The biopharmaceutical industry is consistently evolving with new marketing strategies to target consumers with B2C sales and businesses with B2B sales. And with biopharma producing some of the most revolutionary medications to date, these medications must reach the right people.

Be it the COVID-19 vaccine, the development of new antibiotics, or the testing and refinement of existing drugs. It can be difficult to get your new drug to those who may need it most without a competitive marketing strategy.

And with biopharma being a very competitive industry, not just within biopharma but in other industries such as the pharma industry, a great marketing strategy is essential.

In this article, we’ll be going over the marketing strategies you should consider, no matter the size of your biopharma company or the product you are developing.

A Good Commercial Launch Strategy

If your new product is designed for the commercial market, you’ll need a launch strategy that ticks all the boxes. Considering the endpoint is important, but things like brand reputation, the reputation of drugs similar to your own, and considering your main competitors are all good starting points.

However, an in-depth analysis of evolving customer dynamics is essential to understanding value drivers in your customer base.

You’ll not only need to think about how best to position your product in the market to benefit the patients the most but also to increase profit margins as much as ethically possible.

Your launch strategy will be the lynchpin in developing a successful drug for the commercial market. Do you want a TV segment? Radio segments? Do you want to rely on professional medical referrals? Is your drug available over the counter or off a shelf?

These are all critical factors to consider in how your drug should be launched. It may be worth consulting companies such as Clarivate, who can provide detailed and comprehensive competitive biopharma intelligence solutions. With a stellar launch strategy, they can give your drug the edge it’ll need to take on its main competing products.

Make Use Of Search Engine Optimization

Search engine optimization (or SEO for short) is a critical marketing tool many biopharma companies neglect to use. This type of digital marketing can produce long-lasting results that drive conversations and sales from organic website visits.

In essence, SEO will aid your business in getting organic search traffic from search engines like Google and Bing by ranking your website for key terms that your customers may use to search for your products online.

There are a lot of different factors to consider that can create results from search engine optimization, such as on-page SEO, technical SEO, social media-based SEO and more. However, applying successful SEO to your website can be difficult without professional help from an experienced freelancer or agency. This is particularly true for technical SEO, which often involves working on website backends.

If done well, a fully-fledged SEO strategy can do wonders for website traffic, conversation rates and overall sales by increasing your online share of voice and sphere of influence over key search terms called keywords.

Sitting the marketing budget aside for this is critical to marketing your new product online.

Invest In PPC Advertising

Staying with digital marketing, for the time being, investing time and money into PPC (pay-per-click) advertising is a great way to reach relevant customers quickly. There are a few ways you can implement PPC into your marketing strategy, depending on your customer demographic.

If your product can be sold without the involvement of a medical professional, then you can implement PPC adverts on social media networks such as Facebook, online marketplaces such as Amazon, or via search engines themselves.

Even if you can’t sell directly to patients, you can increase brand awareness or target medical professionals with these ads by bidding on key search terms. Each bid you win for an ad placement will show your ad to a relevant customer.

This is a great strategy for quick results.

Have A Dedicated Expos Team

Of course, a sure-fire way to drive sales is attending expos. A dedicated team preparing for and attending as many expos as possible is still a brilliant way to drive sales in 2022.

This strategy is ideal for those products that aren’t B2C and need direct medical professional involvement for their use.

Many companies won’t have a team of people working on expos specifically, so having an in-house expos sales expert can help your brand and product steal the stage.

This won’t be ideal for every product or brand, but you’d be leaving out a potentially lucrative revenue stream by not attending at least the big expos in the year.

In Conclusion

We’ve only scratched the surface with biopharma intelligence strategies to drive sales. There’s an abundance of strategies and tactics that can be employed for your product or brand.

We hope this serves as a good starting point!