3 Things Your Life Science Venture Can Do To Compete in a Market Dominated by Big Companies – Part 2
This is the second in a series of three articles for Life Science ventures competing against the dominant big companies
Each covering something special your life science SME has to make it successful against company giants in a specialised, niche market. Each post will talk in detail about the following topics...
1. Joined up
Being joined up and transparent for remarkable lead nurturing and responsive market-led development.
2. Simplicity
Leveraging the simplicity and sharp focus of your business to provide expert and accessible
on-line content
3. Personalisation
Personalisation of customer contact early in the lead to sales cycle.
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Leverage the simplicity and sharp focus of your business
Look at the website of your big life science corporate competitor and view it with these questions in mind:
Now look at your website and ask the same questions.
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How you can out-compete large sized life science competitors on-line
The size of your business and the scale of the website YOU need to promote and sell your remarkable products gives you a BIG tactical advantage when you consider those questions above. IF you set it up right, and manage it in the right way.
That doesn’t always mean just having a website that’s smaller and more pared down than your competitor. But you can make big gains with relatively little effort compared to big companies that need to manage hundreds of established products across many markets.
And remember they need just as many touch points as you for someone to be convinced they have the right product. And they need to do that for orders of magnitude more people. You have a focus and size that is right for generation of online sales and marketing from the customers you want.
Present and manage your life science website in an agile way that your competitors with big unwieldy websites can’t do
The gap between theory and successful practice
From my experience of “being responsible” for the company website, it can be a thankless task that has you running around in circles.
EVERYONE in the business has an opinion on what the website should look like, ideas to improve it, pages they think needed updating, spotting typos, things that don’t match how they would like to navigate. I’ve had Have you considered an online shop? For a product that sold for 10 x the usual budget sign off for customers. And then there are social media ideas that everyone has based on how THEY use social media. Not how your clients use it.
These can be a significant frustration for the unlucky people, usually the operational marketing people, to make the most of without running around in circles.
The challenge is how to get the best-integrated investment of ideas and review of your website and how it is working. I, and the business I was an operational marketer inexperienced a step change in the value of our website when traditional department responsibilities and divisions were unblocked.
With the right people involved, with ownership and an amount of time and space OUTSIDE their typical day to day functions.
Technical people, in my situation software engineers, are the outliers in on-line savvy. In my experience, they are highly advanced in their understanding of best practice and new creative ways to use digital resources. The same can be true of graphic designers. Use that resource to enhance your online presence. If you don’t have the people to combine technical knowledge and creative flair. Then find it. The results are transformative in the way you can get your website working for you.
Do you have content that can generate strong sales leads?
I know we did in my last two positions. One of my roles and responsibilities was to find, curate and repurpose our wealth of technical and sales support collateral. And if we didn’t have evidence-based sales and marketing content I had a job to get it.
You have technical salespeople, support teams, developers who have access to this for overcoming sales objections in the field, answers to frequently asked questions and demonstration datasets respectively.
What we had was phenomenal when you laid it out. There was also much of it that outdated, irrelevant in current generation of sales activity or repeats of the same document or presentation.
We quickly got to work. Combining, updating and creating new things from the great foundation of content we found on personal drives, shared drives and even in people’s heads.
Adding this to a simplified website becomes easy and even fun. It encouraged stakeholders in the business to think about how they could get what they knew customers needed onto the website.
I’m guessing if you're still reading this you’re in a small business with a wealth of expertise in your domain and across your people? You may already have LOTS of content you can refresh, repurpose and present on the line. And make it easy and simple for your customers to find. Because you are focussed on providing a specific solution, or a specific subset of products and services.
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As specialists in your sector this enables us to rapidly understand your unique needs enabling us deliver powerful results quickly. Saving you time, stress and money and delivering the best ROI.
Content is king but it needs a castle to live in.
So you have the talented, savvy people focussed on it. A combination of ownership and ideas that make this a dynamic resource. Available for your customer when they need it. Keeping it alive and supported by high-quality, highly relevant and responsive content. The vital ingredient to your website so it can do 80% of the sale job for you 24/7, 365 days of the year. And you can easily do this because you don’t have to compete with other divisions or large catalogues of products.
Now ask those questions at the start again...
Now back to the question I asked at the start. After you looked at the websites of big competitors and challenged them. Can you ask those same questions of your own website and see the big difference between yours and theirs? Can you clearly see the advantage in yours when a potential customer visits the site? That the experience they have on your website is as clear, well supported and informative as if they came to meet you at your office.
If you do one thing tomorrow, look critically at your website. Ask how quickly and sensationally could you add a new product and promote on there. With all the supporting information that would need. If you can do that in an agile way that your competitors with big, unwieldy websites can’t do, then you can easily take them on.
The Takeaway.
Leverage the simplicity and focus on your life science business.
It may be things you’ve heard or read about in latest trends for marketing. But my aim here isn’t to tell you what to do it’s to try and show some real ways it can work, that connect with you, your size of business and the specialised life science market you live in.
The next post is the third in this series. The personalisation of customer contact early in the lead to sales cycle.
Read on, article 3
If you haven't read the first post in this series, then head over to Joined Up, article 1
World Leading Website Consultancy to Biotech
and Life Science Businesses
Being specialists in your sector enables us to rapidly understand your unique needs enabling us deliver powerful results quickly. Saving you time, stress and money and delivering the best ROI.