After being asked repeatedly about this information, we’ve decided to share with you key insights from our recent “Survey of Stem Cell Researchers.”
Previously, we shared with you the Top 5 Providers of Stem Cell Products. Congrats to five companies who made the list.
Today, we’re going to be sharing with you the three most influential factors that cause stem cell researchers to purchase from you over the competition.
We asked stem cell scientists, “What is most influential in your choice to purchase from a specific provider of stem cell products (over other companies available)?”
The options provided to them were:
- Company has sales representatives who can knowledgeably the discuss product
- Ease of product use
- Ease of website use
- Educational quality of sales material
- Peer recommendation
- Price
- Quality of product sales page online
- Reputation of provider
- Variety of products offered by the supplier
- Other / Unspecified
The results were fascinating, as nearly half of respondents choose the following answers:
- Price (18.3%)
- Reputation of provider (14.2%)
- Peer recommendation (13.9%)
While it is not surprising that price made this list, the more interesting answers were the next two, because they reveal the critical importance of a provider’s reputation and the substantial value of peer recommendations for products and services.
Interestingly, answers that had do efficiency and quality of client’s experience, such as “Ease of product use” and “Ease of website use” (areas where businesses spend a lot of money) did not rank highly among the respondents answers. All other options collected less than 10% of responses.
For companies that are existing leaders within the stem cell product market, it is important that you carefully maintain your reputation and nuture your client base (the population of people recommending you).
It also indicates the important of emphasizing promotions when your company makes them available, because respondents answered that price does place a role in their decision-making process.
To learn more or access the full survey of stem cell researchers, view the global strategic report “Stem Cell Research Products – Opportunities, Tools, and Technologies.”
About Us
BioInformant is the only research firm that has served the stem cell sector since it emerged. BioInformant has been featured on news outlets including the Wall Street Journal, Nature Biotechnology, Medical Ethics, and Vogue Magazine. Serving Fortune 500 leaders that include GE Healthcare, Pfizer, Goldman Sachs, and Becton Dickinson, BioInformant is your global leader in stem cell industry data.