How to start an engaging conversation through pharma ads

In the highly regulated medical space, pharmaceutical manufacturers need to start engaging their various customers via marketing conversations as early as possible to secure buy-in from organizational stakeholders. However, overcoming barriers to communication can be a challenge. Addressing the needs and concerns of a diverse group of stakeholders requires a multichannel approach with targeted messaging.

Fewer independent physicians

Since 2000, the number of independent physicians in the U.S. has dropped significantly. According to Becker's Hospital Review, 57 percent of practicing physicians belonged to an independent office at the turn of the Millennium. Today, the American Medical Association estimates that only 47 percent of physicians own their own practice.

This shifting paradigm directly impacts the way pharmaceutical manufacturers market their products to the physician community. Though physicians are still involved in buying decisions, they may not be the only stakeholders in these types of transactions. More often than not, pharma representatives will work with executive stakeholders throughout the buying process.

Understanding this diverse audience is one of the first steps in developing a marketing campaign that speaks to stakeholder needs. At large health groups, more stakeholders get to voice their opinions on the products the organization deploys. Not only must pharma reps extol the virtues of their products for patients, but also the products' financial benefits. In a tumultuous regulatory environment, these organizations may be working with thin profit margins and leaking revenue cycles. The more pharma can do to provide relief in these areas, the better positioned it will be to make effective sales.

A multichannel approach to advertising ensures that all stakeholders see the type of messaging that most appeals to their needs.

Pharma reps must address the concerns of a diverse group of stakeholders.

Looking for product champions

In an environment where doctors are not the sole purchasing decision makers, pharma reps have to address a wider audience, but this does not mean that physicians are no longer part of the buying conversation. Indeed, physicians can be champions of medical products they believe will provide real value to patients.

At the end of the day, physicians want access to drugs they believe will have a positive impact on patient health. As the industry moves away from a fee-for-service model to a value-based model, this point becomes increasingly important. Physician groups with a high percentage of Medicare patients are specifically incentivized to reduce the rate at which patients are unexpectedly readmitted to the hospital. Pharma can aid physicians who are attempting to reach this goal by providing key insights into drug efficacy and best practices. By doing so, physicians can become champions for the products they truly believe in.

Igniting the conversation

New pharmaceutical products take a long time to bring to market. In fact, Pharmaceutical Research and Manufacturers of America reported that it takes six to seven years on average to complete the clinical trial phase. Adding a lengthy buying cycle to that means manufacturers could wait over a decade before they see a positive return on their investment. By starting conversations with physicians and other organizational stakeholders earlier, pharma reps can speed up the buying process.

To start these discussions, pharma must be able to reach physicians on their own turf. However, this task isn't as easy as it once was. Research from consulting firm ZS revealed that 53 percent of physicians restrict visits from pharma sales reps.

Therefore, pharma needs a better way to reach physicians. That's where advertisements in peer-reviewed journals come to the rescue. Placing informative ads in relevant medical periodicals gets messaging in front of these important stakeholders without breaching the no-visit policy.

To learn more about how to reach a targeted physician audience via a multi-channel approach, visit ELSMediaKits.com today.