Research has said pharma had increased its digital spending because of the pandemic. That may be right, but I would suggest that 50% of that spending is wasted because pharma doesn’t have the resources to measure its digital marketing adequately.
There’s quite a debate in the CPG world about the investment in digital marketing. While some are increasing their digital budgets, does a pancake syrup company need to spend much money? However, with pharma brands, online is essential to a successful marketing strategy.
SUMMARY: Today, more physicians and patients rely on the Internet to answer their questions about emerging treatments, including prescription drugs. If there is one industry that needs to think more about digital, it’s pharma. The reliance on agencies still is a building block, but who on the brand team is the person to ensure you maximize your digital strategy?
SUMMARY: In its simplest form, a creative management platform, or CMP, is a cloud-based software that allows marketing teams to create, distribute, and measure the performance of digital advertising. The advantage is that marketing teams can create online ads without relying on an agency but it requires a digital marketer who fully understands the brand’s target customer.
HERE’S THE PITCH: Guidelines surrounding effective frequency are different by every advertised product. For pharma products, effective frequency is, for example, the frequency at which someone is going to go online to learn more about your product. TV alone is not going to sell your product. You need to invest in digital marketing too.
QUICK READ: A reporter for a leading business magazine recently reached out to me and asked “what are Pharma product websites so bad?”. OK, maybe not all of them are that bad but I would bet that 80% are really poor. There is a lot of blame to go around but these facts are still relevant today.