Marketing Challenges

Transcript Marketing Challenges

SHEILA BURNS

• 10+ years at Promega • Integration of Pierce into Fisher Scientific; VP of marketing for Pierce, Endogen, HyClone, Mimotopes, Dharmacon, Abgene • Integration of Ambion into AB; AB into LIFE • Marketing integration lead – AB • Strategic plan leader for AB • VP marketing, molecular biology division • Created Luminex strategic plan and developed robust product pipeline

HEATH JACKSON THOMAS

• Creative Director, Life Technologies -Lead 19 designers and illustrators -Managed brand ID for multiple sub-brands • Design Director, Applied Biosystems -Designed brand ID for consumables products -Managed internal design group/external agencies • Brand Manager, Luminex Corporation -Brand audit, brand ID refresh -Company-wide brand training and orientation

THE LINE BETWEEN LIFE SCIENCE RESEARCH & DIAGNOSTICS HAS BLURRED

THE LINE BETWEEN LIFE SCIENCE RESEARCH AND DIAGNSOTICS HAS BLURRED

RESEARCH PRODUCTS SHOULD HAVE A PATH TO DIAGNOSTICS

Basic Research

Research Clinical Research

Translational Research Discovery

• LSR labs – Academic and Gov’t • Pharma R & D labs

Validation

• Pre-clinical and clinical trials – Pharma, CROs, • Virtual CROs • Academic Medical Centers

Bench to Bedside

•

Applied research

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Clinical Trials Diagnostics

Diagnostic Test Treatment

Companion Diagnostic Test Test

• CLIA labs • Hospital labs • Large reference labs

Treatment Decision

• Hospital labs • Physician Office (POC) © Building 12 Communications, LLC 2014

CHALLENGES FACING LIFE SCIENCE MARKETERS Mergers and Acquisitions Regulatory Federal Funding Access to Patient Samples Competitive Landscape R&D Budget Cuts eMarketing Marketing Budget Cuts Logistics Global Differences Reimbursement Partner Focus

DO YOU HAVE A

SUSTAINABLE

COMPETITIVE

ADVANTAGE

MEASURE

THINK

Market Assessment Value Proposition Corporate Capability Product Suite or Stand-Alone

MEASURE

PLAN

Positioning Channel Messaging Product Features Customer Benefits Adoption Rate Forecast © Building 12 Communications, LLC 2014

MEASURE

ACT

Customer Communication Customer Care

-Tech Support -Customer Service

Focus

“Hope is not a strategy”

— RICK PAGE © Building 12 Communications, LLC 2014

PRACTICE LONG TERM STRATEGIC PLANNING COMPETITIVE CHESS GAME

-Map the current landscape Predict the “next moves” of your opponent

RESEARCH TO DIAGNOSTICS

-Is there a path to the clinic?

-Is there a clear reimbursement strategy?

-What is the current patent situation?

“HEAR” THE VOICE OF CUSTOMER

-Industry forums, focus groups and on-site lab meetings/observation -Think about what would provide more value (product suites, technical training, software, etc.)

PROVIDE TRUE INNOVATION

-Incremental improvements are not enough -Uncover unmet needs; solve real problems -Reveal your product pipeline If you build it, they won’t necessarily come!

THINK – HOW DO YOU WANT TO BE PERCEIVED IN THE MARKETPLACE?

“Positioning is an art. Great positioning tells a compelling, attention grabbing story – a story that resonates with your audience.”

— REBEL BROWN © Building 12 Communications, LLC 2014

THINK – HOW DO YOU WANT TO BE PERCEIVED IN THE MARKETPLACE?

• Position your brand; position your product – Your brand is not your logo • Complete this sentence: – Convince Who (Target) that (Offering Name) is the (Competitive Statement) Which Can Deliver (Benefits) Because (Why) © 2011, Impact Planning Group • Anticipate future moves • Know the patent landscape © Building 12 Communications, LLC 2014

THINK – GET CLOSER TO THE CUSTOMER ALLOCATE TIME TO TALK TO CUSTOMERS

– Make a date to get out in the field and immerse yourself in the customer’s world

CAPTURE CUSTOMER REQUIREMENTS IN WRITING

– This aligns all stakeholders – Ensures the product you envision is the product that is delivered – Documented VOC © Building 12 Communications, LLC 2014

THINK – PROVIDE TRUE INNOVATION INCREMENTAL IMPROVEMENTS ARE NOT ENOUGH FOCUS ON OFFERING AS COMPLETE A SOLUTION AS POSSIBLE

– Value-based product suites – Robust hardware and/or software – 24/7 technical support and service – Intuitive, easy to navigate web site with updated technical content – Bundling for cost optimization or increased efficiency

MAKE THE PIPELINE VISIBLE

– Build confidence in the future of your brand

KNOW WHEN TO STOP ITERATING

– Launch the product!

THINK – USE VISUALS TO COMMUNICATE QUALITATIVE INFORMATION CUSTOMER NEED 1 CUSTOMER NEED 2 CUSTOMER NEED 3 CUSTOMER NEED 4

FEATURE 1 FEATURE 2 FEATURE 3 FEATURE 4 © Building 12 Communications, LLC 2014

PLAN – THE TREE SWING; ILLUSTRATES THE NEED FOR A CUSTOMER REQUIREMENTS DOCUMENT

paragoninnovations.com/guide.shtml

PLAN – DEVELOP A ROBUST CUSTOMER REQUIREMENTS DOCUMENT

Solidifying must-haves provide alignment and progress tracking

REQUIREMENT MUST HAVE REQUIREMENT DESIRED OWNER STATUS Executive Summary

Fit with company strategy Projected Timeline to Completion Projected 5 Year Revenue

Customer Requirements

Intended Use Competitive Landscape Target Market Key Product Features Cost and Pricing User Workflow © Building 12 Communications, LLC 2014

PLAN – BE REALISTIC ABOUT THE MARKET SIZE AND CAPTURE RATE TOTAL MARKET YOUR SEGMENT OF THE MARKET ADDRESSABLE MARKET REVENUE

PLAN – KNOW WHAT LEVERS CAN YOU PULL

KNOW WHAT YOU HAVE IN YOUR ARSENAL

EASE OF USE PLATFORM COST TIME TO RESULT

TECHNICAL EXCELLENCE

PLAN – GET THE MESSAGE OUT! TARGET SCIENTIFIC HOT SPOTS 24/7 ACCESS FOR THE LIFE SCIENCES,

TARGET WORD OF MOUTH AND SELF SERVICE

CHANNELS (E.G. WEB) EMARKETING BLOGS WEB CUSTOMER 3 RD PARTY KOLS TRADE SHOWS INBOUND MARKETING

PLAN – MAKE SURE YOUR VALUE PROPOSITION AND MESSAGE ARE ALIGNED

• Be consistent in each segment • Make sure your message resonates with your customer base

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Focus Groups

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Beta Tests

–

Limited Launch

FOR EXAMPLE,

how sensitive is sensitive enough?

ACT – CREATE A CUSTOMER ADVISORY BOARD

WORD OF MOUTH MARKETING

Use very specific criteria ensuring all are potential customers or buying influencers

PRESTIGIOUS INSTITUTION KEY OPINION LEADER LARGE USER GLOBAL INFLUENCE

ACT – CHOOSE YOUR CHANNEL STRATEGY DIRECT SALES

• Hire the best; faster, better return • Support the field with tools • Get real time, direct customer feedback

DISTRIBUTION

• Make sure you understand what you’re getting • Face time with sales • Marketing costs/expectations • Dual payments © Building 12 Communications, LLC 2014

ACT – PROVIDE QUALIFIED LEADS BASED ON TARGETED CAMPAIGNS ADD AN INBOUND MARKETING TOOL TO DRAW LEADS TO THE BRAND

MEASURE AND PROVIDE VISIBILITY TO LEAD FUNNEL

Blogging, SEO, Social Media, PPC, Keywords Research Mode © Building 12 Communications, LLC 2014 Landing Pages, Offers, CTA’s, Forms Interested Buyers Lead Nurture, Email, Workflows, Lead Mgt Ready to Buy Source: HubSpot Home Page

MEASURE

•Think about what measurements have meaning

early on

•Create a dashboard as a snapshot of progress for the organization •Make adjustments as needed © Building 12 Communications, LLC 2014 www.kaushik.net

ACT – FORM A CORE TEAM AND TAKE ADVANTAGE OF THEIR INFLUENCE AND EXPERTISE

• All core members have skin-in-the-game • Ensure you have the know-how you need – Regulatory – Reimbursement – Quality – Sales – Project Management – Finance – R&D – Manufacturing • Meet weekly, update commercialization plan • Have monthly commercialization reviews © Building 12 Communications, LLC 2014

THINK PLAN

ACT

• Use data to develop the right product for the right customer available at the right time – A customer requirements document is a “must have” • Start with the end in mind – What is the product path? • Ensure the value proposition matches the offering – Walk the talk • Measure and adjust your levers • Stay focused and on track with a strong core team • Show progress via a dashboard • Design a go-to-market strategy that is targeted, dynamic and flexible © Building 12 Communications, LLC 2014

THANK YOU