Why Digital Marketing is a Crucial Need for Life Science Industry

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In this digital era, all industries are taking advantage of digital marketing to reach out to the world, except the life sciences industry. The life sciences industry doesn’t have a history of involving in online marketing actively to promote its products and services. The reason behind may be the challenges unique to this vertical, and the strict regulations it is governed by.

Not tapping into the potential of digital marketing often leads to lack of visibility for life science companies, which further results in low sales. Online marketing has enormous potential, which life science firms need to understand. If leveraged in the right way, digital marketing can bring stellar conversions, sales and ROI for companies of this vertical.

Deloitte’s report says about the vertical of life sciences – “an overview of recent sector performance shows that it is favorably positioned to achieve success in 2014 and beyond.” So, if you are a life science marketer, and have still not adopted digital marketing, it’s time to sit down and look at the various benefits your business can get by going digital.

Before moving on to the benefits, let’s first try to understand the key reason why this sector needs digital marketing.

Why do Life Science Companies need Digital Marketing?

The key reason why companies in the life industry should adopt digital marketing is that digital marketing offers a level playing field to all businesses. Whether your business is a renowned name running globally, or a small company, you would be able to use the same methods and tools. This industry lags a bit in the race of adopting digital marketing strategies, despite being one of the most innovative sectors. The industry’s approach to online marketing is often very fragmented. Some of the companies use a scatter-gun method, with no real goal, and some are not at all employing any internet marketing.

Now this comes as a surprise, owing to the fact that life sciences is a vertical that relies wholly on its capacity to communicate and convey new innovations and technologies. Ignoring online marketing equals ignoring a very effective communication channel in the globe – the internet.

Advantages of Digital Marketing for Life Science Companies:

1. Less Cost:

A life science digital marketing strategy can be developed by your company at a much lower cost than what you have to spend to develop traditional marketing strategies. With digital marketing, it’s possible to replace expensive advertising channels like radio, television, magazine and Yellow Pages.

2. Measuring is Simple:

In contrast to traditional marketing methods, in online marketing, it’s possible to gain a real time knowledge of the things that work for your business online and those that don’t. You can employ Google Analytics to measure your site traffic. You can also find different email marketing solutions that can help you know what number of viewers open, read and convert through your emails.

3. Real Time Results:

To incorporate improvements in your business, you don’t need to wait for a number of days in case of online marketing. Contrastingly, in traditional marketing, one may need to wait for weeks for a form or fax to be returned. With online marketing, you can view the number of your site visitors, increase in subscriber number, peak times of trading, conversion rates, and many other such details.

4. Brand Building:

A website that is well-maintained and has quality content fulfilling your target audience’s needs, can not only bring you lead generation opportunities, but also enhance the value of your brand. Same is the case for channels of social media and email marketing. As a life science company, you can effectively make use of content marketing to improve conversions and heighten your brand reputation.

5. More Exposure:

A digital marketing campaign ensures visibility for your business from any region of the globe. Bringing such huge exposure via conventional marketing would cost you a huge amount. Once the optimization of your site’s keyword search content is done, you would receive a long-term ROI. Moreover, maintaining your site rank would involve fairly low expenses.

6. Not Intrusive:

For most people, it’s annoying to receive phone calls or sales mailshots at inappropriate times about things they are least interested in. When online, one has the choice of opting in or opting out of communications. One would never get frustrated by getting emails regularly on a topic of his/her interest. So, adopt effective strategies like tailored marketing and market segmentation.

7. More Engagement

The engagement brought by online marketing is far greater than that brought by traditional marketing. Through internet marketing, you can let your clients, prospects and followers read what products and services your company offers, buy them, rate them and offer feedback for them. This feedback provided by your customers about your brand or your products and services, can be seen by your market. So, if you receive good feedback, it would bring you good publicity, which in turn would enhance your prospects of business.

These are the major advantages your life science company can get by adopting digital marketing. So, get set to design a solid internet marketing strategy that removes all your marketing bottlenecks, and rewards your business with impressive ROI.

Chloe Paltrow
Chloe Paltrow, a medical assistant. She has shared her knowledge in various websites and blogs like PsychCentral, Collective Evolution and Pick The Brain. Currently, she is studying how brain injury and brain disorders can be treated with hyperbaric chambers.