Follow Bill: https://www.linkedin.com/in/founderandcdo/
Contact Bill: https://meshagency.com/lets-connect/

Follow Karthik: https://www.linkedin.com/in/kansasbioengineer/

Video Podcast: https://www.youtube.com/@BillSchickFCMO
Audio Podcast: https://www.buzzsprout.com/2380430

In this episode of LifeSci Continuum, I'm joined by Karthik Ramachandran, a Biotech Executive and Co-Founder of Likarda, to tackle three major misconceptions that new life science founders face.

We examine critical challenges like customer acquisition, the “build it and they will come” fallacy, and understanding the information customers need to make high-stakes purchasing decisions. Karthik shares insights from his journey as a scientist turned entrepreneur, offering valuable advice on business planning, product development, and navigating the complex world of biotech startups.

The "Build It and They Will Come" Fallacy

The "build it and they will come" fallacy is the mistaken belief that simply creating a great product will automatically attract customers. Many life science startups fall into this trap because they focus heavily on product development and assume that their innovative solution will naturally generate interest and sales.

However, without a well-thought-out marketing, sales, and customer acquisition strategy, even groundbreaking products struggle to gain traction. In life sciences, this is particularly problematic because the markets are niche, highly competitive, and require deep customer education and engagement for success.

To learn more about the Build it and They Will Come fallacy or myth, what contributes to it, and how you can overcome it, check out my blog: https://meshagency.com/life-sciences-misconceptions-the-build-it-and-they-will-come-fallacy-a-myth-busted/

Scientists, clinicians, and engineers often fall prey to the "build it and they will come" fallacy because they are trained to focus on solving technical problems and developing innovative solutions. They assume that if the product is scientifically sound or technically advanced, it will naturally attract interest.

However, they may underestimate the importance of customer education, marketing, and the complexities of market adoption. Additionally, their expertise in research and development can lead to a bias toward the product’s capabilities rather than the customer’s needs or market readiness.

Here are three things life science founders can do to avoid or overcome the "build it and they will come" fallacy:
1. Develop a Customer-Centric Strategy Early: Engage potential customers from the start through interviews, focus groups, or surveys to understand their needs and ensure product-market fit.
2. Create a Go-to-Market Plan: Build a marketing and sales strategy that includes how to reach customers, educate them, and create demand for the product.
3. Prioritize Partnerships and Networking: Collaborate with key opinion leaders (KOLs), healthcare institutions, and industry influencers to build credibility and accelerate adoption.

For more specialized help with growing your life science company, check out my firm, Mesh Agency. https://meshagency.com/

#BiotechInnovation
#LifeSciencesGrowth
#HealthcareInnovation

Follow Bill: https://www.linkedin.com/in/founderandcdo/
Contact Bill: https://meshagency.com/lets-connect/

Video Podcast: https://www.youtube.com/@BillSchickFCMO
Audio Podcast: https://www.buzzsprout.com/2380430

In this episode of LifeSci Continuum, I’m joined by Glenn Hanner, FCMO and experienced marketing leader in the industry to explore how life sciences companies can tap into the power of storytelling and the voice of the customer to create product differentiation and develop new market niches.

Glenn shares his insights on turning customer feedback into compelling marketing messages, building strong product positioning, and crafting stories that resonate emotionally with end-users. From copywriting to crafting a go-to-market strategy, this episode covers critical aspects of successful life sciences marketing.

He discusses how leveraging the voice of the customer is pivotal in driving product differentiation and creating new market opportunities in life sciences. By deeply understanding customer pain points and needs, companies can tailor their marketing strategies to solve specific problems, offering unique value.

Glenn also emphasizes the importance of using emotionally engaging storytelling and clear, concise copywriting to communicate this value, ensuring your product resonates with both technical and non-technical audiences. Additionally, we dive into the process of carving out new niches by listening to customers and creating solutions that fill unmet needs. This episode offers practical guidance on how to stand out in a crowded market while keeping the customer at the center of your strategy.

Why are we focusing on voice of customer?

Technical and science-based founders in life sciences often overlook the voice of customer because they tend to approach product development from a problem-solving mindset. They assume that the issues they perceive will be equally apparent and valued by the market. This leads them to believe that customers will automatically recognize the value of their innovation, especially when it solves a technical or scientific challenge. However, customers may not always share the same priorities, and without direct feedback, founders risk creating products that don’t align with real-world needs or user preferences. Additionally, these founders often undervalue the importance of marketing and customer insight, assuming that the superior functionality of their solution will drive demand on its own.

This disconnect stems from a belief that a product’s technical brilliance will lead to adoption, but in reality, the customer’s experience and perceived value often dictate success. Listening to customers helps align product features, messaging, and benefits with what matters most to the market, ensuring the solution is seen as essential and not just an interesting innovation.

Here are three quick tips to work around the tendency of technical founders to overlook the voice of the customer:
1. Engage Early with End Users: Involve potential customers from the product ideation stage through user surveys, interviews, or focus groups. Their input will reveal whether the perceived problem and solution resonate with them.
2. Create Customer Personas: Develop detailed customer personas based on real data to ensure the product and messaging align with the actual needs and priorities of the target audience.
3. Iterate Based on Feedback: Implement feedback loops to regularly refine product features, positioning, and messaging based on customer reactions and market demand.

#LifeSciences #HealthcareInnovation #ProductMarketing

Follow Bill: https://www.linkedin.com/in/founderandcdo/
Contact Bill: https://meshagency.com/lets-connect/

Video Podcast: https://www.youtube.com/@BillSchickFCMO
Audio Podcast: https://www.buzzsprout.com/2380430

Follow Marc: https://www.linkedin.com/in/digitalmktggeek/
About Marc: Marc is a veteran digital marketing and communications professional with a proven record in medical devices, consumer goods, and industries ranging from industrial robotics to liquor and wine. He is shamelessly scientific & unapologetically passionate.

In this episode, I’m joined by Marc, a digital marketing and communications veteran with extensive experience in medical devices. We dive deep into how he built a groundbreaking online “university” providing continuing education (CE) credits for respiratory therapists.

Marc walks us through the step-by-step process of transforming an in-person training model and webinars into a scalable online platform that not only drove product growth but became a powerful marketing tool. If you’ve ever wondered how education can be maximized for growth, this episode is a must-listen for life sciences marketers.

Marc explains how his company transitioned from in-person training and sporadic webinars to creating an on-demand online academy accredited to offer CE credits for respiratory therapists and nurses.

He emphasizes the importance of treating education as a product—one that requires attention to user engagement, content refreshment, and alignment with professional requirements. Marc shares how this strategy led to a habit-forming educational model, built trust with key audiences, and significantly expanded the company’s market reach. We explore the impact of sustainable, targeted education as a marketing tool, focusing on growth through value creation rather than traditional promotions.

Tune in to learn how this approach can revolutionize niche markets, drive product adoption, and foster long-term customer relationships.

#HealthcareMarketing
#LifeSciences
#OnlineEducation
#CECredits
#DigitalLearning
#MedicalDevices
#RespiratoryTherapy
#MarketingInnovation
#HealthcareGrowth
#ContinuingEducation
#NicheMarketing
#ProductGrowth
#MedicalMarketing
#lifesciencesmarketing
#lifesciencesbranding