Contract Research Organizations (CROs) seeking to remain relevant and competitive within the medical field are adopting marketing strategies to position themselves, attract overseas audiences and distinguish from the competition.
The Contract Research Organizations’ (CRO) market had accelerated growth over the last decade due to the convergence of three factors: the rising costs of drug development, the increase of expired drug patents, and the rapid growth in the biomedical field. As a result, a rise in demand for clinical trials of medical devices and the necessity of outsourcing services in emerging countries to bring new drugs or devices to the market faster, more efficiently, and at a lower cost has occurred.
At present, those tendencies have deepened due to the pandemic, since pharmaceutical, biotechnology, and medical device industries have increased their investments on research, development, and strategic collaborations among market players.
Consequently, and as part of a growing industry, CROs have several challenges to surpass in order to remain visible, relevant, and competitive within the medical field. That is why advertising themselves and adopting effective communication plans has become an urgency. Luckily, there are several marketing communication strategies CROs can develop to improve their reputation, take up a meaningful place in the market, and attract audiences overseas. Let us see three of them:
Understand your target audience
This is one of the cornerstones of effective marketing. To reach a specific niche or group of costumers you will need to understand their behavior, common characteristics, demographics, and needs. But you will not be able to achieve this if you use the same standards for all your target markets all over the globe. This can only be done with marketing localization based on in-depth market research.
This language service will help you make linguistic and physical adjustments to your services, as it involves a thorough study of how culture and market conditions affect customers’ buying behavior. In other words, it allows companies to be closer to their customers and understand their specific needs from their market’s own perspective.
Make your message accessible and recognizable
The message your firm sends always has to adjust to your clients’ demands. There are many competitors in the medical field, but if you are well prepared and have proper marketing materials, you will be ready to catch your potential costumers’ attention.
Firstly, it is most likely that your audiences become aware of your existence through internet searches or ads. In this sense, some tactics like press releases, radio, TV or online ads, and Search Engine Optimization could be useful. For this matter, subtitling and dubbing services could be really useful as they would ensure your video and audio content reaches speakers of other languages across the globe.
Once you are visible, customers will know which services you offer and may look for information that will help them understand your achievements and effectiveness as an outsourcing company. Localized content like social ads, email marketing, marketing automation, and blogs are part of this process, and if you want to make the most of those tools, you should literally and figuratively speak your costumers’ language. For instance, if you are willing to reach pharmaceutical industries located in different countries, you should use a formal language without disrespecting their cultures and particularities.
To succeed in this task, medical, pharmaceutical, healthcare, biotechnology, and life sciences industries rely on DTP (Desktop Publishing) services. They ensure that product designs, documentation, and medicine packaging, among other things, are translated and artistically formatted for every target language in a way that upholds the brand’s personality.
Build trust with consistency
Few industries rely on trust as much as the medical industry. Your audience must believe your statements and your research, but most of all, they must trust in your capabilities to carry out your job effectively.
One of the quickest ways to destroy that trust is to be inconsistent in your brand’s presentation. All of your marketing tactics should have a uniform and consistent voice so it will be clear the brand knows who the audience is as well as what the company’s objectives and scopes are.
To conclude, minimizing your investment in multilingual marketing strategies would cause more damage than good to your CRO for several reasons.
- An understanding of multiple languages gives you the possibility of accessing new markets and acquiring competitive advantages, which will distinguish you from your competitors.
- Customers feel more valued when you speak their language; so, when you localize your website, app, or marketing material you are not just translating words, you are also demonstrating your willingness to embrace other cultures and developing your ability to adapt to different contexts.
- Finally, and most importantly, erasing language barriers will bring your company closer to its full potential and will ensure your presence in the medical market.
Win & Winnow provides comprehensive and customized language solutions to support our clients in their global impact. Get in touch to learn more!