Influencer Marketing for Pharma - Does it Work and How to Set Up Campaigns for Success

Today’s consumers have more choices and information than ever. When they want to buy something, the amount of research they could do is overwhelming. How do they cut through the noise and make the decision-making process easier?

For most people, the solution is to pay attention to what trusted figures say over brand statements: one Nielsen report revealed that over 90% of consumers believe suggestions from friends and family more than advertising. What pharmaceutical companies have to say about their products doesn’t matter as much to consumers. Instead, they look to the authorities in their lives.

That doesn’t mean, though, that companies are helpless over their marketing strategy.

Research shows that 91% of consumers say reading positive reviews of a brand makes them more likely to use a business. As influencers become a trusted source of information, they provide an opportunity for pharma companies to tap into a trusted resource their target audience already knows and follows.

 

What is Influencer Marketing?

Influencer marketing leverages influencers' social media to give endorsement and product mentions of their brand. An “influencer” has a devoted social media following and is considered an authority in their niche.

Influencers have built their audience's trust, which makes them ideal for promoting brands and products relevant to them. It’s no surprise, then, that 89% of marketers say the ROI from their influencer campaigns is comparable to or better than other marketing channels.

 

Tips for a Successful Pharma Influencer Campaign

While influencer marketing can be an effective way to reach more of your target audience, not all campaigns are created equal. Some ways you can ensure the best possible marketing strategy include:

 

Find the Right Influencer

It takes the right influencer fit to find your target audience. Consider the size of the influencer’s followings, as well as target audience, when selecting one for your campaign.

Keep in mind that larger followings are not necessarily better when it comes to choosing an influencer size. Smaller influencers often get more engagement on their posts: influencers with less than 1000 followers have an average engagement rate of 7.2%. Those over 100,000, though, have around 1.1%. Also, companies can engage with multiple smaller influencers since they are more affordable than larger ones.

Furthermore, consider your target audience and marketing goals when choosing an influencer. If you want to reach patients directly, former patients, public figures, and mom influencers might be a better fit for your campaign because they are personable and relatable. However, if your target audience is healthcare professionals, medical society leaders, university professors, and health journal editors, provides the proper authority.

 

Focus on Engagement

Pushing an overly “sales-y” campaign will likely turn off both influencers and their followers. Influencers don’t want to lose face with their followers and risk future deals. Likewise, potential consumers are more likely to click “unfollow” than follow any links.

Instead, consider sharing experiences rather than directly promoting your product. The goal should be to gain a connection with your audience. Provide helpful tips and advice to make your pharmaceutical company a trustworthy source, rather than making shady sales.

 

Track KPIs

Like any marketing campaign, success should be measured and analyzed. What you decide to track will depend on the goals of your campaign. If you’re looking for brand awareness, for example, tracking sales may not be as effective.

Some KPIs to consider include:

• Engagement. How many reactions, shares, comments, link clicks, views, etc., did the posts get?
• Conversions. Did the audience take action?
• Reach and Awareness. Did impression data improve after the campaign?
• Awareness Growth. How has your social media grown since the campaign started?
• Referral Traffic. Are more people looking at your website?

 

Gain Trust and Authority with Influencer Marketing

The ways that consumers purchase products and engage with brands have changed. Influencer marketing embraces these changes to acquire recommendations from trusted authorities on social media.

 

Stay up-to-date with pharma marketing and other medical topics by bookmarking the Elsevier blog and market intelligence resources.

 

Article Written by: Alex Brown