Many companies try to enter the life science market, lured by the promise of rapid growth and significant opportunity. But entering the life science market can be difficult; many companies try and fail. In this first of two whitepapers on the subject, I’ll provide an overview of some of the factors that make this market unique and identify what you can do to increase your chances of success.
Choosing a name for a life science company, product or service can be difficult. Any choice will generate a strong, almost instantaneous response, carry great emotional weight and (ideally) last a long time. How do you choose a name while avoiding the emotional rollercoaster that such choices often bring? I outline an eight-step process. But first, let’s talk about the importance of choosing the proper name.
Archetypes are a powerful way to manage the meaning of your brand-story. Using archetypes effectively allows you to create high-performance life science marketing—leading to greater differentiation and pricing power. In past issues, I’ve outlined how to determine the archetypes of your competitors and how to choose an archetype for your own organization.
Now, in this final issue covering archetypes, it’s time to put your archetype to use. Let’s get practical.
Choosing an archetype that will differentiate your life science organization — a ten-step process., Vol. 6, No. 5
Summary: The effective use of archetypes can provide differentiation in life science marketing. But choosing an archetype can seem like a daunting task. How do you choose an archetype for your own organization? I outline a proven ten-step process.
Archetypes are one effective way for life science companies to create greater differentiation and pricing power through effective marketing. In this issue, I’ll explore an example of bringing archetypes to life throughout your marketing communications, and I’ll discuss how you can determine the archetypes of your competition.
Summary: Archetypes are a powerful tool to guide the development of your marketing communications. In this issue, we’ll start by examining one of the sources of the strength of archetypes: pattern matching. We’ll look at the twelve families of archetypes and at the many different archetypes within these families. And we’ll discuss why you shouldn’t select the Scientist or the Innovator as your archetype.
Gaining differentiation (and pricing power) through the use of archetypes in life science marketing., Vol. 6, No. 2
Summary: Archetypes are one effective way to manage the meaning of your brand-story in the minds of your audiences. Doing so effectively leads to greater differentiation and pricing power. Studies have shown that careful selection and maintenance of archetypes is related to higher profit. What are archetypes? In this and subsequent issues, we’ll introduce the basics of this fascinating topic.
Summary: Most life science marketing is ineffective. Surprisingly, horribly, disastrously ineffective. But it doesn’t have to be this way. There are 10 commitments we can make that will transform our marketing efforts into high-performance life science marketing. Make these 10 commitments and join the movement to wipe low-performance marketing off the face of the earth.
Summary: Content marketing is the great equalizer. Using content marketing, small life science firms can be as effective and engaging as much larger firms. Unfortunately, as content marketing gets more and more popular, being seen as unique becomes more and more difficult. But there still seems to be real opportunity in content marketing in the life sciences; there are areas of content that are not yet heavily populated by competitors. In this issue, I’ll identify what you need to do to be able to take advantage of this “blue ocean” (a place where the competition is not yet heavily focused [i]).
Summary: There is significant misunderstanding about how marketing works – that is, of the mechanism by which it affects people’s attitudes, beliefs and behaviors. In particular, many scientists believe that they are immune to marketing’s effects. But if scientists are immune to marketing’s effects, why do so many companies continue to spend significantly on marketing campaigns? The reason is simple: this supposed immunity is just a myth; marketing actually works. To understand how, let’s examine the marketing mechanism of action.