Digital Marketing for Pharmaceutical Companies
“I think the biggest innovations of the 21st Century will be at the intersection of Biology and technology. A new era is beginning” –Steve Jobs
Like all other businesses, the healthcare and pharmaceutical industry is also looking keenly at digital for enhancing and marketing their products. With the onset of competition, medicine manufactured by a pharmaceutical company may not be its only strength. All the research and development in manufacturing a drug needs to bring about results. Besides the age old method of pharma reps visiting doctors to introduce the drug to doctors, pharmaceutical companies are now utilizing the Internet and digital marketing for pharma to get maximum benefit. Social media and mobile apps are set to play a bigger role in the growth of this business. This will help people to catch up with tech-savvy emerging markets peers, approximately half the pharmaceutical companies are expected to allocate more than a fifth of their marketing budget to digital marketing by 2019.
Website and applications for medical knowledge sharing such as Knowledge Genie to those having on virtual and augmented reality to engage with doctors and patients, Pharmaceutical industries are getting their marketing strategy aligned to digital prospects.
The ease of access to information available online as well as the growing interest of consumers to explore information online firs, has led to the success of taking any business online and marketing it digitally. Doctors are not far behind and have started to adopt digital technology in their medical practice as well, follow updates about the latest advances in the medical field, and even changed their patient’s treatment plans based on the information they obtain from electronic medical records or data that the patient shares online. A reputed Healthcare digital marketing agency can guide a pharma company on how and which platforms are best suited to launch the product.
In a world where PHARMA REPRESENTATIVES are increasingly finding it difficult to contact doctors, Digital can be answer for companies to showcase their products to RELEVANT DOCTORS.
Web is going to be the driver for the learning and training industry as well. Doctor engagement programs need to utilize online mediums such as webinars more to reach the targeted audience cost-effectively.
Enormous amount of data can be generated through different initiatives and the same can be used efficiently FOR Retargeting the audience that has displayed interests on your webpage.
1. To simultaneously launch the product digitally in various cities throughout India.
2. To create BRAND AWARENESS for the newly launched product.
3. To create INTERESTS and impart KNOWLEDGE about the existing products to REACH a larger TARGET AUDIENCE through digital marketing.
4. Overcome regulatory constraints by understanding similar products that have information on the Internet.
5. Learn compliance from companies who have initiated the usage and tested the products which can help avoid pitfalls.
6. To make available the INFORMATION to the doctor at this/her convenience. Doctors no longer need to rely on company rep to be appraised about the drug. They can procure all the necessary related product information on the Internet.
7. To have global presence. Digital platforms provide maximum VISIBILITY to pharmaceutical companies manufacturing products in one country and exporting the latest drugs in different countries.
HOW DO YOU PLAN FOR THE BUDGET FOR DIGITAL MARKETING FOR YOUR PHARMACEUTICAL COMPANY
The first step is to identify a healthcare digital marketing agency. Discuss with the agency regarding their experience in the field of pharmaceutical advertising or medical advertising. If the company has a doctor onboard, it would greatly benefit to explain your product and get an insight of pharmaceutical marketing from an expert. You can choose and spend wisely to get the maximum impact for your product very cost-effectively and choose only the channels listed below to get the maximum impact for your pharmaceutical business
AWARENESS STAGE/ PRE LAUNCH: Use of Social media such as Facebook, Instagram, Pinterest, targeting doctors and RELEVANT THERAPY AREAS.
CONSIDERATION: Comparison with competitors. Highlighting your key aspects
CONVERSION: Highlighting your USPs and GOING ALL out with your selling strategy
Site engine optimization (SEO) will yield results in the long term for your product. When a Doctor is trying to find relevant information with respect to relevant keyword to your business, your site should among the top search results and that should be half the battle won for your social media campaigns.
A. Broad audience network
Digital influence has changed the way people deal with their healthcare concerns, a study showed that 83% of patients visit website of the hospital before booking an appointment, same study showed that 73% of patients use search engines to find treatment. Another study revealed that 41% of patients agreed that social media impacted their choice of healthcare providers. These facts clearly show the extent to which people rely on digital resources for their healthcare concerns.
To deal with the digital patient, doctors have ensured their online presence; a study demonstrated a 15.4% net increase in healthcare’s digital marketing spending between 2015 and 2016, this study also estimated that total spending of healthcare professionals on digital marketing will be more than $3.1 billion by 2020.
These facts and figures indicate that a large number of healthcare providers are connected to digital marketing channels. Pharmaceutical companies and medical device suppliers have the opportunity to target them through these digital marketing channels. In traditional marketing, representatives of pharmaceutical companies meet doctors and REMIND about their brand. However apart from increasing costs, and increasing number of Doctors giving lesser time for interaction, Pharmaceutical companies are able to target only a limited number of doctors. With the help of digital marketing, a large number of doctors can be targeted.
Unlike other businesses (where it is difficult to recognize target audience), pharmaceutical companies and health equipment suppliers clearly know their audience i.e. doctors and other healthcare professionals; there is no ambiguity involved in selection of audience whenever they think about starting a digital marketing campaign.
B. Growth opportunities
Digital marketing offers equal growth opportunities to all pharmaceutical and medical equipment businesses irrespective of their size and brand name. Moreover, digital resources don’t require high marketing budget. In highly competitive GENERIC pharmaceutical industry, a new or an existing business can grow rapidly by implementing a strong digital marketing strategy.
Case Study : Femibion Brand Awarness Campagin on Facebook
Femibion, a German pharmaceutical brand launched a Facebook ad campaign to increase its brand awareness and lead generation. This is a nutrient supplement that is recommended to women during pregnancy. Special Facebook ad creatives were designed to attract expectant mothers. This campaign consisted of several ad sets some of which concentrated on brand awareness and other aimed at lead generation. Leads were generated by offering an opportunity to get free samples of the product through sign up. This campaign generated 10,000 leads and samples were also distributed at 2X low cost
Digital influence in healthcare industry has compelled doctors to ensure their online presence and this has proved to be an opportunity for pharmaceuticals and medical devices suppliers to connect doctors on digital platforms and get more prescriptions for their products. Digital platforms are economical and time saving mediums for this type of businesses, they also help to increase potential reach and engagement of doctors. In near future, it will not be possible for pharmaceutical companies to survive in highly competitive environment without strong digital presence. Digital marketing for hospitals, Digital marketing for doctors, digital marketing for pharmaceuticals all go hand in hand and are a part of the overall digital marketing for healthcare industry. Digital is the beginning and end of all marketing strategies today!