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Tag : Life science sales

Prepare for the Contact

Improve your personal customer communicationsA lot of focus goes into optimizing marketing activities. That focus is important and very helpful in numerous ways, but all the A/B testing and conversion optimization in the world gets flushed down the drain as soon as a customer actually contacts your company. Not nearly as much effort goes into improving customer contacts. Perhaps this is because person-to-person interaction inherently has some degree of variability, or because sales and support staff are expected to be highly competent at customer interactions, or because people don’t realize that customer interactions can be optimized. Regardless of the reason, life science companies need to realize that customer communications can be improved, and there are a number of definite (and often relatively easy) ways to do so. We discuss some below.

Improve Response Times

There have been many studies which have shown that lead qualification rates drop off massively over time. Even a matter of seconds has been shown to have a significant impact in qualification rates. A study of lead response behavior found that 36% of inquiries were not responded to at all within a two-week time frame. Yet response times are something which companies have direct control over.

Technology can be used to assist to some extent. Automated lead distribution – and in particular automated lead distribution to multiple agents simultaneously – has been shown to have the greatest impacts on conversion rates, with rates over twice as high as when there is no automation to assist in lead distribution.

If it really comes down to it, hire more people. Considering that leads which are contacted within an hour are 7 times more likely to be qualified as those which are contacted even one hour later, the cost / benefit ratio seems to be well worth it. Seven times more qualified leads not only means about 7 times as much business (or at least something in that ballpark) but it also means that your sales staff’s time is seven times more efficient when contacting leads.

It’s not only about sales, however. Support inquiries are equally as important, as they contribute significantly to overall customer experience which in turn affects customer loyalty. This should not come as a surprise.

Arm Your Customer-Facing Employees with Information

Too often, the quality of a customer interaction is most directly related to the experience of the person the customer is interacting with. Newer employees are often less knowledgeable and therefore are often not as well suited to assist the customer. Training can only help so much.

To combat this problem, ensure that you maintain a well-curated body of knowledge for your sales and support teams. Having ready access to information, such as past issues and their solutions, will your customer-facing employees more efficient, reduce the time it takes the customer to get a good answer, and improve the customers’ experiences when interacting with your company.

Provide Consistent Experiences

Although not as important in terms of short-term demand generation, the consistency of customer experiences plays strongly on brand perception. Inconsistent experiences, even if they are largely positive, can have a disruptive effect which conflict with each other rather than building on each other. To some extent, customer interactions should reflect a degree of branding.

I’m not recommending that life science companies take it to this much of an extreme, but a great example of branded customer interactions comes from Mailchimp, which has voice & tone guidelines for customer interactions. While I find the Mailchimp example to be a bit much – certainly far more defined than what many life science companies would need – it’s both reasonable and practical to set general voice and tone guidelines while also ensuring consistency in finer details such as email fonts.

When thinking about optimizing your marketing, think beyond the standard channels and consider improvements in actual customer interactions. While these activities may traditionally be the sole responsibility of the sales and support business areas, they may not often take as structured an approach to improvement as marketing commonly does, especially when considering aspects such as customer experience and branding. By making improvements to actual customer interactions, customer satisfaction, customer retention, and opportunity conversion will all increase while delivering positive brand value as well.

"Is your company providing an excellent customer experience – across ALL touch points? If not, or if you’re not certain, give us a call. Our life science marketing experts will help shape the experiences that your company provides into superior customer experiences that improve brand value, increase marketing ROI, and create a strategic advantage for your company."

End of Solution Sales

In our Marketing of Life Science Tools and Services group on LinkedIn, we recently discussed an article in the Harvard Business Review on “The End of Solution Sales.” While this is an excellent article and I suggest reading it, we’ll focus on one key finding: that “[…] customers completed, on average, nearly 60% of a typical purchasing decision — researching solutions, ranking options, setting requirements, benchmarking pricing, and so on — before even having a conversation with a supplier.” This is just the beginning, but it does highlight something of key importance for marketing that is not discussed in the article.

If 60% of the purchasing decision is concluded before interaction with sales, marketing needs take responsibility (and claim the opportunity) for satisfying customers’ self-driven quests for information.

As the default behavior of B2B consumers is changing to include more self-fulfilled quests for information, life science marketers must make the necessary information to drive their target audience’s purchasing decisions available. The ability to predict the information that will be necessary, as well as the downstream ability to shape content to the audience’s measured behavior, is of increasingly critical importance. Marketing campaigns need to be able to respond dynamically to collected data on prospect behavior if the appropriate content is to be delivered at the appropriate time. A content roadmap becomes an even more critical component of generating demand. These factors collectively drive the importance of performing market research / marketing research, developing a clear marketing strategy, and planning a content-driven campaign.

If B2B purchasing decisions are 60% made by the time a conversation w/ supplier occurs, this places more of a responsibility on life science marketers to shape opinion before that first conversation. More planning is required, however such planning will have an increasingly positive effect on marketing ROI. Furthermore, we can conclude that marketing campaigns driven primarily by awareness-generation efforts will continue to decrease in effectiveness.

"Is your marketing strategy prepared to carry customers most of the way through their purchasing decision? If not, you’re losing out on sales – and chances are your losses are accelerating. When you’re ready to turn your marketing around and capture more demand, talk to BioBM. Our life science marketing consultants will help you analyze your markets, create concrete strategies and plans, and develop marketing campaigns that drive sales and profitability within your organization."

Marketing & The Cost of Sales

Efficient life science sales operations require that opportunities are handed from marketing to sales at the correct point in the buying cycle. When there is a lack of proper marketing support, leads often get handed over to sales too early, creating situations where sales effort is wasted, leading to operational inefficiencies in sales. The symptoms caused by underdeveloped leads are usually three-fold:

  1. Sales conversion is low because of poor lead quality which is ultimately due to underdeveloped leads. This situation often leads to sales and marketing pointing fingers at each other.
  2. The sales cycle is prolonged, requiring more overall effort from sales and, therefore, increased costs
  3. Leads will go cold at a high rate


The opposite effect, where sales effort is insufficient or too much is left to marketing, is also possible. Recent research suggests that it may actually be common and also cause decreased conversion and wasted sales effort. Regardless, the method for diagnosis is similar.

If you are creating a lot of leads but not closing a lot of opportunities then you may be under-nurturing (or over-nurturing) your leads. Compare your marketing contact points to your content roadmap (you may need to design a content roadmap if you do not already have one). A content roadmap based on strategy and market research should provide a complete picture of the information requirements of your target audience. Like a blueprint for a house, the content roadmap will provide a framework for creating leads and, subsequently, nurturing your leads into qualified opportunities. Overlay that framework onto your current marketing campaign and ask: Are you delivering all of the necessary content? Is sales delivering content that marketing should deliver (or vice versa)? At this stage, the difference between what you are doing and what you should be doing should be clear.

"Alignment of marketing and sales is a critical component to maximizing demand. Poor cooperation between these departments can cause distrust and poison an organization’s ability to convert. If you’re looking to more effectively lead your customers through their buying cycle, feel free to call us at BioBM. We can help ensure that your marketing and sales departments work collaboratively to create high-quality leads and close on them."

Contact Forms Affect Leads

About half of all scientists use search engines to find product info before looking anywhere else.Contact forms are increasingly being used by life science companies (and web development companies) as a lead collection tool, but despite this very important function companies often don’t think through the design of contact forms well. For example, I was looking at a life science service company’s website today, and they had an extremely long contact form. There were about 12 fields for contact information – all required. While this is an extreme example, it does highlight the point very well. Contact forms are being misused by life science companies.

You may be thinking “Isn’t this focusing on minutiae? Contact forms aren’t that important.” If so, most people think like you. When designing a contact form they ask what information they would like to collect and that’s about it. That thinking, however, is completely backwards. Why? Contact form submissions, which essentially equate to leads, decrease dramatically the more fields you have. Evidence in a minute.

I’ve heard anecdotally that form submissions decrease between 20% and 50% for each field. That seems a bit exaggerated to me (anecdotes often are), so I looked into it. Thankfully, with creative Googling you can find a study on just about anything. A Chicago-based web dev outfit called Imaginary Landscape did our homework for us. They ran a pilot contact form on their website with 11 fields, then the next month decreased it to 4 fields. The results? They saw a 120% increase in their form submission rate. Conversely, this would mean a 62% decrease in submission rate when increasing from 4 fields to 11, or roughly a 12.5% decrease in submissions per additional field if we actually can apply an exponential mathematical model as the anecdotes would tell us we can.

It stands to reason, however, that as we make it easier to fill out the contact form, that we will lower the quality of the leads. There is almost always a trade-off between lead quality and lead quantity in any given situation in which leads are collected. However, scientists aren’t going to fill out a form and give out their contact info for no reason. We’ll simply get more people contacting us who are “on the fence” – and those are exactly the people that you want your salespeople to get in touch with so that they can sell them on your life science products and / or services.

Because of all these factors, life science companies and life science web designers must be minimalistic in their implementation of contact forms. Do not ask yourself what information you want from your customers, but rather what is the minimum amount of information you need to collect. Let your sales staff get on the phone and collect the rest after you have the lead in hand.

"Is your website getting as many leads or driving as many sales as it could be? Too few companies ask themselves that question, despite the fact that almost 50% of life scientists look to the internet first for product information. BioBM always asks that question, and our analytics services can optimize your website for sales and lead generation. Remember: the best website isn’t the one that’s easiest to navigate or the most visually engaging, but rather it is the one that produces the greatest value for the company. Contact us."

Technology & Scientific Sales

Break free from the paradigms created by previous life science sales technologies to fully take advantage of new life science sales technologies.Technology provides scientific salesmen with great tools. Perhaps the best example of this in recent history, at least in terms of visibility and adoption, are salesmen’s use of tablet devices to deliver sales presentations, product information, and other marketing content to prospective customers. Advances in technology, however, are often underutilized, especially in smaller life science companies. While general-purpose adoption is often good, these companies often fail to realize the full potential of such technology.

Too frequently, small life science companies (and sometimes larger ones as well) adopt new sales technologies by retrofitting the last generation of content for it without ever considering what benefits the new technology offers that could be leveraged to actually improve content delivery. In doing so, only a portion of the total potential benefit is realized. Let’s go back to the example of tablets. Sales presentations used to often require binders full of product information, salespeople would have to carry around brochures and other product information to leave with potential customers, and all of this created a lot of bulk that was heavy to carry around and could be clumsy to dig through on the spot. Companies also incurred the costs of printing, storing, and supplying such materials to their sales reps. Furthermore, customers could easily misplace a few pieces of paper and these materials were not readily shared and disseminated with labmates or other colleagues. Tablet computers were seen a way to solve these problems, and many companies and independent reps have adopted this technology. However, few examined how they could further improve their content delivery beyond alleviating these obvious issues. They simply retrofitted their previous content for electronic delivery via tablet (through pdf, powerpoints, word documents, existing web content, etc).

Now think about what could be possible if these companies thought about creating content that took advantage of the improvements in technology. Think about all the ways that various content could interact. Think about how content could potentially be created that is dynamic and allows salespeople to respond to expressed customer needs with specialized information that is more pertinent to those specific needs (the “landing pages” of next-gen content delivery). Think about how content delivery could become both more fluid and functional. These kinds of questions represent some of the forward thinking that needs to be done in order to truly leverage advances in technology to improve life science sales.

Technology is constantly changing, evolving, and improving. In order to maintain a truly up-to-date and highly effective sales force, life science tools companies need to not only adopt these technologies, but escape the paradigms created by previous technologies in order to create new and better ways to perform and support sales.

"Looking for ways to improve your sales practices? Is your life science company creating too few opportunities, or failing to convert the opportunities that it is creating? BioBM Consulting is here to help. With our deep industry experience, we can help you analyze your sales processes and implement methods to increase conversion and drive revenues. Contact us to discuss how BioBM can help your company succeed."