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.

How can lab suppliers build their brands and ensure laboratory sales growth?

• Advertise using print, electronic and paid editorial content to promote your products and company
• Participate in social networking, face-to-face networking and strategic outreach networking regularly
• Garner media attention and scientific paper citations
• Participate as a company in trade shows, meetings, conferences and symposia
• Participate actively in sponsorships, partnerships and education programs

 

Exhibiting at a research trade show and meeting laboratory researchers is a great first step to being successful in scientific sales in the highly competitive laboratory supply and service market. However, to give your company a real boost, sponsorship is a great way to jump start the growth process. Even a simple and relatively inexpensive sponsorship, properly timed and executed, will bring your company visibility, loyalty and bottom line results.

Why should lab equipment suppliers use sponsorship programs to build their science brands?

• The higher cost of participation means lower competitor participation in sponsorship programs so your company stands out as an easily recognized and serious player in the market, visually placed above the rest
• Sponsorship generally creates goodwill with the event audience, with the sponsoring company seen as a supporter of the event, and of the community attending the event
• Bundled sponsorship packages are often even higher in exposure value through compounded visibility, as electronic, print and directory advertising are offered alongside significant event signage, at-event announcements, pre-show publicity and press attention
• Bundling many forms of publicity together also results in significant savings to the sponsoring company - often saving 50-75% off the costs of the same exposure purchased separately

The primary benefits of using sponsorship programs to target research audiences include:

• Increased visibility of laboratory suppliers among researchers and scientists at top research universities nationwide
• Differentiation of the supplier’s company from competing companies present at the event
• Driving traffic to sponsoring supplier’s exhibit booths and increasing interest in sponsoring companies product demonstrations
• Achieving a cost-effective ROI through use of multiple types of media exposures and benefiting from package savings typically associated with bundled sponsorship packages
• Heightening the supplier’s  credibility and establishing their company as a supporter of local scientific research communities

We had an antibody supply company try a bag sponsorship for the first time at a targeted life science product show.  They saw a 90% corporate recognition rate after the event took place. Since the bags they supplied were of high quality and had won design awards, this company can look forward to increased visibility for months to come as the bags are reused in and around the campuses of the attending researchers. Sponsorships at these events typically increase booth traffic from 50% to 250%, and follow-up sales calls generally report a more positive recognition of the company and its products.

To find out more about and participate in sponsorship programs from Biotechnology Calendar, Inc., contact our trained sponsorship consultants.  They will assist you in developing a customized, fully activated sponsorship program. Our goal is to create a tailored program that will ensure that your objectives are met and your expectations are exceeded. If you are looking for a unique way to maximize company visibility, increase brand loyalty, establish new contacts, create interaction with researchers, stimulate sales or establish unsurpassed exposure in the on-campus life science community, a Biotechnology Calendar, Inc. sponsorship may be just what the doctor ordered.