BioBM's Life Science Marketing Blog
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We Just Got Skyscrapered
Just yesterday, we got skyscrapered. No, we didn't get an office in a giant building or fly an ad from one or anything like that, nor is that some weird pop-culture thing that teenagers are putting on YouTube.
Why People Are Loyal … to ANYTHING
I was reading the MarketingCharts newsletter today and saw a headline: "What Brings Website Visitors Back for More?" The data was based on a survey of 1000 people, and they found the top 4 reasons were.
Are You Providing Self-Service Journeys?
Customers are owning more of their own decisions. We've all heard the data on how customers are delaying contact with salespeople and owning more of their own decision journeys.
Carlton Hoyt Discusses Decision Engines on Life Science Marketing Radio
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.
What Google RankBrain Means for SEO
There's been a ton of buzz in SEO circles about Google's new RankBrain algorithm. This is very understandable for two reasons. First, it's a nerd's dream. It's an artificial intelligence-based algorithm, and anything with AI in it is buzzy and awesome.
Lessons from Scientific Publishing’s Fight to Survive
First it was open access, then pure and simple pirating (Sci-Hub), and now preprints, as this recent New York Times article outlines. The business model of the major scientific publishers is under attack. This probably doesn't come as a surprise to many of us.
Personalization Can Backfire
Marketers are used to seeing a lot of data showing that improving personalization leads to improved demand generation. The more you tailor your message to the customer, the more relevant that message will be and the more likely the customer will choose your solution. Sounds reasonable, right?
The Plight of the Distributor
Let's be frank: if you are a laboratory products distributor, you have a ton of competition. With inexpensive digital marketing at anyone's fingertips and drop-shipping increasing in prevalence, it's incredibly easy for almost anyone to start a distribution company with little up-front investment.
The Four Key Types of Content
There are a lot of reasons why content can fail to fulfill its objectives. When content fails, it usually just feels like "stuff" – things that are churned out more for the sake of having content than to serve a specific purpose. The most common reason for failure is lack of a coherent content strategy.
Increasing Customer Affinity
Affinity has a transformational value on brands. Google, Facebook, Apple and Amazon have all moved beyond having a simple transactional relationship with their customers to one that creates intimacy and serves their needs in a more holistic manner.
The End Is Not Nigh (now let’s get serious…)
People love to decry the end of marketing. It's a good attention-getter. While those who shout about the coming of the end of marketing from their soapboxes are usually guilty of lacking realism or using poor logic, they do make us think about the future and that can be a learning experience.
If You Don’t Own Your Channels, You Don’t Own Your Audience
A very telling thing happened in October. YouTube, in preparation to release it's paid subscription service, Red, told its top content creators that "any partner' creator who earns a cut of ad revenue but doesn’t agree to sign its revenue share deal for its new YouTube Red $9.
New Report on Conference Exhibition ROI
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.
Is Publishing the Holy Grail of Content Marketing?
There's a lot of noise coming from some fairly reputable sources extolling the virtues of publishing as the next generation of content marketing (I'm sure you'll be very familiar with this if you follow the Content Marketing Institute at all).
Why MAPs Are Good Business
I've heard a number of manufacturers say that online sales are "a race to the bottom." That's a bit like hearing a dinosaur tell you that being warm blooded is overrated.
Stop Thinking About Content
Content marketers in the life sciences have reached a critical point. The traditional paradigm of content marketing is becoming ineffective. Content marketers have endeavored to create, publish, share, and then repeat this cycle to the point where there is far too much noise.
The Growth Rate Disparity
Having compiled quite an extensive amount of published life science market size data, we've noticed a lot of very optimistic growth rates.
Remove Steps With Content
While we strongly advocate that many content marketers in the life sciences shift from a content paradigm to a resource paradigm, there are still ample roles for more traditional content to play.
Wide Nets Don’t Win
The fear of loss is stronger than the desire for gain. This is a scientific fact. Here's the first paper that describes it, but there are a lot more which confirm it. It's known as loss aversion, and it makes both us and our customers irrational. Loss aversion is, for instance, why challenger marketing works so well.
Remarketing by the Numbers
We recently cited some newly released findings from the Boston Consulting Group (BCG) stating that "display retargeting from paid search ads can deliver a 40 percent reduction in CPA."
Are Conferences Worth It?
I don't think I need to tell anyone just how readily reachable customers are these days. We have an incredible amount of channels and tools at our disposal to reach a target audience. Advertising opportunities get continually more targeted. Want someone's contact information? You can certainly dig it up.
Avoiding Skepticism
The scientific buying journey is fraught with skepticism. From the buyer's perspective, this is a requirement of a good buying journey.
BioBM Provides a Template for Attribute Analysis
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.
Should You Be A Thought Leader?
Being a "thought leader" has become cliché. That's what most brands and most content marketers aspire to be, however. They want to be visionaries; oracles of their respective fields.
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