Pharmaceutical Executive Digest Europe - February 25, 2009 - (Page 11) Master Your Digital Marketing David Johnson reports on an exclusive Pharm Exec survey detailing how pharma can make virtual channels into effective marketing vehicles. A cross industries, marketers are recognising the power of digital marketing to establish real-time relationships with new and current customers, while maintaining the ability to track and analyse customer touches and adjust accordingly. Looking at the digital landscape from a media-spend perspective, total internet ad spend ($21.2 billion/ 16.75 billion) in the US in 2007 was up 26% from the year before, according to the Internet Advertising Board. A similar increase is expected for 2008’s figures But it’s not just about internet advertising. Smart marketers in B2C and B2B are utilising a variety of digital channels — Web 2.0 tools such as blogs, wikis, social networks and video — to engage with customers and create thriving relationships. So, what separates these marketers from others who may be experimenting with new media strategies? The answer is channel integration. Integration of these channels with traditional outlets such as TV, radio, direct mail and direct sales, coupled with rigorous analysis, allows marketers to understand the consumption patterns of their content. This gives them the information to adjust their marketing mix, pushing spend toward channels that work, and pulling dollars from channels that don’t work. Going digital The pharmaceutical industry is facing formidable challenges. From influencing physicians to educating consumers to overseeing relationships with managed care organisations, pharma has unique market dynamics that make the go-tomarket model far more complicated than a traditional push/pull paradigm. Interwoven with this complexity is the challenge of determining what actually drives prescription volume, and how to drive growth with increasingly tight budgets and new regulations amid high-risk product launches. While other industries are beginning to take a multichannel marketing approach, pharma still prefers a ‘feet on the street’ sales rep model. Top pharmaceutical companies are now experimenting with Web 2.0 strategies, but they have yet to put the pieces together to enable digital marketing outcomes to permeate their organisations. To find out just how far pharma marketers have come in implementing Web 2.0 strategies — and how far industry has to go — in 2008 MarketBridge and Pharmaceutical Executive magazine fielded ‘Digital Marketing in Pharma,’ a groundbreaking survey designed to shed light on the prevalence and effectiveness of digital marketing tools and techniques. Details and demographics The following research was distributed primarily among Pharmaceutical Executive’s subscribers and MarketBridge’s Life Sciences Practice database. A total of 220 people completed the survey, answering questions on digital marketing and budgeting, usage of digital marketing channels, analytics, resources, and attitudes and beliefs. Key finding: Manufacturers concerns in adopting digital marketing tactics; experience, ROI measurement top list 51% 51% 46% 18% 12% 8% Lack of experience with new platforms Inability to prove ROI Regulatory issues Senior management pushback Loss of brand control Other Total percentages reflect respondents’ top answers 1 9 NEWS BIOFUTURES 2 11 FROM THE EDITOR / NEWS DIGITAL MARKETING 6 CALENDAR 7 JACKY LAW 13 ON THE MOVE SUBSCRIBE TO PHARM EXEC http://www.iab.net/ http://www.iab.net/ http://www.market-bridge.com/ http://www.pharmexeceurope.com/europharmexec/newsletter/subscribeNewsletter.jsp
Table of Contents Feed for the Digital Edition of Pharmaceutical Executive Digest Europe - February 25, 2009 Pharmaceutical Executive Digest Europe - February 25, 2009 Contents From the Editor News Calendar Critical Vision Biofutures Digital Marketing On the Move Pharmaceutical Executive Digest Europe - February 25, 2009 Pharmaceutical Executive Digest Europe - February 25, 2009 - Contents (Page 1) Pharmaceutical Executive Digest Europe - February 25, 2009 - News (Page 2) Pharmaceutical Executive Digest Europe - February 25, 2009 - News (Page 3) Pharmaceutical Executive Digest Europe - February 25, 2009 - News (Page 4) Pharmaceutical Executive Digest Europe - February 25, 2009 - News (Page 5) Pharmaceutical Executive Digest Europe - February 25, 2009 - Calendar (Page 6) Pharmaceutical Executive Digest Europe - February 25, 2009 - Critical Vision (Page 7) Pharmaceutical Executive Digest Europe - February 25, 2009 - Critical Vision (Page 8) Pharmaceutical Executive Digest Europe - February 25, 2009 - Biofutures (Page 9) Pharmaceutical Executive Digest Europe - February 25, 2009 - Biofutures (Page 10) Pharmaceutical Executive Digest Europe - February 25, 2009 - Digital Marketing (Page 11) Pharmaceutical Executive Digest Europe - February 25, 2009 - Digital Marketing (Page 12) Pharmaceutical Executive Digest Europe - February 25, 2009 - On the Move (Page 13)
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