Foundations of Successful Pharma Digital Marketing Strategy

Digital marketing is becoming increasingly important in the pharmaceutical sector, particularly nowadays. In this post, we'll go through the fundamental elements of developing a successful plan.

Today, everyone is paying attention to one industry: pharmaceuticals. The Global Use of Medicine in 2019 and Outlook to 2023," will approach $1.5 trillion in 2023, with a compound annual growth rate (CAGR) of 3% to 6%. We should clarify that these are estimations generated prior to the start and rapid spread of the Covid-19 epidemic.

We are still in the midst of this emergency, both nationally and globally, and it is difficult to anticipate when and how we will emerge, as well as how our lives, society, and production systems will alter as a result.

There are, nevertheless, two certainties:

1. The first is that the pharmaceutical industry will become increasingly significant and strategic, with increasing responsibilities. Such obligations may be translated into possibilities, both for enterprises in the industry and for all of us citizens;
2. The pharmaceutical sector's Digital Transformation will be accelerated significantly. This tipping point has already been labeled "Pharma 4.0."

What exactly is Pharma 4?

Pharma 4 refers to the application of Industry 4 and Digital Transformation principles to the pharmaceutical industry. All of this necessitates a complete revamp of manufacturing, commercial, and distribution operations. It also entails a major reform of ties with the government.

 

As a result, the digital revolution begins with the same production mechanisms, which become smarter with the implementation of increasingly advanced sensor technology, the Internet of Things, as well as the adoption of predictive analytics systems based on Artificial Intelligence and Machine Learning. Of course, these new dynamics are also dependent on distribution optimization.

But that's not all: nowadays, digital is the first ally for research and development, which are vital in this business, particularly in the unprecedented period in which we find ourselves. Then there's the patient, who has become the true heart of the operation.

In reality, the ultimate purpose of the digital revolution is a new connection between businesses and individuals. So we're talking about a new form of conversation that's more targeted, more individualized, and a different approach to marketing. At the same time, it is about the importance of Customer Service.

The six most significant future drivers of digital marketing in the pharmaceutical industry

In this piece, we will discuss our thoughts on the six most critical future drivers of digital marketing in the pharmaceutical industry. To put it another way, these are the six pillars around which the sector's future strategy may be built.

1. Be directed by Data

• It has been remarked that data is "the new oil of the digital age": a may be overdone but nonetheless quite a useful metaphor.
• The internet's massive abundance of information is the driving force behind digital transformation. It is what enables all business processes to be continuously (and automatically) innovated. Above importantly, unlike oil, it is not a depleted resource...quite the contrary.
• Consider the pharmaceutical industry: there is no longer merely the data that each of us leaves behind on search engine queries, preferences expressed on social networks, geolocation, and app use (and much more).
• Today, in fact, even the objects themselves are more and more interconnected in the network. Just think of the already mentioned IoT (Internet of Things), which, in the field of health, is playing a decisive role, so much so that a new acronym has been coined: IoMT (“Internet of Medical Things”).
• Here, we are talking about mostly wearable devices that are used to monitor our state of health and well-being in real-time. All of this leads to a massive quantity of data (dubbed "Big Data") becoming available to businesses.

• The issue is to understand how to gather and evaluate this data in a deep and intelligent manner. Companies may utilize it on this basis to revamp their business and, most importantly, to get to know their audience. In reality, knowing your target is the beginning point for every marketing campaign; nowadays, you can do it with incredible precision, even down to the individual.
• Before moving on to the following issue, which is about personalization, it is important to note that participants in the pharmaceutical industry must keep certain extremely delicate factors in mind: security and tight restrictions surrounding privacy and the use of sensitive data.

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2. From "Precise Medicine" to "Designed Marketing"

• There is no doubt that the frontier of health is personalization. In fact, the concept of “Precision Medicine”, where the therapies, treatments, and even drugs themselves will be increasingly tailored to specific patients, goes beyond the “one-fits-all” model.
• This will be the future. But, if we move to Digital Marketing for the pharmaceutical industry, personalization is already present. It is about going beyond Big Data analysis and dividing your target into segments. It is about aiming at a single person, building a one-to-one dialog based on the characteristics of each one.
• That’s exactly what Doxee does, with its personalized marketing and customer relationship Manager systems. Health is the most precious commodity we have; and no one, when it comes to health, wants to feel treated “like a number”.
• That’s why all Pharma industry players are taking decisive steps in the direction of “getting closer” to patients.

3. Social Networking Sites: yet more techniques to "Get Closer"

• Today, digital marketing can only go forward through social media, and this is also true for the pharmaceutical industry.
• Let us begin with some statistics in this regard:

1. According to a Mediabistro poll, social networks affect more than 40% of people's health decisions.
2. People aged 18-24, in particular, discuss health and wellness topics on social media twice as frequently as those aged 45-54.
3. Furthermore, 90% of adults aged 18 to 24 say they trust medical information published on social media.

• These are important figures, especially given that the great majority of people spend a substantial amount of time each day on social media, where they inform themselves, compare information, and form thoughts and views.
• The duty of pharmaceutical businesses is thus to be found on those channels and with the appropriate tone of voice, combining simplicity, proximity, but also authority.

4. The importance of influencers and key opinion leaders

Let's start over with some new information:

• When making a purchase, 70% of millennials are approached by "influencers." Influencer marketing offers an average ROI of $6.50 for every $1 spent. Influencer marketing has been a huge success, and it is inextricably linked to the world of social networks (with significant growth, especially on Instagram). As a result, businesses that deal with health must learn to take advantage of its characteristics.

But it isn't all.

• Key Opinion Leaders are among the most effective weapons at the Pharma Industry's disposal today for reaching and retaining its public. Key Opinion Leaders are subject matter experts with a high level of professionalism and experience. 
• As a result, they have authoritative voices, which are essential for speaking in delicate industries like the pharmaceutical business. This is especially crucial in an environment like the internet, which is frequently infected with bogus news and deceptive information, which can backfire on sector participants.
• And what is the most effective way for key opinion leaders and influencers to communicate their messages? There is no denying it: the video.

5. Virtual and Augmented Reality: The Future of Digital Marketing has Arrived

• Most analysts believe that the digital world's future will progressively flow through VR (Virtual Reality) and AR (Augmented Reality) devices. According to the most recent research, the VR software industry is predicted to reach $4.6 billion by 2023, roughly double the present $2.6 billion.
• The most forward-thinking organizations have already spotted this trend and are taking decisive action to obtain a competitive edge. This is also true in the pharmaceutical industry.

• This is merely the beginning of a possible future revolution, and it will further reinforce the premise on which the greatest Digital Marketing strategies for the pharmaceutical business must be based: everything must center on a new relationship with patients, with individuals.

6. Content Marketing

• In the pharmaceutical industry, content marketing is becoming more strategic. But how can businesses adjust it to meet their goals and objectives? Which channels and tools are the most effective? That's what this post will be about.
• Individual and communal health challenges have never been more important or consequential than they are now. As a result, all of this translates into a massive duty that pharmaceutical corporations must shoulder. These include the domains of research, clinical trials, and laboratory trials, as well as production and distribution.
• Today the Pharma industry is called to a new challenge: that of reinventing its relationship with consumers, of setting up a dialog with patients in a new way, which goes from digitization to personalization.
• We are talking about content marketing strategies for the pharmaceutical sector. They are decisive because they combine the responsibility to educate and inform their audience, while also providing opportunities for companies in the sector to get closer and closer to customers and build customer loyalty.

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