MWR - Getting to a valuation, page-68

Marketing the Life watch is a pretty key issue. The TAM is not all seniors as things currently stand. Some will qualify for government assistance packages which offer free approved devices. This is limited from what I can ascertain to those above 80 years old who meet certain criteria, and the devices are relatively basic but very reliable safety devices. My mum is in that age group, but she doesn't meet the criteria - she is not frail enough! If we were able to get approval as a device that the government funded under that program it would be a complete game changer with huge impact on valuation of the company.
The marketing problem we face is that most of our seniors don't go to the internet or into the market place looking for alternatives if they don't qualify for assistance. If they feel they need a product and have the resources to buy it, they are likely to pay up front for one of the devices that they know about via the government program. Another great reason to be a product that is approved for government funding!
So in my view, that means that marketing has to be directed to both seniors and their children. To seniors in the more "traditional" places like TV and print advertising - even posters in doctor's surgeries. Online marketing and social media marketing needs to be directed to people like me who can say to their parents, "Hey, have you seen this? It might be what you are looking for." In my case, my Mum's interest is certainly there for this device, but like many of her age she wants to see it and have its use explained to her before she would feel comfortable about using it - all fair enough.
I agree that it would be good to get a bit of a plan from the company at an appropriate time.