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Evolving Pharmaceutical Marketing Strategies: Digital as a Key Component of Multichannel Marketing

Evolving Pharmaceutical Marketing Strategies: Digital as a Key Component of Multichannel Marketing

  • January 2017
  • 63 pages
  • ID: 4743096
  • Format: PDF
  • GlobalData

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Evolving Pharmaceutical Marketing Strategies: Digital as a Key Component of Multichannel Marketing
Summary
Multichannel marketing (MCM) refers to the integration of various marketing channels into an overall synergetic strategy. Utilization of information from all the channels in a feedback loop is termed closed-loop marketing (CLM). While they require co-ordination, effective MCM and CLM can boost growth and reduce costs.

While the pharmaceutical industry readily adopts new technologies to provide medical advancements, it has been much slower to adopt technology within its marketing efforts, mostly relying on traditional channels and methods. However, the decreasing effectiveness of these traditional channels, given changing physician, patient and consumer trends in today’s increasingly digital society, is forcing an evolution of pharmaceutical marketing strategies.

The pharmaceutical field has always experimented with and adopted technology to provide medical advancements, leading to robotic surgery systems, gene therapies, stem cell treatments, next-generation synthetic limbs and cameras that can be swallowed. However, it has been much slower to adopt new technologies in its marketing efforts, mostly relying on traditional channels and methods (Niemi, 2015).

Certain digital channels and marketing methods have traditionally been perceived as too risky by pharma marketers, such as social media, Big Data for personalized targeting, and programmatic advertising. However, effective implementation of digital marketing, in conjunction with traditional channels in an integrated multichannel marketing strategy, has the ability to expand marketing reach, increase audience engagement, provide higher return on investment (ROI) and improve methods of tracking ROI for pharmaceutical companies.

The report “Evolving Pharmaceutical Marketing Strategies: Digital as a Key Component of Multichannel Marketing” an overview of the various marketing channels available to pharma, and examines the factors driving change within this field.

In particular, it provides the following analysis -
- Analyzes how a wide range of digital marketing methods can be effectively integrated into a synergistic multichannel marketing strategy that allows both traditional and newer channels to complement each other.
- Helps to examine the changing pharma marketing landscape and the factors driving this change.
- Analysis of the main challenges and risks associated with digital marketing methods, in addition to potential solutions and approaches to overcoming them, is provided.
- Real-world case studies of marketing strategies and campaigns employed by pharma are also included.
- It examines how various new digital marketing strategies can be incorporated alongside traditional channels as part of an integrated multichannel marketing strategy.
- Explores potential challenges and risks associated with new channels and marketing methods, as well as providing potential solutions and approaches to overcoming these.

Scope
- What are the different marketing channels available to pharma?
- What factors are driving change in the traditional pharma marketing strategy?
- What is a multichannel marketing strategy? What are the benefits, and how can they be implemented effectively?
- What are the different digital marketing strategies that pharma can utilize in order to keep pace with changing needs, and maintain ROI? How can these be implemented effectively?
- What are the main challenges and risks associated with digital marketing methods, and what are some potential solutions and approaches to overcoming these?
- What digital marketing strategies and campaigns have been employed by pharma in recent years?
- What are the key strategic recommendations and guidelines for digital marketing as part of an integrated multichannel marketing strategy?

Key Reasons to Purchase
- Understand how and why pharmaceutical marketing is evolving
- Gain insights into various digital marketing strategies, their benefits and key features, and recommendations on how to effectively implement them
- Assess examples of approaches taken by other companies in the field
- Understand the challenges and risks involved in pharma digital marketing, and ways in which you can plan for these challenges and minimize risks

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