Some biotech companies treat marketing like it’s some Field of Dreams fantasy world, where their science would be enough to make their dreams come true.
The biotech industry is highly competitive, as are most drives. This means that marketing must be done well to make the novelty of science shine.
The founders and executive teams of biotechs often are so focused on their science that they misunderstand how implementing a digital strategy will fund their research.
In this article, I will discuss the areas that should be considered when prioritizing digital marketing efforts.
Prepare to emerge from Stealth Mode. Now what?
You’ve now decided to market your biotech brand after your clinical trials were successful. Your focus is on the biotech audience that you want to reach, which could include investors, partners, and healthcare professionals (HCPs).
It would help if you first focused on determining the most popular channels where each buyer persona hangs out. This will help you reach them. This is a short primer on creating B2B Buyer Personas.
- Find out who your decision makers are in relation to your offer.
- Interview the decision-maker and gain insight into how they make their purchase decisions.
- Discover where they spend the most time on digital platforms.
After compiling the information, you will be able to focus on digital marketing strategies that target one or two of your potential buyer personas, such as investors or partners.
Biotech Multichannel Marketing Opportunities
Gartner estimates that B2B sales representatives get only 5% of the total time spent by prospects on a purchase. This is because most buyers do their research before making the first call. They gather information, watch you on social media, and interact via different channels, all before contacting you through a form.
To gain the trust of your buyers, investors, and partners alike, you need to use multiple channels.
In biotech, the following four channels are most effective.
Email – Events
The biotech industry conferences remain one of the top places to meet people and network. While exchanging business cards is a great way to network, the real goal is to hold on and nurture those prospects.
Add your contacts to your CRM once you have had an in-person interaction. Segment them. Then, create a newsletter that is tailored to your segment. This will help you keep your brand in front of prospects, remind them why they are relevant, and share updates about your company.
If you want to impress potential partners with your work, then regular updates about your clinical trials, your scientific progress, or your influential team members may be useful. In your newsletter, include a call to action to encourage readers to visit your website. Those who click will be likely to be your most engaged contacts.
Social Engagement and Thought Leadership
The majority of people who follow your LinkedIn profile, the leading B2B social network, are unlikely to ever engage with you. This does not mean that they don’t care about what you share. LinkedIn is a great way to remind people that you’re a thought leader in your field, a subject matter expert, and someone who can be trusted.
Focus on a single message when you are marketing your biotech via social media, whether it’s LinkedIn or another platform where your prospects congregate. As an example, all of my LinkedIn posts are about biotech marketing for new companies. This way, I can attract a targeted audience.
You are not talking to anyone if you use social media to communicate with everyone.
Pay for Content Distribution
Today, most brands need help getting their content into the hands of the right audience. Paid content distribution–whether via social media, Google Search, or industry journals–can give you the boost you need to get in front of your buyer personas.
To make the most impact, I recommend native advertisements in industry magazines.
Most industry publications offer native content, where your promoted content is seamlessly integrated into the media site. Native placements are more trusted because of the inherent prestige that journals have.
Content Marketing
Content marketing is the option most likely to generate clicks. SEO-focused content is the best way to support content marketing. Keyword research will reveal a high volume of monthly searches for your topic.
A McKesson blog on viral vector manufacture, for example, ranks for almost 300 keywords, according to Ahrefs Software, and is the number one keyword for search engine traffic. It also drives engagement and brand awareness.
The content at the top of the funnel does two things very well.
- McKesson is introduced to visitors who were previously unaware.
- This allows visitors to find out more about McKesson services that are relevant to the topic. It could help move prospects further down the sales funnel than a paid-for channel.