Market Focus: Bioscientists
Narrow the Field
This market is small but diverse. There are well-defined differences between numerous fields of life science, says Mulligan. Pharmacology and drug discovery, for example, are not the same and should be treated as distinct segments. Scientists studying different organisms require information, products and technologies specifically created for their area of research.
This makes it important for list sources to be selectable by area of study. In addition, job title also is a strong variable to use to refine a bioscience list. Since job function can greatly affect the prospect’s purchasing authority and needs, you want to pull the exact titles that fit your products.
Steve Ernst, editor of BioScience Technology, a magazine that details new products, tools and techniques in the field of life science, explains that scientists who work on grant-funded projects have very specific product needs on a specific timeline; this makes it hard to predict the buying patterns of these prospects. Plus, grant-funded scientists are very price sensitive, given that their grant money is a set amount and that they might not be able to secure additional funding.
Scientists at large biotech firms and pharmaceutical companies, on the other hand, can be treated more like regular B-to-B prospects, where drip marketing and a communication stream keeps marketers current on their audience’s research activities and priorities.
A continuing trend reported by the U.S. Department of Labor indicates that bioscientists increasingly are working in team environments, which means more group decisions on purchasing; this trend suggests that marketers might do well with promotions that allow recipients to share comprehensive information with team members.
Primary and Secondary Offers
Bioscientists’ spending, says Grimwade, follows three paths:
1. Supporting their own research, which includes lab equipment and services, books and publications, and travel.
2. Administrative and business interests, which involves all typical business expenses, even for scientists who work at universities.