Building Sales Through Social Media Part III – LinkedIn Power

Generating Leads and Networking via LinkedIn

Welcome back to our ongoing series with Ken Schmitt, LinkedIn Coach.

In Part 1, we discussed why social media space for your brand is important. So very important.  From reaching customers, to building reputation don’t miss out on this chance to increase the “shelf space” of your brand.  And in Part 2 we identified the value of LinkedIn for sales reps and marketers and then found some quick ways to find your audience and generate leads using LinkedIn.

Great you found them! Now what?

The key to all of this, of course, is building your personal network in LinkedIn to allow for more connections and “links.”

Building Sales through Social Media Part II – Why LinkedIn

Generating Leads via LinkedIn

Part 2 of our sessions with Ken Schmitt, LinkedIn Coach. If you missed part 1, start there.

As a small business or individual sales rep, how much value do you place on customer loyalty?
If you could engage your customers (scientists) by providing true value, offering real-time data and introducing them to your connections, do you think they’ll buy from you when the time is right? You’d better believe it.

In Part I of this series, we talked about the importance of securing “social media shelf space” – leveraging multiple social media tools – Facebook, Twitter, corporate websites, blogs and LinkedIn – to build a broad-based web presence that speaks to multiple audiences across a variety of demographics. Failing to incorporate these channels into your sales & marketing campaign will allow your competition to connect with your customers. A recent study of 2,100 businesses by the Harvard Business Review revealed that 79% are using social media.

Which social media channel is right for sales reps and marketers?

While there are a number of reasons to consider Facebook with 500m users, a $50b valuation and one of the most recognized brands in the world, it is not necessarily the best platform for your business. Likewise, while Twitter now boasts 110m tweets per day, star power including everyone from Anderson Cooper to Ashton Kutcher and a $10b valuation, there is a great deal of noise in this particular channel – Sysomos claims that 71% of tweets are ignored, 23% garner a reply and only 6% secure a retweet.

The key to this question – “which channel is right for me” – is determining where your customers and prospects hang out online!

My guess is that a quick analysis of your top 20 prospects will reveal that the greatest presence, and easiest access, is on LinkedIn. After launching in 2002, LinkedIn now boasts over 90m worldwide users, representation from every Fortune 500 Company, a total of 1,000,000 company profiles and over 600,000 specialized groups – oh yeah, and a valuation of $2b with only $100m in revenues! LinkedIn has become so prominent, that a new user joins every second…. That means approximately 8 users joined while you were reading the last sentence!

So how do you know if your customers have a presence on LinkedIn? And more importantly, how can you determine whether or not the specific person who will buy your services has a presence on LinkedIn?

Luckily, LinkedIn makes it very easy to find companies, people, titles, events, jobs , and of course, connections. That sound like good old fashioned lead prospecting?

LinkedIn Magic

LinkedIn has done an amazing job of integrating an easy-to-use interface with in-depth and relevant content. Are you interested in building a list of prospects in the pharmaceutical industry? Click on the “companies” tab at the top of the page, go to “browse industries”, click on the “Pharmaceuticals” link, and peruse the 9,586 different businesses in this category.

Here’s an example of how you might find a scientist on LinkedIn who currently works at Novartis, doing immunology research:

1. Set the search at the top of the page to “People” then click on the Advanced link
2. Enter “immunology” in the Title field, and “Novartis” in the company field, and select “Current” in the dropdown box
3. Get leads

Give it a try! We bet you find all kinds of new leads.

More great LinkedIn tips will be in Part 3 of this series coming soon!

About Ken Schmitt:

Ken C. Schmitt is an Executive Recruiter, Career Coach, Expert Resume-Writer, Master networker and LinkedIn trainer. He has been training, coaching and placing mid-senior level professionals for 13 years with a particular focus on leveraging social media for career management. Having presented to nearly 1000 professionals and written more than 50 career-related articles, Ken is well positioned to provide valuable information about social media, recruiting and career management. For more career management advice visit- Turning Point Search

Secret Scientist Meeting Found – Lead Generation Gold Mine for Reps

by Rusty Bishop

Dear Life Science Sales Reps and Managers Here’s a Secret

If I were to tell you about a place you could go once per week for 1 hr to generate new leads, meet PIs, meet post-docs, learn how scientists are using your products, and develop a better friend base at your accounts…

would you go, sales reps?

What if I told you this 1hr meeting is happening on every scientific campus in the world…

would you skip it for a coffee break?

Further, the person leading the 1 hr meeting is virtually guaranteed to be working in Pharma or be an influencer at their next academic science post.

Would that help your sales?

Finally and most important, this meeting is 100% OPEN TO THE PUBLIC.

Yep, it’s called a thesis defense. They happen all the time at your accounts and they are open to the public.

Science Sales Gold Mine

On Monday I had the privilege of going to the thesis defense of an old friend. As I listened to Chris talk about his 6 years of academic torture, it dawned on me that thesis defenses are an absolute gold mine for a local life science rep.

Here are my actual notes from his defense

1. Support your best clients and meet new ones.
2. There are 7 PIs- one is a National Academy member another is world renowned for the discovery of the link between cholesterol and heart disease!
3. 62 Scientists in attendance (5 relatives)
4. Learn about what frustrates scientists and creates sales questions that lead to your products.
5. Social Media (Twitter, LinkedIn) potential contacts are everywhere.
6. Learn about how scientists are using your products.
7. He’s going to work at a huge Pharma company! Winner!

Here is a running list of scientific assays and reagents mentioned (bold added for multiple mentions)

Ifa, staining, microscopes, hplc, tissue staining,
Pngasef, antibodies, western blots, mice, histology, flow cytometry,
endothelial markers, cells, tumor models, knockout mice,
biotinylation, culture, seras human, elisas, recombinant proteins,
complement systems induction, immunizations, diets for mice, metabolic
cages, fplc

Sell any of those? I bet you do.

All that in a 1hr thesis defense. In my mind it’s a rep’s dream come true.

The Sales Rep Approach

1. I suggest attending a few of these and listening first. Take a lot of notes.

2. If you know the scientist who is defending their thesis, BRING A GIFT. Amazon gift cards are great (so is booze, but you gotta know the scientist.)

3. Attend the after party, but do not under any circumstances talk work or try to sell something. That comes later.

4. Bring business cards. Pass them out if asked only.

5. Make friends. The party will be stuffed with people that buy your products from PIs to purchasing to post-docs. Once again don’t try to sell them. Be interested in their research. Remember their names. Next time you walk through the lab things will go much smoother.

Next time you’re on campus

Keep your eye out for fliers that say “Thesis Defense.”  I bet there is at least one at the campus you visited today!

Good luck out there and as always leave us any comments or suggestions for new blogs.

How to engage and connect with scientists at trade shows

What Sales Reps Need to Know About Finding Customers with LinkedIn

LinkedIn for Sales Reps – An Interview and Interactive Session with Ken Schmitt by Rusty Bishop

Many of you have been asking me directly for information on how sales reps in our field can leverage social media, specifically LinkedIn to increase sales in their territories and beyond.

I recently got the chance to sit down with Ken Schmitt, President of Turning Point Executive Search who in my opinion is a true expert in building customers through LinkedIn and Twitter. Ken teaches one of the best classes on LinkedIn I have ever attended and carries the title “LinkedIn Trainer”.

Over the next few weeks, I will recount my interview with Ken and show you specifically how you might use his methods in our industry to gain more sales through social media.

Are you a turn-off? Fatal blunders killing your customer relationships

Please welcome Guest Blogger, Lara Marlin Hull. Lara spent many years in the lab at Amylin Pharmaceuticals as a “bench monkey” and brings a fresh scientific voice to improving sales to scientists. We love her take on scientist relationships. Feel free to ask her a few questions.
Enjoy! – Rusty and Mark

by Lara Marlin Hull

Your customer relationships are your goldmine.  Once you get to move your scientist from Lead to Prospect, you’ve gotten your foot officially in the door – not easy in the life sciences industry.

As a former bench monkey figuring out all the sales and marketing magic that happens on the other side of the lab door, I still marvel at the power behind the idea (bear with me) of each scientist /prospective customer also representing this lab, this building, this campus - for years – way more valuable than a mere sale!

All the more reason to keep the relationship alive.  I’ll share some examples of customer relationship flops I have either experienced or heard about around the centrifuge.  They definitely don’t represent the typical scenario – but they help to illustrate my point that these situations wouldn’t have to end in misery.

Guiding Question

From what I’ve seen, “Is this good for my customer relationship?” could be an easy way to decide if tactics are going to be effective.

In any case, some of these missteps would put anyone in the doghouse  so don’t let them happen to you.

1.  Unfulfilled Promises

If there is one lot you can be realistic with, its scientists.  It’s nice for us to talk about you getting us a lower price than the current vendor, but if you can’t make that happen (or even have an inkling that you can’t), don’t say it, and really don’t promise it!   Imagine running a painstakingly long series of assays to compare media because New Vendor promised cheaper prices than Old Vendor.  After months of work, you find that New Vendor’s quote is, in fact, more than Old Vendor – !

The Sales Question that Engages Scientists and Qualifies Leads in Less than a Minute

by Rusty Bishop

Those who read this blog regularly know I am student of sales and marketing with 17 years of experience in the lab.   I question, I observe, I test, and I report my findings to you to help you sell better, because I believe you have the products to make scientists’ lives easier and better.

Last week I spent 4 straight days in the Exhibit Hall of the Neuroscience 2010 Meeting here in San Diego.

It was and is a golden opportunity to crush your numbers and generate hot leads.  Where else in the world do you have the chance to meet 35,000 potential customers?

35,000 potential sales and repeat sales!                          

Case Study – Conversions increase 5X for Assay Depot

This article is short case study about our successful project with AssayDepot.com which engaged Red Funnel to help diagnose and improve their website last spring. Working with their team has been a extremely enjoyable experience for Mark and I, we wish them continued success.

Case Study

Service: Full website and Analytics analysis using Red Funnel’s science SEO service.

Results: 5-fold increase in quote and info requests for Assay Depot’s clients.

Background: Assay Depot.com provides direct access to expert advice about scientific assays and contract research services (CROs) via their open web marketplace to scientists in Big Pharma, Biotech, and Academic research. The site is focused on 5 target assay and service areas- Biology, Chemistry, DMPK, Toxicology, and Pharmacology with several thousand webpages covering individual services. The business depends on scientists requesting information and quotes for research services through Assay Depot’s referral engine and expert scientific staff.

Assay Depot engaged Red Funnel improve the conversion rate of the quote request process.

The Engagement: Red Funnel identified the key causes of page abandonment based on traffic movement to the most popular assays and services using Google Analytics, science-based SEO, and User Interface (UI) testing.

We worked with the team at Assay Depot to improve these areas by adding Scientist-targeted SEO content and improving the UI to lead visitors to the assays they were seeking. Over the course of the improvments, we saw:

• Decreased Bounce Rate (10%)
• Increased Time on site (> 1min)
• Increased traffic to relevant assay pages
• 5-fold increase in conversions

The bottom line: Assay Depot is now capturing more traffic and converting more visitors; resulting in more quotes for their customers in the CRO and Life Science Service business from scientists in Pharma and Academia.

Conversation with Pharma Purchasing Reveals the Power of Repeat Customers

Conversation with Pharma Purchasing Reveals the Power of Repeat Customers

by Rusty Bishop

Last week I had the opportunity to talk with head of purchasing at a major Pharmaceutical Company in San Francisco. What I learned is having a major impact on your long term success.

I asked her about her interactions with the scientists in her firm, and we discussed the inherit difficulties of her job. She talked passionately about her problems getting scientists to switch to the products she worked so hard to get discounted for her company.

She even gave an example of one group practically rebelling against company directives to keep a more expensive product in their division. For her, it’s was a major point of frustration and embarrassment with management, but one she accepted as part of scientists’ “idiosyncrasies”.

Based on my own 17 years in the lab, I can tell you that once you provide me with a product that works in my experiment I will rarely switch to competitive product. Protocols for these experiments are typed, printed, and passed down in labs for years. For example, my lab has used Qiagen Hot Start Taq Polymerase since 1998. I visited the lab a few weeks back and saw a post-doc still using it. That’s 13 years of loyally purchasing $1,000.00 worth of kits every other week.

Furthermore, scientists carry the protocols onto their next position in academia or Pharma/Biotech.

Thus, the power of one single sale to a scientist is worth thousands of dollars in repeat buys over the long haul if the experiment works. Scientists are immensely loyal to the products they know and will defend them despite all evidence to the contrary.

The question is what are you doing to get that sale?

Here are a few ideas that can help, picked up from talking to successful sales reps in the last month:

• Be proactive at upcoming Conferences and Tradeshows  - get those Pharma scientists talking.
• Know every product in your catalog – you never know what a scientist needs.
• Join professional scientists networks online and in your area.  Not one in your area?  Then start one!

How to Sell More Products and Services to Pharmaceutical Scientists – Assay Depot’s Marketplace.

How to Sell More Products and Services to Pharmaceutical Scientists – Assay Depot’s Marketplace

by Rusty Bishop, PhD

One question we consistently get here at Red Funnel is, “How do we reach more scientists in Pharma/Biotech?”

It seems every sales representative or marketer we meet wants to penetrate that marketplace. And for good reason, there’s a lot of money there.

Big obstacles for marketers and sales reps are that the doors to labs are most definitely locked, emails are filtered, information restricted, and when they do order products, its often through complicated systems with major gatekeepers. So what to do?

There are companies that provide channels into specific marketplaces that you can use to your advantage. Similar to deciding whether to use a distributor to sell your products or not, do you spend your time and effort to penetrate a market yourself or do you work with other companies that have had more success in that effort? Finding complementary businesses or non-competitors that already have that channel is a great way of jumpstarting your efforts.

For the pharma market, enter Assay Depot.com.

What is Assay Depot?

Assay Depot is a marketplace for research services (assaydepot.com) that uniquely enables you to communicate directly with thousands of global research vendors to ask technical questions, create custom services, get price quotes and place orders  through their public website. The site is broken down into 5 main stores:

I bet your products fit in one of these categories!

• Biology – from antibody conjugation to anti-microbial screening
• Chemistry – from compound libraries to API synthesis
• DMPK – from Caco 2 cells to rat PK/PD studies
• Pharmacology – pretty much any animal disease model you can think of
• Toxicology – from Comet Assays to In vivo Tox studies

Within each category are 1000′s of individual assays, services, and research materials for sale. Each one has its own description accompanied by a list of companies offering the product or service. The site also provides easy links in which to contact the company or request information from Assay Depot’s team of experts.

That’s right. I said easy links to companies. (Links equal good stuff for search engine optimization.)

The Ask an Expert feature on each page is one of my favorite parts of the site. All a scientist has to do is request information on a particular assay or service and the experts at Assay Depot will seek out companies to do the work for them. What I wouldn’t have given for that when I was in the lab.

According to Kevin Lustig, Founder and CEO, “Assay Depot gets hundreds of requests per month with most of them coming from pharmaceutical companies.” (emphasis is mine)

They pass along quotes and have contact information for these scientists to get their experiments done by companies just like yours. For example, you can read about the $80,000 antibody order from a mid-sized pharma.

Of course, you will never see this posted on the site because the Pharma scientists generally are restricted from posting research-related questions on the internet.

The Inside Scoop

Here’s an insider tip – Assay Depot has done a superb job of building SEO into their site to specifically target Pharma, Biotech, and CRO scientists. (Full disclosure, Assay Depot is a client – I admit that we helped them a little.)

Red Funnel spent the last 6 months buried deep inside the web analytics of Assay Depot. One of the things that jumped out to us was all the visits from domains like pfizer.com, gsk.com, and novartis.com. Yep, scientists at Pharma companies were discovering assays and services at Assay Depot.com. In fact, they were spending a lot of time on the site investigating the range of services.

Why? Because it saves them time and money. It’s much easier to search a single site then the entire web, the information about services is organized so you can scan and compare, and it’s simple to make a quote requests that are forwarded to multiple CROs.

For more information on how to get involved with Assay Depot, visit their BackOffice Website.

Red Funnel digs the Assay Depot and benefits from giving you the inside scoop.  It’s hard to find those pesky pharma scientists who buy online!

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