The life sciences industry — along with the rest of the world — is growing and expanding at an ever-increasing rate, propelled forward by the exponential growth of 21st-century technology and near limitless online connectivity. This level of growth can be a double-edged sword. It inevitably necessitates powerful inventions and more aggressive innovations. At the same time, however, this exponential growth leads to supply chain challenges and substantive shifts in workplace culture, project communication, and overall procedure. Thankfully, such a surge in productivity also means there are plenty of promising opportunities on the horizon, and your next big success could be right around the corner.
As an industry, the “wait and see” days are behind us. The time for action in clinical research and drug development is today, tomorrow, and even yesterday. With that in mind, we recommend digging into your marketing plan for 2023 with passion and purpose. Here’s why you should get started now.
- Marketing planning clarifies intent and empowers team members to work within a known decision making framework. Teams can maintain greater alignment when they work toward clearly outlined common goals.
- Marketing plans also set the scaffolding for measurable goals. With a clear plan, you can identify KPIs and effectively benchmark ROI. More importantly, measurable goals and constant benchmarking can foster a culture of accountability.
- Executing a viable plan will get you closer to your objectives while keeping you in line with your strategy and budget. Consistency and sustained effort can compound performance, whereas sporadic marketing tactics can fail to create traction.
- A robust plan gives you a blueprint to follow (or to reference) when uncertainty arises. When goals and objectives are defined, it’s easier to determine which tactics would support or detract from the marketing and positioning strategy.
- Marketing planning enables you to make fast, strategic decisions when new opportunities (e.g., a new conference, a rise in demand) or threats (e.g., a new competitor, uncertainty in the market) arise. The stronger your marketing strategy, the more flexible you can be.