Here’s What You Need to Know.
What’s one of the world’s most innovative and yet heavily-regulated industries? Biotech.
See how Showpad empowers your biotech sales teams with expert training and coaching, compliant and searchable content, and engaging and interactive buyer experiences to drive better sales outcomes.
Read on to learn more about the challenges facing biotech sales teams. We’ll also reveal how Showpad’s sales enablement solution lets biotech reps simplify selling highly-regulated, complex and constantly changing products in an increasingly digital world.
Challenges for Biotech Sales
Selling in today’s biotech market is hard, and getting harder. There are many unique challenges biotech sellers face when it comes to engaging buyers and closing deals. How many of these challenges impact your biotech sales team?
Biotechnology products and services are high-risk in nature. They’re used in all facets of healthcare and sometimes in life-or-death situations. It comes as no surprise that the products—and all representations of them—are highly-regulated. This means all marketing and sales materials must be 100% compliant at all times, or your company risks hefty fines.
Biotechnology is one of the most innovative fields, with new technological advances for improved patient outcomes always in demand. The constant change in a highly-regulated field makes it even more challenging to keep all content accurate, up-to-date and fully compliant.
Biotech products are designed for precise healthcare purposes and need to meet precise specifications. That means biotech products, while very sophisticated, might also be very similar across biotech companies. This creates a challenge for biotech sellers who need to differentiate their products from their competitors’ products.
A biotech company’s bottom line can be greatly impacted by increasing costs of materials, price competition and ongoing market consolidation. This makes maintaining profitability a big challenge for biotech companies.
High HCP buyer expectations, compliance requirements, competitive pressures and pandemic business practices have digitized the playing field for biotech sales. Today’s biotech sellers have to find a way to deliver a digital-first experience that keeps buyers engaged every step of the way.
Sales Enablement for Biotechnology
Sales enablement can help biotech sales teams drive:
- Effective sales onboarding
- Regular sales training and coaching
- Content compliance
- A consultative sales approach
- Strong buyer engagement
The result of good sales enablement? Close more deals faster.
Showpad’s Sales Enablement for Biotech Sales
Showpad is a comprehensive sales enablement technology, providing every biotech sales team with the required skills, knowledge, content and tools to drive engaging conversations with their healthcare buyers. Showpad sales enablement can make a big impact on your biotech business through your most valuable asset—your sellers. So, what does the Showpad sales enablement solution provide for biotech sales teams?
Sales Content Management
Showpad makes it easy to keep your content current and compliant by helping your biotech sales reps find content when they need it. Your sellers can also use Showpad to create high-impact HCP buyer experiences, like 3D models and mappers that bring your products to life.
Sales Training and Coaching
With extensive product lines and an always evolving competitive landscape, biotech sales teams need regular training. With Showpad, marketing can continually share compliant, and up-to-date information on new or updated products to ensure that sales is always informed and ready to sell. Ongoing learning and training opportunities on complex products encourage the kind of confidence new sellers need to become your next generation of sales pros.
Showpad enables your sales reps to present 3D models, mappers, product specs, videos and other meaningful content with buyers over email and in digital deal rooms. Showpad also gives sales teams the tools they need to tailor each pitch to their buyers at each stage of the complex buying journey.
Analytics and Insights
With an industry average close rate of just 15%, the biotech industry can use Showpad’s sales analytics to make insight-led decisions that improve training, sales content, sales execution, buyer engagement and business results.
See How 3 Biotech Companies Benefit from Showpad Sales Enablement
Showpad is a comprehensive sales enablement technology, providing every medical device sales team with the required skills, knowledge, content and tools to drive engaging conversations with their healthcare buyers. Showpad sales enablement can make a big impact on your medical device business through your most valuable asset—your sellers.
Biocartis is an innovative commercial-stage molecular diagnostics company that develops molecular diagnostic solutions to provide direct access to personalized medicine for patients worldwide.
While implementing a new platform to enable sales can seem like a big undertaking, Biocartis found that Showpad was easy to use and helps them produce better content for their buyers.
“Showpad offers so many advantages that it’s quite easy to get everyone on board in the implementation of using this tool.”
Caroline Collard, Marketing Director, Biocartus
Cerus Corporation produces biomedical products that make blood transfusions safer.
Cerus entered the spotlight when Zika—a mosquito-spread virus related to yellow fever—turned into an international threat to pregnant mothers after an initial outbreak in Brazil in 2015. As the virus began to spread across the Western Hemisphere, Cerus’ customers had questions and needed answers ASAP. Showpad helped Cerus react quickly by enabling them to share critical information with its global customer base when they needed it most.
“Before Showpad, keeping our frontline resources armed with current assets was a manual and time-consuming process.”
Alian Segers, Senior Director Marketing & Deployment, Cerus
A leader in the field of in-vitro diagnostics for 50 years, bioMérieux provides diagnostic solutions that determine the source of disease and contamination to improve patient health and ensure consumer safety.
bioMérieux offers a wide range of highly technical products to its customers. This means their sellers need to be equipped with engaging and easily accessible content. To make this happen, bioMérieux knew they needed to implement an intuitive and scalable sales enablement tool. After evaluating several solutions, the company selected Showpad as their sales enablement platform and saw results quickly.
“The project roll-out, which includes a parallel initiative to equip the commercial teams with tablets, is moving ahead at record speed.”
Garrett Dalton, Co-Director of Multi-channel Marketing Communications, bioMérieux
Take the Next Step with Showpad
For biomedical companies, sales enablement is important for creating an effective sales process and promoting profitable sales growth. Arming your sales reps with the content, training and coaching they need will help them communicate a clear and effective message that will have the strongest impact on the buyer. Showpad Sales Enablement can be the solution.