Life science startups can face a lot of challenges. Firstly, they have to go through all the market’s nuances, develop an airtight business model, and get ample funding.
Entrepreneurs and startups in the life science industry also have to go through other obstacles. This includes getting regulatory clearance, succeeding in clinical trials, and ensuring productivity.
But just because you can take all these essential steps does not mean that life will be a breeze moving forward. You still have some clinicians and researchers to convince that your products are worth trying.
Life sciences is a fast-paced industry. For your startup to survive, it is imperative to set yourself apart.
That said, here are seven proven ways on how your life science startup can gain traction:
Start a blog
The competition on search engines is incredibly competitive. That’s because every brand or business out there is aiming to get on top of search engines.
That makes sense, especially if you consider that 90% don’t even go past Google’s front page.
That’s why building a blog that creates high-quality, engaging, and highly informative content will help you rank higher on search engines.
Moreover, websites with blogs have 434% more indexed pages than those who don’t. That’s why maintaining a high-quality blog is crucial to the exposure of your site.
Get published in high-authority websites
Once you’ve created your blog, your goal is for your content to be read by users.
One effective way you can do that is to get your content published to a broad audience platform.
The primary goal of that platform is to build your audience, as well as your brand. This allows you to get your content in front of thousands of readers.
Write compelling press releases
Getting the press to cover your story allows you to bring in exposure and traction for your brand.
Create a shortlist of journalists who writes news that is relevant to the life science industry. Collect their emails and reach out if they are willing to write something about your startup.
The key here isn’t to try to oversell. What’s important is to send a newsworthy press release. Instead of saying that you are launching your life science startup, it would be best to talk about the value you can bring to the public.
But if you have more budget, you can also work closely with a press relations agency. They can help you write compelling press releases and then send it to the right people.
Leverage the power of social media
Social media, LinkedIn, especially, is a great tool that you can use in the biotech industry.
You can gain access to professionals in the biotech industry easily and quickly. Hence, you must polish your company profile.
Make sure that your business information is consistent across all your social media channels. Be part of the group where your target users are likely to hangout. Interact with them and be genuine in lending a helping hand.
The only drawback with using social media is that you will not see the benefits immediately. And if you are not tech-savvy, it can be challenging to measure.
Nonetheless, you can use various networks to your advantage.
For instance, LinkedIn is ideal if you would like to cultivate a B2B relationship. This can also be a great platform to look for skilled talents who can work for you.
Meanwhile, Facebook is great to showcase your cause. Are you able to acquire your first round of funding? What are your plans for that fund? Please share it with your Facebook audience.
According to Michelle Dipp, the co-founder and managing partner of Biospring Partners, having a memorable brand allows you to attract the right kind of people. After all, the life science industry can be competitive.
Having a strong brand will set you apart from your competitors. It also attracts and engages more customers, providing a high value to investors.
Branding also provides you with a solid foundation that lets you launch and license brand new products and software. Apart from that, it allows you to reach broader markets as you grow your business to create better brand awareness.
Attend pitch events
Attending biotech events like BioEquity, allows you to be on stage, as you get to share your story to the attendees, both online and offline.
Profit from it, take opportunities anywhere you can, and don’t forget to rock the stage.
Network online and offline
Finally, it would be best to build your online and offline networks. Having connections with the right people can be valuable because almost everyone knows each other.
So, take the time to build your connections. Give and offer your experience and knowledge to anyone who needs it. Doing so will make you a top-of-mind choice when the need arises.
Your life science startup should be robust in all your media and messages in today’s highly digital world. Look for the perfect balance of creating traction so that you can start getting things done!