#067: A look back at 2024

Read time: 3 minutes

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As we approach the end of the year, I know many of us are still chasing that elusive last big deal before the holidays. (Good luck—I’m rooting for you! 🤞)

While enjoying a glass of port and some cheese recently (a classy upgrade from my old Stella and doughnut days 🍺🍩), I reflected on the challenges, wins, and lessons we’ve all faced this year in life science sales.

From working with 50+ biotech companies to training hundreds of reps, one thing is clear: 2024 hasn’t been easy, but it’s been a year of growth and learning.

So let’s talk about the 5 big challenges that have shaped our industry—and, more importantly, what we can do about them:

1️⃣ Money is Tight 💸 – Focus Where It Matters

🛠 Actionable Task:

• Don’t waste time on projects that aren’t high-priority for your customer. Ask questions like:
  “What are your key goals for the next quarter?” or “What problem are you under the most pressure to solve?”

• If a deal is stuck, nurture it for later but shift your focus to opportunities that align with immediate customer needs.

• If you can align to time-critical company priorities, the budget will be allocated!

2️⃣ Engagement is HARD 🚪 – Personalize to Stand Out

🛠 Actionable Task:

• Before reaching out, research your customer’s recent publications, conference talks, or LinkedIn posts.

• Reference something specific in your email or message:
  “I saw your recent work on [topic], and I think we can help you build on those results…”

• Keep your outreach short, relevant, and easy to respond to. Remember, most people read their emails on their phone (Shhhhh its a secret but we may have something to help with this soon).

3️⃣ PIPELINE, PIPELINE, PIPELINE 🔄 – Build More Resilience

🛠 Actionable Task:

• Diversify your lead generation efforts: conferences, webinars, LinkedIn outreach, and email campaigns. Engaging with a cold prospect takes many touchpoints through multiple channels. We must meet our customers where they are most comfortable, not where you are!

• Set a weekly goal for generating new leads and track it diligently. Use tools like HubSpot or Salesforce to identify gaps in your pipeline before they become problems. If you want a calculator to help tie this to your sales target, use this sheet.

• Remember: A strong pipeline = more predictable revenue (and a lot less stress!)

4️⃣ Value Wins 🧠 – Be a Partner, Not Just a Seller

🛠 Actionable Task:

• Shift from selling to solving problems. During calls, ask deeper questions:
  “What’s your biggest obstacle right now?” or “How can we make your job easier?”

• Share resources like white papers, data insights, or relevant tools—even if they’re not tied directly to your product. This builds trust and positions you as a valuable partner.

• If you become an expert in your customer’s problems, they will want to work with you.

5️⃣ Conferences Are HOT 🔥 – Plan and Follow Up

🛠 Actionable Task:

• Before attending an event, schedule meetings in advance and identify key attendees you want to meet.

• Use a meeting link to book follow-ups on the spot before they leave the booth.

• Afterward, follow up within 48 hours. Reference your conversation and suggest clear next steps. Don’t just send the same template to everyone.

• Bonus: Share key takeaways from conference sessions in your outreach. It shows you were paying attention and keeps the conversation relevant.

💡 The Takeaway?
2024 has been tough, but the key to success is connection. When we focus on adding value, building authentic relationships, and working smarter, we create opportunities—even in challenging times.

Here’s to finishing the year strong and setting ourselves up for an incredible 2025!

Looking for more insights and actionable strategies?
At Succession.bio, we specialize in helping life science sales professionals thrive. Whether you need training, strategy, or lead generation, we’ve got your back.

🎄 Happy Holidays! 🎄

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