An anonymous gift of $16 million in science research funding to the Raymond and Ruth Perelman School of Medicine at the University of Pennsylvania will fund the establishment of the Neuroscience of Behavior Initiative, which aims to strengthen Penn’s program in basic, translational, clinical and population research into the areas of addiction, depressive disorders and neurodegenerative disease. The gift is the single-largest donation for neuroscience research in the school’s history.
Science Market Update
Coming to the world of science sales by way of the laboratory, new laboratory sales representatives may dismiss the value of advertising, marketing, sponsorships and related services in the process of selling lab equipment and services. In some cases when a product and its brand are ingrained in the customer's memory and familiar from repeated, loyal use it may sell itself. However, in most instances, effective branding is needed to ensure loyalty and familiarity with a company's products and services.
Why should lab suppliers build their brands?
- Strong brands benefit from ongoing credibility and trust associated with high quality. This is especially important in the world of science experimentation where any variable that can be eliminated saves time in answering the researcher’s questions.
- Brand recognition can drive laboratory product sales as a researcher becomes comfortable with your company and products.
- A strong brand allows you to stand out from competitors with sound-alike and look-alike lab products and services.
- In general, it is easier to command higher prices for known brands with recognized high quality.
- New products from familiar brands generate interest more quickly from the active research community than similar products from unknown companies.
Current science events including life science product and technique seminars are one of the best scientific sales and marketing tools used by companies to gain exposure, establish credibility and build name recognition in research communities.
What happens when you bring together a pathologist with a group of computer scientists specializing in quantitative light imaging? In the recent case of research colleagues at the University of Illinois Urbana-Champaign (UIUC), you get a very promising solution to the problem of analyzing large groups of red blood cells for abnormalities that may point to serious diseases such as sickle cell anemia and malaria.
Is Reaching out to researchers to educate them about your new products not as rewarding as it once was?
Finding quality sales leads a hair raising experience? Life science trade shows may be the answer!In today's market, maximizing your scientific sales and marketing efforts is crucial to securing quality leads and generating sales. In addition to national trade shows, lab visits, email, etc., on-campus life science trade shows offer an opportunity to meet with researchers who are at the forefront of today's life science breakthroughs.
Another day in the trenches got you down?
Any science supply company can purchase a booth or tabletop display at a national or boutique science related trade show, send a sales rep and some literature, and if the product is good they will likely get leads. The best leads --the most eager, most relevant and most urgent leads-- usually convert to sales. The best sales reps get more leads, follow up on them faster, and communicate the company's value proposition better, converting more of them to sales than their less competent counterparts.