The Battle for Market Share
Generate Differentiated, Above Market Growth
The life sciences and analytical instruments industry is in a state of volatility with an uncertain economic outlook. Commercial leaders are evaluating market trends impacting progress as they plan for the next three to five years.
However, as commercial leaders capitalize on near-term growth, they must also evaluate market trends impacting progress as they plan for the uncertain economic outlook and into the next three to five years.
- Nurture a customer-centric culture: Buyers want vendors and partners that understand the real challenges and offer solutions. Scientists’ lab time is at a premium. Commercial teams must actively demonstrate how they help solve scientific problems to advance project objectives.
- Invest in commercial operations: Leaders prioritize improving quote turnaround times, emphasizing seamless account set-up and transaction experiences, and focusing on initiatives that drive insights and propel proactive customer engagement.
- Establish direct engagement with customers: While distributors and agents have an essential role to play, leaders are establishing direct relationships with customers through inbound efforts, demand stimulation and post-sales experiences.
- Lead with science: Leaders are highlighting use cases and the impact their offering will have on the desired scientific results. Investments in specialist roles, including segment, workflow or product-oriented, aim to differentiate based on quality and depth of coverage.
- Prioritize marketing initiatives: Leaders are increasing marketing investments to improve central and BU collaboration, build new channels to drive awareness and demand and provide research, data, tools and processes to enable active monitoring of customer journeys.
- Focus on talent: Commercial turnover is high as talent moves to start-ups, instrument manufacturers, pharma and biopharma companies. To compete, leaders invest in their people through various methods beyond just compensation, such as flexible work options, training programs and wellness benefits.
As the industry changes, commercial leaders must evolve their go-to-market strategies to keep up. Alexander Group transforms commercial organizations by aligning Product, Marketing, Sales, Operations and Finance efforts to deliver results.
How We Help
- Revenue growth strategy: Target the right opportunities with the right value by determining your market opportunity and phase of growth.
- Revenue motions: Define optimal value messaging and organize sales strategy around use cases.
- Modern marketing blueprint: Evaluate current and new markets, areas of opportunity and optimize marketing channels, mix and return.
- Talent: Ensure the organization has the right skills and capabilities for more complex offerings and portfolios.
- Sales compensation: Align sales compensation and quota programs to motivate and achieve more aggressive business goals.
- Actionable research & benchmarks: Provide current and relevant data, trends and benchmarks to help guide sales, marketing and operational decisions.
- Commercial Operations: Develop function to take on broader responsibilities to impact business growth and scalability by aligning Marketing, Sales and Service while providing strategic, customer-focused insights.
Related Insights
Participate in Our Research
Open Opportunities- Customer Experience Survey Customer Experience (CX) is the overall impression and perception that customers have based on their interactions with your brand, products and services. Are you delivering best-in-class customer experience throughout all touchpoints of the customer journey, including pre-purchase, purchase and post-purchase interactions?
- Life Sciences Go-to-Market Coverage Study With the impact of generative AI, changes in customer expectations and a growing need for scientific talent, life sciences and analytical instrument organizations are shifting their go-to-market coverage models. But to what extent?
- Life Sciences Industry Trends Study As Life Sciences and Analytical Instruments commercial leaders capitalize on near-term growth, they must also evaluate the market trends that will impact progress as they plan for the next three to five years. Join the study to weigh in on industry strategies, insights and metrics and receive a full report of the findings, including custom benchmark comparisons.
- Artificial Intelligence in the Commercial Organization How are commercial leaders aligning AI investments and use cases to growth plays? Learn the best practices and use case guides for AI-enabled commercial growth plays and the most effective AI implementation tactics.
- Commercial Practices to Drive Profitable Growth & Valuation Economic downturn. Unpredictable markets. These are just a few factors that are preventing commercial leaders from determining and realizing revenue goals. How can organizations achieve differentiated growth, productivity and efficiency for profitable growth?
- Commercial Talent Management Strategies for a Competitive Edge Life sciences and analytical instruments firms that realize consistent profitable growth spend nearly 50% less on sales turnover. By establishing effective commercial talent management strategies, employees are better engaged, leading to higher customer experience ratings. Discover the five principles to implement an effective and competitive talent program.
- Demand Generation & Performance Insights In life sciences and analytical instruments, marketing accounts for 33% of functional pipeline development, with the top three channels being SEM/SEO, distributors and dealers, and paid social media. Success in demand generation depends on how well an organization navigates the complexity and costs related to customer acquisition and ROI. Discover how to allocate resources to increase conversion rates.
- Digital Go-to-Customer Study Discover the industry trends, insights and frameworks on the digital impact on revenue growth, as well as recommendations for increased sales performance and growth in a digital environment.
- Digital Insights Study Digital means changing how companies engage with customers and enable their commercial teams. Determining where and when your customers interact with your products and solutions can impact your organization’s digital maturity and where to guide your investments.
- Increase Demand by Cultivating a Customer Experience Strategy Life sciences and analytical instruments organizations that have developed a compelling customer experience (CX) strategy are 10% more effective at account penetration and new customer acquisition. This study explores how a CX strategy can breed a reputation of delivering a positive experience across every customer touchpoint to generate higher EBITDA margins and a substantial competitive advantage.
- Life Sciences: The Modern Marketing Organization Alexander Group’s latest marketing research effort explores how life sciences and analytical instruments marketing organizations strive to apply innovative B2C marketing best practices in a B2B world. Alexander Group conducted a survey of 100+ life sciences marketing leaders to better understand what marketing priorities and investments they are implementing to take their organizations into the modern era.
- Revenue Operations Survey Over 200 executives in sales and revenue operations were surveyed across Business Services, Financial Services, Manufacturing and Distribution, MedTech, Health and Wellness, Media and Technology to determine the leading practices of world-class revenue operations organizations.
- Sales Compensation Trends Survey Sales compensation leaders from 300+ companies across industries participated to provide data and insights on the latest metrics and trends impacting sales compensation programs. From sales comp investments, costs, plan goals and program changes, discover the best practices sales comp leaders are initiating for 2024.
Upcoming Life Sciences & Analytical Instruments Events
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Spring B2B Marketing Summit
Chicago, IL -
Revenue Symposium
Virtual -
Summer B2B Marketing Summit
Virtual -
EMEA Sales Compensation: Trends, Roles, Metrics and More
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Sales Compensation Symposium
Virtual -
Sales Compensation Symposium: Boston
Business Services, Financial Services, Healthcare, Life Sciences, Manufacturing & Distribution Focus -
Fall B2B Marketing Summit
New York, NY -
Winter B2B Marketing Summit
DATE TBD -
Executive Forum
The Breakers | Palm Beach, Florida
Life Sciences Research and Benchmarks
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Alexander Group Can Help
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