Archive for December, 2016

Pharma Digital Marketing: Will it Scale?

Digital marketing isn’t innovation anymore.

 

The piloting of digital tools in pharma marketing, operations and R&D has been pervasive. But full implementation of digital in pharma marketing hasn’t happened yet.

A simple review of sales and marketing budgets tells the story. Digital marketing investments have remained modest. Only a third of pharma marketers spend more than 20% of their budget on digital. Most of that is on brand promotional emails.

Meanwhile, budgets for the field sales force or direct-to-consumer advertising remain strong.

Scale-Your-BusinessThe bottom line?
The bottom line is that digital won’t become core to the healthcare professional marketing mix until it impacts revenue. And in a meaningfully way.

Three major changes
Three major changes will need to happen before senior leadership will over-weight digital in the sales and marketing mix. These changes may be difficult, but they are all necessary.

1. Will it scale?
Sales rep access continues to decline and TV drug advertising is remains controversial. Yet both channels still command the largest part of a typical brand’s promotional budget. This has less to do with leadership’s enthusiasm for these channels and more to do with lack of confidence in digital marketing’s ability to perform as well at scale.

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