Posts Tagged ‘non-personal promotional’

The hammer is about to drop on marketing budgets

The hammer is about to drop on marketing budgets. While there will still be discretionary spend on mobile and tablet pilot projects, executives are looking for measurable productivity from their marketing spend. Unproductive tactics must be prepared to surrender their pound of flesh.

The unflattering ROI spotlight that outed R&D’s poor productivity and unraveled many large sales forces is now turning its stare towards marketing. Everyone has to share the pain. But simplistic all-for-one, one-for-all across the board budget cuts are absolutely wrong. I’m concerned that this habit of making room in the budget by simply shuffling the marketing deck chairs will just punish existing physician relationships and confuse new ones.

Silver Lining
The silver lining is that this greater fiscal scrutiny should lead to more customer-focused physician marketing. Unfortunately, many brand leaders may not have the data or insight to know whether poor ROI is the result of a bad tactic, the wrong target, or poor execution.

Most launch brands spend considerable money and time crafting a unique selling proposition to differentiate their product in the marketplace. Exhausted by this grueling exercise, they tend to fall back on the standard, undifferentiated marketing playbook to promote their message.

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Physician Marketing, meet CRM

A lot of ink has been spilled on the decline of the blockbuster and the search for a new specialty-product commercial model. But less attention has been paid to how that changes physician marketing strategy.

In the traditional PCP blockbuster model, promotional saturation was effective. The medical claim could be simple and the sales message clever. It didn’t matter if marketing tactics existed in their own silos with little or no coordination. Whether it was a leading statin or ED product, there was strong consumer demand and the marketing strategy could be share of voice.

In today’s specialty market, these old assumptions are just plain wrong. Not only is the target audience smaller, the buying criteria are more sophisticated. Writing a $15,000 oncology regimen is different from writing a monthly $150 PPI script.

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The internet as intelligence

In most of my conversations with health care marketers, campaign strategy is not complete unless it includes an internet strategy. Everyone wants and needs an internet strategy (and now a mobile strategy, too) to stay relevant.

Usually when people talk about using the internet for marketing, they are thinking of it as a promotional channel. Call it digital marketing, non-personal promotion, or online communication, it doesn’t matter. The point is that for a truly integrated marketing plan these days, there needs to be a set of online tactics to make it complete.

But there is something missing from this picture. Yes the internet is a convenient, cost-effective promotional channel. It doesn’t require sales reps or postage or expensive TV buys. It’s the internet, and everyone is connected. So there you go, right?

No.

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