Biotech Best Practices

Sales Friction - Are You Making It Too Hard for Customers to Buy?

This week, we discuss "Sales Friction - Are You Making It Too Hard for Customers to Buy?" Many biotech companies unwittingly through up obstacles that make it harder f

Sales Pipeline Velocity

Sales Pipeline Velocity is probably the most important business metric you're not using! Sales Velocity tracks the overall effectiveness of your entire sales and marketin

How to do Price Discounting

Price discounting tends to be an overly used tactic with both salespeople and in marketing campaigns. In general, discounting doesn't draw in more regular customers and a

How NOT to do Trade Shows - Part II

Conferences and trade shows are among the most expensive sales and marketing activities a company can engage in, with many companies seeing a poor return on their efforts

How do Successful Biotechs Grow Revenue

What separates successful biotech companies from those struggling to achieve predictable revenue traction? The key is shifting from a product-focused approach to a custom

How NOT to do Trade Shows – Part I

Conferences and trade shows are among the most expensive sales and marketing activities a company can engage in, with many companies seeing a poor return on their efforts

Predicting Customer Orders

This week, we discuss "Predicting Customer Orders" Last week, we talked about customer churn; this week's topic is closely related. Can you predict when a given customer

Customer Churn, How It Works and What to do About It

Customer churn is an issue for all companies in the biotech space, especially if you sell a product that is re-purchased at a high frequency. Customers always have other

How to Set Sales Targets and a Bonus Plan

A crucial part of financial planning is establishing revenue targets and a sales bonus plan for the coming year. To attract good salespeople, you need a clear and underst

How a Biotech can Setup and Run a Customer Panel

A significant failure point for early-stage biotechs is not fully understanding their market and what motivates their customers to buy. A "Customer Panel" is a selected g

How to Run a Product Launch

Much of the success or failure of a new product is determined by what happens in the six months BEFORE the launch through the six months after launch. Far too often, we s

Working with an Independent Sales Representative

Having an outside Sales Rep represent your products offers many advantages. An independent rep will already have established relationships with labs and can rapidly intro

Your #1 Problem is No One Knows You Exist!

Most biotechs, especially earlier-stage startups, worry obsessively about how good their product is or what the competition is doing. But seldom are those the things hold