How to Better Communicate the Benefits of Your Bioproduct
Biotechnology is coming of age. There are well over 200 medicines and related products created from biotech techniques currently available, and FDA approval of biotech drugs is expected to outpace pharma approvals over the next few years.
However, as biotech companies move from R&D-focused activity to commercialization, they will be challenged to make the transition from successful developers to successful marketers. A key factor in their success will be clearly communicating the benefits of emerging classes of biological drugs, such as Mabs and multikinase inhibitors that target causes or pathways of disease. Their stories can be more complex than the traditional pharmaceutical model of how a particular chemical addresses certain symptoms.
Clear, consistent communication helps build a sustainable brand for a product—a brand promise that has staying power in a volatile marketplace. There are certain steps biotech firms can take to make the benefits of their products readily understood and embraced.
Determine the Brand Focal Point
The brand-positioning focal point helps you write a positioning statement that pinpoints how and why your product uniquely meets customer needs. The brand focal point is the intersection of market perceptions, corporate aspirations, and organizational values—where the market thinks you are, where you want to go, and what is inherently true about your organization that will contribute to your product’s success.
To determine your brand focal point, survey a sampling of all those affected by your offering, including customers, patients, management, and employees. Ask external audiences their perceptions of your company. Ask internal audiences how they believe your company is perceived, what its values are, and where the company wants to be in five years. Their responses will help you capture the unique value of your product and company in a way that is credible to the market.
Once you’ve gathered this information, it’s time to write the positioning statement. As a starting point, try the standard model for product positioning:
“For [target audience], the [product brand name] is the [product type] that [differentiator] and [key benefit] because it [primary reasons why].”
Take the Elevator Test
A good gauge of a positioning statement’s usefulness is the elevator test: Can it clearly communicate your story in the 15 seconds it takes to ride the elevator with someone?
A former colleague recalled working with a healthcare executive of whom it was said, “If you ask him the time, he’ll tell you how to make a clock.” Occasionally when working with biotech clients, I’ve observed a tendency to employ R&D language when describing a product or its benefits. R&D jargon can be exacting and useful when explaining how and why a product works. However, it can also lead to complicated explanations.
Here are some tips to avoid getting bogged down in too much detail:
Focus on the need. Remember the famous sales anecdote about the hardware company executive who said, “Our customers aren’t buying quarter-inch drill bits. They’re buying quarter-inch holes.” What is it your customers need? A biological process or the result of that process?
Use simple language. “Use” instead of “utilize,” “with” instead of “accompanied by” and “after” instead of “subsequent to” are just some examples of ways to simplify phrasings. In general, don’t use a 75-cent word when a 25-cent word will do. Words with fewer syllables are easier to understand and remember. Save complex concepts for detail aids. Ads, e-mails, and other awareness-building tools should focus on topline messages. Once the customer is engaged, secondary pieces such as technical sheets can be used to provide appropriate detail about mechanism of action and the finer points of the science behind your product.
Remember the patient. The endpoint of R&D is sometimes viewed as getting the product through clinical trials and on the market. The product’s true endpoint is better care. Let that notion serve as your compass, the “true north” that helps all other messages align.
When it comes to biotech marketing, the simpler approach is the stronger approach. Remember the need and remember the patient. There will be plenty of opportunity to get technical with the customer once you’ve captured their attention.