According to McKinsey Global Survey results executives most often attribute the success of digital programs to managerial factors—senior management’s interest and attention, internal leadership, good program management, and alignment between organizational structure and goals— and are less likely to cite any technical considerations. In fact across most of the C-suite, larger shares of respondents report that their companies’ senior executives are now supporting and getting involved in digital initiatives. However this is an area where pharma still lags badly.
Last week I sent out some eMails to some thought leaders within our industry to ask them about the breakout and decline of DTC marketing dollars as reported by Nielsen and Cegedim. I received some pretty frank responses that are indicative of the challenges that pharma faces as they try and become better digital marketers. Among the key challenges are people who don’t understand digital marketing, the quest for “shiny” DTC marketing and legal and regulatory teams that just don’t understand digital marketing at all and thus block efforts to move into an era of consumer empowered marketing.
DTC advertising is down 22%, a lot of drugs are coming off patent and consumers are using the internet in record numbers for health according to my report for eMarketer. While the ePharma conference meets a lot of very good people know what has to be done but are the right people there to make it happen ? The biggest challenge may not be launching a digital marketing initiative it maybe just convincing management that they need to invest in digital marketing NOW.
From a great report from Capgemini Consulting comes this summary of pharma digital marketing; Some companies are what we call the “Digirati.” They have the digital maturity not only to build digital innovations, but also to drive enterprise-wide transformation. And they benefit from their actions. Digirati have significantly higher financial performance than their less digitally-mature competitors. Where does pharma rank ? At the bottom where you thought they would be…