Communication is key in all relationships, whether it is between a girlfriend and boyfriend or between a husband and wife.
It is also important in the business to customer relationship. Communication between a business and a customer is good, but a customer wants and needs more than basic communication.
A business must use strategic communication to maintain customer satisfaction, along with increasing the amount of new customers to the business.
Now you may be thinking, “If the business has a really good product then it will sell itself and attract the customers on its own.” I wish this was the case, but at the same time if that was the case then I wouldn’t have a job.
A prime example of a company that produces an amazing product but lacks in strategic communication is Gilead Sciences. Unfortunately, this company has one of the most miraculous products known to man kind and for some reason they are struggling to gain footing in the stock market.
Not many people have heard of Gilead Sciences, so before I go on lets take a second to find out what this company is.
Gilead’s website does a great job of summarizing what they do in one sentence and that is that they are a research-based Bio Pharmaceutical company that discovers, develops and commercialize innovative medicines in areas of unmet medical need.
They research how to create medicines to treat the diseases that are incurable. Some examples of drugs that they have created are Viread, Truvada, Viread (HBV) and Sovaldi. If you have never heard of these drugs then that is most likely a good thing for your health. Viread and Truvada are two different pills that work together to hold AIDS at a stand still in patients. This is allowing people with AIDS to live much longer lives then before these drugs were created.
The second Viread pill that was created is the cure to Hepatitis B and Gilead is responsible for creating all of these products and more.
Now you are probably thinking to yourself, “Damn, this company is saving so many people there is no way they are doing bad in the stock market.” Well on the contrary, Gilead stock hit their highest mark in June of 2015 at $119.80 a share. Sense then, Gilead has been on a steady decline to $66.58, which is where the stock currently stands as of 4/9/17.
Gilead should not be doing this poorly in the stock market when their product is cutting edge and saving lives around the world. I believe with the right strategic communication this could be the number one stock in the Bio Tech world.
Make sure to stay tuned for part two of “The Need for Strategic Communication, When Saving Lives.” Where I will be discussing the type of strategic communication that will help Gilead make its come back in the stocks and the customers hearts.