Principal Consultant Carlton Hoyt recently sat down with Chris Conner for the Life Science Marketing Radio podcast to talk about decision engines, how they are transforming purchasing decisions, and what the implications are for life science marketers. The recording and transcript are below.
Transcript
CHRIS: Hello and welcome back. Thank you so much for joining us again today. Today we’re going to talk about decision engines. These are a way to help ease your customer’s buying process when there are multiple options to consider. So we’re going to talk about why that’s important and the considerations around deploying them. So if you offer lots and lots of products and customers have choices to make about the right ones, you don’t want to miss this episode.
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BioBM conducted a survey of 61 life science commercial professionals to assess their opinions of conferences, conference spending, revenues derived from conferences, and trends related to conferences. The results are in the newly published “Scientific Conferences Survey Report” now available for free download.
The report seeks to shed light on a number of key questions surrounding conferences. Considering the massive costs and increasing ability to digitally and inexpensively reach a hyper-targeted audience, are conferences really still worth it? Are we over-investing in them at the expense of higher-ROI opportunities? How does spending on conferences compare to the revenues generated from them? What differentiates high-performing exhibitors from others? How will exhibition spending change in the near future? Will virtual conferences play a significant role in the short- to mid-term future?
Some of the results are shockingly clear and many provide valuable insights. To preview the document or download your copy, visit the report page.
In continuation of its mission to empower life science marketers with valuable resources to aid them in their jobs, BioBM has published an attribute analysis template.
An attribute analysis is a powerful tool used to identify competitors’ positions within a market and a critical analysis when positioning a product, service, or brand. It both helps to identify key differentiators and shows how crowded or competitive any particular position is. The MS Excel-based template provided by BioBM, which is accompanied by detailed instructions, will make attribute analyses much simpler and easier for novices and much less time consuming for veterans.
The attribute analysis template may be requested at https://biobm.com/resources/attribute-analysis-template/
The ACP-LS annual meeting is the only time of the year when you can surround yourself with the best minds in marketing and sales of life science tools and services! This year’s meeting will be held on Thursday, September 18th and Friday, September 19th at the Boston Marriott Quincy in Quincy, Massachusetts. As a “Friend of BioBM” you can receive $250 off registration with this link.
BioBM Principal Consultant Carlton Hoyt will be hosting one of the breakout sessions which will wrap up the ACP-LS Annual Meeting on the afternoon of the 19th. This session will focus on developing superior customer experiences and using them to achieve and maintain strategic brand advantages that drive customer preferences in your favor and improve your bottom line.
If you would like to see the meeting agenda, you can do so here: http://www.acp-ls.org/agenda
BioBM Consulting has published a new paper entitled: “Superior Experiences – How Small Life Science Companies Can Out-Compete Large, Established Competition.” This paper describes why customer experience can be a comparative strategic advantage for smaller life science companies and why many large companies fail to provide excellent customer experience, details the foundation for strong, branded customer experiences, and discusses what makes for an experience which imparts value onto the brand. Life science marketers who read the paper should gain a better understanding of some of the fundamentals of branding, customer experience, and how the two are closely tied to one another.
Keeping with BioBM’s mission of providing resources to the life science marketing community, “Superior Experiences” is available free of charge. To learn more about the new paper, to preview it, or to request a copy, please visit: https://biobm.com/idea-farm/reports-papers/
BioBM Consulting has published a new paper which outlines the current problems facing scientists when attempting to make a purchasing decision, the negative impacts this is having on scientists, and how decision engines can be leveraged to create transformational change within life science markets. “How Decision Engines Will Reshape the Life Science Buying Journey” explains why information has become the enemy of purchasers and suppliers alike, explains what decision engines are and how they are already creating disruptive change in other markets, and outlines a general framework for creating decision engines.
All with all BioBM papers, “How Decision Engines Will Reshape the Life Science Buying Journey” is available free of charge to all those in the life science tools & services industry. To learn more about the new report, to preview it, or to request a copy, please visit: https://biobm.com/idea-farm/reports-papers/
BioBM Launches the Nexus Worldwide Life Science Distributor Directory
New Low-Cost Service Allows Life Science Suppliers to Readily Discover Targeted, Relevant Distributors in Specific Markets of Interest.
Boston, Massachusetts, USA, January 22, 2013 – BioBM Consulting has announced the launch of BioBM Nexus, a fast, low-cost, self-serve distributor discovery service allowing manufacturers of life science tools to find relevant, targeted distributors in their geographic markets of interest. This service is rooted in BioBM’s distributor directory, which contains information on over 2300 global life science distributors.
Statement from Principal Consultant Carlton Hoyt
Finding an appropriate distributor for your product line can be a tedious, time-consuming, and difficult process. Many distributors are not readily found through standard methods such as internet searches, making the performance of a thorough search difficult and imprecise. Our Nexus Worldwide Life Science Distributor Directory provides life science tools manufacturers with near-instant access to distributors which match a number of important criteria, thereby not only saving time but increasing the amount of distributors a manufacturer has to choose from. Being able to identify all the relevant distributors within a target geography allows manufacturers to find a better fit and ultimately improve revenues and market penetration within that geography.The Nexus service allows manufacturers to search for distributors based on country, product specialization, and the type of sale required (e.g. consumable vs. capital equipment). The price to perform a distributor search is $175 + $25 per distributor listing generated, and all listings are manually verified to ensure they are current before they are provided.
To use the Nexus or learn more about the Nexus service, please visit https://biobm.com/nexus/.
About BioBM Consulting:
BioBM Consulting is a highly specialized marketing, distribution, and communications agency serving small and mid-sized life science tools and services companies. BioBM excels at maximizing ROI by combining deep industry knowledge with a broad skill set and keen understanding of the needs of smaller companies, enabling us to provide solutions of unmatched value for our clients.
LifeSciPR Relaunched
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Association of Commercial Professionals – Life Sciences and BioBM Consulting Announce LifeSciPR, A Press Release Service Specifically for Life Science Tools and Contract Research Organizations.
New Press Release Service will Provide Improved and Lower Cost Distribution to Relevant Channels and is Free During the Beta Release.
Boston, Massachusetts, USA, November 25, 2013 – The Association of Commercial Professionals – Life Sciences and BioBM Consulting have jointly announced the launch of LifeSciPR, a press release distribution service specifically for contract research organizations and suppliers of life science tools. This new press release service will provide greatly improved targeting for those companies who wish to target life scientists in academia, pharmaceuticals, biotechnology, and related industries, while at the same time providing superior value.
Statement from BioBM Consulting Principal Consultant Carlton Hoyt
Prior to LifeSciPR, life science tools and services companies had to either use untargeted press release distribution channels or piggyback on channels meant for the pharmaceutical or biotech industry. These channels are insufficient at reaching the media channels and audiences that our sector wants to reach. As an agency committed to helping life science tools and services sector better reach their desired audiences, it is a pleasure to collaborate with the ACP-LS to provide a press release distribution solution which addresses the specific needs of companies in our sector.Statement from ACP-LS President Chuck Drucker
The ACP-LS is committed to providing opportunities to assist commercial professionals in the life sciences, and LifeSciPR is a clear extension and manifestation of that goal. We are enthused that we can offer this resource to the life science community such that they can utilize a press release service designed for them instead of one designed for the companies they sell to.LifeSciPR is currently in open beta release, during which LifeSciPR will be free to all users within the life science tools and services sector. All interested parties are encouraged to sign up at www.LifeSciPR.com.
About the Association of Commercial Professionals – Life Sciences:
ACP-LS is the premier organization of all life science commercial professionals (sales, marketing, business development, client services, commercial operations, technical support, etc.) dedicated to selling and marketing to organizations that discover, develop, and manufacture pharmaceutical, biopharmaceutical, medical device, and diagnostic products and therapies.
About BioBM Consulting:
BioBM Consulting is a highly specialized marketing, distribution, and communications agency serving small and mid-sized life science tools and services companies. BioBM excels at maximizing ROI by combining deep industry knowledge with a broad skill set and keen understanding of the needs of smaller companies, enabling us to provide solutions of unmatched value for our clients.
New SEO Paper Published
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BioBM Consulting has published a new paper on search engine optimization entitled “9 Things Every Life Science Marketer Should Know About SEO … and How Smaller Companies Can Achieve Big Search Engine Ranks.” This white paper discusses nine aspects of SEO which we believe every life science marketer should be familiar with. Additionally, at the end of the paper is bonus content on how smaller or younger companies can compete with the big guys and achieve breakthrough SEO results. Considering that almost every life scientist utilizes internet search at some point in their buying journeys, this is critical knowledge for any life science marketer.
This white paper is freely available to all those in the life science tools & services industry. To learn more about the new report, to preview it, or to request a copy, please visit: https://biobm.com/idea-farm/reports-papers/
BioBM Consulting has released a new paper on life science marketing strategy, entitled “Marketing Strategy for Life Science Start-Ups: A practical guide to the most important and least understood things that founders and CEOs need to know to effectively generate demand.” This white paper discusses many elements of marketing strategy for life science start-ups or for existing companies developing new product lines or services, and provides a practical, do-it-yourself style focus on areas that are most commonly problematic for small life science companies.
This white paper is freely available to all those in the life science tools & services industry. To learn more about the new report, to preview it, or to request a copy, please visit: https://biobm.com/idea-farm/reports-papers/