Traditional lead gen is poorly suited to Life Sciences marketing and sales
Traditional marketing approaches rely heavily on generating a large number of marketing leads, then spending months on nurturing campaigns with broad reach and spend. Once these campaigns have narrowed the funnel to eliminate some leads and deliver the remaining MQLs, our sales teams often struggle to act on them, deeming them unqualified or perhaps unsure of how they were qualified. Once the leads are handed off to sales development or sales managers, there is still a great deal of research and qualification required before outreach is meaningful and relevant. Because of the fast pace of change in pharma and biotech organizations, this often means that by the time you’ve qualified a lead, you may have missed the window of opportunity to get in on programs at the right time.
When fewer leads are better
With an account-based marketing (ABM) approach, leads originate from accounts that match your ideal customer profile (ICP). For Life Sciences commercial teams, that means that your target accounts should be a fit for not only your products and services, but also should have the financial, market, and business potential to succeed. Knowing an account is a match across very specific parameters, as in the illustration below, is the best way to qualify them.
Leveraging your ICP means you’ll be dealing with a manageable number of highly-qualified leads and that can give you a significant advantage.
Targeted leads are more likely to convert
Amplion’s machine-learning platform does the matching for you, analyzing the entire biomedical landscape to identify companies that match your ICP and alerting you to activities in those accounts that indicate when to reach out. It’s like having a team of PhDs and SDRs working for you 24/7. Now your marketing and prospecting campaigns become personalized and streamlined, with improved conversion rates. Your sales team is spending much less effort to qualify accounts by using a holistic, scientific approach rather than an ad hoc, manual one, and they’re closing more deals. Welcome to your “smarketing” future.
How your ICP works for you
With the Amplion platform, you can choose from any number of dozens of attributes to build as many ICPs as you need to identify your target accounts. Here’s an example of an Amplion ICP for a small research solutions provider:
|Organization headcount||< 250|
|Organization HQ||Located in the US|
|Number of biomarkers||> 0 measured biomarkers|
|Evidence date||Relevant publication in the past 2 years|
|Sample matrix||Serum, plasma|
|Diseases/therapeutic areas||Immunology, oncology, rare disease|
|Drug class||Cell therapy, NKT cell therapy, regulatory T-lymphocyte cell therapy, stem cell therapy, T-lymphocyte therapy|
Learn how an Amplion user leveraged their ICP and targeted account notifications to close more deals.
We recently worked with an Asia-based business development team that wanted to broaden their market focus to pharma and biotech companies in the US, EU, and Japan, based on specific attributes aligning to their key product capabilities. Learn how they automatically identified 130 target companies and amped up their results with highly-targeted lead generation.