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Succession Bio works with life science/biotech companies to help drive sales, licensing, and partnership opportunities.

We do this through market research to identify the right companies and people, craft scientifically credible messages, and then perform the outbound sales and marketing tactics on your behalf to facilitate meetings with the right people at the right companies.

Succession

• Specializes in life sciences/biotech (it's all we do!)

• Provides market research, messaging, and outbound sales/marketing services

• Facilitates meetings and opportunities with the right people at the right companies for our clients

• Sales training for teams of 10+ who want to find and close more deals with biotech and pharma

In last week's edition, Nick spoke about the age old sales adage that only 5% of your market is ready to buy at any given time.

As for the other 95%, is the best option to blast them with the same old outreach until they're ready to buy? Or do we just forget about them entirely?

There's an in between option that can allow you to stay in touch, add value and build strong relationships all while providing valuable insights to your potential customers.

That option is keeping the leads warm with lead magnets.

What is a lead magnet? A lead magnet is a marketing tool that offers a free, high-value asset or perk to potential customers.

Sales and marketing teams can use these to follow up and stay in touch with people who are in theory a great fit for your ICP but they might be currently locked in a contract or their pre-clinical study mightn't be quite as far along as they want it to be to bring in a new partner.

Below I will outline 3 useful lead magnets you can use to connect with customers and build rapport even when they aren't in the market right now.

Webinars: The Demo That Sells Without Selling

Webinars work because they let scientists see your product in action without the pressure of a sales call. 

The best webinars are at their centre a genuinely educational, insightful session and should definitely not be a run through of your sales deck.

A good webinar should have an engaging title and point towards helping solve a problem that you have seen with your customers in the past.

Definitely leave time for a Q&A session at the end and try to open up the floor and provide a platform for helpful peer to peer discussion.

Remember that the scientists attending are passionate enough about the topic to take time out of the day to attend the session so try to present something memorable to them so when the time comes to look at new vendors your name stands out.

And in the name of God leave out the 5 minute About Us slide that introduces the history of your business as unfortunately most people simply don't care. Use these extra minutes to talk actual science.

The beauty of webinars is that they can be repurposed as video content after the event has taken place.

Webinars can also be extra useful for complex instruments, software platforms, or anything with a bit of a learning curve. If your product needs a longer explanation, the webinar is your friend.

Content Pieces: The Documents That Get a Foot in the Door

Good content keeps doing its job long after you've sent it or shared it over LinkedIn. A researcher downloads your "Guide to qPCR Optimisation" and if the content is useful enough, it becomes something they come back to time and time again.

The document gets shared amongst team members and maybe even discussed in the weekly lab meeting. 

This is a win win, as you end up helping scientists in their day to day work while subtly putting your brand in front of people who might one day turn into customers.

A good tip is to be specific. A generic, high level report lacking real substance might get bookmarked, but it most likely won't be something people return to. Compare that to something like "Five Pipetting Habits Quietly Ruining Your Standard Curve," which gets forwarded around the lab because it’s curing a headache someone has that very afternoon.

Notice that I anchored that title around a specific number too. That's another little trick that tends to make a content piece more effective, the use of a concrete detail rather than something vague.

Final tip is to keep it concise. Let's leave the lengthy page counts to the epic Russian literature of Leo Tolstoy and Fyodor Dostoevsky. I'd aim for something around 2 to 3 pages, 5 at the very most. Scientists are busy people and they don't have time to wade through your 40 page ramblings.

Content works for almost any type of product and it's something every team should try to build into their GTM workflow.

3. Outside the Box: Quizzes, Tools, and Interactive Material Scientists Want to Play With

This is the one most teams never bother with, and that's exactly why it's worth doing.

Scientists are curious by nature, so give them something genuinely useful to play with and they'll keep coming back to it. 

A primer design quiz. A buffer calculator. A protocol optimiser. Something that takes their current workflow and shows them where it's quietly costing them time.

You can even build a product fit assessment. A short quiz that asks a few questions about what they're working on and points them towards the products in your range that would actually help. Done well, this should NOT feel like a sales pitch.

Similar to content, if you can build something that is genuinely solving a problem and making someone's day easier you won't even have to ask people to share it, they will do it for you.

All the while sharing your brand and helping people think of you when they are ready to buy.

Play the Long Game

Here's the thing about the 95%: they're not ignoring you. They're just busy. Well, maybe they are ignoring you a little. But give them a reason not to!

These people are genuinely busy with grant writing, experiments and data analysis.

But by utilising lead magnets you can win back their attention by coming and providing value straight off the bat, for free and not just asking for a 30 minute demo from the get go.

When they're finally ready to buy, and they will be, you've already earned the relationship and can reap the fruits of putting in the work when they weren't in the market for a new solution.

That's the difference between chasing the 5% and building a pipeline that feeds itself.

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1. Lead Generation: We’ll build target lists, write scientifically relevant messaging, and send messages on your behalf to book qualified sales meetings with biotech and pharma companies.

2. Training for Teams: If you want to upskill your team around prospecting, driving to close, key account management, AI, or any other topic, we can put together a training plan specific to your organization’s needs.

3. Strategy Call: Need more than training? Want help implementing and executing your sales strategy? In a 30-minute call, we will assess your company’s current situation and identify growth opportunities.