|118 Charts and Diagrams|
Digital channels have become an increasingly significant portion of biopharmaceutical and medical device companies’ media mixes. But developing digital initiatives that set companies apart and remain relevant to healthcare audiences’ needs is a challenge. This study provides best practices for integrating strong, customer-focused content into a multichannel marketing strategy.
The report’s five chapters will help drug and device companies reinforce their digital marketing strategies. In-depth benchmarks explore companies’ marketing objectives, structures, budgets and marketing media mixes — including the extent to which companies use mobile applications and social media. Findings provide insight into companies’ evolving return on investment (ROI) strategies — including, specifically, the use of hard and soft metrics to showcase the potential value of new digital channels.
Cutting Edge Information collected and analyzed data from executives from more than 45 pharmaceutical, biotechnology, and medical device companies, as well as digital marketing experts. The report includes detailed case studies of personalized strategies for social and mobile media. Furthermore, an entire chapter is dedicated to solving a top challenge for many marketing teams: calculating return on investment and return on engagement (ROE) for digital marketing campaigns.
With this report, digital marketing executives will understand how top life science companies:
Measure and Demonstrate ROI for Digital Campaigns: The landscape for pharmaceutical digital marketing is changing rapidly. But some companies still lag behind the curve when it comes to utilizing this powerful communication channel. Often, the inability to demonstrate return on investment prevents companies from pursuing more robust digital marketing strategies. This study aims to solve that challenge for pharmaceutical executives with detailed benchmarks and analysis on ROI and ROE. The report examines the groups involved and the timelines necessary for companies to collect data and analyze initiatives' ROI. It also includes best practices for combining formal ROI and ROE studies to connect return of digital marketing initiatives to increased sales and achieve stakeholder buy-in.
Anticipate Consumer Needs and Reach Them Through Digital Channels: In this day and age, virtually no one is without a cell phone nearby. Drug and device companies are investing frequently in mobile apps and social media channels to tap into our increasingly digital environment. Surveyed companies are using social media target patients. Furthermore, 80% of companies use mobile applications to target physicians. Stay ahead of the curve with the strategic recommendations and insights contained in this report. They will help you navigate current and future social media marketing and mobile application trends.
Establish a Balanced Marketing Media Mix that Incorporates Digital Channels: Among surveyed companies, some differences on how to focus a digital marketing strategy emerged. The analysis in this report will guide marketing teams in their understanding of how significant a role digital channels should play in the overall media mix. The report includes benchmarks for companies’ annual media mixes from 2012 through 2014. The data show growth in digital channels — such as social media and mobile apps — in companies' media mixes since last year.
23 charts detailing dedicated digital marketing budget levels, distribution of digital marketing responsibility and outsourced activities. Throughout this chapter, data are broken down by company type (Top 50, Top 20, small pharma and device) and by team type (corporate and brand teams).
40 charts detailing digital marketing structures, age of dedicated marketing groups and staffing benchmarks. Throughout this chapter, data are broken down by company type (Top 20/affiliate, Top 50 and small pharma) and by team type (brand and corporate level).
Brand and corporate team digital marketing staffing
Number of total FTEs/technical developer/community manager used per:
Five (5) Team Staffing Profiles
11 charts detailing marketing mixes and percentage change in marketing mix from 2012 to 2014. Data are broken down by geography (US versus non-US), company (Top 20/affiliate, Top 50, small) and team (brand, corporate).
37 charts detailing age of social media/mobile strategy, target audiences, primary objectives, percentage using social media and mobile platforms and mobile apps for patients/physicians. Throughout this chapter, data are broken down by company type (Top 20, Top 50, small, device) by team type (brand and corporate level) and by therapeutic area.
Number of Initiatives, by therapeutic area, on the following platforms:
13 charts detailing efforts to collect, measure and evaluate digital marketing ROI and ROE.
Individual Company Process Diagrams
The following is a key finding from the report’s Executive Summary:
Conducting market research — both formally and informally — helps dedicated teams as they develop their marketing initiatives. First, additional research helps companies focus on the marketing channels their target healthcare audiences use most often.
Second, these studies often represent a cost-effective way for companies to gauge consumers’ priorities and to design their initiatives in-line with consumer needs and expectations.
In the experience of Company E, formal studies range from $20,000 to $35,000 depending on the study’s duration and number of participants. These market research studies may provide additional insight for companies that have not yet identified their platforms’ most beneficial demographics. In these studies, companies may develop surveys that track general consumers’ needs within specific therapeutic areas before filtering responses to reflect a core market. Alternately, market research may support companies that already know their target audiences. This research could provide additional insight into consumer behaviors, including preferred communication channels. For example, consulting agency Company E’s recent market research study demonstrated that its client’s healthcare audiences were more apt to use mobile applications than social media platforms.
Companies less inclined to conduct formal studies may benefit from building relationships with third parties, including patient advocacy groups. In several interviewed executives’ experiences, these organizations provide additional insight for companies looking to develop content-driven platforms using both traditional and nontraditional digital channels. Because patient advocacy groups focus on the patient perspective, these groups are often more familiar with patients’ goals and treatment expectations. Therefore, companies that build relationships with these groups may benefit both from their current expertise and past market research findings.
As an example, a consultant at Company E assisted her client with the design and development of one of its digital platforms. The consultant was able to work with several therapeutic area-focused groups that helped her team develop content relevant to consumers’ interests. The combined expertise of patient advocacy groups and its team enabled Company E to develop additional digitized infographics alongside other digital tactics. This content complemented the client’s existing unbranded website. In the future, this consultant also cites plans to work with advocacy groups when developing social media platforms for its clients.