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About Latest Posts Follow MeNanda RahmaniusI'm a Blogger, Internet Marketer and Online Entrepreneur who Work at Home Online. While all comments are read and appreciated, only comments using HUMAN NAMES will be approved. Summary: In this issue we examine in more depth the ladder of marketing-based lead generation for life science, med-device and biotech companies. The worlds of biotech, drug discovery and medical devices are changing, and changing rapidly. By now you should be familiar with the ladder of marketing-based lead generation, a concept introduced in the last two issues of this newsletter. The ladder is a scaffold that supports all your lead-generating activities (also known as touchpoints). Figure 1: The ladder of marketing-based lead generation is a way to organize ALL possible lead-generating touchpoints in your organization from Personal Interactions at the bottom to Free Exposure at the top. To be effective in engaging your prospects, you need more than simple visibility; you also need to be attractive to your prospects. One-on-one touchpoints: The lowest rungs of the ladder are composed of those lead generating activities that involve one-on-one contact, such as Personal Interactions or Outbound Solicitations. Content Marketing touchpoints: The newest rung on the ladder is composed of touchpoints that demonstrate your unique value, primarily through the distribution of valuable content to your life science, med-device and biotech prospects. Free Exposure touchpoints: The highest rung on the ladder is composed of touchpoints that result in free exposure for your organization. Let’s outline the steps you can take to create your own ladder, and some issues to keep in mind as you measure and improve your portfolio of lead generating activities. If you need help getting started building your own ladder of marketing-based lead generation, you can obtain a sample Excel template from our website. Begin by building your own lead-generation tracking tool, categorizing all of your lead-generating activities in one location. Call to action – what change in attitude, belief or behavior does this touchpoint seek to accomplish? Typical stage in the buying cycle – at what stage in the buying cycle is the primary audience, if known? You can group your touchpoints as I have organized them in Figure 1, with foundational activities at the bottom and the various rungs above that. By looking at the metrics associated with your past lead-generating activities, you will be able to compare the performance of each. Given the response we’ve received on this topic, there is a significant amount of interest in lead generation. As you create your own ladder, make sure it’s focused on your specific situation and captures information that is important to you.
Using your ladder of lead generation to look at your past history, you should be able to answer questions that focus on future opportunities. And since marketing is not an exact science, there are some caveats (hey, even the “exact sciences” have caveats).
It is difficult to identify the precise origin of each and every lead, and attributing each lead to a specific investment of resources is almost impossible. Remember that your ultimate goals are to increase the number of people who “raise their hands” and increase the amount of conversation (or the number of touches) you have with them. To say this in another way, making all your decisions based solely on cost per lead or some other surrogate measurement could lead you to sacrifice long-term effectiveness for short-term expediency. Making all your decisions based solely on cost per lead or some other surrogate measurement could lead you to sacrifice long-term effectiveness for short-term expediency. Given these two caveats, it is wise to “hedge your bets” by using multiple lead-generating tactics. Once you become comfortable with the ladder as a tool for tracking your lead-generating activities, you can begin the process of optimizing the performance of each individual touchpoint and the mix of all touchpoints for your biotech, med-device and life science audiences. Build your ladder of lead generation tracking tool; a spreadsheet is an effective way to do this. Typical stage in the buying cycle – what stage in the buying cycle is the primary audience in, if known?
Remember that attributing any one lead to a single lead generating tactic is difficult at best.
Focusing on surrogate metrics (such as “cost per lead”) should not overwhelm your ultimate goals: increasing the number of people that “raise their hands” and your level of conversation with them. The Marketing of Science is published by Forma Life Science Marketing approximately ten times per year.
Forma Life Science Marketing is a leading marketing firm for life science, biotech and pharma companies. David Chapin has a Bachelor’s degree in Physics from Swarthmore College and a Master’s degree in Design from NC State University.
A customer focused business ethos is a proven method to increase the chances of a sustainable and profitable future. The plan is a detailed written document which can be used to promote a single product, of form the annual business strategy. Stage 1: Research and planningUnderstand your customer and the marketing environment, look for opportunities for growth. Stage 2: Developing your marketing strategyIdentify objectives and choose the right path to exploit opportunities highlighted in the research stage. The marketing plan should provide direction for all relevant members of the organization and should be referred to and updated throughout the year. Examining both the internal and external marketing environments can identify both opportunities and threats to the business and is a core component of the plan.
A commonly used method of quantifying the macro external environment is with a PEST analysis.
The micro-environment includes factors which are still not directly under the control of the company, but more directly relevant to strategy such as consumer trends, stakeholders, suppliers and competitors. The internal marketing environment includes factors that the business can directly influence. Once you have completed the internal and external environmental audit, you can summarise your findings using a SWOT analysis which can be used to make key decisions. A 'SWOT analysis' is a useful way of summarizing the results of the environmental audit and presenting the current status of a business. A vision statement is a more long term, ideal-world statement which outlines where you would like to take the business in the long run. Combined with the mission statement, your objectives should be the key statements that drive your business.
Most businesses need to grow, and the Ansoff Matrix (below) is a method of determining the best course of action if growth is your priority. Once you have determined the product and market you want to be in, the next problem will be setting a price.
The marketing mix is a selection of customer focused business elements which work together as a toolkit to market your product or service.
Market penetration strategy – deliberately low pricing in order to enter or control a market quickly.
Place refers to the method of getting your product to the consumer - this could be a dealership or an online shop.
Promotion is much more than just advertising - this is the discipline of marketing communications. People refers to all the customer facing staff in your organisation, not just the sales staff. Process refers to the procedures which are followed when delivering a service to a customer. This element of the marketing mix should also include your customer relationship management (CRM) process, or in other words, how you manage customers through the purchasing funnel. When using the marketing mix, it is important to keep in mind the three generic stages of marketing - segmentation, targeting and positioning. An action plan is core to the marketing process – a constantly evolving document which is cascaded to the relevant people and monitored regularly.
The final stage of the action plan is the implementation of measurements and controls and reporting results. The balanced scorecard approach is a widely used method of monitoring overall performance and ensuring daily work is focused on the strategic objectives.

Traditionally, businesses have tracked success based on just one measure – financial results.
Now that you have an accurate picture your plan's success it is important to feedback this information in order to fine tune the strategy and update your actions accordingly. The marketing planning process is a comprehensive method for examining your business, your market and the environment in order to develop a strategy to exploit opportunities. If you are responsible for creating a simple marketing budget for your company then you probably need to find somewhere to at least get started. Probably the most amazing aspect of this template is that it is completely free to use for as long as you need it. This marketing project plan template is absolutely the easiest budgeting system out there and if you want to get the most accurate marketing budget possible this is the place to get started. Marketing plan - slideshare, Excellent presentation slides on how to develop an effective marketing plan. Agriculture produce farm sample marketing plan - liveplan, The executive summary page mplans.
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That only leaves one question: what small step are you going to take today that can transform your affiliate business and help you achieve success affiliate marketing? If you are new here, you might want to subscribe to the RSS feed for updates on this topic. While Facebook can be used as a chat service, it is better used as a long-form content sharing medium. If a portion of your Facebook site is hidden from casual viewers, they will follow you so that they can see the content. For example, you might run a contest asking your followers to submit pictures of themselves while using your product, then post the pictures on your page. When you attend a trade show you should create an event to share with anyone who follows and likes your page.
It serves as a way to get prospects to “raise their hands” – alerting you that they might be interested in making a purchase, and giving you permission to sell to them. I’ll briefly review the ladder and it’s components before looking at the six uses of the ladder of marketing-based lead generation. One of the purposes of the touchpoints on the ladder is to raise your visibility, so that more people in the life science, med-device and biotech companies can be educated about your offering and inspired to believe that you can help them with their challenges.
At these levels, your unique value is claimed privately, in specifically targeted encounters. This relevant, unique content should be a clear demonstration of your unique value; the more education, inspiration and (ultimately) reassurance you provide to your audiences, the more effective these touchpoints can be. These activities represent the validation of your unique value by someone else (such as a magazine editor, a publisher or a producer of a conference). In practical application there will be some overlap, but for educational purposes I am drawing clear distinctions between them; I want to focus your attention on the varied uses of the ladder. The ladder is a yardstick that you can hold up against your current portfolio of marketing activities. The ladder of marketing-based lead generation helps you plan future life science, med-device and biotech lead-generating initiatives.
The ladder can be used to ensure that each touchpoint is providing maximum benefits as an effective part of your organization’s marketing mix. The ladder can help you educate, inspire and reassure others in your organization about marketing-based lead generation. Tracking data in this manner gives you a clear and simple way to compare the relative effectiveness of your lead-generating activities.
Or you may choose to put each rung of the ladder in a separate tab in your spreadsheet as we have done in the template.
For example, you may decide that you want to track the amount of labor required to implement a particular touchpoint, the vendor used, or the travel costs incurred.
No short newsletter can diagnose your situation with enough specificity to give you a perfect answer.
As you begin, this information will mostly describe the past performance of your lead-generation initiatives. By looking at the metrics associated with activities such as your trade shows and email campaigns, you will be able to compare the performance of each. There are many reasons for this, chief among them the desire for anonymity by your early prospects.
There are many reasons for this, chief among them the desire for anonymity by your early prospects – those who haven’t yet “raised their hands.” It‘s hard to know whether the prospect that stops by your booth at a show has actually been following you and your company for years. In fact, one of the benefits of tracking all your lead-generating activities using a tool such as the ladder of lead generation is that you can begin to see how multiple tactics work together. Forma distills and communicates complex messages into compelling communications for sophisticated audiences.
The marketing planning process is at the heart of any truly marketing orientated company, and ensures the customer is at the centre of all key decisions. We have split the marketing plan into three steps, which are easy to follow and equally relevant to both small and large businesses. The main purpose of the marketing plan is to provide a structured approach to help marketing managers consider all the relevant elements of the planning process. The whole area is usually broken down into the macro, micro and internal environments as summarised in the diagram below. PEST is an acronym which divides the macro-environment into four areas – Political, Economic, Social, and Technological, examples of which are explained below.
Use the primary and secondary (first and second hand) market research information at your disposal to describe your customer. SWOT simply stands for the Strengths, Weaknesses, Opportunities and Threats which have emerged from examining the macro, micro and internal marketing environments. It should explain to customers concisely what the nature of your business is and where you are going, and also provide a motivational tool for employees. The Boston Consultancy Group matrix is a method of determining which to invest in, and which to drop, shown below. The tactical section of a marketing plan summarises how you intend to use each element of the marketing mix, which can be summarised in seven 'Ps' as shown in the illustration below. Your product based tactics link back to your overall strategy - if your strategy is market penetration (see the Ansoff matrix), then there may be little need to do anything to the product. Examples of physical evidence include a brochure for a holiday tour, customer testimonials for a dentist, or a portfolio for a website design company.
Segmentation is the detailed breakdown of your customers into as much detail as practical, targeting then ensures all elements of the mix are tailored to your identified consumer group.
Most action plans are relatively short term documents which focus on the coming year, but longer term implications should also be considered. Many models for monitoring the performance of businesses have emerged, many of which address the needs of key stakeholders and allow them to evaluate the overall success of a company. However, the scorecard system views the business from four external perspectives to gain a more relevant approach to performance metrics. This is a vital process which should be used by almost every company to ensure a profitable and sustainable future.

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If you do not understand how to get started and tips that really effective, this article will be the greatest resource you will ever know about Facebook marketing.
To maximize the impact of your Facebook marketing campaign, you have to maintain the respect of your audience. One caveat, you lose SEO when content is hidden; therefore, limit the amount of content that is hidden. Make sure you have plenty of time for Facebook marketing and consider hiring someone with social media marketing experience to help you with this project.
Their friends will be able to see where they checked in and may want to take a look at your store. We outline a process for creating your own ladder, and provide a link to a template you can customize for your own use. As these sectors fracture into hundreds of smaller niches, individual members of your audience, their titles and the companies they work for are no longer quite so easy to identify. But to be effective in engaging your prospects, you need more than simple visibility; you also need to be attractive to your prospects.
You can use it to determine many things, such as whether your current mix of marketing-based lead generation activities is balanced. Head-to-head comparisons with your major competitors’ publicly visible efforts can reveal the differences in your approaches, as well as your messages. It shows you the possibilities for additional marketing-based lead generation activities and can inspire you to reach higher than perhaps you thought possible. It can be used as the basis for a shared understanding about your marketing activities and as a shared tool for tracking these activities. If you need help getting started, you can download a sample Excel template from our website that you can customize to meet your needs.
Such additions can be useful, but remember that it is best to keep it simple at the start: document and monitor only a few key data points. What I am providing is advice on how to create your own customized tool, one that does have the ability to give you some of the insight you’re looking for.
If you attribute this lead only to the trade show, you could be underestimating the role played by other lead-generating tactics, such as your white papers. Other metrics, such as “cost per lead,” can be used as surrogate measurements, but it is important not to lose sight of the overall goal. His work has been recognized by AIGA, and featured in publications such as the Harvard Business Review, ID magazine, Print magazine, Design News magazine and Medical Marketing and Media.
No part of this document may be reproduced or transmitted without obtaining written permission from Forma Life Science Marketing. As your understanding of the audience improves, you'll be able to design products which cater for their needs better, and you will be able to communicate with them more directly.
However, if you have chosen product development or diversification then a certain amount of research and development, and product design will be needed. Positioning is the process of ensuring potential and current customers perceive your company in the intended way. This approach encourages open communication throughout the business and allows tracking of performance throughout the year. The marketing project plan template is also completely customizable and it is easy to change, so it takes no time at all to add whatever you need to add to this template to make it fit your company’s needs or desired. You will immediately see a simple budget system laid out in front of you, so all you need to do is add or change the categories and costs to match what you are expecting. Download this simple marketing project template right now and see just how much time it can save you when it comes to budgeting.
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That leads to real engagement in your brand, so don’t forget about these champions of yours!
When you put out important information, your audience will help your marketing efforts by sharing that information within their own networks. Next month we’ll finish our discussion on the ladder of lead generation by discussing some tactics you can use to improve your lead generating initiatives. Without a strong foundation consisting of a clearly articulated brand and a value that is well defined and differentiated, any visibility you generate will not necessarily result in attracting your prospects.
The ladder can allow you to see deficiencies in your current allocation (“oops, we have no content marketing activities”) as well as track trends over time. But these steps and issues should help you get started towards customizing your own lead-generating activities. There is another reason to keep it simple at this stage; entering all this information can be quite a bit of work.
From a larger perspective, there are specific tactics that can be applied across multiple rungs of the ladder, and we will cover these in our next issue.
David has authored articles published by Life Science Leader, Impact, and PharmaExec magazines and MedAd News. If you have a broad customer base, you might need to split your customers into groups (segmentation).
The template is really a great way to get started and it should save you a ton of time in the long run.
Once you have filled in the entire marketing project plan template, or at least as much as you have available, the template will automatically calculate your final budget information. Boosting your sales with Facebook is much different than just encouraging loyalty and interaction among existing customers. The overall goal is to allow you to compare different initiatives; enter the minimum amount of information that you need to achieve this goal. He has taught at the Kenan-Flagler Business School at UNC-Chapel Hill and at the College of Design at NC State University.

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