Right now, you can’t keep essential lab consumables, such as pipette tips, or general benchtop equipment like mass spectrometers or fridges in stock. But what about the specialty, less popular life sciences products? Demand exists for these long-tail items, but they are not popular enough for stores to carry them.
In order to sell those products, you must get them in front of the lab scientists and R&D procurement who are looking for them. The road to sales is littered with many hurdles and competing with big players is difficult, with a very uneven playing field.
Obstacles to new life sciences supply sales
- Reaching new customers, especially at larger biopharma organizations, typically requires a large sales and marketing investment, eroding profitability.
- New suppliers must be vetted by procurement, which can be a long and unsuccessful process.
- Approved new suppliers must be added to the system and also onboarded, increasing lead time and affecting experiment deadlines.
- Inefficient communication of product availability and order tracking frustrates the lab, reducing repeat buys.
There is a way to bypass these obstacles and become a preferred supplier for thousands of clients, by partnering with a digital life sciences marketplace, such as ZAGENO. ZAGENO is on a mission to accelerate scientific innovation by streamlining biotech purchasing processes with its award-winning, first-of-its-kind e-commerce platform.
Benefits of using a digital marketplace as a new sales channel
- Completely new, incremental channel to reach thousands of buyers, with no investment in sales and marketing.
- Access to smaller companies without a procurement team or training.
- Reduced processing costs due to a fully automated and integrated system.
- Complete visibility into all sales and account receivables.
- Real-time pricing updates and fully automated order inflow.
- Consolidated invoicing and payment.
- Added opportunity for scientists to discover your more popular SKUs as they start to develop a relationship with your brand.
- Get ahead of the vendor consolidation trend by serving as vendor of record for all of ZAGENO’s customers, no additional vetting or onboarding needed.
The life sciences industry is getting more crowded and competing for share of voice is getting more expensive. Using a self-service digital marketplace as your new sales channel will help your less popular products easily connect with the scientists who need them.