Developing Marketing Strategy Initiatives to Enhance Customer Acquisition and Customer Retention for MedTech Startup (Case Study: Riliv)

Abstract

In response to increased consumption, the MedTech market in Indonesia, which includes applications for mental health services, has experienced phenomenal growth. However, customer acquisition and retention have emerged as significant obstacles for businesses such as Riliv, a prominent mental health service application. This study seeks to identify the factors that influence and improve Riliv user acquisition and retention among non-users, current users, and former users. A quantitative research strategy employing descriptive statistics and a non-probability sample of 200 respondents were utilized. To capture data, the Likert scale questionnaire was distributed online. The research included both internal and external analyses (STP, 7Ps of the marketing mix, and VRIO) as well as PESTEL, Porter’s Five Forces, competitor, and customer analyses. The SWOT and TOWS analyses were then conducted. The findings highlight the importance of effective promotional activities, competitive pricing, and superior product quality and service in attracting and retaining Riliv users. Increasing brand recognition, enhancing product attributes, and ensuring service quality have been identified as crucial factors positively influencing consumer acquisition and retention. Riliv can implement strategic marketing initiatives such as targeted advertising, influencer collaborations, refined messaging, content marketing, personalized experiences, trial periods, referral programs, and continuous engagement in order to overcome these obstacles. By adopting these strategies, Riliv can position itself as a dependable online mental health services provider and accomplish sustainable growth in the highly competitive MedTech industry.