Ofer Tirosh, CEO and Founder of Tomedes12.09.22
Statista reported that France’s digital health and telemedicine industry is expected to grow 8.55% from 2022 to 2027, which will amount to 4.15 billion USD by 2027. With France becoming the world’s leading telemedicine market, many international entrepreneurs seek to enter it to take part in the action.
However, you will need a market penetration strategy to help you successfully establish yourself within France’s market. If you want to learn more about the French market and how machine translation can speed up French translations for your telemedicine company, then keep on reading!
For this reason, France is one of the best places where telemedicine companies can build and expand, as it has one of the best workforces in the world. Besides that, if you’re planning to build a startup as a Telemedicine provider, the French government is very supportive of foreign entrepreneurs through policies.
For example, startups with the Young Innovate Companies certification label are given a 1-year income tax exemption and partial exemptions for those dedicated to Research and Development for the next seven years.
The French Ministry of Research also assists startups through competitions, Tax Credits from the Banque Publique d’Investissement (BPI) and Honorary Loans.
It’s no wonder why many would want to enter this market. If you can successfully penetrate the largest telemedicine market in Europe, you can get a footing in expanding into other European countries.
Market penetration is when you measure the amount of a product or service used by your customers and then compare it to the estimated total market for that product or service.
So, when it comes to market penetration strategy, it is when you develop a plan to increase sales with your preexisting product or service. Due to this, it's one of the most effective ways of determining if you have successfully entered a market as it presents numbers and figures.
How to calculate market penetration will depend on the number of customers that purchase a service or product compared to the rest of the estimated market. The formula for this is: (Number of Buyers / Target Market Size) x 100 = Market Penetration Rate.
A rule of thumb for getting the market penetration rate is to calculate it after every marketing campaign, as it can determine whether the campaign made an impact.
As for all official documents, you will need a certified French translator. Since they're certified in handling French translation services like Visa applications, business registration, patenting, and other documents needed for legal compliance, it's not just for business compliance and residency that you will need professionals in French translation. Still, you will also need them when you start operating and selling your products.
One of the fastest ways to obtain French translations and have them immediately implemented across various mediums is by utilizing Machine Translation (MT). However, you will need certified French translators managing over MTs to ensure that the French medical translations are accurate and adhere to the French government's standards.
We have listed a couple of tips and considerations you will have to make when establishing your telemedicine services in France, as follows:
If your business specializes in telehealth and telemedicine, communication and dissemination is the primary service you will provide to your French users. You will need French translations for your software, websites, and apps.
Because of this, you will need to conduct feasibility studies on your users and create surveys for the French patients who will be using your technology and the French medical professionals. This will save you time and money once you've set your market penetration strategy into motion.
For French Intellectual Property, your application will depend on what niche it will fall under. What matters is that it's new, involved in an inventive step, has industrial application, and can be patentable.
In applying for IP, you will need professional English to French translation on all your documents, like the model, the research papers, the manuals and instructions for the device, etc.
Use your market research as you develop your technology for the French market. Since the government is pushing forth to make health care and medical services more accessible to the public, there are great opportunities for telemedicine technology like remote monitoring devices, medicine dispensers, virtual stethoscopes, etc.
This will help you in identify and work with local vendors and sellers. During your research, you should learn about French cultural business practices to make transactions run more smoothly.
Under these laws, your business must follow protocols to ensure that if a data breach occurs, it will minimize the damage. With your native French translator, they can provide certified translation services from English to French on all official documents related to this and other documentation needed for your business to be fully operational in France.
By creating a French content market strategy, you're creating brand awareness and directly impacting your users' impressions. Due to this, you will need marketing professionals from French translation services who could create relatable content with MT.
The success of your market penetration will depend on how you implement a marketing campaign and establish yourself as a telemedicine provider, like what problem your telemedicine is addressing or solving in the French market that competitors have overlooked.
1. Create a Feasibility Study on the French Market
2. Consider the Linguistic and Cultural Aspects
3. Strategize the French Distribution Structure
4. Customize Telemedicine for Your Users
5. Develop a Multilingual Content Marketing Strategy
6. Have an eCommerce Site and App
7. Customer Relations in the French Language
8. Complying with Local Laws
9. Promote Your Brand's Innovative Accomplishments
Ofer Tirosh is the CEO and founder of Tomedes, an international translation agency that offers certified French translation services to SMEs and Fortune 500 companies worldwide. For over 15 years, they have provided French language translation services in the medical field, such as localizing software, translating medical documents, and remote medical interpretation.
However, you will need a market penetration strategy to help you successfully establish yourself within France’s market. If you want to learn more about the French market and how machine translation can speed up French translations for your telemedicine company, then keep on reading!
Why is France a Prominent Figure in the Global Telemedicine Sector?
France is at the forefront of innovation from telemedicine providers. It’s not surprising as French Healthcare reported that in 2021, the French market generated 30.7 billion Euros in revenues and 10 billion Euros in exports. France has over 1,440 medical device and telemedicine businesses, and about 93% are SMEs.For this reason, France is one of the best places where telemedicine companies can build and expand, as it has one of the best workforces in the world. Besides that, if you’re planning to build a startup as a Telemedicine provider, the French government is very supportive of foreign entrepreneurs through policies.
For example, startups with the Young Innovate Companies certification label are given a 1-year income tax exemption and partial exemptions for those dedicated to Research and Development for the next seven years.
The French Ministry of Research also assists startups through competitions, Tax Credits from the Banque Publique d’Investissement (BPI) and Honorary Loans.
It’s no wonder why many would want to enter this market. If you can successfully penetrate the largest telemedicine market in Europe, you can get a footing in expanding into other European countries.
What is Market Penetration Strategy?
Before discussing the considerations when entering the French market as a telemedicine provider, let's first define what market penetration strategy is.Market penetration is when you measure the amount of a product or service used by your customers and then compare it to the estimated total market for that product or service.
So, when it comes to market penetration strategy, it is when you develop a plan to increase sales with your preexisting product or service. Due to this, it's one of the most effective ways of determining if you have successfully entered a market as it presents numbers and figures.
How to calculate market penetration will depend on the number of customers that purchase a service or product compared to the rest of the estimated market. The formula for this is: (Number of Buyers / Target Market Size) x 100 = Market Penetration Rate.
A rule of thumb for getting the market penetration rate is to calculate it after every marketing campaign, as it can determine whether the campaign made an impact.
Make French Translation the Center of Your Strategy with Machine Translation
Since we've established why France is the perfect market for your business, the language barrier is one of the primary obstacles you will experience. Based on the data, only 20% of the French population is fluent in English, while 40% can only make basic conversation.As for all official documents, you will need a certified French translator. Since they're certified in handling French translation services like Visa applications, business registration, patenting, and other documents needed for legal compliance, it's not just for business compliance and residency that you will need professionals in French translation. Still, you will also need them when you start operating and selling your products.
One of the fastest ways to obtain French translations and have them immediately implemented across various mediums is by utilizing Machine Translation (MT). However, you will need certified French translators managing over MTs to ensure that the French medical translations are accurate and adhere to the French government's standards.
We have listed a couple of tips and considerations you will have to make when establishing your telemedicine services in France, as follows:
Create a Feasibility Study on the French Market
Like with any market, you will need to do significant research on the French market. The telehealth and telemedicine market as of 2022, it's worth around 2.6 billion USD.If your business specializes in telehealth and telemedicine, communication and dissemination is the primary service you will provide to your French users. You will need French translations for your software, websites, and apps.
Because of this, you will need to conduct feasibility studies on your users and create surveys for the French patients who will be using your technology and the French medical professionals. This will save you time and money once you've set your market penetration strategy into motion.
Customize Telemedicine for Your Users
Copyright and Patent are crucial for those in the telemedicine market because Intellectual property (IP) rights vary from country to country.For French Intellectual Property, your application will depend on what niche it will fall under. What matters is that it's new, involved in an inventive step, has industrial application, and can be patentable.
In applying for IP, you will need professional English to French translation on all your documents, like the model, the research papers, the manuals and instructions for the device, etc.
Use your market research as you develop your technology for the French market. Since the government is pushing forth to make health care and medical services more accessible to the public, there are great opportunities for telemedicine technology like remote monitoring devices, medicine dispensers, virtual stethoscopes, etc.
Strategize the French Distribution Structure
During your feasibility study on the French market, you will need to thoroughly examine the two market segments: (a) stationary ( the private and public hospitals) and (b) outpatient (consisting of pharmacies, home care, and para-pharmacies).This will help you in identify and work with local vendors and sellers. During your research, you should learn about French cultural business practices to make transactions run more smoothly.
Develop a Multilingual Content Marketing Strategy
With a translator and MT, you mass produce multilingual content and create an effective strategy so you can promote your product more effectively to the French market. We advise that when you decide to work with translators specializing in French language translation services, they are marketing experts to get the best quality of content.Have an eCommerce Site and App
If you already have an eCommerce platform, you can seek to translate your website and apps from English to French. You can hire a translator who knows how to use MT effectively when creating an eCommerce website and app ready for the French digital market.Customer Relations in the French Language
Suppose you're planning to connect with your French customers and build trust with them. In that case, you will need to have a French-speaking customer support team, as 71.5% of heads of customer service said that having their support team in the native language of their customers increased satisfaction. It makes sense as no one can trust a company that can't assist or provide aid when issues arise from the product they're using, leading to a decrease in the repurchase of said product.Complying with Local Laws
Your telemedicine business must adhere to the EU and France's data privacy laws. Any personal data and information obtained must be properly disclosed to the users, like the reason for storing sensitive information and its usage.Under these laws, your business must follow protocols to ensure that if a data breach occurs, it will minimize the damage. With your native French translator, they can provide certified translation services from English to French on all official documents related to this and other documentation needed for your business to be fully operational in France.
Promote Your Brand's Innovative Accomplishments
It's not enough that you have a wonderful product and have it straightaway distributed to stationery and outpatient segments in the French market.By creating a French content market strategy, you're creating brand awareness and directly impacting your users' impressions. Due to this, you will need marketing professionals from French translation services who could create relatable content with MT.
The success of your market penetration will depend on how you implement a marketing campaign and establish yourself as a telemedicine provider, like what problem your telemedicine is addressing or solving in the French market that competitors have overlooked.
Summary
France is a country you should consider looking into if you're a telemedicine company or an entrepreneur looking to create a telemedicine startup. With machine translation, you can create a market penetration strategy centering on the French language, as follows:1. Create a Feasibility Study on the French Market
2. Consider the Linguistic and Cultural Aspects
3. Strategize the French Distribution Structure
4. Customize Telemedicine for Your Users
5. Develop a Multilingual Content Marketing Strategy
6. Have an eCommerce Site and App
7. Customer Relations in the French Language
8. Complying with Local Laws
9. Promote Your Brand's Innovative Accomplishments
Ofer Tirosh is the CEO and founder of Tomedes, an international translation agency that offers certified French translation services to SMEs and Fortune 500 companies worldwide. For over 15 years, they have provided French language translation services in the medical field, such as localizing software, translating medical documents, and remote medical interpretation.