The rules of marketing in the pharmaceutical industry have evolved dramatically over the past few years. There are digital regulations on what you can and cannot advertise. While smart marketing tactics provide a competitive edge, penetrating into new markets and expanding reach to new customers require more than just a marketing plan.
Effective plan management must be within the organisation’s environment and competitive position. Moreover, it requires significant efforts to convey the right message on how these pharmaceutical products and services would serve practical applications to customers. This blog is a comprehensive guide for those looking to manage their pharmaceutical marketing efficiently.
Pharmaceutical Marketing Management
1. Characteristics of the Pharma Market
While almost every other industry has regulations, the pharma market has stiffer rules and administrative oversight. It involves decision-makers and complex payment systems, limiting product and service marketing. The Pharma industry is evolving rapidly with new drugs, therapies, equipment, and treatments. As a result, marketers need to be aware of these changing aspects. As patient preferences change, so do outsourcing, partnerships, and consolidations within the supply chain.
2. Market Research
The pharmaceutical market research is highly complex, typically due to the presence of different sub-markets. Thus, before devising a pharmaceutical company's marketing plan, marketers must conduct comprehensive research w.r.t market intelligence, SWOT analysis, surveys, data interpretation, and benchmarking within a systematic process.
3. Product Positioning
With the pharmaceutical market becoming intensely competitive, marketers must position products, services, or brands within the market with an aim to a positive response. Brand or product positioning indicates what the products stand for and how customers should perceive them compared to their competitors, categories, and segments.
4. Devising Marketing Message
Marketing communication plays the most critical role in pharma digital marketing. Communication focusing around or addressing the 7Ps (Product, Promotion, Price, Place, People, Process, and Physical Evidence) is often used by marketers to meet the needs and expectations of their customers. Considering all these factors, marketers can synthesise a curated communication to meet the minds of potential customers and witness positive results.
One idea of devising a compelling marketing message is to create a meaningful experience that connects with customers emotionally. For instance, if the campaign is for antidepressant or anxiety drugs, you should encourage the target audience to share their feelings through a mobile app campaign to drive more effective results. However, creating such experiences also needs a thorough understanding of the ethical marketing baseline so that you are respectful and responsible in your communication.
5. Engaging Physicians Through Online Communities
Physicians are often early adopters of technology, so they can be found in online communities where other professionals also gather. Using these channels makes it possible for companies to reach them directly—and sell products or services as a result. You can talk with doctors and patients to learn more about what they want from you.
6. Create Visual Aids for Physicians
By having an attractive educational poster for physicians to use in their offices, you will be able to present something of value. Potential customers will see the value in your products and services, and they'll be eager to do business with you.
7. Participating in Conferences and Events
Physicians are always seeking ways to improve their knowledge of the profession. You can reach them at a professional conference, where they attend lectures and meet other physicians in person. This gives you an opportunity for direct interaction with these professionals so that you can get feedback on your work.
Feedback helps you clarify your marketing message and tailor it to appeal more broadly to physicians. If your drug isn’t getting the attention that it deserves, consider looking at all of the various pharmaceutical marketing strategies which might help you.
8. Sales and Marketing Alignment
While the “marketing vs sales” battle is well-known, pharmaceutical marketing cannot exist and operate in isolation. It must work hand-in-hand with the sales department and representatives of the products of HCPs. Since pharmaceutical products are sold via pharmacies, hospitals, clinics, wholesalers, and other intermediaries, the marketing and sales alignment are unmissable. Effective pharmaceutical marketing management necessitates a fully aligned marketing and sales strategy to achieve the same commercial goals.
9. Control and Management
Control of the marketing plan refers to the analytical work that should be carried out daily or monthly. As a result, marketing executives can determine novel marketing tactics, tools, and management methods. Marketers must also evaluate the implementation of marketing strategies and adopt corrective actions to achieve the desired goals. Some basic parameters may include sales volume, profit margins, consumer response to new products, and other commercial activities. All in all, marketing control and management enable companies to determine the effectiveness of marketing opportunities.
Interested: B2B Pharma Marketing Tips
Final Thoughts
The pharma marketing strategies must keep up with consumer preferences, changing regulatory norms, and evolving industry scenarios. And this is true for both B2B and B2C pharmaceutical marketing services. Marketers must incorporate the above-mentioned aspects before devising a pharma marketing plan.
At Amura Marketing Technologies, we have collaborated with B2B and B2C pharmaceutical and healthcare brands to advance their business with different objectives. We are a leading performance marketing agency with a track record for successfully helping pharma brands like Cipla Health, Sun Pharma, Glenmark, and many more with their marketing goals. Learn more about pharm digital marketing services here.
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