May 14, 2018 Source: drugdu 263
In 2010, around 130 brands like Zoloft and Lipitor constituted for 34% of the universal pharma sector sales. Following the same year, many other drug companies hewed from the permit. The sector has changed in countless ways. Below are a few ways pharma and healthcare companies have moved their strategies.
The end of TV ads
Since 2012, there has been a 62% increase on TV ads spent in the pharma sector. For healthcare promoters and in other similar categories, linear TV has always been the most productive mass marketing channel. However, TV ads aren’t personalized and this trend is unlikely to last. In 2017, pharma promoters will have spent over $2.2 billion on digital advertising, up from $1.4 billion in 2014. Digital is a better locus than TV for marketing drugs to smaller segments as it offers much more contact-point data to advertisers and more personalization.
Push or Pull?
Previously pharma companies focused on a large group of people with the same general health issue, like heart diseases or high blood pressure. But, now that promoters have shifted their focus to developing and marketing new drugs for smaller segments, brands have started to grip strategies which are targeted and individually tailored. According to Google research, McKinsey & Co., and the Wharton School of the University of Pennsylvania, 59% of consumers expect the same one-to-one experience from health providers that they get from businesses such as Amazon.
Niches Market is King
More and more brand campaigns are focused on condition-specific, which is changing the types of media inventory being utilized. Medical brands are focusing less on mass-market websites as these sites are basically the online equivalent to TV. Marketers are becoming more interested in looking out for inventory and publishers focused on specific audiences.
Finding your specific audience, the ‘longtail’, is becoming much more relevant and a much better road to success.By Ddu
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