In the world of life sciences, marketing is the lynchpin between innovation and long-term impact. It’s not just about selling a service or product; it’s a process that requires spreading knowledge, building trust and driving improvement in an industry that plays such a large role in ensuring human well-being.
The life science sector is very broad as it encompasses pharmaceutical, healthcare and biotech technologies and covers a time frame that ranges from early discovery efforts to clinical trials and regulatory approvals to commercialization. The life science industry requires marketing to increase brand awareness and the number of inbound leads, effectively launch products that can benefit human health, and attract key industry players. However, it is worth noting that life science marketing presents certain challenges that we will discuss in detail below.
High stakes
Life science marketing is not something to be taken lightly, as the services and products provided by this industry are very important to the health and well-being of individuals and communities around the world. In the life science sector, there is a high need for ethical responsibility as well as precision, which means that errors should be as minimal as possible. This does not mean that life science marketing always requires total formality (that is a bad habit that is generally true in B2B marketing), but rather it is a matter of remembering the importance of your human audience.
Specialist audience
When we talk about the audience, it’s important to remember that they’re incredibly technical. That’s why marketers in the life sciences industry need to explain a scientific concept in a way that balances accuracy and simplicity while still resonating with experts. While the content should make the audience roll their eyes by simplifying it, there’s also a danger if you make it too technical (after all, they spend a lot of time reading technical documents, so they’re grateful for easy-to-understand information that doesn’t force them to try harder). In other words, the best approach is to keep it smart, yet simple to grab the audience’s attention.
Rapid technological innovations
The life sciences are at the forefront of technological development, with new drugs and treatments being developed all the time, so marketing strategies must evolve quickly to keep pace with these advances and break down complex scientific ideas into understandable concepts that resonate with laypeople.
Regulatory hurdles
Another major challenge in life science marketing is the regulatory environment, which can be quite strict. Since a large part of the marketing process involves educating the target audience, it is important to stay informed of the latest safety standards and guidelines. While life science marketers are not liable for regulatory compliance unless they are marketing a proprietary medical device, having knowledge of regulatory compliance can be helpful as it allows you to add value to your target audience.
How do you approach life science marketing to ensure success?
Life sciences marketing can be difficult to navigate given all the challenges that exist and the factors that need to be considered throughout the process. Fortunately, market research can make it easier for companies to understand and interpret a complicated reality and create a business plan that will help them succeed. Market research is used in many ways in the life sciences industry, such as for data management, quality control, and research and development, to name a few. However, since it can be quite difficult to conduct effective market research on your own, it is always advisable to hire a team of experts like Savanta to set your company on the path to success. After conducting market research, it will be easier to develop a marketing strategy that will bring long-term success, and there are a few strategies you can use for this purpose:
Content and video marketing
Educating your audience about life sciences (and their interest) is a crucial part of your marketing strategy. There are some effective tools you can use to convey valuable information, from blogs and white papers to guides and emails. This content can help you gain your audience’s trust by providing them with knowledge and valuable insights, helping your company establish itself as a thought leader in the industry.
In addition to content marketing, video marketing can also be really useful and provides an ideal platform to simplify complex medical and scientific concepts that are generally difficult to understand. Animations, clear explanations and visual aids help life science companies break down complex processes and medical procedures into easily digestible content, educating the audience while ensuring that the content is more accessible to everyone.
Thought leadership
As a life sciences marketer, one of your main priorities should be to build trust within the community. The best way to do this is to demonstrate a deep understanding of the community. You can advance your thought leadership by attending industry trade shows, webinars, workshops, conferences and seminars where you can share your knowledge through public speaking engagements.
Another good approach is to participate in discussions on social media or other relevant platforms where you can share insights and engage with stakeholders and colleagues, which will ultimately help you gain credibility and recognition.
Multi-channel approach
Successful life science marketing requires a multi-channel approach, as having a presence on different platforms increases your brand reputation. Some channels we recommend for life science marketing are LinkedIn, Facebook, and Twitter, which can be valuable for sharing updates and engaging with your audience. And let’s not forget your website, which is essentially your company’s virtual home and should provide visitors with detailed information about your services and products, as well as educational content.
It is also a good idea to use online advertising through LinkedIn Ads or Google Ads, which can help you reach a specific audience and increase website traffic. Finally, online forums and communities can also build trust, as they allow you to discuss various healthcare topics with professionals and patients.
Localized Marketing
The life sciences sector operates globally, but healthcare and patient needs can vary by region. That’s why it can be helpful to implement localized marketing, tailor your campaigns to specific markets, and ensure your messages resonate with local audiences.
Additionally, this approach can help you navigate the opportunities and challenges that may arise in each region, leading to greater market penetration and engagement.
The conclusion
Marketing is essential to any type of business, and life sciences is no exception. The role of marketing in this industry is to bridge the gap between complex concepts and the needs of a specialized audience. Whether your company is looking to market services or a new product, staying one step ahead is always a key requirement for long-term growth.
