Connecting Life Science Marketing Budgets to Outcomes
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Connecting Life Science Marketing Budgets to Outcomes
Life Science marketers have lost the link between strategy and execution. The goals they are looking to achieve are often replaced with activities they think they should do.
As a result, according to Adobe, 60% of what you’re spending could be wasted.
It’s important, first of all, to know what you want to achieve and then figure out the right tactic to achieve it.
Laura Browne of CovalentBonds LLC talked to me about how to get around this problem. She explained the different challenges faced by large and small companies and had some good advice regarding:
Why you should never let an agency determine your budget
Looking outside the life science industry for agencies with fresh ideas
The value of an experimental approach to tactics (if you measure and correct)
The benefit of using a broker in your agency selection process
Why you shouldn’t ask an agency for ideas about how they would solve your problem