Spreading the word: Introducing HCPs to a new product

Bringing a new drug to market is a massive undertaking. Most products take 10 or more years to develop and test, costing an average of $2.558 billion per drug, according to a report from Tufts Center for the Study of Drug Development.

With so much riding on a single product, pharma marketers shoulder a lot of responsibility. Spreading awareness of a new product to an audience of physicians requires careful strategizing and access to unique content channels.

Identifying your product's payer value

Though it may seem counterintuitive to focus on payer expectations when targeting physician buyers, the two audiences really go hand-in-hand. The clinical messaging you leverage to explain your product's value proposition to a physician audience establishes the groundwork for a strong payer value message. In the pharmaceutical industry, companies not only need to describe how their products impact patient health, but also how they will integrate into the provider's organization.

For instance, a company selling asthma medication may face a crowded market as it launches the new product. By creating a value message for HCPs, the company can pivot into payer messaging. Jackie DeAngelis, a managing director at Precision for Value, writing for PharmExec, suggested that companies should seek to create messaging that supports drug use cases and explains how the product will help physicians manage their patient population.

In other words, pharma marketers should develop payer value propositions that combine effective marketing collateral with their pricing and contracting data. Leveraged alongside clinical data, this holistic approach to pharma marketing targets each key persona.

Pharma manufacturers should develop value propositions that speak to physician needs.

Understanding how physicians consume content

Physicians are busy, so getting them interested in a new product will require a marketing approach that is integrated into their daily workflow. Throughout a workday, physicians may consume content in a number of ways, from reading the latest studies in peer-reviewed journals to diving into technical documents via an electronic health records platform.

Some of this content lives online while some of it is more readily accessible via a print format. That means pharma marketers need to leverage a multi-channel approach when they want to reach a broad physician readership. In fact, a 2017 report from Kantar Media showed that 59 percent of physicians read both print and digital editions of current medical journals, while 97 percent read publications in one format or the other. Plus, 85 percent of oncologists report using the internet at least once a day for professional purposes.

When bringing a new product to the market, drug makers need two things, primarily: a value proposition written in clear language and a strategy for getting that message in front of as many relevant readers as possible. To accomplish those goals, marketers first need a thorough understanding of provider needs, and then a roadmap for spreading the word.

Finding unique ways to reach a targeted audience

In addition to ads in print journals, pharma marketers have number of options for getting their message across to a busy physician audience. For instance, FiercePharma reported that some drug manufacturers have begun to experiment with messaging within EHR systems. According to the source, one integrated solution notified physicians regarding an obesity treatment plan at point of care, reaching over 50,000 physicians.

Looking for ways to provide value with marketing content is another innovative way to reach HCPs. For example, advertising patient services could get more physicians interested in a new product.

Appealing to a targeted physician audience is complicated. If your brand wants to increase its reach, find out how our Pharma and Life Sciences Solutions team can help you reach specialty audiences.