Is it time to rebrand your life science organization, product, or service? Part five: The rebranding process (steps 1-5 out of 10)

In this issue, I examine the process of rebranding. I’ll outline the first 5 steps in the rebranding process for a life science organization, product or service. Once you’ve decided to rebrand, you should begin by developing a clear-eyed understanding of your environment, your audiences and your competitors. Then you must select a position and an archetype.

Archetypes: ‘The next trend in high-performance B2B marketing’

The recent webinar, Using archetypes in life science marketing to increase sales and margins, included an interactive discussion led by David Chapin that shed new light on how life science organizations can set themselves apart from the competition and better engage their audiences in a crowded, highly regulated marketplace. In so doing, such organizations will benefit [...]

Rebranding your life science organization, product, or service. Part three: Building a task force to rebrand your life science organization.

In this issue, I provide some guidance on the makeup of your life science rebranding task force. Having worked with many such teams over the past two-and-a-half decades, I’ve learned that some attributes are essential, and some should be strenuously avoided. I’ll begin this issue by outlining how to guide the rebranding discussion and I’ll close it by discussing the issue of timing: how do you know when to rebrand? In the next issue, I’ll provide a decision tree to help you make the decision: Is it time to rebrand my life science organization, product or service?

Why ‘almost the best’ isn’t alright for life science marketing

"Market share as a first priority generally doesn’t end well. When you compete on quality, 'almost the best' will often still do pretty well. When you compete on price, 'almost the cheapest' always loses." The quote above comes from a recent post by Apple-centric tech blogger John Gruber. Though Gruber was specifically referring to the Smartphone [...]

Rebranding your life science organization, product, or service. Part one

Isn’t it ironic that marketing, the one business function that is (supposedly) responsible for clear communication, is also the one with widespread confusion about the meaning of one of its central terms: brand? There are actually at least four meanings, all very different. So I’m going to begin the discussion about rebranding by clarifying some terminology. And then I’ll point out the eight foundational assets you must have for an effective “brand” in life science marketing. In future issues, I’ll cover the reasons to think about rebranding, discuss the team you need to undertake this effort, provide a decision tree that will allow you to determine whether it’s time to rebrand, and give you a roadmap to follow as you rebrand your life science organization, product or service.

Entering the Life Science Market – Part 2 of 2: Targeting Your Audiences

As I discussed last month, entering the life science market is not a trivial exercise. There are many factors that make this market unique and I’ll start by reviewing some of those. Then I’ll take a closer look at the audiences in the life sciences and some of the specific attributes they share. Understanding these audiences, and how to draw them closer to you, is a critical success factor for entering the life science market.

Entering the Life Science Market – Part 1: Eight Things You Should Know

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.

The Marketing Mechanism of Action and the Importance of Uniqueness

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.

Creating Effective Inbound Marketing in the Life Sciences – Part 2: The Exchange of Value

Marketing is getting more complex as buyers retreat into anonymity. To be effective, the Marketing function must shift from focusing on simple, outbound promotional activities to attracting prospects, and then converting them from visitors to leads to customers. Inbound marketing is more complex and is more synergistic than outbound marketing. For example, outbound marketing is designed to culminate in a single exchange of value, that is: products or services exchanged for money. Inbound marketing is designed to employ many small exchanges of value and this shift requires changing the way we think about marketing in the life sciences.

Common Marketing Errors (Part 2)

Having worked in the life sciences for more than two decades, we have seen a number of marketing errors commonly made by life science companies. As a follow-up to last month’s article about strategic errors, this month we’ll discuss some widespread tactical errors and provide suggestions about how to both identify and address them.