Digital Marketing for Pharma INDUSTRY: Why Your Brand Can’t Afford to Neglect It
Digital Marketing will be the next frontier for pharma companies as many of them are scaling up their customer businesses and introducing an array of customer brands. Traditionally, marketing innovation in the pharma industry has been stunted by heavy regulatory restrictions. Historically, pharmaceutical companies have had little to no interaction with their end-users-patients since they depended completely on their health care providers for medical knowledge and advice. With the online medium democratizing information in every sector, however, there is a huge opportunity for the pharma industry to develop patient-centric strategies and transform their fundamental business models. In fact, as patients become more digitally savvy, the lines between pharmaceutical companies and patients will most likely become increasingly blurred. Digital Marketing for pharmaceuticals and healthcare will undoubtedly become the key differentiator for brands charting out a futuristic growth strategy.
There are five factors that make digital marketing for pharma companies essential.
Patients are better informed
Patients are not just passive recipients of prescriptions anymore. They are playing a more active role in their healthcare, researching various drugs, and exercising their right to make the final decision about their health. This easy accessibility of information has both a negative and a positive side to it. On the one hand, it means patients are more educated about their health than ever before. This empowers them to make more informed decisions about their health and fully understand side effects that various drugs can have on their body. On the flip side, however, all information isn’t necessarily accurate information. To counter this, digital pharmaceutical strategies can help brands develop authority by providing patients with accurate, reliable information. By building a strong presence online and answering queries that patients might have, pharmaceutical brands can also develop a closer connection with their audience.Shift from ‘patients’ to ‘consumers’
As a direct consequence of accessibility to information, end-users for pharma brands might soon be perceived as ‘consumers’ rather than ‘patients’. Marketing solely to health care professionals will not be viable in the long run as these might not be the actual consumers in the future. Armed with greater awareness, patients are in better condition to request or reject specific brands. The consumerization of healthcare means that pharma companies will need to take a larger step towards consistently engaging users throughout their journey, ‘in good times and in bad’. Developing a rigid and trustworthy brand image through digital pharma techniques has never been more important.Transparency is forcing greater accountability
One patient’s experience with a drug no longer operates in a vacuum. The ability to track key physiological responses, progress, and efficacy of medication (made possible through wearables and the interconnected Internet of Things network) has given individuals greater visibility into their healthcare. If they have a negative experience, they are very likely to share their journey publicly over social media and cause large-scale damage to a pharma company’s brand image. Unlike in the past, companies cannot control how much information about their product is available and how it is distributed. In these conditions, digital marketing for pharma brands can effectively communicate the USPs of their drugs and develop a bond with consumers to win their trust.New competitors are closing in
The pharmaceutical industry is unlikely to preserve the oligarchic market it enjoys today. With the proliferation of technology making user’s vital information more accessible, patient healthcare information is no longer in the sole control of healthcare providers. This has led to the emergence of new competitors in the pharma space -particularly from the tech industry. These online pharmaceutical companies are moving beyond just drugs, providing patients with high-tech solutions that offer them greater visibility and control of their healthcare. Some of these include wearable activity trackers, ‘chips’, AI, VR, and other potential disruptors in the space. If traditional pharma companies do not realign their strategy, they might not be able to compete with recent entrants to win the new age ‘consumer/patient’.
In order to make the most out of a digital marketing campaign. Content should be relevant as well as educational and entertaining if possible. It also should put the customer in the center of attention.
Influencers might be a good tool to promote products that help with better health and lifestyle.
Researches and studies have shown that people are more likely to purchase a product if promoted by an influencer than the one promoted by celebrities or direct ads by the company. The reason behind this is that influencers are better trusted since they’re experts in certain niches.
Digital Marketing for pharmaceutical has the potential to completely change the face of the industry. Getting a head start and adopting a strong digital marketing strategy will give pharma companies the edge they need to stand out from the competition.
A wealth of data is available
With the large volume of data available today, pharma companies cannot afford to neglect it. Brands can get a unique insight into their consumer's concerns, behavioral habits, and more. This data, which was previously unavailable, can help pharma brands build a more comprehensive digital strategy to engage with their end-users.
Top strategies in digital marketing for pharma
Since pharmaceutical brands have operated largely in the offline space, venturing into the digital medium can seem daunting. However, with these key digital marketing for pharma strategies, companies can soon start building a strong digital-first presence and engage with customers to drive greater business results.Visual Content
Grabbing the attention of the user starts with a good visual like a creative photo, gif, or an explanation video. Then they can be engaged with the valuable content offered by the company’s social accounts. Finally, the user can decide whether they need that product or not. The user can differ from a patient to a healthcare professional looking to better help his patients.Delivering Value
Even though the pharmaceutical industry itself is of a high value for humans, some forget to show off their values and rather focus on making a splash by using fancy visuals and ignoring other important aspects, like putting the consumer first.In order to make the most out of a digital marketing campaign. Content should be relevant as well as educational and entertaining if possible. It also should put the customer in the center of attention.
Influencers
The influencer market has evolved in almost every field in our lives. What is so special about this form of social media marketing is made by people who have an expert level of knowledge or social influence in their fields.Influencers might be a good tool to promote products that help with better health and lifestyle.
Researches and studies have shown that people are more likely to purchase a product if promoted by an influencer than the one promoted by celebrities or direct ads by the company. The reason behind this is that influencers are better trusted since they’re experts in certain niches.
Mobile App Development
One of the most useful digital marketing services is mobile apps development to deliver value to their users.Digital Marketing for pharmaceutical has the potential to completely change the face of the industry. Getting a head start and adopting a strong digital marketing strategy will give pharma companies the edge they need to stand out from the competition.
