Just as marketing is unique to the previous markets/industries we talked about, it is also unique when it comes to the life sciences or scientific arena. I would bet you, that more companies than not don’t hit that home run when it comes to telling their overall story in this market. There are those few that do, but for the most part, if you are not intimately involved in the market, you’re likely to get very overwhelmed by the jargon and the wealth of information. So I decided to search and learn about the best marketing methods, and mistakes, when it comes to marketing to the life sciences market.
What I quickly learned, and agree with, is that often times, a company gets pigeon holed into only being known for its product(s) and not its overall solutions. That’s all I’ll say about that but I do want to point you in the direction of a fascinating article that has me jotting down notes and wondering if I should rethink the way I’ve been thinking.
The Brand vs. Product Marketing Paradox in the Life Sciences article goes through some of the pitfalls of ineffective marketing:
1. “Truth is, the majority of the marketing resources that scientific companies expend are for product promotions. Very little attention is paid to brand building.
2. Product-marketing leads to company becoming synonymous with a technology, limiting its actual potential.
3. Product-based messages raise the baseline noise.
4. Market forces define the company’s brand.
5. A study published in Harvard Business Review has profound implications about the power of brands to motivate people towards action, and the adverse effects that promotional headlines have on customer behavior. In short, it is actually possible that brands can generate demand with far more efficiency than product marketing activities.
6. Companies don’t actually have to choose between brand-vs-product marketing. They can do both. But it takes more than marcom-level template-enforcing. It takes action.
Companies can build their brands through product marketing, by focusing on the content of their programs and encouraging an experience for their customers, instead of just saying their value proposition.
The first step is to develop a content model and a campaign architecture that engages with scientists and encourages them to experience the value proposition. The Content-Centric Marketing for Science is one such framework.”
Is your mind blown a bit? Will you rethink your marketing strategy even if you’re not in the life sciences field?
Here is one more nugget from the Content Centric Marketing article:
“Most marketing messages for scientific products and services provide only logical feature/benefit statements, failing to engage the scientist’s emotion or ego. The key is to know when and how to engage either a scientist’s emotion, or his/her logic or ego during the buying journey. This can be approached by mapping how the archetypal scientist consumes information.”
“The goal of marketers should be to develop information that removes any impediments for scientists to move swiftly from stage to stage in their own buying journeys, all the while becoming predisposed to the company’s way of thinking. It is important to remember that scientists need to make their own conclusions at each stage, rather than being told what to think and how to act.”