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.