Whether you are a new venture, an established company launching a new product, or just want to make sure you are positioning your existing products correctly within the market, knowledge about your competitors is essential. You need to know who you’re up against, what companies are buying their products, and at which price so that you can make your offering stand out amongst the crowd.
In this blog we will take you through the ways the SciLeads lead generation platform for life science can help you do just that, and how our market intelligence can help you to strengthen your go-to-market strategy.
Find Which Scientists are Using Competitors’ Products
The SciLeads platform contains data on millions of scientific papers. This allows you to see which researchers are using your competitor products and run a campaign targeting them.
Using the pricing information, in combination with grant data allows you to run tailored campaigns aimed at newly funded prospects with tempting deals for your offers and beat the competition to new sales.
Find the Perfect Market Positioning
When launching a new product it can be difficult to know where demand lies, and how the target audience will value your offering. Using the competitor information available through publications and the Purchasing Search in SciLeads, you can get an idea of the size of the potential market for your product. You will also be able to determine if one major competitor holds a monopoly in that market, or whether you will be facing several competitors vying for the same prospects.
Let Their Weaknesses be Your Strength!
Often we hear news about your competitors’ struggles in the marketplace, such as supply chain issues. Where this occurs, reaching out to their customers with your own version of the products, which are readily available, allow you to secure new business easily and quickly.
Deciding Which Events to Attend
SciLeads’ BioPharma product allows you to see which of your competitors are attending which scientific tradeshows. This information is invaluable for making decisions on whether to invest in a certain event. If all of your competitors are attending an event that you know has the highest potential for business, it may well be worth investing more in that event so that you stand out from the crowd. However, if the event seems not to feature any of your competitors, you may be able to get a great return from a smaller investment.
You can also take the list of your competitor end users and determine which shows they are attending.
Alternatively, if you know your event budget is limited, rather than risk being overshadowed by competitors who may be able to afford a much bigger and showier presence, you may wish not to attend at all, and invest in an online campaign instead.
Either way, the information in SciLeads takes the guesswork out of which events to attend. For more information on getting the biggest ROI from tradeshows, download this guide from Visiopharm, Arima Genomics and PSG Life Sciences.
To get a tailored demo of the SciLeads platform, and find out the other ways it can help you boost your scientific sales and marketing campaigns, book a live demo below.