Archive for June, 2014

Expectations on the Rise for Digital Marketing in Pharma

ExpecatationsI’ve begun to observe among our clients a distinct shift in expectations for the role of digital marketing. Even though pharma marketing budgets continue to invest in the traditional channels of television and print, I’m seeing a change in how digital is viewed, and that’s a positive sign.

Smarter Marketing Talent
The caliber of marketing talent in key pharma leadership roles has improved, bringing higher expectations for technology and digital-based marketing. Marketers in both so-called centers of excellence and at the brand level are demanding measurable goals for what technology can be and should be doing for their company and their products. They reward success and fire agencies or technology partners that don’t meet expectations.

The Amazon Effect
Online retail and social media companies have raised the bar of consumer expectations for access to information and the ability to search and buy in a very seamless way. But until recently, consumer expectations didn’t impact pharma. Now, the online consumer experience is raising the bar on healthcare.

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Traits of a Healthy Marketing Agency

As closerlook passed 100+ employees last  year, I began to reflect on what makes (and keeps) an agency healthy. Although there are many qualities that one might attribute to a healthy agency, I’ve boiled it down to four main traits or characteristics that I think are key, at least in my experience.

traitsBusiness Clarity
The first trait of a healthy agency is clarity. The agency should be clear about what they do and don’t do. A healthy agency’s focus is rooted in deep expertise and a clear understanding of its business value.

In other words, a healthy agency knows what role they play in the business of their client. They know what kind of influence they have. Healthy agencies don’t think of themselves as just executors of strategy, but thinkers — they have brains, not just hands. Successful agencies want to have impact. They want to move the needle, not just deliver on tactics. They really see themselves as a business partner for their clients. Read Full Article Now »

Pharma and its Love of Deal Making. All Good This Time.

3-wayThe recent 3-way deal between GSK, Novartis and Lilly represented a major transaction for all three companies. The deal has been scrutinized by the Street like a master chessboard swap of assets, in this case, molecules. Obviously, it took a fair bit of corporate development work to make these deals happen, so it’s actually pretty impressive from that perspective. But what’s more interesting to me is the strategy that these moves belie. It’s another clue to how pharma is changing.

For the past thirty years, pharma companies rose or fell based on their ability to develop or acquire a drug with blockbuster potential. Sometimes blockbusters just showed up, as did the disappointing blood pressure medication with unusual side effects called Viagra. Or the also-ran cholesterol-lowering drug that was almost cancelled because it would be the fifth drug in its class and that went on to become the largest drug in history. Read Full Article Now »