A recent Forbes article paints a picture of the pharma industry as being slow to jump on the social media bandwagon because of regulatory risks and uncertainties. Citing the IMS Social Media Engagement Index, Ed Silverman notes that the industry “ranks poorly in terms of reach, relevance and interaction” regarding its social media initiatives. However, the industry is making strides in its current efforts to support small patient communities struggling with their disease states. Continue reading
Digital marketing is not the new kid on the block — not even in pharma. It hasnt been for a while. But many companies still lag behind when it comes to understanding the tools required for it and how best to target the demographics that are most reachable online. Optimized pharmaceutical digital marketing strategies must therefore involve not only experienced marketers, but also younger, fresher marketing minds with expertise in the digital world. However, at the same time, pharma companies should ensure that they leverage both sides of the digital marketing coin correctly to get the most out of their employees. Continue reading
Target segmentation is a key marketing tool across all industries — from pharmaceuticals to software to food. When commercial groups reach out to the community, it pays to be specific. Even the smallest companies tailor their commercial messages to different groups based on geography, location and a number of other factors. Continue reading
The window between Phase 3 and six months after drug product launch marks a pivotal time for pharmaceutical and biotechnology companies’ commercial efforts. As products move through the pipeline, companies shift from market preparatory activities — such as medical and scientific communications — to heavy commercial activities — such as advertising and promotional campaigns. Drug and device companies are now getting an earlier jump on initial commercialization activities — targeting strategic communications with key audiences, such as healthcare providers, payers and consumers, well before product launch. Continue reading
Though no two pharmaceutical brands’ commercialization strategies are exactly the same, the majority of companies follow similar launch spending patterns when launching new products. As brands move from early Phase 3 to approval and eventually launch, commercialization spending quickly shifts from market prep activities to advertising and promotion expenditures.
Our recent in-depth study of 15 pharmaceutical brands showed the degree to which decision support spending Continue reading
Our recent survey of pharma companies revealed that 58 percent have dedicated digital marketing groups. I think it’s safe to assume at this point that the digital revolution is real and is only going to continue to wield enormous influence over the way in which companies conduct business, particularly marketing’s ability to communicate with physicians, patients and other stakeholders. In the coming decade, Continue reading
In an earlier blog post, I discussed the cost of non-adherent patients — poorer health outcomes for patients and billions of dollars in lost product revenue. Low adherence rates have been a problem for a long time, plaguing not only the industry that develops products but also patients themselves, who do not realize the dangers of partial treatment. As companies seek to realize their products’ full potential usage and revenue, they are increasingly forming dedicated Adherence Teams to better understand why patients are non-compliant.
Reasons for non-adherent patients vary from simple forgetfulness to more complex social and financial issues. Continue reading
Drug companies are increasingly building centralized Patient Adherence teams, as revealed in our latest study on patient adherence. This is a recent development, with most companies reaching the decision to create more centralized and dedicated adherence teams in the last 1-3 years. Continue reading
The Research team is right in the middle of our new study of patient adherence and compliance, and we’ve now interviewed executives from a variety of companies in the life sciences industry about their patient adherence groups’ reporting structures and organizational charts. Over half of all companies surveyed report having a dedicated team; the rest use staff on an ad-hoc basis. While no two companies have exactly the same structure due to different needs and resources available, several trends have emerged. Continue reading
Pharmaceutical companies are looking to emerging markets to stimulate sales growth, especially in brands that have seen profits rapidly decelerate in established markets. But great success often comes with great struggles; and it certainly doesn’t happen overnight. Emerging markets introduce new challenges to pharmaceutical and biotechnology companies, such as cultural differences, language barriers, pricing considerations and manufacturing issues, among other issues. None, though, may be as frustrating as protecting intellectual property in other countries. Continue reading