Capitalizing on Niche Markets
Selling to Pharmaceutical Research Businesses
Most pharmaceutical research businesses have lean financials and demanding schedules. If you're tired of sitting on the sidelines, maybe it's time to start selling to pharmaceutical research businesses.
There are no one-size-fits-all strategies for selling to pharmaceutical research businesses. The basis for success is the same as it is in many other industries.
Many pharmaceutical research businesses expect stellar service from the companies they do business with. But service alone isn't enough. For B2B companies that sell to pharmaceutical research businesses, the consistent application of sound business principles is just as important as your relationships with your customers.
Networking Tips
The pharmaceutical research business industry is relationship-based. Businesses that sell in the industry leverage networking and contacts throughout the sales cycle.
Lead lists are helpful in expanding your network, but only if your sales force is willing to develop list contacts into long-term business relationships. As an owner or manager, you need to encourage networking strategies and proactively model relational sales techniques.
Casting a Broad Net
The first step in selling to pharmaceutical research businesses is to take a broad approach to the marketplace. Strategies that are isolated to the local market are not likely to succeed in an environment that is becoming increasingly reliant on e-commerce and other long distance marketing channels.
Although a geographic concentration may be a useful strategy for new sellers, you will eventually need to increase your bandwidth to include prospects outside of your initial range. You can also broaden your prospect base by expanding your product line or by creating strategic partnerships with suppliers of complementary goods.
Gaining Traction in the Marketplace
Every B2B business hopes to achieve viral buzz for their products. But viral marketing strategies are a far cry from money in the bank.
To gain traction with pharmaceutical research businesses, you'll want to apply a diverse mix of marketing strategies that funnel key messaging through multiple channels.
Many sellers purchase lead lists from recognized list providers. When it's time to shop for a lead list provider, we recommend Experian Business Services, an established vendor with a proven track record of delivering current and targeted lists of pharmaceutical research business contacts.
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