of the value placed on such data by brands when it comes to creating deeply personalised relationships.
It stands to reason, then, that brands wanting to connect with consumers in the HealthTech space must do so by immediately and authentically demonstrating the value of their brand to the consumer. There is undoubtedly opportunity to be found in doing so – amongst the 53% of older consumers who indicate they would share their Health & Fitness data with others, and 75% of the younger generation who take the same position.
In light of this landscape, it’s interesting to note that, in a recent study of 1,000 Aussies on preferred health channels, Hotwire and The Leading Edge (TLE) found that, for younger generations in particular, their willingness to share their health data is contingent on the inherent value it delivers. Which means that knowing how to truly demonstrate the value of HealthTech products and services is a critical consideration for any health marketing plan.
The study referenced involved TLE interviewing 1,000 Australians to set the scene for the unique challenges facing the humanisation of the Australian HealthTech landscape. We’ve created a report, What Australians Want from Health and Technology to deliver actionable insights, built around Seven Key Principles across demonstrating value in HealthTech, as well as additional valuable topics including: Building Audience Trust, Tapping into Health Conscientiousness, Encouraging Preventative Health Behaviour, Humanising HealthTech, Addressing ‘fear of the unknown’ surrounding Data; and How to Test and learn across all principles.
What we’re seeing develop in Australia are a specific set of challenges around the authentic proving of innate value from brands in HealthTech – with different challenges faced by different generations. And while those challenges are diverse, there’s nothing more uniting than our shared goal of good health. To that end, every person, brand and product will need to develop and own their unique narrative, their own take on Health Tech. To define, build and deliver that Narrative will require significant storytelling expertise. Which is where we come in.
Download What Australians Want from Health and Technology: Seven Key Principles of Health Marketing and have a read. Then, let’s talk about how to help your business scale up or step up into the future of HealthTech.