Q&A with Matthew Ray Scott: Redefining Medtech Marketing

In this issue of Caricature Conversations, I sit down with Matthew Ray Scott , the visionary founder of FEED. The Agency , a creative powerhouse that has transformed the landscape of medtech marketing. With nearly thirty years experience within the medical device and healthcare space, Matthew shares his inspiring journey, the evolution of FEED, and invaluable insights into engaging busy doctors with medical device solutions. Moreover, he offers a glimpse into the key trends that will shape the healthcare and medical device industries in the coming years.

What inspired you to create FEED and how have the goals of the agency evolved since then?

It was more than just a nudge for me; it was a push. The sequence of events began with my layoff. I was part of a co-development team that established a biotech company, which we eventually sold to Medtronic. That was a positive outcome.

Afterward, I decided to take a two-year sabbatical, and I approached my wife with an unconventional proposition. Imagine turning to your wife and saying, "Hey! I'd like to take a break from work and attend culinary school." When your wife responds, "So, you want to become a chef?" and you reply, "No, I simply want to improve my cooking skills, even though it will cost us $72,000." Your wife's reaction might be, "Oh my gosh."

However, my wife relented, and at the end of those two years, the CEO of the company we had previously sold reached out to me. He asked me to return to San Diego and assume responsibility for sales and marketing. I accepted the offer and remained loyal. Yet, this is where the story of FEED begins.

During that time, we encountered a setback when a clinical trial failed. I have no regrets about being laid off; it was understandable. When a clinical trial fails, and there's nothing to sell or market, laying me off seems appropriate. Nevertheless, this setback served as the push I needed. The concept of FEED had always been in the back of my mind. We'll discuss it shortly. I envisioned a creative agency that would collaborate with surgeons, assisting them with branding and avoiding the pitfalls of marketing. That was the genesis of the original concept.

Initially, our focus was exclusively on being a physician brand agency, and we remained in that niche for the first five years. As we celebrate our thirteenth anniversary this year, we have expanded our scope. Today, we not only lead the branding efforts for specialty surgeons but also collaborate with top orthopedic, spinal, neurosurgery, and other medtech companies. Our evolution lies in transitioning into the storytelling business. What I've discovered is that while medtech excels at selling products, we struggle when it comes to sharing compelling narratives. The shift we observed, particularly during the COVID era, was that surgeons no longer made product choices solely based on intellect but also empathetic factors. They sought products they could understand clearly, rather than simply opting for the best.

Nowadays, our work is significantly different. We collaborate with medtech companies to develop campaigns centered around brand storytelling and sales enablement. Video content has become our primary medium because it serves as a modern-day medtech sales and marketing agency that never sleeps. Videos possess the unique ability to engage busy surgeons and physicians like no other medium. This encapsulates the evolution from where we started to where we are today.

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What do you consider to be the most important lesson you've learned since starting FEED?

On a personal level, here's what I've learned. I had a strong desire to become what I refer to as a lifestyle design entrepreneur. Essentially, I grew tired of the medtech sales and marketing model with its bundled contracts, internal and external politics, and all the associated bureaucracy. Despite feeling this way, I still have a deep love for healthcare. Apart from my military experience, my entire career has revolved around the healthcare industry. However, I became weary of the bureaucratic obstacles we often created for ourselves.

On the personal side, I embarked on a journey to become a lifestyle design entrepreneur. This means that I can choose where I want to live, increase my income without needing a promotion, work flexible hours with people I genuinely enjoy collaborating with, and no longer be bound by rigid parameters. In essence, I've created a thriving business. We have established locations in Italy, Portland, San Diego, and northwest Arkansas, with further growth underway. I have built an agency of exceptional individuals, and our primary goal is to have a fulfilling life outside of work, engage in meaningful work, and eliminate the modern-day concept of bureaucratic organization. That's the essence of my personal journey.

On the professional side, the most crucial lesson I have learned is that the medtech industry should focus on solving problems rather than merely selling products. In today's landscape, medtech companies that transcend the realm of commodities have the potential to establish entirely new categories. Within the medtech community, we find talented individuals who excel at designing products, alongside marketers whose primary objective is product promotion. However, those medtech companies that choose to position themselves as problem solvers and creators of new perspectives will distinguish themselves from the vast sea of commodities in their approach to marketing and sales. This is the valuable insight I have gained since the inception of FEED.

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What advice would you give to medical device companies and sales reps looking to engage busy doctors with their products, technologies, and solutions?

Here is the advice I would give to medtech sales representatives seeking to engage busy doctors: The common misconception is that doctors are primarily interested in new technology. However, a psychological profiling approach reveals that doctors are truly interested in solutions. Unfortunately, the medtech industry has become known for selling product features, which is not aligned with what doctors actually desire. I know this because I have asked doctors the same question you posed to me: "What advice do you have for medtech companies to differentiate their products when approaching you?" Interestingly, their answers are remarkably similar. We have a medtech market that focuses on selling products, which is a mistake. This approach is essentially treating medical technology as a commodity.

Now, let's discuss the impact of COVID. Many people believe that COVID solely resulted in social isolation and reduced industry contact with doctors. However, the truth is that doctors experienced a surge in emails and phone calls from medtech sales representatives. Here's what doctors had to say: "The price for being boring is that I will ignore you." My advice to sales reps is that they have not changed their approach since I started in sales back in 1994. Sales representatives today are still stuck in traffic, driving long distances to deliver brochures to gatekeepers, or leaving voicemail messages. This outdated method is what they are still relying on.

My advice to medtech sales representatives is that the bottleneck lies in their inability to effectively engage busy doctors from the start. Contrary to popular belief, you will never hear me ask a doctor for an appointment. When I speak to medtech companies, I am allowed to refer to myself as "old school" since I am 59 years old. However, there may be someone who resembles me, but is far more outdated, insisting that you must verbally ask for an appointment. But here's the truth: doctors have passed organic chemistry, and they know that sales reps have something to sell. Every doctor in America is well aware that medtech sales representatives are attempting to persuade them to make a purchase.

So, what has changed for medical sales consultants? Doctors have become aware of this fact, and every sales rep is doing the same thing—asking, "Can I bring in lunch? Can we meet?" Therefore, personalized videos are the most effective way to quickly establish a sense of "know, like, and trust" and differentiate yourself. When you consider all these factors, you realize that medtech companies are all doing the same thing, focusing solely on product marketing. However, what they fail to recognize after COVID is that doctors do not make purchasing decisions based solely on intellect. These decisions are made empathetically, rooted in the relief of problem-solving.

Medtech sales representatives need to shift their approach. Doctors are seeking solutions, not just products. After COVID, the old methods no longer hold the same effectiveness. Personalized videos can help develop rapport and differentiation. Remember, doctors make purchasing decisions based on problem-solving and pain relief, not just intellectual appeal.

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What key trends do you think will impact the medical device industry most in the next five years?

You're familiar with the buzzword "value-based care," right? Doctors everywhere are talking about it, but most of them don't really understand what they're saying. Personally, I'm a big fan of value-based care. However, I believe that the majority of doctors and surgeons will soon regret championing this concept because they are not willing to freely share their problem-solving approaches and patient outcomes without compensation. Surgeons, in particular, are not enthusiastic about that idea.

Consequently, we can expect to see a growing divide between hospital-based employee surgery and private practice, with fewer and fewer physicians opting for private practice due to their reluctance to compliantly and creatively share their practice's perspectives that may or may not align with patient expectations. This disconnect can be anything, and I think value-based care will end up favoring physicians who understand how to align outcomes with the patient experience. In my experience, surgeons genuinely care about quality patient outcomes, but they struggle to articulate their process for creating a positive patient experience. Therefore, I believe that value-based care will become a misnomer, and we will witness the emergence of creative directors in the field.

Shifting gears to medtech marketing, currently, if a marketer at a medical device company wants to advance their career, they focus on selling the most and being the best product marketer who designs visually appealing brochures and 3D animated videos. However, the future of medtech lies in rewarding exponential thinking and growth, not just incremental innovation. To achieve that, we need creative individuals. I predict that in the near future, the top medtech companies will seek out creative talents from agencies like Saatchi & Saatchi and Wieden & Kennedy, even if these individuals have limited healthcare experience. They will become creative directors, bringing in fresh ideas that will disrupt marketing strategies in the industry.

Lastly, I foresee the decline of the old-school salesperson. They simply won't survive in the changing landscape. We currently have financially rewarded salespeople, often earning six-figure salaries, who primarily focus on case coverage. However, medtech companies will eventually reevaluate their spending and realize the high costs associated with wining and dining doctors. This will lead to a shift towards modern-day marketing techniques that generate attention and reduce dependency on traditional relationships based on personal favors. The days of thinking, "We can't let go of Jack because he buys bourbon for Dr. Stevens every Friday night" will gradually fade away.

Learn more about FEED. The Agency. at: