Big Love (Of Big Data) in the Life Sciences Industry

I love meeting with marketers in the Life Sciences industry. Whether it is with an executive at a Blue Chip Pharma, a Medical Device Market Leader, or a smaller but highly competitive lab company, they take a pragmatic approach to their craft and have a clear understanding of the challenges in the current sales and marketing environment.


A Data Focused Approach

These dynamic leaders are very data focused and results driven. They gather expensive market research data from places such as physician roundtables, consultants, social media, and of course, “Big Data.”

Distribution of Big data investments

Companies spent nearly $30 billion in the United States in 2016 on marketing, with 68% of this spend directly targeting medical professionals such as prescribers and decision makers.

While all of the above strategies are important, most marketing organizations are still failing to tap into their richest data resource to help guide content strategies aimed at these prescribers and decision makers: Their field teams.


The Role of Sales Enablement Platforms

A cutting-edge Sales Enablement platform and strategy increases intel and collaboration throughout the sales cycle, allowing marketing to rapidly create more timely content. Sales teams that adopt such a platform become an integral part of the data process for marketing.

As a result:

  • Costs are reduced as less relevant marketing materials are produced less often.
  • Revenue increases as a wonderful selling cycle is created: Increased and faster marketing intel means relevant content reaches sales teams more quickly, leading to more time with decision makers and still more (and faster) intel.
  • Compliance requirements are met as marketing has full control of the content that they share with their sales team.
  • Learning and training opportunities are available directly within the platform to help the sales team better understand and use the content that they receive.

Ask yourself: Do you have a comprehensive sales enablement strategy that allows your sales team to truly partner with your marketing team? Does your competition have one?

After developing a strong sales enablement strategy, Life Sciences companies often feel the need to invest in a Sales Enablement platform tailored for their industry.

Wondering how to evaluate Sales Enablement platforms? Check out our Sales Enablement Vendor Evaluation Guide that includes all of the key areas you should evaluate a Sales Enablement vendor in before buying.