Making mission critical decisions for your science or technology business requires a deeper knowledge, understanding, and appreciation of the complex marketplace in which you compete. Today’s market is digitally-centric, multifaceted, and rapidly evolving, making strategic decisions risker and more complicated than ever before.
In order to compete, a new digital marketing playbook is required that incorporates a much broader set of market analytics, competitive research, and target customer insights. Collectively, this information can be harmonized into actionable intelligence about science and technology markets that can directly influence future strategic decisions for your business and enhance your success!
Knowing your target market is a critical and foundational element for being able to execute on sales, organizational, and marketing strategies. Without market research, science and technology companies are flying blind, and the risk of organizational failure increases immensely. Who are the major competitors in our area? Which sleeper competitors should be watching closely? Who are our target customers and are there different segments of customers with niche needs? We offer premier market research capabilities that will answer the most important questions about market competition, your current customer base, and what customer segments you should be targeting!
When it comes to your offering, you need to be sure that the products and services you sell into the marketplace meet the needs of your target customers. Customers are paying for problem solving, so biotech, instrumentation, medical devices, software and other companies should ideally sell customers solutions, not products or services - this even applies to commodity products.
When determining if your solution meets the needs of the market you should ask several questions: Does the product contain features that help your customers solve a problem? What benefits do customers derive from those features? What quantifiable value is driven from those benefits?
Answers to these questions ultimately help one understand "What are customers willing to pay for our offering?" By answering the most important questions about your products & services, we provide a view of value from your customer's perspective!
You need to be able to communicate effectively about how your latest technology or science offering solves specific problems and provides value to customers. Customers want to be cared for, nurtured, and feel like they have a partner in the supplier that they buy from. A big part of developing customer trust is to communicate transparently and simply about your products and services. From scientific application notes to software feature sheets, we can help you generate captivating marketing content that not only will your target market love, but you potential customers will be searching for it - this is called 'pull marketing' or 'inbound marketing' and is an area of expertise of ours.
You understand your customer’s needs, developed a solution that meets those needs and solves problems, and communicated the value of this solution into the marketplace. Now, you need specific value propositions prepared for your offerings so that your sales force can have effective conversations and quickly produce profitable quotes using accurate pricing information. Your sales team must have the appropriate sales training and job-aids to facilitate an effective dialogue with potential customers throughout the science and technology space. We can help your organization develop the value proposition statements for your offerings and ensure that the sales team has the information needed to engage in valuable conversations with potential customers and ultimately close the deal.
Your team made the sale, time for a brief celebration to acknowledge success! However, the work is really just beginning. You need to keep your customer's happy and retain them through nurturing and structuring effective loyalty programs. You also need to be able to stay ahead of your customer's needs as well as your competition by leveraging powerful market insights that are hidden inside troves of data. Actionable insights can be gained from examining the tens-of-thousands of existing data points including: historical sales transactions, customer purchasing patterns, competitive pricing intelligence, product profitability metrics, and more will allow your organization to know if you are making progress towards achieving your organization's strategic goals, and more importantly, course-correct if needed. We can help you set up an efficient marketing analytics capabilities that will make heads and tails out of your Big Data and provide you with even bigger insights!
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