The Power of Key Opinion Leaders
The value of Key Opinion Leaders (KOLs) in your market strategy cannot be understated. You need them to launch a product, to tell your story, to train others on your procedure, to sell your device, to expand your market reach. However, there is no one-size-fits-all approach to engaging KOLs in the medtech space. Your company’s needs will vary, and you’ll need different types of KOLs based on potential opportunities.
When managed effectively, working with a well-balanced group of KOLs can have a major impact in product adoption and moving the market in your favor. With that in mind, here are six types of KOLs and how to engage with them to drive your business.
ACADEMIC
TRAINER
MARKETER
INNOVATOR
INFLUENCER
LEADER
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The Academic
Data Driven. Objective. Outcome-Focused.
This may be the most obvious KOL you work with in the medtech space. Typically associated with an academic center, they’re well published and work for an institution that is accomplished in clinical studies. These centers have the infrastructure in place to complete a study on time, making them ideal to use in your next trial. They’re the knowledgeable and objective voice you want on the podium delivering results and disseminating the data-backed information that your product has to offer.
Opportunities to Engage:
These KOLs shine as primary or sub investigators in clinical studies and are great for publishing. They have read all of your studies and the competitor’s studies as well. Get them involved early to help develop study protocol and incorporate the voice of the customer early in process. This is often your “go-to” KOL for speaking engagements as well. Workshops, podiums, booth presentations…they have the presenter chops and expertise to be a credible advocate.Ways to Nurture:
Help them brush up on public speaking skills necessary to deliver study results — offer training opportunities to enhance their podium presence. Keep them engaged throughout the year and at major shows so they don’t fall prey to competitors. -
The Trainer
Technically Skilled. Approachable. Process-Focused.
These KOLs are efficient champions of technique. Not only are they frequent users of your device, they’re diligent about learning how to use it correctly and passionate enough to promote it. As far as KOLs go, these people can often become your teammates, working with you on educational programs to train new users and share best practices with their peers.
Opportunities to Engage:
Education is a large part of your marketing budget, so you need faculty for peer-to-peer proctorships, cadaver labs, live courses, and workshops. These all call for someone who is a natural facilitator that is good with process. This KOL also has a fondness for teaching and sharing knowledge — and hopefully for your product as well.Ways to Nurture:
Develop a comprehensive training program for your faculty KOLs – one that covers everything they need to know about the product and builds public speaking skills, enhances business expertise, and expands their digital horizons. Provide them with opportunities to grow their skills and they may help you grow your business. -
The Marketer
Tech-Savvy. Creative. Expert.
KOLs that understand and care about marketing are diamonds in the rough. They can contribute to product value discussions even before your marketing messages are finalized. Having that voice of the customer involved early is crucial to positioning your product beyond just safe and effective.
Opportunities to Engage:
These important key experts can effectively impact uptake by acting as the voice of customer early on. They can help with product usability, industry trends, competitor insights and market research. Pull them in downstream, too, when creating brochures and other sales collateral. Be sure to engage these experts before they are enlisted by a competitor.Ways to Nurture:
Identifying up-and-comers in the field can be critical. This focuses marketing resources on KOLs who will have a long-term impact on product adoption and creates opportunities for future leaders. -
The Innovator
Inventive. Research Driven. Resourceful.
This is an internal facing KOL who will not seek the spotlight — you know the one. They walk right past the marketing group and head for the R & D department. Creators who love to think outside the box, they often approach things with an engineer-like mindset. They are a valuable consultant who looks for ways to improve your product and add new ones to your portfolio.
Opportunities to Engage:
Advisory boards, product testing and development, research opportunities. They are looking for opportunities to pitch new ideas and move technology forward.Ways to Nurture:
This type of KOL is most comfortable doing behind the scenes work, so getting them involved as a consultant, doing one-on-one sessions with executives and making them feel valued through engaging them in the technical side of things will help grow and sustain the partnership. -
The Influencer
Digitally Fluent. Collaborative. Engaging.
What does a medtech influencer look like in the digital age? Researching the online communities in your industry will be critical to identifying digital influencer KOLs. They may be on public platforms like Twitter or in groups and forums on social platforms that are sometimes private and require invitation. Once you know where people are building community and sharing information online, you can determine the experts and potential moderators you want to nurture. And hopefully some of those people are already on your roster.
Opportunities to Engage:
Opportunities can start with leading virtual advisory boards or webinars. Once you build the relationship, discussions can be had around sharing information and advocating for your brand online. Peer-to-peer recommendations in these virtual communities can be very impactful and this KOL can be a positive voice for your brand when you can’t be there.Ways to Nurture:
Are they ready to take their advocacy offline? Maybe this KOL is comfortable behind a computer screen but needs some guidance on becoming a leader in the industry outside of the digital jungle. Act as a resource to help them grow professionally, and they may be able to start filling other roles. -
The Leader
Industry Veteran. Influential. Impartial.
The identified authority of subject matter — this KOL may not be a direct promoter of your product but the industry embraces them because of their credibility and unbiased nature. Well-connected with associations and healthcare companies, they have their finger on the pulse of the medtech space. Their long history and high level of engagement in the field allows them to see the future of healthcare better than anyone. Their proven track record means that when they say something, people take note.
Opportunities to Engage:
Often these KOLs are no longer practicing and are on speaking tour. They may have never actually used your device, but they can still speak to the value of your product in the market. Their expertise is highly valuable on advisory boards where they can work with executive leadership to take your company to the next level. On podiums they can be a credible voice to demonstrate how your device fits into the medtech ecosystem. These visionary-type KOLs know where healthcare is going and can help keep your company on track to success.Ways to Nurture:
With almost a celebrity-like status in the field, the Leader KOL is best nurtured by CEOs and Executive teams. They can act as medtech business consultants and their expertise and influence can undoubtedly move the market in your favor.
Established & Emerging
In addition to identifying your KOLs, assessing their strengths and creating an engagement plan that fits their skills, you should also keep experience in mind. Keeping a balanced mix of well-established experts and up-and-comers is crucial to the sustainability of your program.
There will undoubtedly be overlap with these categories. Maybe you’ve found that rare KOL that does all of these things for you or performs several of these roles well. But these are some important categories to think about when building out a successful KOL strategy that helps you make a big impact in the market.