FemTech – A Digital Revolution Transforming Women’s Lives
With around 50% of the global population as target customers and market potential above $75 billion by 2025, the Women's technology health market is rapidly evolving and growing. In 2020, there were more than 1000 start-ups in addition to established tech companies in the FemTech market, all creating products and technological solutions to address women's health care needs.
Tech innovations in this sector include wearable and clinical devices, diagnostic appliances, products, platforms, software, apps, and services. All are providing disruptive digital solutions within the women's healthcare market.
The stigmatisation of women's reproductive health, the menopause taboo, and the historical exclusion of women from medical trials have led to gender bias in healthcare. Shocking, though it may be, women's health needs have been an afterthought.
For example, women wait 7.5 years on average for an endometriosis diagnosis and two years for a polycystic ovary syndrome (PCOS) diagnosis. Meanwhile, both conditions have a profound effect on women's day to day lives, negatively impacting their physical and mental wellbeing.
In addition, 70% of people affected by chronic pain are women – but research shows that doctors often view women with chronic pain as emotional compared to men who are brave or stoic.
Female technology innovations hold the key to breaking the barriers that have previously led to gender health disparities and own the solutions to resolving women's unserved health needs. Although still a relatively new industry, with many untapped opportunities, the sector greatly transforms women's lives by directly connecting women to the healthcare solutions they need.
Women's health tech expands access to equitable medical care, creates awareness of general wellbeing, addresses taboos, and empowers women.
Technologies have started to meet women's needs in the following areas:
- general healthcare
- mother and baby health
- family planning and fertility
- women's sexual wellness
- mental health
- longevity (including menopause solutions, female oncology, management of chronic diseases and care of the older woman).
However, lack of investment in Femtech remains the main barrier for development in this market, in addition to insufficient R&D funding and lack of public support.
To address these challenges so that the sector can grow and flourish, FemTech innovators and entrepreneurs must:
- increase their brand recognition and awareness;
- improve their customer experience (and education), and
- continue to develop innovative health tech solutions – expanding into new markets.
So, as an innovator in this space, how can you stand out from the competition, increase brand recognition, and gain more visibility online?
We at Arttia Creative understand that as a women's health tech innovator, you are busy building your business, learning new skills to stay ahead of the competition, developing health solutions, and surviving the global impact of the Covid-19 pandemic. Finding the time to have a coffee can be a challenge, let alone creating a digital marketing strategy.
We share your excitement in bringing innovative technologies into the healthcare arena and can partner with you to create a world-leading women's health tech website and branding that speaks to a diverse and discerning female audience.
Healthcare businesses and brands often make the mistake of marketing themselves to a generic female audience, overlooking how a woman's identity closely connects to her experiences at each life stage. What she responds to and purchases changes as she does. No two women's life journeys are the same. Women are your market, but you cannot rely on traditional stereotypes or outdated demographic categories that will turn women away from your brand.
As a FemTech entrepreneur, how can you raise brand awareness, build trust, improve your customers’ online experience and keep them coming back for more?
So much of what happens online revolves around content. It's how you get found, why people pay attention and how you start to exchange value. The modern female audience is wise, intelligent, and more complex than traditional marketing personas show. Their differences influence their worldview. Race, age, language, socioeconomic status, sexual orientation, religion, and how these identities overlap are all significant factors.
FemTech brands need to focus on a woman's specific needs, answer questions, offer solutions, and start a conversation. Website content aimed at a female audience should be written through an inclusive lens, respecting diversity, leading with humanity and showing empathy while creating a message that resonates, entertains, and educates.
One of the most overlooked strategies for marketing to women is storytelling. Integrating women’s stories into your website content and messaging can help your brand reflect and connect with women in and outside of your target market.
Stories help people connect with your company, product/service and brand on an emotional level. Good stories are informative while easy to follow, honest and show personality. Sharing women's challenges and triumphs helps to create a sense of community. A community that supports, educates and empowers women. And when women feel part of a community, their loyalty and enthusiasm for your brand increases.
Conversations, chats, personal connections, creating a dialogue are the lifeblood of building any business. People buy from people. And none more so than women. So, make time to talk.
However, writing scientific content in a conversational way can be a challenge. Specialist skills are required to distil complicated, multi-layered sales messages and promotions in a marketing or storytelling style to attract and retain a female audience.
At Arttia Creative, our hand-picked team of professional website content writers and copywriters are skilled in creating engaging content for women's health. To deliver the sector-driven results you need, our team works closely with you to fully understand your business, the positioning of your technological innovations within the women's healthcare market, and the specific female audience you need to reach.
There is growing interest in FemTech solutions. However, women’s health still only attracts a small percentage (4%) of global life science tech investments. In addition, more than half of all FemTech companies are seed-stage and have revenue of less than $10 million.
How can you reach decision-makers, fuel investments, and develop new partnerships as a health tech innovator?
The FemTech industry can be challenging for investors to understand because it is relatively new and complex. And the lack of an established track record of sizeable exits may contribute to why the industry is not getting significant venture capital funding.
But as 66% of working-age women seek healthcare information online, spend 29% more per capita on their health than men and are 75% more likely to use digital tools for healthcare, the market is far from niche and offers clear investment opportunities.
But even though female technology advances to serve women's unmet health needs, there is still a lot of work needed to educate investors, making them aware of the positive impact that FemTech solutions have on women's health and wellbeing.
As an innovator in the women's healthcare sector, how can you educate a prospective investor before you pitch?
Your FemTech website is not only the go-to place for potential customers to learn more about your brand, services or products; it is also one of the first places a potential investor goes to learn more about why they should invest.
At Arttia Creative, our team of experts can help you think like an investor so that your website addresses the key elements that investors look for and puts you on a path towards securing the capital you need.
What’s your value proposition?
We can help you showcase your women’s health tech innovations, highlighting market positioning and USP?
Are you already achieving market traction and disruption?
Do you have industry-leading partnerships? If an established company already backs you, perhaps a high-tech life science business, evaluating and participating in an investment opportunity is easier for an investor. We help you ensure your message is clear.
Are you already thinking like an established FemTech brand?
We know how to optimise your website, increase traffic, generate leads, and make more sales. Modern lead-capture systems such as subscriptions and calls to action signal to the investor that you understand the importance of growing your customer base and actively pursuing customer acquisition.
Do your About page and Team profiles shout ‘we have the expertise to build a successful women’s healthcare business’?
Venture capital firms that invest in early seed stage rounds make the most significant investment in you and your team, not the product. They invest in people and their confidence in them to build and execute their ideas.
The Takeaway.
Our specialist team has experience and expertise in the health tech and med-tech industries. We understand how to reach a diverse female customer base and help you attract investors to drive your business forward, positively impacting women's lives nationally, internationally, or on a global scale. We partner with you to get your project off the ground quickly and deliver the sector-driven results you need faster
Belinda White | Creative Director
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