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Biotechnology & Life Science Marketing FAQ
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Life Sciences & Biotechnology Digital Marketing Strategies
Biotechnology and Life Sciences industry is a liberator for humankind. With increasing human population, there is a huge turnout rate of people suffering from ill health and the technological advancements in the industry are responsible for their quality care and treatment. Hence, it becomes crucial for the industry to reach out to an appreciable larger audience for the betterment of society. The services provided by the industry must be available all over the world to serve the people who need them. But how is it possible to outstretch and cross more boundaries? A simple and proven answer – Digital Marketing.
Digital marketing plays a significant role in growing small startups to extending large corporations. Biotechnology and Life Sciences businesses are emerging with a considerable variation in their success. But in spite of its innovative progress, it fails somewhere in adopting a digital approach towards expanding its services. Consequently, it is ignoring a widespread and greatest medium of communication with its target audience – the Internet. If your business is one of them, then you must be very well aware of the fact that a digital marketing strategy that can drive more sales and leads for your business is a must.
As a matter of fact, there are numerous digital channels that you can adopt to promote your Biotechnology or Life Sciences business online. But which ones are most effective for this industry in 2019? You will be answered right here.
In this article I am going to discuss the top digital channels for Biotechnology and Life Sciences that work today and if done right will provide explosive results. This article will function as a complete guide to your Biotechnology and Life Sciences digital marketing strategy. This guide will save you time and resources from having to test out different digital marketing channels to find out what works and what does not work.
The Right Approach for Digital Marketing in the Biotech & Life Sciences Industries
For you to perform digital marketing for life sciences resources, it is important to make sure that your Biotech marketing strategy is well researched and properly structured. You need to follow a step by step procedure to implement your strategy in the business. But for that, you have to develop your strategy in a way that guides you in the right way. You have to focus on every small niche of your business to let it grow into a significant one. For this to work you should look into the insights of your business carefully and find out the areas which need more of your attention and development efforts. You also need to have a robust tactical plan that makes your business stand out among the rest. Planning is the key to implement a successful digital marketing strategy.
Begin by identifying your business goals. For instance, does your business want to gain more leads, sales or increase its brand exposure. Now, be careful while interpreting this. Those are all different goals, targeted towards accomplishing different tasks and a digital marketing strategy is based around those goals. Once you know why and for what purpose are you strategizing your marketing you would be able to plan it on the right track. In addition to it, you would not miss the important details to be worked on.
After that, you can develop a marketing strategy that aligns with your goals. A strategy that meets your desired goals will definitely prove to be the reason for the growth of your business. Proceed to identify the characteristics of your product that are unique from those in the general market. This is also referred to as a Unique Selling Proposition or USP. This is recommended because if you would not highlight your product’s unique attributes your audience would not be able to differentiate your business from others that are offering the same services. The former needs the best services from those available to them and they look for distinction in every choice. You have to point out how your products and services handle the challenges that your target clients face. In this way, you can package your product as a viable, strategic solution to all those challenges in a descriptive manner.
Marketing in the life sciences sector requires you to have a firm understanding of the methodology which scientific clients utilize to find, choose, buy and use products or services in their work. You need to know your audience properly. As biotechnology and life sciences marketing is a completely different classification of marketing you have to follow an entirely different method. The main reason behind this is the target audience as in the life sciences sector the audience has logical and scientific minds. Therefore, your strategy must have the capability to align with those intellectual minds.
One of the Critical Challenges every Biotech Company Faces is Effectively Marketing their Products
Related Content: Dispensary Marketing Agency
Expensive marketing methods like billboards, banner ads, magazine and television ads burn a lot of cash and don’t provide a considerable ROI. Within the last couple years, I have spent hundreds of thousands of dollars and generated millions in sales marketing in the Biotechnology industry.
This marketing strategy has helped my former companies to gain more customers and in turn generate more sales. In this article, I am going to share how – step-by-step you can market your biotechnology company or startup, get thousands of loyal customers and earn millions worth of revenue.
Let’s Break the Whole thing Into 2 Categories Inbound Marketing and Outbound Marketing
1. Inbound Marketing:
Inbound marketing strategies revolve more or less around driving traffic to your website and inducing a sale or lead. Let me break it down further for easy understanding. The number one inbound marketing medium you should be focusing is GOOGLE.
(Figure 1: Screenshot of the $36,000 in monthly FREE organic traffic from Google I generated to the Biotech website.)
a. SEO: Search Engine Optimization (SEO) are a set of practices that helps you generate higher rankings on search engines like Google. Billions of people round the globe use search to look for products and solutions. By using the right SEO strategy, you can rank in the first page of Google for relevant keywords like “Liquid biopsy kits, Proteins or Reagents” etc.
(Figure 2: Screenshot of the top 3 spots in Google which my former client owns. I don’t just settle for 1 top spot my goal is to take over the entire front page.)
b. PPC: By listing your ads on search, partner websites, YouTube, Gmail, etc. you can market your products and services on them and pay a small amount for every click that redirects to your website through these channels. I focus on the search network because it provides the best ROI for the Biotechnology industry.
c. Content Marketing: Content marketing is the number one trending marketing technique of 2019. By default, a well-written piece of content induces trust and stamps your authority in the segment. When you write content that answers most of user queries and doubts, your target customers treat you as an industry expert. This strategy works in every industry especially in Biotechnology. In 1 year, I took the Biotech company I was working for from $0-$420K in FREE organic annual traffic with this same exact strategy. Apart from blogging, content can mean videos, press releases, infographics, etc.
(Figure 3: Biotechnology press release I published for the business in Reuters.)
2. Outbound Marketing:
Outbound marketing is interruptive and pushes itself at an audience. Examples of outbound marketing are cold calling, email blasts, TV and Radio Ads. In the Biotechnology industry these types of outbound marketing will not work. The Biotech audience is intelligent and does their research online before making a purchase.
My recommended outbound strategy for the Biotechnology industry is using LinkedIn to prospect and connect with key decision makers. LinkedIn has a robust internal search engine; upgrading to Sales Navigator will give you more features and filters which are useful in targeting decision makers.
Next, we then build and nurture the relationships by being authentic, engaging (liking and commenting) and offering informational based content to position ourselves as the industry expert. The key here is to share valuable content and ensure that the content does not sound salesy.
Finally when the time is right we ask for the sale.
Digital Marketing Channels for Life Sciences & Biotechnology Industries
Nowadays, clients follow an entirely different method to search for the information they need. Gone are the days, when they used to wait for someone to serve them information right on their doors. Instead, they focus on the channels that are easier to look through. Rather than searching for company websites, they opt social media platforms, for instance, to get useful resources for their job. Mass media alone cannot work for the progress of your brand among your clients. Their clicks search for the conveniently accessible services and this is how inbound marketing helps.
Inbound marketing in simple words is a productive blend of marketing channels like social media, content marketing, and SEO that is absorbed on drawing your clients’ attention towards your business and its services. This is a digital marketing strategy which boosts your brand awareness online. It increases the amount of traffic that you receive, conversions made and engagements which are confirmed. Inbound marketing helps you to attract prospective clients using helpful material on your website. By using newsletters, you can proceed to connect with them further.
Through inbound marketing, you can connect with your biotechnology and life sciences clients who are already searching for a solution to a specific problem that they’re experiencing. As such, they will be immediately interested in the products or services which you are offering as soon as they land on your website. Overall, inbound marketing helps you to attract, engage, close and maintain clients.
The website that appears on the top of a search engines page is the first choice of an information seeker. Hence, the first objective of any business is to increase its visibility online and make its services rank on the top of all others. Undoubtedly, Search Engine Optimization is the only way to achieve this.
Search engine optimization is a method of increasing the organic ranking of your website in search engines like Google. This is done by making your website search engine friendly through a process called, “On page optimization”. SEO services span a much larger area of methodologies required to optimize your website in the right way. You just have to go through your website and mark the weak points that prevent your website to rank high in the search results.
Another way to further improve the search engine ranking for your biotechnology and life sciences website is to acquire relevant and authoritative backlinks. Studies have shown that many Internet shoppers prefer to visit the first few links that emerge in the results pages. As such, having your website rank high increases your Internet visibility and can lead to more conversions as well as higher revenue.
Our world comes together on social media. People share their stories, pictures, videos and events on these platforms. As such, social media is an ideal place to market your website. It has proved to be the most relevant and important part of a digital marketing strategy because of the benefits that it provides in reaching out to millions of potential customers worldwide. And if you miss this opportunity in your marketing plan then you are leaving money on the table. Social media is an excellent tool to use for Business to Customer (B2C) or Business to Business (B2B) interaction.
The success of any marketing campaign depends on the approach that you take to accomplish it. Defining goals is important but how would you work to achieve them is what matters the most. So is the case with Social media marketing campaigns. If designed in the right way they can surely lead to significant achievements. But how?
Post high quality content about your news, new products or events about your life sciences enterprise on your dedicated business page. Your followers can view the posts and respond by sharing or making purchases. When people share your posts, they are indirectly contributing to your marketing campaigns by making it visible a wider audience. Not only does social media increase your Internet brand awareness, but it also boosts your search engine rank. This is because all major search engines consider social media shares when ranking a website. You can see how all these channels are interrelated in meeting a specific objective.
Also known as lead generation, content marketing is a method of digital marketing which provides information about general topics that are related to the biotechnology and life sciences products that you’re offering. These topics are guided by customer preferences and the feedbacks they provide after making a purchase. Moreover, the topics provide information that helps the customers solve some problems that they could be facing. They are capable of instructing them in the right direction to use the available resources. It is a constructive material which mentions how your product or service can solve their problem. As such, content marketing is all about the intrinsic needs of the customer. It follows a data-driven marketing strategy.
Notably, content marketing establishes trust between you and the customer. You can speak to your audience a lot about your products and services with your content. In this way, it inspires a loyal readership and repeats purchases as well. You can achieve much more than this with well-planned content creation and then marketing.
With the advent of the digital era, people are adapting to more and more technologies that make them apt to survive in this era. Emails are one of those initiatives rather options available to them. The present business scenario signifies that email communication has simplified business interactions to a great extent. Whatever be the sort of information sharing, emails provide the ease for reaching out to the right audience at the right place and at the right time. Furthermore, the support provided by smartphones today has geared up email communication. And so, businesses all over the world are relying mostly on email marketing for promoting their services worldwide.
Ever since the establishment of online business, email marketing has been a core method of marketing products or services. It is supremely effective because it delivers the marketing material directly to the client’s inbox. What is more satisfying to a marketer when his product reaches directly to the intended customer. Email marketing is efficient and can assist you to accomplish larger e-commerce goals for your biotech or life sciences company. It demands just the right strategy for accomplishing your goals.
For you to get started with email marketing, the first step is to add an option for subscription to newsletters in the social media page or your website. After that, use the subscribers’ email addresses to create a list. When you are done with this, proceed to use the list for sending autoresponder email messages. The goal of email marketing is to convince your subscriber to read more of your content and hopefully make a purchase.
Direct Response Advertising
In simple words, Direct Response Advertising means marketing in a way that a client directly switches to take action in response to your ads. When you advertise, you expect your clients to request further details regarding your services. The direct response means they perform this action as soon as they read your advertisement. When you do not have time to wait for the results of your marketing campaigns and then decide on further process, Direct Response Advertising is the way out.
Direct Response Advertising is a method of active digital advertising which can be implemented for life sciences products and services. It essentially involves paid advertisement media which emerge when customers are browsing the Internet. If implemented in an intelligent way, it can drive more sales for your business.
Direct response advertising makes use of these channels to help businesses reach out to a larger audience:
Display advertising involves the creation of video advertisements and banners. This should not be mistaken with Pay Per Click advertising (PPC). Unlike search ads, display ads appear when your customers are searching online on YouTube, Gmail, or using mobile apps. Both types of ads are intended to increase brand awareness, increase sales and leads but follow different methodologies.
The great thing about display ads in your biotech digital marketing strategy is that they are cheap and have the ability to reach a large audience. Google display network reaches as far as 90% of the web. With optimizations such as remarketing keywords and demographics you can be sure that your targeting the right audience for your brand. The people who are going to take notice and and take action.
Affiliate marketing is where you request other webmasters to put your ads in their sites. Whenever a client that is of your interest visits their website, he would be able to see your ad and if he finds it relevant, he is likely to visit your website. It is a more customer centric method of advertising in which you reach out to the target audience in an indirect way. For this, you need to know the online activity of your clients.
By doing this, you can figure out which websites they are likely to visit. After that, you can pay those webmasters a commission every time one of their visitors clicks on your ads and visits your website.
A good biotech and life science digital marketing strategy is doing email outreach to convince potential affiliates who have high ranking digital assets. This is a win win for both parties; for the publisher there already receiving traffic to a page or post and will now have the ability to monetize it. For the Biotech and Life Sciences company they will receive a new channel for potential leads and sales.
Digital Marketing for Biotech and Life Science Works!
For your life sciences or biotechnology organization to thrive in today’s digital age, it is necessary to perform digital marketing. The necessity of digital marketing can be witnessed by the success of businesses that already have one. Apart from this, a proper strategy needs to be developed to make it work as you demand from it. When you have a well-defined and documented strategy for your marketing goals it would be convenient for you to achieve them in the right way. Moreover, you can keep track of your progress and make sure that nothing is left behind while implementing your methods. A business succeeds if it has a pre-planned structure of its goals and procedures. Marketing to the Biotechnology industry is no easy task however if you follow these tried and proven strategies you will be ahead of the competition. Learn more about our digital marketing prices and packages and hire an experienced life sciences marketing agency.