How digital and social media is impacting pharmaceutical marketing
The world as we know it is changing. Our stakeholder’s way of thinking, and behaving, is changing due to 24/7 access to global information. So how does this impact our industry and what are the opportunities for pharma marketers?
Patients are engaging online around their health, and they expect to be able to engage online with other people and companies in this space. They do not understand why big pharma companies does not engage and this exacerbates the industry’s poor reputation. From a corporate marketing point of view this is an easy win. By accepting social media, rather than avoiding it, companies can start to have a positive impact on their reputation, and build corporate brand value.
This new dynamic is also impacting physicians, who face patients coming to appointments well informed, and with different questions than they used to, for example “is there an app for that”. Here again is a nice win for marketers. Rather than focusing on providing the information that they want physicians to hear, i.e. all about their product, why not look at also providing value by helping physicians with some of these real-world issues? Why not sponsor an assessment of disease apps, or ensure that the physician is kept up to date with what patients are Googling?
Another impact that the digital environment has led to is an increased pressure on people’s time. Marketing now means that you are no longer just competing with another pharma company. You now compete with a whole array of different parties to get a slice of a physician’s time. Give a person the choice to access information when they want and how they want, or to physically sit through a sales call at a specified time and it is a no-brainer which option people will increasingly choose. That is not to say that people will stop choosing the physical meeting altogether but they want a mix of options – and a choice.
Here again that word “value” comes in. As a marketer the way to grab a piece of someone’s time is to deliver value, both in terms of channel preference but also in terms of content. Digital enables us to understand individual’s areas of interest – why not then deliver your marketing information tailored to their preferences?
Of course this costs money, which is an age old problem. Again digital can help. Traditionally pharma marketing has been very siloed, by brand, function and geography. Digital provides the means to break down these siloes and generate cost efficiencies. By working in a more collaborative way, digitally facilitated, companies can reduce waste, for example in asset development and in time. Why should each brand, in each country, produce their own app? Often they have a similar end use and the backbone could be developed jointly and then adapted for local end use.
And this brings me onto the final massive change that digital, and in particular social media, has led to – namely access to information. The amount of information available on our stakeholders online is huge. Despite this I still see teams basing the bulk of their marketing plans on traditional market research with very little social media listening included. Now social media listening is not the be-all-end-all but it should be included. It provides key insights that need to be part of a modern marketing plan, for example where do your customers go for information, what topics are they talking about (and here is a hint – it is probably not about you) and what are their needs. Social media enables pharma marketers to get a better understanding of stakeholder’s emotions and behaviours, and at the end of the day it is emotions and behaviours that impact pharma sales.
Digital is no longer new and it is an integral part of daily life. Companies today should be optimising their marketing to reflect this digital impact and to start offering their stakeholder’s real value.