We’re not going to trade shows anymore. In fact, I don’t see us (meaning all businesses globally) going to trade shows for the remainder of this year – and possibly into 2021. This means a couple of things:
- We’re not going to have customers or prospects walking up to our booths.
- We (sales and marketing) still need to produce leads.
Well, you might say, “But what about virtual trade shows?” It’s a valid point. Many shows did pivot to an online format. Some have worked (sort-of), while others have been significantly less successful at producing leads.
As you move forward with virtual trade events, you should be very careful and do your homework. Ask how the show organizers will provide your company with contact information for attendees. After all, you can’t scan a booth visitor’s card, get their business card, or talk to them at a virtual event.
So, where else are you going to go? Where are you going to get leads from?
You need to find a way to get those leads and be smart with your dollars.
It’s a Digital World After All
We’re living in a very different world. Some people are no longer at their office desks and perhaps they’re not getting their print publications at home. So, now what’s happening? Print publications are stacking up at the office and visibility is limited. Right now, it’s all about making sure potential customers can see you in multiple ways and you can generate leads in multiple ways.
That’s why digital marketing and advertising are important.
Produce Solid Leads from Advertising
Smart advertising is one way to create leads. It starts with smart spending and ends with creating specific types of digital and print ads.
What I often hear is, “I don’t have a big ad budget.” My answer to that: You aren’t going to all of the trade shows you had scheduled this year, are you? This gives you dollars you can reallocate. Now, I know the trade show companies want you to shift that budget to next year – but perhaps it’s possible to just move the deposit. But you and I both know, if you don’t spend it now, you’ll lose it. So, let’s use those dollars wisely.
Look at it this way: because you’re not going to shows where you would have spent $50,000 to $80,000, you have an opportunity to increase your budgets in other digital marketing areas that are working right now. Let’s use some of those dollars to increase your ad budget, your content development budget, and your social media budget so that you can deliver more leads.
But, all the ad budget in the world isn’t going to produce leads unless you create the right type of advertising. Brand awareness ads aren’t going to cut it. You’ve got to develop ads that speak to the value your company offers. You’ve got to deliver assets that help your prospect (remember, you need to deliver content addressing your customer’s journey). And then you’ve got to collect their contact information.
The World of Life Science Advertising Has Changed
It used to be that life science software, contract pharma services, and lab equipment advertisers had a choice of search engine ads (like Google Ads) or print ads in trade publications. But, the world of life sciences advertising is very different now. There are many more ad opportunities available.
This shift had already started prior to COVID-19. Now, it’s a whole new ball game.
Yes, we have search engine marketing (SEM) with Google Ads and display ads. We have paid social media. We still have print ads.
However, we also have newer products, like webinar sponsorships and podcast sponsorships. Trade publications and association publications have all introduced more lead generation advertising products. In addition to advertising on their websites and in print, we’re now able to sponsor targeted newsletters to specific audiences. In some cases, it may be a vendor ad, but in other cases it’s possible to sponsor an entire newsletter.
Publications also offer promotions of thought leadership interview videos and podcasts. In addition, there are promotions of gated white papers that produce spreadsheets of leads, text ads which drive traffic to your landing pages, and digital ad retargeting.
Choices, Choices and More Choices
Before you can develop an ad plan that delivers the leads your team needs, you’ll have to do some research and make some choices. You’ll need to think through where and how you’ll get the most leads for your budget. You’ll also need to identify all the assets you have on hand – or need to create – to give your prospects a reason to engage. Most importantly, you need to think about your customer’s journey from awareness to consideration to buying.
Or, you can call us.
Brandwidth Solutions serves the healthcare, life sciences, energy, and contract pharma industries. We work with companies that want to make the most of their marketing – who want their marketing empowered to help drive leads – and ultimately sales. If you want to move your product or service forward in a smart way, we want to work with you. Call us at 215.997.8575.