The rise of Multichannel Marketing and Digital in Pharma: A Business Necessity (Part II)

Although pharma continues to struggle in this new complex terms, the access to physicians, markets and information is getting harder and all the related barriers increased and more difficult to fight with.

Pharmaceutical companies operating in the global marketplace are realizing that in order to derive their revenues should be able to deliver in a more systematic way innovation and critical business value, being also able to find and search new innovative business models that allows the company to have a better perspective in a larger competitive canvas.

As currently digital tools and technologies are strongly embedded at the core of almost all the sectors and industries, the future of marketing operations and commercial strategies looks more digital, connected and data-driven than ever before.

This data explosion phenomenon is bringing serious impacts on the way that enterprises understand their markets and environment in order to sharpen their competitive edge through the interpretation of all available data to create workable insights that inform and illuminate business strategy and direction.

In order to understand the clients value, the pharma companies needs to know exactly the economic value of the targeted physicians to the market, the prescription behavior profiles that each physician is evidencing, and the changing patterns of influence of all stakeholders groups and which are the stakeholders that most influence each physician’s prescription patterns.

MCM Agile Loop

Globally the pharmaceutical sector is indeed changing, where the reality is providing new insights to new patterns. Instead of large sets of medical knowledge and clinical data be dispersed without any kind of analysis, in today digital and information era, all the artificial intelligence and big data capabilities to process large set of data and produce intelligence reports, are already enabling doctors to better diagnose type of diseases of their patients with larger knowledge on the global patterns and trends, allowing as well the same doctors to increase all the professional knowledge with high-quality published medical information matching it against patients symptoms worldwide, having knowledge of global medical histories and tests results, and formulating better diagnosis and treatment plans with global reach through Telemedicine and other digital solutions.

Nowadays in this highly challenging business landscape for pharma, it’s vital to a company to embrace the change and accept the forced shift as a business strategy and adapt the business mindset and corporate culture to a new Multichannel Marketing (MCM) strategy and be willing to adopt constant changing to the established or newcomer digital ecosystem environment, avoiding an ambiguous strategy.

The company should adopt a “wider” vision and more platform-oriented to obtain a more zoom-out perspective of all the operating and emergent market and channels to accomplish new and non-traditional results.

Is also needed and in order to obtain clear targets, real benefits, effective promotional material and powerful literature new action plans for medical studies, publications and medical evidences to support events and marketing actions. The old fashion aggressive marketing activities that the sector operated is becoming part of old-line companies that typically don’t leave inertia behind in an agile and fast way.

From another angle, new transformed pharma companies, should be increase the coverage on new and current targeted customers, to use new channels so then can accelerate the uptake at launch, driving growth brands while selectively realizing substitution gains and cost-efficient ways to engage the customers with mature and new upcoming products.

Self-service has become more than ever a way of live in several industries, where once customers are shown how to use alternative channels, the usage tends to increase massively. The above trends should not only be focus of analysis by all the industries but especially by the pharmaceutical sector, where the changes are being constant and increasing day after day.

Also and in a global scale the physician is becoming more digital, spending more time being online than ever before. Not only to search for information or for education purposes, more than ever is recommending specific websites to their patients can search for specific pieces of information or simply to search new therapies or treatments. According to the last studies, the Internet is being a strong factor influencing the way of physicians prescribes today.

With this constant transforming pharmaceutical landscape, we are watching on a daily basis to new market complexities in order to create more profitable value creation strategies and new measure capabilities to the digital success of the new MCM models and new physician engagement strategies.

Thus some of the companies are adopting new commercial and marketing exploration strategies, such as focus group with HCPs, where the company can simply observe and discuss new relevant topics with HCPs to understand the pain points of specific customer groups and generate new ideas to innovative methods that the company can support in the future.

Clearly, in several cases a MCM program is the first step in the commercial and marketing transformation of a pharma company. However one of the biggest problems with these new adoption programs and implementations are the designed strategy of a MCM program, which for almost all the cases is conducted as one-off and single tactical perspective not having connection with global or regional Customer Centricity Programs or even worst with the CRM and Patient support Programs. Until today, just a very few of pharma companies are being able to overcome the silo-based approach to all the new commercial and marketing channels and under the same targeted customers (…)

To be continued

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One comment

  1. […] from the business critical needs, the design strategy for the MCM program might follow two different paths of execution. 1 – The first possible strategy path for the […]

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