Without sufficient early funding, even the most promising biotechnology startups can falter. Experienced entrepreneurs in the biotech and life science industries understand that interest in their work is very niche, so networking in the right circles is key to raising adequate funding.
But there’s a difference between understanding that you need to make connections and knowing where and how to make them. Identifying the right circles and breaking into them isn’t a matter of luck, serendipity, or even charisma—it’s a function of audience targeting and branding.
In other words, it falls squarely in the realm of digital marketing. That’s good news for biotech and life science startups, because digital marketing can be strategized and planned for. Effective digital marketing in biotechnology is the ticket to reaching the right audience beyond your immediate connections.
If your biotech or life science startup is in the early funding or adoption phase, it might well be time to start searching for a biotech or life science startup social media agency and reevaluate your efforts in web design, SEO, and email marketing.
To get you started, here are four ways you can improve your chances of funding using the art of digital marketing.
1.) Stay Realistic About Social Media Marketing
Biotechnology startups are already stretching every dollar, so they typically look for the most cost-effective marketing channels.
Social media is a popular “low cost” method for marketing in biotechnology, but too often, we see these startups using social media without considering making an investment in other strategies. Or, worse, they think of social media marketing as the free DIY option, and not a legitimate marketing strategy that requires some investment in time and marketing dollars.
While social media can be a cost effective tool, it should be considered only one aspect of a comprehensive digital marketing strategy. The savviest biotech and life science startups use it as a social listening tool to identify funding opportunities, research significant investors and competitors, and generate interest in the field.
Case in point: When Facebook and all its family of platforms went dark for 5 hours, those who had invested all of their marketing and advertising space on Facebook lost out on their only channel of exposure.
It’s smart to ensure that your digital marketing dollars live in a space that you own, such as your website.
2.) Invest in Responsive Web Design
That being said, many biotech and life science startups would benefit from investing more time and money on building a presence across multiple channels.
As a biotech startup, your website acts as the face of your company for anyone searching on the Internet. Investors are looking for a promising startup that can both present themselves well and offer evidence that it’ll succeed.
Companies that are too reliant on social media often fall short of these expectations. The more aesthetically-pleasing, user-friendly, and compelling your website is, the more likely you are to secure serious investors. A professional digital footprint is everything to a new enterprise.
Investors are extremely busy people and their attention is spread thin, so many take their startup research on the road with them, using their mobile devices.
Responsive web design is one of the most important aspects of creating effective websites, and when more than half of all website traffic comes from mobile devices, it’s imperative for your website to adapt to any device.
3.) Utilize Search Engine Optimization
You should not invest time and money into building your website without seriously considering your search engine optimization strategy.
The point of having a website is to be searchable online, and SEO is an essential tool for ensuring your company is a top ranking result for your field. If an interested investor can’t find your business within the first page of Google results, you’re unlikely to make the connection.
At the same time, not all SEO tools are equally effective, and keeping up with updates and conversations about SEO is burdensome for a full time startup.
It’s not something that can be picked up and implemented effectively with a few hours of Googling—it’s a full time occupation for professionals and a field of expertise unto itself.
Hiring an SEO professional experienced in digital marketing services for biotechnology and life sciences is a major leg up when looking to secure funding.
It’s not enough to set up your website and forget about it—you need to update it with accurate information about your company, post about relevant news and events, and keep offering value to your visitors.
4.) Capitalize on Leads With Email Marketing
Finally, you need to be able to follow up on the interest you receive from your visitors with effective email marketing. Don’t rely solely on a contact form to get connected with interested parties—investors might not be ready to invest now, but if they see potential in your company they’ll want to stay updated on your progress. Make sure that it’s easy for them to do.
Setting up an email marketing funnel anchored in your website is key to building this relationship and increasing your chances of securing funding.
Digital Marketing Can Help Secure Biotechnology and Life Sciences Startup Funding
If you take anything away, know that digital marketing is crucial to building early exposure and establishing a brand presence for biotechnology and life science startups. It should not be treated as an afterthought, nor a to-do list item to be handled after funding is secured and development is finished. A seasoned digital marketing professional experienced in serving the biotechnology and life sciences industries can help startups establish an early online presence and help secure funding during the crucial early stages.
Reach out today to get help with your Biotechnology startups’ digital marketing. Contact us for a 30 minute free consultation to see if we’re the right fit for you.
About Nicole Hallberg
Nicole is the Content Marketing Director for Goldstein Media, specializing in providing consulting, writing and marketing support to startups and entrepreneurs. You can read more of her articles on SEO and content marketing on the Goldstein Media blog and the Moz blog.
Photo by Andrew Neel on Unsplash
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