In today’s dynamic and highly competitive landscape, life science startups must not only develop innovative solutions but also effectively position themselves in the marketplace. Life science marketing is one of the most powerful tools available to these companies, enabling them to shape perceptions, change behaviors, and ultimately succeed in a crowded space.
When launching a new product, life science startups often focus on beating out direct competitors. However, one of the most significant and often overlooked challenges is changing existing behavior.
As Susan Willig noted in her webinar, even if a new product is superior, it’s difficult to ask users to alter their habits and adopt it. Therefore, the success of a product depends not just on its innovation but also on how seamlessly it fits into the user’s existing workflow and habits. A critical life science marketing challenge is identifying how much behavioral change a product requires and whether it's realistic for users to adapt. For many startups, the real competitor is not another company, but the inertia of current habits.
Life science marketing strategies must also focus on removing friction points that hinder product adoption. Whether it's simplifying the user experience or addressing logistical barriers in healthcare settings, understanding these pain points can significantly improve adoption rates. Willig emphasizes that this is one of the most pivotal ways to push product adoption forward, and many companies invest heavily in friction reduction.
In highly specialized fields like life sciences, establishing thought leadership through white papers, articles, and case studies can be an effective way to build credibility. Startups can begin by publishing content related to the diseases or challenges their products aim to solve, even before the product is fully launched. This not only positions the company as an expert but also creates anticipation for the product.
You can’t effectively execute a life science marketing plan without truly understanding who you’re marketing to, and that’s where personas come into play. Willig suggests defining your target audience in excruciating detail. What do they wear, what do they do, do they have families? Understand their demographics, usage patterns, needs, and emotional drivers. What is their rational need, and what is their emotional need?
For instance, a product designed for younger audiences may require different marketing tactics than one targeting an older demographic, as in the case of insulin pumps, which originally targeted younger users but later needed modifications for older patients as people have lived longer. By developing these personas, teams can align their packaging, messaging, and overall branding strategy with the specific needs of their target customers.
If there’s one thing that needs to remain consistent across a life science marketing strategy, it’s the messaging. Carefully crafted brand messaging is crucial for a successful life science marketing strategy because it defines how your startup communicates its value to stakeholders. In a highly technical and competitive field, clear, compelling messaging helps translate complex scientific concepts into relatable benefits for customers, investors, and partners.
In a crowded market, storytelling can be a powerful differentiator. Willig explained that a value proposition should not just be a list of features, but an organizing thought that ties into a broader narrative. This narrative should convey how the product uniquely solves a problem or fulfills a need. For example, a startup focusing on early cancer detection should not just claim it can detect cancer early; it should emphasize why its specific approach—such as using nanoparticles—is more effective or accessible than other solutions. This storytelling approach helps make the product more relatable and memorable to investors and customers alike.
Simplicity is critical when communicating the value of a product, especially in the complex field of life sciences. Drawing from the teachings of marketer Seth Godin, Willig highlighted the value of "permission marketing"—communicating in a way that respects the audience’s time and attention.
Startups should aim to make their life science marketing simple and clear. Rather than overwhelming potential customers with jargon and complex details, companies should focus on the specific, tangible benefits their products offer to increase the likelihood of adoption.
Consistency is a fundamental principle in general in marketing, and this remains true for life science marketing. It’s critical to stick to a clear, recognizable brand identity. For instance, Willig shared how she consistently used the color raspberry as part of her branding to create visual cues that reinforce her identity.
Furthermore, consistency is crucial because consumers today are bombarded with marketing messages, requiring 15 to 18 reinforcements for a message to stick—double the number needed in the past.
🔬Learn about marketing your life science startup for growth!
Willig emphasizes the importance of testing and refining life science marketing messaging. Many companies rush through the process of defining their value proposition, assuming they know what will resonate with the market. However, taking the time to rigorously test different messages and approaches often reveals insights that can lead to more effective life science marketing. For life science startups, this iterative process can be the key to finding a message that sticks and drives behavior change.
In the highly competitive life sciences sector, life science marketing plays a vital role in distinguishing a startup from its competitors. It is not just about having a superior product but also effectively communicating the value proposition to the right audience.
When developing a life science marketing strategy, there are a few vital components that need to be considered. From audience to value propositions and content creation, understanding these features will help develop a comprehensive and successful life science marketing plan.
When pitching to investors or potential customers, the focus should be on creating a compelling value proposition. In the webinar, Willig emphasized that a good pitch goes beyond listing features and capabilities; it must articulate the product's unique value in a simple and memorable way. Instead of only using technical marketing language, it’s more effective to instead frame pitches with more human-centered, results-oriented messaging.
🔬Learn how to write an award-winning elevator pitch
Life Science Startup Pitch Deck Essentials
The following list represents some of the key life science pitch deck essentials.
🔬Learn how to craft the perfect biotech pitch deck
Let’s review an exercise that illuminates the value of a good life science elevator pitch and pitch deck.
For example, someone could pitch a company by saying they will: “Create brand strategy, marketing plans, go to market strategy, value propositions, competitive analysis, launch products, portfolio architecture, naming, and more.”
While this may be a detailed and accurate statement, it is convoluted, confusing, and drawn out.
What if, instead, you pitched your life science startup with: “We know where to focus your time, money, and resources for greatest impact and optimal growth.”
This pitch is far more directed. Instead of a general umbrella message, this message contains specific facets that make the company unique and special. It gives life science startup investors reasons to believe, which include:
By the end of your pitch, you want investors to know exactly what your product is. After all, it takes 15 to 18 reinforcements to make a message stick.
🔬Learn more about common mistakes in Biotech pitch decks
A startup’s value proposition should be tightly aligned with the needs of its audience. One common pitfall is creating a generic value proposition that doesn’t stand out in the marketplace. For instance, claiming that a product improves patient outcomes or saves time is not unique; these are table stakes in the healthcare industry. Instead, companies should craft a value proposition that highlights what makes their product special.
It’s important to not only communicate the technical features of your solution, such as patent-protected algorithms or scalability, but also to answer a crucial question: Why will people buy your product? Willig recommends creating an overarching value proposition and tailoring it for different audiences, such as investors, clinicians, and patients. This ensures that the messaging resonates with each stakeholder while maintaining consistency. Through effective market research—ideally primary but secondary if necessary—startups can understand the real needs of their audience, both rational and emotional.
Further, each product within a brand should have its own, distinct value proposition. Each of these products should ladder up into the main portfolio product. For example, Mini Cooper is a product within the brand and main portfolio of BMV. However, Mini Cooper is its own, distinct entity.
Do you have a great company in the bioscience or medtech industry? Do you need wet-lab and/or fabrication space to develop and test your product?
