In the environment of the pharma industry, finding a niche in the marketing world isn't always easy. Industry changes can happen at a quicker pace than most people would care to admit, while deals months or even years in the making can sometimes fall through. By building strong relationships within the pharma industry and beyond, however, many marketing professionals find that the long-term benefits of networking can be enormous. Here are just a few reasons why building relationships in pharma marketing can be a life-changing experience, and why networking might be a skill you'll want to build on in 2019.
1. Long-Term Clients, Long-Term Friendships
For many pharma-centered businesses, the "80-20 Rule" (or some variation thereof) is consistently one of the most important keys to success in the marketing world and beyond. So-called because it refers to the received wisdom that "80 percent of all business comes from 20 percent of clients," the rule is important because it prizes the cultivation of relationships with a small group of loyal customers and clients who will provide the bulk of a company's business throughout that company's lifespan. When we cultivate strong relationships in pharma marketing, in other words, we make our company stronger in the process and create some of our most loyal clients.
2. Career Success Through Networking
As a career blossoms into new stages, individuals often find that a switch to a new company can provide a better work-life balance, more hands-on problem-solving, and a company culture that truly fits with their values. When we're considering a career change, knowing people in the field matters in a big way, especially when contacts can provide personal recommendations about our abilities to a prospective company's hiring managers. In career-building, good relationships are truly helpful when we're ready to make the next step in our working life.
In the case of business to business networking, finding the right connections is essential to creating a solid network. However, if you don’t know someone in the industry, marketing is a great way to begin finding professional relationships. Many companies use marketing through an SEO agency to find connections that they wouldn’t otherwise be able to find. Having the tools to find the best relationships will make all the difference in creating a solid network that you can rely on in future business endeavors.
3. The Ability to Help Others
To earn a truly stellar reputation in business, we'll often find that being the person who can help others to solve their problems is a great skill to have. Building relationships is just one great way to help others within our field: See if you can recommend a skilled professional who can assist them to achieve their goals. Do you know a client who really needs to make a sale? Try connecting them with a business who would benefit from their company's products or services. When you are seen as a person who can help others to succeed, others will want to help you too!
4. Creating Steadfast Loyalty
When it comes to personal relationships in pharma marketing, long-term loyalty can really pay off. Actions often speak much louder than words, and when others can rely on us to create a fair deal that helps both sides in an agreement succeed to their greatest potential, we'll be the kind of person that others turn to when the going gets tough. In pharma marketing, a reputation as a fair dealer and problem-solver can really lead to career success!
For these reasons, building relationships in pharma marketing isn't always easy, but it is usually worth the time and effort. The process may be difficult, especially for professionals who aren't social butterflies and who would rather stay in to watch a movie than go to another company meet-and-greet, but with practice, building relationships can often become second-nature. Fortunately, the friendships that we build along the way are often the greatest reward of building a marketing career that truly makes a difference. And that is business done right!
About the Author: Dawn is a budding entrepreneur. After graduating with her MBA, she spent a few years working in the CPG industry and a few more working in the business tech industry before she set off to start her own business. She has been consulting with businesses, large and small, on the side ever since.