When it comes to digital marketing, the life science industry is not very famous about involving actively in it, as compared to other industries. However, we all know how important this industry is for the globe. Each and every company operating in this vertical makes a vital contribution to the world.
But, often due to ineffective marketing measures, life science firms don’t get enough visibility, which in turn, leads to low sales. It’s important for life science companies to realize the tremendous potential of internet marketing, both in the promotion and growth of their business, as well that of the entire industry.
A report by Deloitte states about the life science industry that “an overview of recent sector performance shows that it is favorably positioned to achieve success in 2014 and beyond.” If you are a life science marketer, investing in digital marketing can prove to be very rewarding for you.
Why the Life Science Industry Needs Digital Marketing?
The most notable reason why life science firms should take to digital marketing is – digital marketing enables all business to play on level ground. Irrespective of you are a renowned life science firm operating globally or a smaller firm, you get the same tools to use. This sector has been a bit slow to adopt internet marketing technologies, in spite of being a very innovative field. The sector often has a very fragmented approach to digital marketing. At worst, many of these companies have taken to scatter-gun approach, having no real aim. Some of them don’t have any digital marketing at all.
This is quite surprising. Why? Because this vertical relies entirely on its capability of communicating new technologies and innovations. Neglecting digital marketing is equivalent to neglecting one of the most effective communication tools in the world – the internet.
How Digital Marketing can Benefit Life Science Companies?
Below appear the benefits you can get by adopting digital marketing:
1. Real Time Results:
With digital marketing, there is no need to wait for weeks to boost your business. In traditional marketing, you may need to wait for a long time for the return of a form or a fax. Contrastingly, in internet marketing, you can look at the number of people visiting your website, conversion rates, peak trading times, increase in number of subscribers, and many other things very easily.
2. Simple to Measure:
Digital marketing makes it easy for you to measure the results of your efforts. Here, you can have a look in real time that what’s working and what’s not for your company. You can incorporate changes in your marketing methods accordingly. Google Analytics is a great tool you can make use of to measure the traffic to your website. There are several email marketing solutions available, with which you can find out the number of people opening your emails, reading them and converting through them.
3. Low Cost:
Designing an internet marketing strategy involves very low cost. Such a strategy can effectively replace the more expensive advertising channels like magazine, radio, television and Yellow Pages.
4. Development of Brand:
A good website consisting of quality content aimed at meeting the needs of your target audience, can provide you opportunities for lead generation and can add value to your brand. The same goes for personalized email marketing and social media channels. For life science companies, content marketing has proved its potential in enhancing brand reputation as well as improving conversions.
5. Huge Exposure:
With an online marketing campaign, you let your business be visible from any part of the world. The expenses of doing such a job through traditional marketing would be substantial. Once the keyword search content has been optimized on your website, the return on investment you will get would be for the long term. Maintaining your ranking would involve quite a low cost.
6. More Engagement:
This is a notable advantage offered by internet marketing over its traditional alternative. Digital marketing can help your followers, clients and prospects to read about the services and products offered by your life science company, visit your business website, rate your services and products, offer feedback about them, buy them, or take other actions. The feedback your customers offer about your services, products or your brand, is visible to the market. In this way, you can build good publicity for your life science firm, which would improve your business prospects.
Considering these valuable advantages digital marketing can provide your life science firm, it would be a smart step to start planning your digital marketing strategy. Many big names have adopted digital marketing, and are reaping the rewards of their smart decision. So don’t lag behind in this digital era of keen competition. Go digital, and watch your conversions, ROI and sales shoot up.