Having an online digital marketing strategy is critical for those Contract Development Manufacturing Organizations (CDMOs) looking to define their value as an outsourced manufacturer and Biopharma development partner. After all, lead generation can’t simply involve cold-calling pharmaceutical companies and recycling through the same outdated contact list. Something more is needed.
Biopharma – Contract Development Manufacturing Organizations
Large pharmaceutical companies are online at this very moment. They’re looking for partners and solution-providers, ones who can help them reduce costs and ones that can shorten their product to market lead times. Reaching these all-important market stalwarts has to involve a comprehensive online marketing strategy; one that combines multiple inbound approaches and one that keeps you one-step ahead of other CDMOs.
Your company should be generating leads with an all-encompassing inbound marketing strategy that includes digital advertising, content marketing, search engine optimization (SEO), social media and marketing automation. If you’re not convinced, then here are a couple of reasons why having an online marketing strategy is critical to your success.
1. Increased Visibility
The pharmaceutical industry has the highest online visibility rating among ten industries measured through comScore Health Solutions. It’s recent “Eighth Annual Online Marketing Effectiveness Benchmarks for the Pharmaceutical Industry” report states that online advertisements within the pharmaceutical industry are highly-visible and often acted upon by customers. This is why today’s pharmaceutical companies are spending more time online and why they see inbound marketing as so important to their future. It simply makes sense for your company to go where your customers are and the majority of them are online.
2. Being Mobile-Capable is a Must
Pharmaceutical C-level contacts and high-level decision makers are constantly on the move and always accessible through their mobile devices. Staying up-to-date with everything back at the office is critical for these professionals, and the only way to reach them when they’re on the road is through their mobile devices. Having a mobile-friendly website is the first step. This means having a website where smartphone users only have to scroll up and down using their thumb. An online strategy can drive targeted traffic right to your website, but that website must be mobile-capable in order to convert those visits.
3. Reducing Your Cost of Leads and Costs of Customer Retention
Online marketing can reduce your CDMO’s costs of generating qualified leads, your costs of sales and your costs of customer retention. In fact, your analytics and metrics will help you define your costs of generating leads right down to every dollar you spend on a digital advertising campaign.
With analytics, you can easily determine which landing pages work best, where leads are coming from, how much they cost, and most importantly, how much it costs to win a new customer. Once you’ve won that customer over, you’ll use marketing automation to keep your customer engaged, keep them interested and keep them coming back for more.
4. Brand and Reputation Management
Marketing to pharmaceutical companies has never been more difficult. While CMO-related content goes a long way to building your brand and managing your reputation, it simply isn’t enough when dealing with all the regulations governing messaging within the pharmaceutical industry.
An inbound marketing strategy isn’t just for generating new opportunities; managing your brand and reputation must be done by interacting with your customers in real-time and the only way to do that is by having an inbound marketing strategy that continually feeds you with up-to-the-minute information about your company, your market and your customers.
The pharmaceutical and Biopharma marketplace is ultra-competitive and generating leads, winning business and keeping customers is no longer a numbers game: You need a focused strategy to come out ahead. With an online strategy, you can define your costs for every lead you generate, every customer you win and every contract that gets renewed. It’s a must-have in our global marketplace.