Multichannel marketing (MCM) refers to the integration of various marketing channels into an overall synergetic strategy. Utilization of information from all the channels in a feedback loop is termed closed-loop marketing (CLM). While they require co-ordination, effective MCM and CLM can boost growth and reduce costs.
While the pharmaceutical industry readily adopts new technologies to provide medical advancements, it has been much slower to adopt technology within its marketing efforts, mostly relying on traditional channels and methods. However, the decreasing effectiveness of these traditional channels, given changing physician, patient and consumer trends in today’s increasingly digital society, is forcing an evolution of pharmaceutical marketing strategies.
The pharmaceutical field has always experimented with and adopted technology to provide medical advancements, leading to robotic surgery systems, gene therapies, stem cell treatments, next-generation synthetic limbs and cameras that can be swallowed. However, it has been much slower to adopt new technologies in its marketing efforts, mostly relying on traditional channels and methods (Niemi, 2015).
Certain digital channels and marketing methods have traditionally been perceived as too risky by pharma marketers, such as social media, Big Data for personalized targeting, and programmatic advertising. However, effective implementation of digital marketing, in conjunction with traditional channels in an integrated multichannel marketing strategy, has the ability to expand marketing reach, increase audience engagement, provide higher return on investment (ROI) and improve methods of tracking ROI for pharmaceutical companies.
The report “Evolving Pharmaceutical Marketing Strategies: Digital as a Key Component of Multichannel Marketing” an overview of the various marketing channels available to pharma, and examines the factors driving change within this field.
In particular, it provides the following analysis:
- Analyzes how a wide range of digital marketing methods can be effectively integrated into a synergistic multichannel marketing strategy that allows both traditional and newer channels to complement each other.
- Helps to examine the changing pharma marketing landscape and the factors driving this change.
- Analysis of the main challenges and risks associated with digital marketing methods, in addition to potential solutions and approaches to overcoming them, is provided.
- Real-world case studies of marketing strategies and campaigns employed by pharma are also included.
- It examines how various new digital marketing strategies can be incorporated alongside traditional channels as part of an integrated multichannel marketing strategy.
- Explores potential challenges and risks associated with new channels and marketing methods, as well as providing potential solutions and approaches to overcoming these.
1 Executive Summary
1.1 Overview of Marketing Channels Available to Pharma
2 Drivers of Change in Pharma Marketing Strategy
2.1 Evolving Patient and Consumer Market Trends
2.2 Evolving Physician Market Trends
2.3 Paradigm Shifts in Pharma Sale Force
2.4 Advantages of Digital Strategies versus Traditional Marketing
2.5 Evolving Market Access Strategies
3 Digital and Multichannel Marketing Strategies
3.1 What is Multichannel Marketing?
3.2 Implementing a Multichannel Marketing Strategy
3.3 Implementing Digital into Face-to-Face Detailing
3.5 Big Data Solutions for Pharma Marketing
3.6 Predictive Modeling: Fundamental Source of Big Data’s Power
3.7 Leveraging Big Data Solutions to Target Physicians
3.8 Using Big Data for Sales Force Allocation
3.9 Social Media: Key Opportunities Provided by this Channel
3.10 Social Media Marketing: Key Points to Note
3.11 Social Media Marketing Case Study
3.12 Embracing Video Content for Digital Pharma Marketing
3.13 Key Features of Effective Video Marketing
3.14 Prepare for Digital Drug Launches
3.15 Mobile Marketing: Updating Practices for the Smartphone Era
3.16 Pharma Mobile Apps
3.17 Closed-Loop Marketing as part of Multichannel Marketing
3.18 Medical Science Liaisons as part of Multichannel Marketing
3.19 Utilizing Digital Tools to Empower Medical Science Liaisons
3.20 Programmatic Advertising in Pharma
3.21 Programmatic Advertising in Pharma: Approaches to Avoid Regulatory Issues
4 Challenges of Pharma Digital Marketing and Solutions
4.1 Social Media Strategies for Pharma: Challenges and Solutions
4.2 AstraZeneca: Social Media Guidance
4.3 Privacy Issues
4.4 Digital Talent Gap in Pharma and Other Organizational Challenges
4.5 How Does Branded Content Stay Relevant in the Internet Age?
4.6 Challenge of Measuring Return on Investment in a Multichannel Marketing Strategy
4.7 How to Accelerate Digital Marketing
5 Pharma Digital Marketing Strategies: Case Studies
5.1 GSK and Pfizer
5.2 Novartis and Sanofi
5.3 Johnson & Johnson and Merck & Co
5.4 Social Media Use in Pharma – Case Studies
5.5 Report Summary
Digital trends are changing marketing strategies within the pharmaceutical field.
Changing physician, patient, and consumer trends in today’s increasingly digital society are forcing an evolution of pharmaceutical marketing strategies.
The latest report states that while the pharmaceutical field is renowned for experimenting with cutting-edge technology to facilitate medical advancements, it has been much slower to adopt new technologies in its marketing efforts, mostly relying on traditional channels and methods.
Arshad Ahad, Analyst, explains: “Certain digital channels and marketing methods have traditionally been perceived as too risky by pharmaceutical marketers, such as social media, Big Data for personalized targeting, and programmatic advertising.
“However, effective implementation of digital marketing, in conjunction with traditional channels in an integrated multichannel marketing strategy, has the potential to expand marketing reach, increase audience engagement, and provide a higher return on investment.”
While the challenges and risks posed by new digital channels and overhauls of traditional processes are very real, including regulatory compliance concerns and privacy issues, the pharma industry can no longer ignore them given the widespread advantages they can provide, and should instead look to minimize the risks through best practices and guidelines.
The traditional relationship between a physician and sales representative is evolving. Given the easy access to medical information via the internet, pharmaceutical companies are now offering eDetailing, online customer service portals, mobile apps and other sources of online promotion and information.
Ahad continues: “Through effective digital strategies, companies can reach a larger audience, often at a much lower cost, and can personalize their message with significantly greater precision, while simultaneously tracking audience engagement at each step of the way”.
A successful multichannel marketing strategy does not, however, entail replacing all traditional processes with newer digital ones. Instead companies should seek to use digital to enhance existing processes. Digital marketing methods can be as simple as the use of tablet devices to complement face-to-face detailing by sales reps, or can involve more complex approaches such as programmatic advertising.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis.