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.
Life Sciences: Battle for Market Share – Research FindingsAlexander Group conducted interviews with marketing, sales and service leaders. Here is what we found on the latest Life Sciences industry trends and benchmarks.
Participate in Our ResearchOpen Opportunities
- 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.
- 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?
- 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.
- 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.
Upcoming Life Sciences & Analytical Instruments Events
EMEA Sales Comp Community: First Sales Comp Design Question Everyone Asks: “What Are My Measures?”Virtual Roundtable
Sales compensation weights and measures communicate both the sales strategy and the definition of success to individual sellers. In this way, selecting the appropriate measures can be the difference between a general plan that fails due to lack of specificity and a tailored plan that creates the role-specific outcomes required. In this virtual session for the EMEA Sales Compensation Community, we will share best practices on how to choose between the myriad of measure options available as well data on the best weight and measures used in the marketplace.
2:00 p.m. – 3:00 p.m. BST
Sales Compensation Symposium
Get the latest metrics, sales compensation and quotas insights/practices leading companies are using to drive revenue growth, manage costs and attract/retain talent. Registration is complimentary.
12:00 p.m. – 6:00 p.m. ET
Join hundreds of senior sales, marketing, commercial and operations leaders to share stories of transformation, connect 1:1 virtually, and take away actionable ideas for how to win in an ever-changing 24×7 customer environment.
Friday, October 27, 2023
Life Sciences Research and Benchmarks
Get access to the latest go-to-market research and benchmarks to help shape your commercial strategy.
Meet the team
Alexander Group Can Help
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