Top Revenue Growth Imperatives for Life Sciences CompaniesBy: Arshad Carim Life Sciences, Revenue Growth Strategy
The game has changed. Today’s life sciences and analytical instruments companies find themselves in a “seller-beware” world of super-informed, highly connected and data-driven buyers. As the industry changes, commercial leaders wonder if their go-to-customer strategies are evolving fast enough to keep up.
Alexander Group’s (AGI) ongoing research looks at trends and key commercial strategies for managing these new types of buyers. Recently, AGI concluded its 2019 Life Sciences & Analytical Instruments Sales Pulse Survey. Twenty+ commercial leaders offered their perspectives on the latest trends and top growth imperatives. Based on the findings from these executive interviews, AGI prioritized the top revenue growth imperatives for 2019: sales productivity, penetrating high-growth markets, digital strategy and workflow/solution selling.
- Emphasize Sales Productivity: Established products and low-value customers will be migrated to efficient, scalable low-cost routes to market to enable investment in growth markets
- Penetrate High-Growth Markets: Differentiated growth will be delivered by targeting emerging sub-segments (e.g., cell therapy, genetic testing, food and beverage, high-growth biomarkers, oncology and others)
- Go Digital: Transformation efforts will continue to ramp with investments in contemporary customer engagement models and next generation sales enablement
- Shift To Workflow (Solution) Selling: Marketing and Sales teams will emphasize solutions and target workflows that align with product portfolios and company value propositions
To learn more about the prioritized revenue growth imperatives uncovered in our research and hear the Alexander Group’s insights and recommendations, schedule a briefing today.
1. Life Sciences Sales Trends
8 Life Sciences Sales Trends impacting the industry – video series