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Crafting a Winning Strategy for Digital Marketing in Pharmaceutical Industry

Pharmaceutical industry has been slower than some other industries to fully realize the potential of digital marketing. However, it is now slowly realizing the importance of digital marketing strategies and the potential that digital marketing has. Also, companies with better know-how in digital marketing and new startups are disrupting the pharmaceutical industry and this forces companies to act.

How can pharmaceutical companies utilize digital marketing?

They can use various platforms and technologies to promote their products. Sometimes it is possible to target particular audiences very precisely, instead of billboards or using other forms of mass media advertising. 

Often pharmaceutical companies are few steps behind when compared to other industries in customer experience. To better serve their customers they need to be where their customers are.

Why should every pharmaceutical company act now?

Customers’ needs are changing. Companies need to change too so that they can serve them better. Or in the worst case lack of digital marketing might turn out to be the demise of a company. 

Some customers also like to use new channels to buy their products and learn about their ailments and compare different treatments and medicines. For some companies there might even be a case of changing the way they operate and distribute their products by selling them directly to consumers instead of using pharmacies as a distribution channel. 

As long as companies are not utilizing opportunities provided by digital marketing they run the risk of spending their marketing budget inefficiently and missing out on new opportunities.

What are the key components of digital marketing strategy?

Not only is there possibly a new distribution channel available, but there is a lot more.

SEO

With help of an effective SEO company can improve their presence in organic search results. Organic search is still very popular as consumers use search engines to find information and do research.

Social Media

There are several platforms that can be used, but with social media it is important to understand the rules and regulations and limitations when it comes to promoting pharmaceutical products. For market research purposes social media can be an effective tool to use to find out what consumers think about your products or services.

E-commerce

The growth of pharma in e-commerce has been slow until now, but according to some forecasts growth rate will be close to 20% yearly and value of the market will increase significantly in the near future.

Content

Depending what company does there might be a need for b to c and b to b content strategy. Or one strategy for healthcare professionals and another for the general public. Research acts a big part in the industry so it makes sense to have quality content for readers to learn about products and services.

Paid media

Native articles might work well and reach desired audiences when carefully planned and published on the appropriate mediums such as medical publications. Or if targeting larger audiences some newspapers might also be good options for paid articles.

Existing customers and marketing automation

Customer lifetime value is very important and to serve customers better, a good CRM(customer relationship management system) goes a long way.