Why is pharma so far behind?

outdated-websitePharma always seems to be a day late and a dollar short when it comes to developing relevant marketing.  Why does this happen and what can be done to remedy the situation?

As I read about CPG companies developing new ways to market their products to consumers I wondered if pharma would ever catch up.  I decided to call some high ranking people within the industry, on the agency side, to ask them why pharma marketing continues to lag when it comes to utilizing a multichannel approach.  Here is a summary of what they said..

1ne: Capabilities. “Most pharma organizations just don’t have the infrastructure to support multiple channels and when they do they have to cross boundaries which takes time and causes conflict”.

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2wo: People. “There is no doubt that the most talented people in marketing, especially digital, are on the agency side or have left pharma for brighter pastures”.

3hree: Fear of spending. Pharma business models are in the midst of a “shake-up”, said one VP. “When there is so much uncertainty about future revenue it’s very difficult to increase budgets for what management feels are expenses”.

I a wanted to know what are their biggest concerns were when it came to managing pharma clients and they all agreed that “lack of budget” was number one.  While they understand that the days of huge SOW’s maybe over they feel restricted in providing solutions because they don’t have the dollars to conduct substantial testing and research. Most said pharma mangers are relying on their expertise more and more, but that it was hard to manage as some people have to hand held to get from point A to point B.