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How is Pharmaceutical Bio Marketing Evolving in 2023?
Not long ago, bio marketing was a barren land for digital marketing.
Because biotechnology itself is a very specialized field, offline activities such as participating in academic conferences and seminars were primarily conducted rather than digital marketing.
However, the situation has changed significantly. Since COVID-19, many companies in the bio and healthcare sectors are increasingly utilizing inside sales methods.
In other words, customers can now be reached not only in offline spaces like academic conferences or seminars but also through digital marketing.
Therefore, for a well-branded company, a sales process is needed to effectively respond to customer inquiries.
And for brands that haven’t yet generated enough leads, strategies like Google SEO or LinkedIn marketing are necessary to acquire new customers.
What Kind of Marketing is Needed in the Bio and Healthcare Sectors?
The bio and healthcare sectors require a meticulous approach. The most crucial aspect is to quickly adapt to regulations and trends.
Therefore, if you use overly highlighted ad copy solely for marketing performance, it could lead to exaggerated advertising or regulatory issues.
It’s better to create ad copy that feels somewhat refined and stable.
Given this situation, the media that can be used are often limited.
Even when trying to run search ads, the search volume for specific keywords is low, making paid advertising ambiguous.
As a result, many use PR strategies like online press releases, which help build brand image or marketing campaigns with IR in mind,
but they are somewhat insufficient for attracting customers for B2B contracts.
Therefore, media like LinkedIn are often used, but LinkedIn’s efficiency is not as dramatic as expected.
When I talk to B2B marketers in the healthcare industry, many evaluate paid advertising, such as search ads, as less effective.
Since the market is very narrow anyway, most people searching for relevant keywords are already industry professionals,
and many believe that if someone is searching with specialized keywords, they would find you even without paid advertising.
Ultimately, while LinkedIn is good, I believe search engine optimization, which allows customers to find the webpage without spending on ads, is most necessary.
For healthcare marketing, I believe the most important thing is how efficiently online PR, search engine optimization, and LinkedIn are used.
How should Bio Companies Prepare for Overseas Market Expansion?
Expanding bio companies overseas is not significantly different.
Participating in overseas exhibitions and conferences is a common strategy for many companies.
However, this can also be done online. As mentioned earlier, it’s entirely possible using Google SEO.
Keywords in the pharmaceutical and bio sectors are often universally understood. Therefore, global SEO can sufficiently cover them.
In fact, SEO can achieve greater effects when conducted globally.
Because, when considering search engine optimization in Korean, the number of countries and people who use Korean worldwide is very small, but…
There are far more countries that use English. Personally, if I were to invest the same amount of time, I think global SEO offers better cost-effectiveness than domestic SEO.
Therefore, if you are considering bio marketing, it’s a good idea to also consider global SEO.
How should Global CRM be Built?
There’s another factor to consider in global marketing.
That is compliance with global data protection regulations such as GDPR (General Data Protection Regulation) and the California Consumer Privacy Act (CCPA).
To manage this properly, a professional CRM marketing solution like HubSpot is ultimately necessary.
Regarding GDPR, there is well-organized information on the CatchSecu blog, so referring to the content below might be helpful.
GDPR Concepts for Companies Aiming for Global Growth
There are several reasons why professional CRM software should be used.
First, for B2B transactions, the time from initial inquiry to final contract can be very long.
Therefore, a CRM solution that can systematically manage tasks is needed to nurture and consistently manage leads.
Also, a CRM solution is a space for managing customer data, so it is directly related to sales.
In other words, having a CRM process established is equivalent to having a sales process established.
A CRM platform helps increase the success rate of B2B contracts by enabling systematic management of sales-related tasks.
What Does it Take for Successful Bio Marketing?
Bio marketing seems to be an area that takes a lot of time compared to other fields.
It takes a lot of physical time because marketing must be conducted after resolving various reviews and regulations. Also, it takes a long time for a brand image to be established within the market.
Because of this, even if marketing like Google SEO or LinkedIn is carried out, results often do not appear in the short term.
Therefore, if you are planning bio marketing, I believe it is more rational to set a tight budget and plan a marketing strategy that can be carried out for a long period.
