A Health Tech Startup in Belgium Wanted to work on their Go-to-Market strategy to facilitate their entry to the MENA Region (2023)
A Health Tech Startup in Belgium company specialized in the research, development and commercialization of remote detection and monitoring solutions for heart failure approached Theta Consultancy to ensure a well-informed and comprehensive strategy that incorporated knowledge transfer, market research, and stakeholder engagement.
The client is actively committed to expanding its business to the MENA region. In order to achieve that goal, we helped the client in setting and executing the preapproval strategy, ensuring a quick go-to-market approach once the solution is commercially ready.
In the first phase, knowledge about the client's solution is transferred to Theta Consultancy. This step serves as the foundation for the subsequent actions.
Next, ideation sessions are conducted to set priorities for the preapproval strategy. These brainstorming sessions lay the groundwork for decision-making and planning.
A comprehensive market study is then carried out to gain a deep understanding of the Middle East market's unique characteristics. This knowledge is crucial for making informed strategic choices which Includes attending/participating in the main conferences in the region.
Following this, the team defines the go-to-market strategy, which includes identifying target audiences and selecting the right clients to run a POC and clinical trial to prove the value and collect local patient data.
Engagement with key stakeholders is a pivotal step in the approach. This involves reaching out to the respective association, interest groups, conferences, and Key Opinion Leaders (KOLs) to gather insights, build relationships, and secure support for the preapproval strategy.
Planning for business execution is another important component. This phase explores the best methods to implement the business once the product gains approval. Options such as finding the right clients that can perform a clinical trial to prove the value and gather data from patients.
Lastly, to maintain progress and ensure alignment with the preapproval strategy, biweekly meetings for review and task assignments are conducted. This regular monitoring ensures that the approach stays on track and adapts to evolving circumstances.
Through a comprehensive knowledge transfer, priority setting, market analysis, stakeholder engagement, go-to-market strategy, regulatory compliance, and regular review meetings. The client successfully established an effective go-to-market strategy that aligned with their business objectives for the medium and long term. By building key relationships and marketing their products/services we facilitated the client's entry to the market.
Our commitment to the client combined with our strategic consulting services, has created a solid foundation for their future endeavors.
If you are interested in enhancing your organization's Go-to-Market Strategy, please feel free to contact us for a personalized consultation.
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