Just like most sectors, the life science sector has witnessed its fair share of technological advancements and evolutions. In fact, the technological advancements in life science keep evolving and the present digitalization and AI revolution has not spared this sector.
Whether you are promoting cutting-edge research, innovative medical devices, or pharmaceutical breakthroughs, understanding the unique challenges and opportunities within the life science sector is crucial.
Discover how to effectively leverage online platforms, harness the power of data analytics, and build lasting relationships with key stakeholders, with the insights and strategies outlined in this guide.
The Evolution of Life Science Marketing
In the ever-evolving realm of life science marketing, staying ahead of the curve is essential for success. Using the latest trends in life science digital marketing and content strategy to the best practices for reaching a highly specialized audience, the strategies and techniques for marketing in this sector have been revolutionized by some trailblazers and pacesetters.
Adapting quickly to new technologies and understanding how to effectively reach niche B2B audiences online have become critical capabilities for companies looking to promote their innovations in the life sciences space.
From the days of radio jingles, TV broadcasts, and print, the techniques of life science marketing kept changing continuously. And now, marketing is done through different digital techniques. Marketing now revolves around the internet.
Unlike how radio jingles are advertised to the whole world, digital marketing can be tailored to target a certain set of people who are likely to buy what is being marketed, and that makes digital platforms more successful.
In addition, sending personalized content to your target helps to boost engagement and sales. This would not have been possible in the days of television ads and radio jingles.
Data-gathering is only possible on digital platforms. Sending a general piece of ad to everyone no longer cuts it. Today, it’s just a mere waste of resources.
If an ad is viewed by 150 people and 50 of them make purchases, it’s better than an ad that’s viewed by 1,000 people but yields only 65 sales.
One great digital ad technique that’s been changing the game in life science marketing is pay-per-click (PPC). You get to pay for only the ads that get clicked and viewed. Now, let’s talk about the best practices.
Best Practices in Life Science Marketing
The success of life science marketing on digital platforms depends on certain principles. Get the principles right and your campaigns will be successful. Get them wrong and your ads will struggle. Find the principles below.
- Comply with regulations – Digital platforms are regulated. Make sure you comply with the regulations of all your chosen marketing platforms. For instance, you should never make false claims to attract buyers. You could be banned from the platform or face litigation.
- Establish authority – Generally, people abhor adverts. Keep providing useful information in related fields. That way, you’ll establish yourself as an authority. And when you’ve gained people’s trust, you can now leverage the credibility to promote your services or products.
- Build partnerships – Partner with key opinion leaders and social influencers. Many of them have huge social media followership. They can easily convince their audience about your brand.
- Track your performance – Of course, your first ad campaigns will not likely be the best. You’ll need to continuously make adjustments and keep improving. That’s why you need to track and analyze your ad campaigns. To understand the ones that are doing well and the ones that could use some improvements.
By following the principles, you’ll always make the best of your life science marketing campaigns.
Emerging Trends in Life Science Marketing
This sector has enjoyed its fair share of technological advancements. Let’s discuss the areas in life science marketing that make use of contemporary technologies.
- Social Media Marketing – YouTube, Instagram, X (Twitter), and Facebook have become great marketing tools. Players in the life science industry now create multiple social media accounts for their businesses. They use the platforms to engage their prospects and also promote their businesses.
- Virtual Reality – The technology helps to give prospects and customers an immersive brand experience. And this brings them back again and again.
- Artificial Intelligence – Chatbots created from AI technology can now engage prospects and answer inquiries.
Tips for Effective Life Science Marketing
- Understand your audience – You can only find out the pain points of your audience if you understand them. Besides, your ads will resonate with them better if you use their preferred lingos and leverage their beliefs. So, it is necessary to understand your audience.
- Adopt multiple platforms – Don’t confine your ad campaigns to only a single platform. Your prospects are scattered around. If you run ads on only Facebook, you’ll miss out on all the prospects on Instagram, YouTube, TikTok, and X (formerly Twitter).
- Monitor industry regulations – Rules and regulations keep changing regularly. Google continuously changes its algorithms regularly. So, to remain on top, you have to monitor the regulations and quickly comply with them.
- Keep learning – Learning never stops. So, you need to continue learning and training your employees on the best ways of doing things.
Case Studies: Success Stories in Life Science Marketing
Case #1 – Leveraging Influencers on Social Media
The manufacturer of a drug decided to partner with some reputable medical practitioners to explain how the drug works. The video got over 250,000 views.
Case #2 – Giving useful information
A year prior to the launch of a drug, a pharmaceutical company created a blog on the diseases that the drug was formulated to cure. They started making weekly blog posts about the diseases.
They talked about the causes, symptoms, prevention, and how to manage the drug. And when the drug was launched, they presented the drug as the most effective drug for the diseases. Within a few months over 1,000 sales were made.
Case #3 – Establishing of Authority through Content
A new tattoo artist built a knowledge reservoir of ebooks and videos and also started a blog about tattoos. He was able to present himself as an expert who knew a little more than his competitors. The technique earned three times more site traffic, downloads, and shares.
Frequently Asked Questions
How can life science companies ensure compliant marketing strategies?
The best way is to involve regulatory and legal experts in the planning of their marketing campaigns.
What role does social media play in life science marketing?
Social media platforms create mediums for engaging prospects and marketing life science products/services.
How can life science companies measure marketing ROI?
They need to track all the necessary metrics. In addition, they need to compare the cost of each campaign to the amount of sales it yields.
Follow the current life science marketing trends, keep learning, and continue to monitor the industry. Most importantly, evolve along with the marketing techniques and you’ll always remain on top.