Companies all across the board are struggling to make sense of online ROI, especially those in industries like Bio-Pharma where most of the transactions take place offline, (now a day’s online pharmacy grab 20% market share for prescription and non prescription lifestyle and over the counter medication), but advancing analytics technology will provide marketers with a clearer link between digital strategies overall should help marketers to more efficiently reach a critical mass of healthcare consumers of better target those within a specific condition group. As Bio-Pharma companies become more comfortable with new media, they will be better able to leverage its power to enable cost effective marketing strategies.So if online digital media is poised to increase its role in Bio-Pharma marketing, what are some of the key points that marketers need to know to stay ahead of the curve today?
In light of where Bio-Pharma marketing has come today and where it’s heading in the near future-it's critical for brand teams to be educated in the latest trends and best practices in new online media and digital marketing. Of course agency partners are valuable for providing expertise and tactical execution, but in Bio-Pharma marketers don't have a solid grasp on the wide breadth of digital strategies available to them, they may be missing out on channels that are most relevant to their particular audience.
Once marketer understands their target audience's media preferences, the ball is in their court to use the knowledge to form brand strategies and campaigns. Market analyst and agency partners can guide brand teams on how to best use new channels to communicate with target audience in a relevant and authentic way.