Small biotech start-ups should look to web analytics

Biotech start-ups face challenges in raising money and cutting through the “noise” of other prominent pharma marketers, but their website can provide a wealth of insights into what visitors want to know.

One of our most frequent requests is to analyze small biotech websites. Some are in the start-up mode and don’t have the money to hire full-time digital marketers; others may have just received limited approval of one of their drugs and are still in clinical trials.

Here are some of the things that small biotechs can learn from their web analytics:

1ne: Where are people coming from? Click-stream analysis can be critical. It can help us determine if someone is interested in the company as a potential investor or an HCP who wants to know about clinical trials.

2wo: How long are they staying on your site, and what pages get the most views? An analysis of a recent small biotech based in California revealed that although they were getting some good traffic, the time on site was often less than a minute and the bounce rate was high.

Too many try to say too much with too much copy. Remember, people scan the web; they don’t read every word you publish. Keep it short, keep it simple, and use callouts to communicate important messages to your audience.

3hree: PLEASE update your site regularly – We often see a high number of returning visitors to websites, but the time on site is very low, along with a high bounce rate. These people are looking for something new so keep them abreast of what’s going on.

4our: Differentiate investor content from medical content – Investors have different needs from HCPs, and you need to make it simple to get the information they want.

5ive: Provide links to your PR agency so the media can get updated information as it becomes available.

6ix: Use your website for clinical trial recruitment information – With the trouble in Europe causing havoc on clinical trials, more biotech companies are turning to DTC in select markets. Still, your website can also provide links for physicians who want to get into trials.

7even: Skip the executive team bio’s – Only analysts are interested, and they only want to know about your CEO and CFO.

8ight-Don’t skimp on your website: If a potential investor or doctor comes to your website and it looks like it was developed by someone in Thailand for $600, it’s a bad reflection on your company.

9ine- Use social media: The number of analysts and media that follow pharma social media on Twitter is astonishing. You should use social media to keep people informed and, most importantly, keep your company on top of mind.

The biggest challenge we often find is the lack of a digital strategy by small biotechs. They usually don’t have the money and believe that it takes a small fortune to develop a website prelaunch. (It doesn’t).

The strategy and execution are essential for biotech start-ups when it comes to digital.