Navigating the Biopharma Maze: Adapt or Perish

In a recent conversation with a client, a CEO lamented the stark contrast between the present and a year ago. Twelve months prior, their facilities were booked solid for half a year, and they were contemplating a move to new premises to accommodate burgeoning demand. Fast forward to today, and they’re still in their old location, with room to spare for new projects. The CEO’s question was simple yet piercing: “Why aren’t we booking as many sales meetings as we used to?”

This isn’t an isolated incident; it’s symptomatic of broader shifts in the biopharma landscape. So, let’s dissect the problem and explore what we’re doing to adapt.

The State of the Biopharma Sector: A Snapshot

First, let’s consider the macro trends. On the one hand, you have companies like 2seventy bio and iSpecimen slashing their workforce by 40% and 20%, respectively. Inflation and drug pricing are emerging as formidable barriers to growth. On the other hand, there’s a silver lining: ROME Therapeutics recently closed a $72M Series B, and the Massachusetts biopharma workforce grew by nearly 7% in 2022. The sector is not monolithic; it’s a patchwork of triumphs and tribulations.

The Ground Reality: What We’re Hearing

Our outreach efforts offer us a unique vantage point. We’ve heard biopharma employees say, “This is my last day here; collaboration talks are moot.” Others mention a strategic shift to focus solely on clinical programs, sidelining preclinical efforts. And then there’s the ubiquitous “no longer with the company” response.

The Digital Deluge: A New Challenge

Post-pandemic, the business world has migrated online, leading to a deluge of digital communication. Hugh Geiger’s observation on LinkedIn encapsulates this well: “Hyper-scalable spambots are coming. Abandon your email and turn off your phone.” The sheer volume of emails and calls has made it increasingly difficult to capture attention, let alone engage in meaningful dialogue.

The Confluence of Trends and Challenges

When you overlay industry-specific trends with universal challenges like digital overload, the picture becomes clear. We’re navigating a complex maze, but it’s not a dead-end. There’s a way out, and it involves adaptation, resilience, and innovation.

Our Adaptive Strategies

  • Per-Meeting Model: We’ve stuck to our per-meeting pricing structure, ensuring you only pay for meetings that actually materialize.
  • Email Refinement: We’re in a constant cycle of improving our email content to make it not just relevant but also easy to read and act upon.
  • Alternative Engagement Channels: We’re not putting all our eggs in the email basket. LinkedIn is becoming increasingly important in our outreach strategy.
  • Smarter Contact Identification: We’re honing our algorithms to identify the most promising contacts, focusing on those who are most likely to benefit from our clients’ offerings.
  • Prioritized Outreach: We’re strategically reaching out to biopharma companies that are making significant progress in their programs, as they’re more likely to require vendor services.

So, what are you doing to not just survive but thrive in this intricate landscape? The challenges are formidable, but they’re not insurmountable. It’s a test of our collective ingenuity and resilience, and I’m optimistic that we’ll emerge stronger on the other side.

Customer testimonials

Karim Mohammed
CEO @ Tranquil Clinical Research, Clinical Research Organization & Clinical Site
Meetings.bio has mastered the ability to open doors that were previously closed. The impressive team of folks that works to continuously build business for me, learns my business and then sets out to build my business. If you need a team to get you out in front of the right clients, Meetings.bio has consistently performed for my organization.
Rafael Rosengarten
CEO @ Genialis, Data science and drug discovery company
Meetings.bio gets you in front of your customers with insane efficiency. They figure out the right people to talk with, and deliver that meeting directly to your calendar. Doing business in the life sciences and biotech industries requires a deep understanding of these markets. The Meetings.bio team gets it, and this enables a personalized approach to outreach that resonates with its audience.
Kyle Giffin
Chief Operating Officer, LatchBio
Meetings.bio simply delivers. A totally professional team, they have increased our meeting count and helped us close real customers. I’m grateful to be working with Klemen and Urska, and would recommend their service to others in biotech.
CEO
Switzerland-based service provider
Meetings.bio are true domain experts and have consistently delivered highly qualified leads for us. Their approach to lead-generation is highly targeted and focused allowing me to spend my time and efforts on pursuing high-ticket business opportunities. I highly recommend Meetings.bio to anyone looking to optimize their marketing budgets, whilst still making meaningful connections in the life-science industry.
VP Sales
San Diego-based platform biotechnology company
Running a lean start up requires effective lead generation for commercial activities. The team at Meetings.bio took the time to learn our technology and our solution services with our company. They worked effectively to bring our organization high quality prospects for our early access program and sales. I would highly recommend their organization for any company looking to outsource their lead generation.
Head of Business Development
European CRO
Meetings.bio helped us to generate a multitude of introductory meetings with potential clients and some of these meetings were the starting point of new exciting business relationships. The collaboration is smooth and efficient and when comparing costs per high quality lead the Meetings.bio approach is superior compared to other lead generating methods such as congresses or webinars.

Check if you qualify

To take advantage of Meetings.bio services, your business must fulfill the following eligibility requirements:

  • Sales process includes exploratory sales meeting
  • Target one or more of supported industries
  • Audience size > 1,000 - Calculate your target audience size
  • Average annual contract value > $5,000
  • Direct sales, not (only) via distributors
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How our clients describe Meetings.bio:

“An efficient company that helps us to find good leads for new projects so that we could close contracts from leads we got from them. I recommend trying them out.”
“An efficient way of outsourcing contacting new business leads.”
“Provides quality contacts/prospects for sales.”
“Meetings.bio has helped us to find several of our recurring customers.”
“Flexible, focused, responsive, experts.”
“A risk-free method to collect new leads.”
“Reactive and collaborative company that can create meetings for you.”
“Helps us find clients by booking meetings on our behalf.”
“A facilitator to generate great qualified leads using tailored mail marketing strategy.”
“A great way to get meetings without having to worry about how to send and manage cold emails.”
“Resource for targeted lead generation to supplement your business development initiatives.”
“Reliable and efficient leadgen service provider for life sciences.”
“An extension of your business development team to help you find new valid leads.”
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