Lab Excellence: Marketing, Product & Digital Strategies
Life Sciences Tools & Services
Marketing impacts all points along the buyer journey—from awareness and evaluation to purchase and retention. Generating demand, driving conversion and enhancing customer experience are key marketing objectives for growth.
Survey Demographics
215+ Survey Responses from Marketing Leaders
35+ Interviews with B2B Marketing Executives
50+ Client Engagements
What marketing resources and investments should be made to achieve these goals?
Scaling in Size and Maturity
Aligning resources with customer, product and industry segments to increase effectiveness.
“One priority is modernizing our marketing tactics… we need to drive growth via marketing efforts so we focus on ways to do that.”
Tracking and Measuring ROI
Designing KPIs around business goals to allow for effective data-driven decisions.
“Top line revenue used to be the main thing, but now we are starting to focus more on profitability.”
Improving Digital Strategy
Leveraging technology to increase marketing footprint and respond to evolving market trends.
“Digital has been a thorn in our talent system…getting folks who are digitally savvy or digitally mature has been tough.”
Marketing executives identified five marketing growth plays for commercial excellence in life sciences.
Organizing for Growth
68% of life sciences companies use at least three factors to determine appropriate size of their marketing, product and digital organizations.
Achieving Functional Talent Excellence
52% of life sciences companies are doubling down on upstream capabilities to accelerate product innovation and lifecycle management (largest resource investment area).
Enhancing Product Commercialization Strategy
93% of respondents currently cite the prevalence of product marketing and product management resource roles.
Expanding Digital Coverage
35% of life sciences companies are planning to increase their digital strategy headcount and program initiatives.
Optimizing Demand Generation and Fulfillment
Account-based marketing costs 3x per lead but results in 5.5x more closed deals than differentiated marketing.
Are your marketing strategies capturing these growth plays to enhance performance and productivity?
For more information on how you can take advantage of these marketing growth plays for commercial excellence, please complete the form and an Alexander Group marketing services practice lead will be in touch to schedule a complimentary readout of the report findings.
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