Note – Your ultimate goal is to create your brand’s image and revenue through digital marketing. The following mistakes can diminish that and inversely cause damage and losses.
1. Promoting Products before the MLR reviews–
Jumping the Gun
Industries with high legal liabilities such as Live Sciences, Medical, Pharma, Insurance, etc need to be indisputable when their product launches into the market.
Promoting a product that is still under review is an expensive wager, especially if the approval does not go through or there is a recall in its early or later stages.
The companies not only suffer huge monetary losses but also damages to their brand value and image.
The Pharma industry suffers more because it is directly interrelated with life and death conditions.
Another major blunder is promoting products that need constant updates and approvals throughout its life cycle. Especially the ones that are under the PMR’s radar.
2. Partnering with the unqualified Digital Marketing Companies
Your Digital marketing team or company should be well versed with the subject on Pharma Compliance, Legal issues, Review Committee expectations, Product life cycle (invention, creation, testing, deployment, etc.) and also should be dynamic and spontaneous to sudden changes in product and policy changes.
If there are any changes to the product at any given time, marketing messages and label description should change to bring them in line with the new regulatory requirements.
Failing to do so may lead to product recall and other complications that will directly affect revenues and resources.
3. No Digital Presence of the Pharma Company
When you start a Pharma digital marketing campaign and reach out to potential clients, the first thing the consumers would do is check your online presence and its worth. This creates a huge vacuum and multiple challenges in your pharmaceutical marketing efforts.
Recheck the facts above. There is one thing common among them.
Every Pharma stakeholder is online and actively searching for solutions that can make a difference in their workflow and their patients.
Creating a communication cycle between your pharmaceutical company, stakeholders, and consumers are the first stage.
Aligning them to seamlessly connect and personalize at each point is the next.
The Solutions to the Pharmaceutical Marketing Industry
The solutions lay in creating meaningful roadmaps through the Pharma Company’s Digital Marketing journey.
To get insights into the pharma digital marketing process management developed and managed by Large Pharmaceutical Companies, attend the Re:Imagine Pharma Marketing Event.
You will get answers to business-critical and impacting queries such as:
- What will be our indicators and measurements of value moving forward?
- What are the content consumption habits/behaviors of HCPs now?
- How can I de-risk from the supply chain to product development to commercial activity?
- How can I diversify our clinical trial recruitment and innovation?
- Does reimbursement need to be integrated with innovation?
- How can I effectively virtualize customer engagement, branding, and product launches?
- What is the right promotional mix, even if/when the sales force can return?
- To what extent are the different stakeholder activities changing/overlapping as business needs evolve?
Once the queries are resolved, you would be able to judge and decide the next course of action for successfully implementing your pharmaceutical marketing campaigns.
- Amplify digital at a critical time – identifying what the triggers for ‘must-do’ changes, and assessing if these are these connected to true long
- lasting digital transformation
- Examining COVID forced acceptance of Omnichannel marketing importance: where do CX and MCM groups need to channel their energy and what
- elements to prioritize to deliver a consistent experience of your brand
- Analyze content consumption habits and behaviors of HCPs to develop your content and engagement strategy
- Scaling video content – keeping the authenticity; examples of good stories that make for great content and pull the story forward to capture
- Quantify the right promotional mix to select the right channel for the corresponding campaign
- Optimize your patient journey and adherence as a marketing aid – how ‘how to’ and ‘why’ build as patients continue to increase levels of expectation on access and reach
- Build a successful performance measurement framework to better interpret your data and understand your goals within the analytics
- Minimize data noise and digital health errors through smart use of data analytics and combining data sources
- Reimbursement: relocating reimbursement as part of the innovation process – understand the value proposition of tech and quantify the
- willingness to pay
- Evaluate if we have seen the promise of AI come to fruition in this current period of turbulence. Has it done the job that we thought it would?
- Develop a methodology of how to split personal and non-personal promotion
If you are employed by a Pharmaceutical, Biotech or Medical Device company, learn more about receiving a complimentary attendee pass here.
To learn more Register to the Re:Imagine Pharma Marketing happening November 9-11, 2020. Register today!