Pharmaceutical Executive Digest Europe - February 25, 2009 - (Page 12) Digital Marketing Because of the respondents’ wide range of job titles and responsibilities, the survey findings were segmented into four basic categories: 1. Executives: Presidents, CEOs and other C-level titles that have authority over marketing and sales 2. Marketing: EVPs, vice presidents, directors and managers of marketing organisations 3. Sales: EVPs, vice presidents, directors and managers of sales organisations 4. Support: People who do not have direct authority over sales and marketing but may support one or both, including directors, managers of interactive and operations make it easier to measure ROI. Close to 50% cited regulatory issues as a top concern. Search engine marketing does the job. Not surprisingly, pharma marketers cite search engine marketing, webinars and organic search as their most effective digital vehicles. Least effective are blogs and virtual networks. Interestingly, social networks, considered promising within the industry, were also on the low side of effectiveness. The digital revolution has yet to hit. While companies do use digital marketing channels, half of the respondents spend 10% or less of their budget on digital. The majority of pharma marketers (57%) are spending the most on what they are familiar with, mainly their own websites. Relatively few (10%) are spending toward Web 2.0 vehicles such as blogs, social networks and video. CEOs have most influence on strategies. Digital marketing influence appears to come from the top down: next to business line/country managers, CEOs have the most influence on digital marketing strategies. Surprisingly, finance, which controls the purse strings, ranks below IT in influence. Don’t wait, integrate Pharma’s reluctance to deploy Web 2.0 tools is rooted in a lack of familiarity and a perceived inability to measure ROI. The fact that pharmaceutical marketers are not even experimenting with these tools will hamper efforts to fully integrate digital marketing within the organisation. As it is now, they are missing opportunities to fully engage consumers and boost compliance. There is a silver lining, however. Pharmaceutical marketers plan to fully integrate digital marketing in their strategies. Digital marketing spend is expected to rise, and digital has at least ‘some influence’ in hiring, as organisations move more toward its adoption. The bottom line: Pharma companies risk falling behind unless they recognise the need to utilise digital marketing platform tools to effectively reach their audiences. For more information on the ‘Digital Marketing in Pharma’ study, further interpretation of the results and case studies pertaining to overcoming sales and marketing challenges, contact David Johnson, vice president, MarketBridge, at djohnson@market-bridge.com Key findings While the industry lacks the understanding, organisation and experience to measure digital marketing returns, it’s slowly moving forward with implementation. Following is what the survey revealed. Execs lack digital knowledge. When asked to rate their understanding of digital marketing, nearly 45% of respondents said they “need to know more.” Asked how prepared their companies are to plan and implement digital marketing strategies, only 12% said “well organised.” More than a third said they were “not very well organised.” Measure ROI more easily with the right tools. Respondents were equally concerned with their lack of experience with new digital marketing platforms and the inability to prove ROI with them — though many of the latest digital marketing tools and techniques actually Key finding: Overall effectiveness of the new media platforms that you have used (on a scale of 1 to 5, 5 being most effective) 5 Search engine marketing Webinars Search engine optimization Own web site Pay-per-click Email Video on demand Viral video Social networks Podcasts Online ads Second life Mobile messaging Wikis Blogs 22% 20% 19% 17% 16% 15% 11% 8% 7% 7% 4% 4% 3% 3% 1% 4 34% 32% 41% 30% 21% 26% 28% 20% 18% 19% 24% 0% 19% 8% 11% 3 31% 35% 24% 36% 32% 41% 39% 39% 42% 49% 36% 18% 43% 50% 37% 2 12% 11% 13% 16% 22% 16% 18% 22% 25% 19% 30% 43% 28% 20% 32% 1 1% 2% 3% 1% 9% 1% 4% 10% 7% 7% 5% 36% 36% 20% 20% Pharma is utilising more established and proven digital media platforms, as evidenced by SEM and SEO at the top. Webinars trump email effectiveness. 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.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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