COVID has re-shaped marketing practices within the life science industry. VP of Marketing at Metrohm, Michael Allen, shares the successes and failures he has encountered adapting to the new demands of the industry. Read on to learn about deploying a scientific approach to life sciences marketing, and how sound data analysis and marketing measurement can determine what does and doesn’t work from a life science marketing perspective.
Strategic Life Sciences Marketing Planning Has Changed
The planning process has shifted to focus more on short-term strategies rather than the more common, long-term, annual planning. How people behave is changing so quickly due to the market pressures of COVID (just think about how engagement with webinars has changed over the last two years). Solid data analysis can now only give you an educated guess into what will be required from marketing in the next quarter, rather than the next year. This makes having a clear martech stack and data map strategy even more crucial so that you can monitor results and respond quickly.
Employing a Scientific Method
Setting a hypothesis, defining the variables and then a:b testing, provides a scientific rigor to life sciences marketing. The key is to set appropriate goals and expectations for what you expect to achieve with a given investment. Having a clear hypothesis enables the marketer to create a clear marketing measurement framework around what was achieved, which better allows marketing to determine what worked, what didn’t, what can be improved, and what should be refuted for future projects.
To hear more of Michael Allen’s tips for quantifiable and powerful life science marketing, listen to the latest episode of the ‘Talk Life Science Marketing Analysis’ podcast from Covalent Bonds. During the interview Michael also answers the question posed by our last guest, Kristen Garvey, Vice President Corporate Communications at Waters Corporation. Kristen asked what role modern technologies are playing in the current landscape. Listen in to hear his illuminating response.