Posted on January 7, 2019
The future of B2B pharma
Millennials are taking over- for some it might be frightening, for others cool- it doesn’t matter. The generational gap has never been so big as between the Millennials (born between 1977-1994) and Generation X (born before 1977), not to mention Baby boomers (born before 1954). The world changes at a pace like never before in history and technological advancements brought a new business culture as well.
In the coming year, those determined to survive on a harsh market like pharma will have to readjust their sales to catch the winds of Millennials enthusiasm. Those who think it’s too early to care about increasingly loud roars of the generation could easily float into the oblivion in the coming years.
The close of a deal is just a click away now
Although a good relationship will always be key for happy partners, handshakes are not as important anymore as they used to be for finding new customers. Especially when you close a deal with a person on the other side of the world.
That’s what digital marketing is all about- it helps people do business faster and cheaper. Old school selling techniques require a realignment with the tendencies of a new age we live in. Making a good first impression today means getting on the first page of Google. This is where Millennials jump in- it’s the generation that perfectly understands how the realm of the internet works. Millennials were born in it and molded by it.
Millennials are not crazy about nine to five jobs. The generation unwillingly trades their time for money. Instead, they are much more into trading their skills for cash. The reasoning is simple- the quicker I can do this right, the more time I’ll spend with my friends and family.
Although their approach might sound like the reasoning of lazy people, actually, millennials are quite productive. They don’t waste time. A quick deal is what they strive for if you can’t communicate your offer quickly, then it’s probably not that good.
Keep it simple, casual, and quick.
Do you know which keywords your potential customers are using while searching for your products on the internet? and do you know on which rank he will find your company?
These are the topics you should focus on this year. B2B buyers are getting younger. In the last two years alone the percentage of B2B Millennial buyers jumped from 12% to 46%. It’s a shift significant enough to change the rules of the purchasing game. Also, the statistic shows that more than 90% of B2B Millennial buyers extensively use the internet to find their business partners.
While the world is steadily improving through technological development, our industry isn’t taking benefit of it yet. As a consumer we have a strong need to compare different sellers when buying goods like a new washing machine, booking a hotel or ordering food. We like to compare products based on the delivery time, special features, price et cetera and all of this in the blink of an eye. Since a couple of years we have the ability to do so but our pharmaceutical industry still relies on their own networks. 2019 will be the year that traditional pharmaceutical companies start adapting online marketing. Companies should have at least an SEO proof, user-friendly website with only the most relevant information. Besides a website, pharma companies should be present on online marketplaces too, not only Pharmaoffer but also other platforms. Besides the benefit of getting new business from these platforms, you're letting also Google know that your website is relevant, which will give you a higher ranking.
According to Google’s research, the quality of a landing page, brand awareness and user experience are the three most important factors that determine how much will you sell.
The power of Social Media
At first, Social Media was just a way one can express him/herself online without putting too much effort into designing website, blog or vlog. In the meantime, Social Media grew into one of the most powerful selling tools out there. Bear in mind that the last presidential elections in the US were significantly impacted by Social Media.
Until a few years ago you could only find photos of friends having fun on Facebook, Twitter, and Instagram. Today, everybody advertises their business on Social Media- from small local shops to international pharma companies.
Those who know how, can use this incredibly powerful and incredibly cheap force, to make an impact and generate sales.
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