Overcome Challenges In Biotech Investor Relations

Overcome Challenges In Biotech Investor Relations

Biotechnology is an exciting industry that frequently brings new innovations to the market. Communicating that news carries its own set of challenges, however, and biotech corporate communications, like what is offered by LifeSci Advisors, need to consider a variety of points to relate effectively.

It Starts from Within

An airtight internal system is essential in managing the communications process. To develop good biotech corporate communications, the internal process has to be cultivated. Consider:

  • Keeping the legal department well apprised of all ongoing activities.
  • Using smaller teams to develop a cohesive, consistent message.
  • Be cognizant of any partner’s internal relations and schedules when making announcements together.
  • Maintain a single team to handle press releases.
  • Schedule communications far into the future to anticipate any obstacles that may surface.

Storytelling and the Product

Biotech often deals with life, death and illness and pushes the buttons of human emotions. These stories must walk the line between touting the benefits of the company’s product without overdoing the manipulation of the human emotional factor.

Another important point to make when issuing biotech corporate communications is the wide range of people they reach. Many, particularly in the medical community and often among investors, will be able to understand sophisticated scientific concepts. Many have only a layman’s understanding, however, and excessive science would alienate this group.

One group, in particular, needs to be considered, and that is the patient. A smart approach is to create copy from the simple to the complex. Explain the product with simple language and build on it to reach the more sophisticated audience.

Demographics

Biotech press releases should consider differences among their audience on a national and international level. One size does not fit all, and communications must be written for individual countries and regions within those countries. This takes a lot of extra time and goes back to planning out communications well in advance.

Reaching Outside

No one PR team can handle all the biotech corporate communications alone. It is vital to have relationships with prominent news outlets, whether these are online publications, journals, traditional media sources or other. Without these relationships, it is difficult to get your message heard among the sea of similar requests. A good PR agency can help with this if necessary.

Be Visual and Creative

Visual communication is becoming more and more viable every day, and the biotecy industry is not exempted. Language should be easily understood by the average person when pushing it to media outlets.

Video or photos that communicate basic concepts in a flash makes it easier for partners to spread the word, so be sure to include it. Data graphs and colorful tables can also be an asset for this.

Branding

More than anything else, biotech corporate communications should be about branding and educating. Through social media, news outlets, PR releases and website communications, an interactive story should be engaging the public.

Highlight the leaders in the company, the breakthroughs, and what the company is doing to help the community. Measure communications efforts and double or triple down on the channels that work the best.

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