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Pharma marketing trends to watch in 2019
In 2019, pharmaceutical marketers are likely to face an unprecedented challenge to reach healthcare providers. Fewer independent practitioners and crowded drug markets will continue to push marketers into new territory. The first step to optimize buyer engagement is identifying pharma marketing and advertising trends.
Supporting HCPs
Patient expectations for healthcare are evolving, with clinical research breakthroughs happening at a faster rate and more treatments becoming readily available. In fact, the Food and Drug Administration approved 59 novel treatments in 2018, compared to just 22 in 2016. As a result, pharma marketers will have to do more to support physician education regarding emerging therapies.
This trend is supported by Intouch Solutions, a marketing agency that has seen pharma stakeholders taking more time to consider the human side of pharma buyers. By taking a step back and looking at HCPs as emotional individuals, marketers can identify new ways to make deeper connections with buyers.
"Knowing and using behavioral economics to our advantage is still not being done well across the industry," noted Tina Iglesias, group director of strategic planning at Intouch.
To get a better understanding of HCPs as people - and not only as buyer personas - marketing stakeholders should consider the daily stress doctors experience. Physicians are not immune to the emotions that accompany a damaging diagnosis. In fact, FiercePharma reported that 42 percent of HCPs say they feel burnt out on the job, with 15 percent admitting that they are depressed.
Taking concrete actions to make the job easier for physicians is likely to become a significant trend in 2019. For example, pharma marketers can make tasks easier for HCPs by distilling clinical information down into digestible educational content. Likewise, supporting the patient experience with tailored video and web content could make it easier for clinicians and patients to get on the same page.
For instance, if a patient requires a unique treatment or therapy, a physician could direct him or her to a pharma-sponsored website that clearly defines the disease and treatment in an engaging, interactive context.
Pharma can support doctors who feel burnt out by supporting them with tailored educational content.Taking a page from retail
These days, customers expect more from the healthcare buying experience. Research from NTT Data found that 59 percent of healthcare customers in the U.S. believe that the industry should provide customer service on par with retail brands like Amazon.
One of the biggest recent innovations in the retail market has been the increased use of machine learning and artificial intelligence to shape interactions with buyers. Utilizing analytics and big data, retail giants like Amazon deliver tailored marketing experiences at the individual level. A similar strategy could be highly effective when attempting to reach physician buyers.
Tasks such as audience segmentation, customer engagement and sales messaging can be automated with machine learning algorithms, freeing stakeholders to work on more complex tasks, such as creating education content and tailored sales pitches.
Increasing interactions with buyers
The Physicians Foundation 2018 Physician Survey revealed that only 31.4 percent of respondents identify as independent practice owners or partners. Competition for physician attention has always been fierce, and it will be harder for pharma reps to speak with doctors face-to-face as they give up independent practice
Without immediate access to HCPs, pharma reps will likely have to take a more circuitous route to interact with doctors. When reps cannot get a meeting with physicians, they will have to engage this audience over a longer period of time using shorter interactions. Digital and traditional media will play an important role in reaching this goal.
According to a report from Econsultancy, 74 percent of pharma marketers believe that it will be very important to optimize the customer journey across multiple touch points. For instance, physicians might first interact with a brand via a display ad in a peer-reviewed journal. The next interaction may take place within an email or branded website. Then, interested readers might request additional information about a drug. Pharma stakeholders need to be prepared to interact with buyers across multiple channels.
To learn more about establishing an effective multichannel advertising strategy, connect with an Elsevier consultant today.