KEY TAKEAWAY: DTC marketing has many similarities with CPG marketing, but it also has a lot of differences. Perhaps no product is researched online as much a prescription drugs and consumers have a lot of resources via Dr Internet.
KEY TAKEAWAY: Across all demographic segments TV ads are ranked second in purchase decision influences, but that is not true when it comes to prescription drug ads. DTC marketers need to ask “what action is my audience going to take as a result of becoming aware of my product” and focus on tactics that engage the audience and get them into their doctor.
There are so many challenges facing DTC marketers right now including shrinking budgets and diversification of media that you have to wonder if there is enough talent to really break DTC marketing out of this funk. The priorities for pharma companies are to both reduce costs and to increase the effectiveness of all marketing programs. However is pharma it’s own worst enemy when it comes to embracing empowered health consumers and will antiquated processes and thinking limit DTC marketing ?
POST SUMMARY: “When [what you are deeply passionate about, what you can be best in the world at and what drives your economic engine] come together, not only does your work move toward greatness, but so does your life. For, in the end, it is impossible to have a great life unless it is a meaningful life. And it is very difficult to have a meaningful life without meaningful work. Perhaps, then, you might gain that rare tranquility that comes from knowing that you’ve had a hand in creating something of intrinsic excellence that makes a contribution. Indeed, you might even gain that deepest of all satisfactions: knowing that your short time here on this earth has been well spent, and that it mattered.” Jim Collins, Good to Great: Why Some Companies Make the Leap…and Others Don’t