Digital trends are changing marketing strategies
within the pharmaceutical field
Changing physician, patient, and consumer trends in
today’s increasingly digital society are forcing an evolution of pharmaceutical
marketing strategies, according to business intelligence provider Publisher.
The company’s latest Insights report states that
while the pharmaceutical field is renowned for experimenting with cutting-edge
technology to facilitate medical advancements, it has been much slower to adopt
new technologies in its marketing efforts, mostly relying on traditional
channels and methods.
According to Senior Analyst for Publisher, explains:
“Certain digital channels and marketing methods have traditionally been
perceived as too risky by pharmaceutical marketers, such as social media, Big
Data for personalized targeting, and programmatic advertising.
“However, effective implementation of digital
marketing, in conjunction with traditional channels in an integrated
multichannel marketing strategy, has the potential to expand marketing reach,
increase audience engagement, and provide a higher return on investment.”
While the challenges and risks posed by new digital
channels and overhauls of traditional processes are very real, including
regulatory compliance concerns and privacy issues, the pharma industry can no
longer ignore them given the widespread advantages they can provide, and should
instead look to minimize the risks through best practices and guidelines.
The traditional relationship between a physician and
sales representative is evolving. Given the easy access to medical information
via the internet, pharmaceutical companies are now offering eDetailing, online
customer service portals, mobile apps and other sources of online promotion and
information.
According to Senior Analyst continues: “Through
effective digital strategies, companies can reach a larger audience, often at a
much lower cost, and can personalize their message with significantly greater
precision, while simultaneously tracking audience engagement at each step of
the way”.
A successful multichannel marketing strategy does
not, however, entail replacing all traditional processes with newer digital
ones. Instead companies should seek to use digital to enhance existing
processes. Digital marketing methods can be as simple as the use of tablet
devices to complement face-to-face detailing by sales reps, or can involve more
complex approaches such as programmatic advertising.
“Evolving Pharmaceutical Marketing Strategies:
Digital as a Key Component of Multichannel Marketing report was built using
data and information sourced from proprietary databases, primary and secondary
research, and in-house analysis conducted by Publisher’s team of industry
experts.
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