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Trends in Pharma Marketing by Dr Augustine Fou
 

Trends in Pharma Marketing by Dr Augustine Fou

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pharma as an industry is quickly catching up in the shift of ad dollars to digital channels in search of greater efficiency and lower cost.

pharma as an industry is quickly catching up in the shift of ad dollars to digital channels in search of greater efficiency and lower cost.

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  • From the U.S. perspective, the stats are compelling…
  • From the U.S. perspective, the stats are compelling…
  • From the U.S. perspective, the stats are compelling…

Trends in Pharma Marketing by Dr Augustine Fou Trends in Pharma Marketing by Dr Augustine Fou Presentation Transcript

  • Trends in PharmaMarketing Dr. Augustine Fou http://www.linkedin.com/in/augustinefou October 23, 2012.
  • Pharma is “dead last” High technology Banking Insurange Travel/Hospitality Telecom Retail Consumer Goods Utilities Manufacturing Pharmaceuticals Source: Cap Gemeni Consulting, Nov 2012October 23, 2012 2
  • Physicians are digital too 99% physicians are online Internet is essential to practice Source: Manhattan Research 2011-3- Augustine Fou
  • Physician Trends Most physicians report going to Google as their first destination online when looking for information – even if they are searching for articles (Google searches, PubMed) Sources: Manhattan Research ePharma Physician® v8 Forrester Research-4- Augustine Fou
  • Physician Trends WebMD Epocrates UpToDate Source: Manhattan Research 2011 Despite the prior concentration on a few sites, physicians are increasingly seeking objective information online and from peers.-5- Augustine Fou
  • Regulations? Lack of? Adverse Events Reporting Criteria • An identifiable patient • An identifiable person reporting the event • A suspect drug or biological product • An adverse experience or fatal outcome suspected to be due to the suspect drug or product (rule: must report within 72 hours) “Because it remains unclear whether and how to monitor and report AEs found in social media, some pharma companies are taking the conservative approach and not using these channels or even looking at them for customer insights.” – Dr. Augustine Fou-6- Augustine Fou
  • Other considerations • Patent cliff – an estimated $255 billion worth of branded drugs are coming off patent by 2015; brand marketing dollars are already being slashed • Patients are increasingly getting deeply involved in their own health management and tend to do deep research online about diseases or drugs-7- Augustine Fou
  • Continued shift to digital 51% of advertisers have between 0 – 30% of their budget allocated to digital 29% of advertisers have 31 – 70% of their budget in digital 21% of advertisers have 71 – 100% of their budgets allocated to digitalOctober 23, 2012 8
  • Shift within digital To performance-oriented tactics Source: IAB, PwC April 2011October 23, 2012 9
  • Further reading Search Marketing and Social Media in Regulated Industries - http://bit.ly/zCBLaY How to Do Social Marketing in Heavily Regulated Industries - http://bit.ly/oRRqcKOctober 23, 2012 10
  • Dr. Augustine Fou – Agency Czar “I advise many pharma clients on digital strategy and better integration across channels and tactics, using insights from digital to improve all marketing.” FORMER CHIEF DIGITAL OFFICER, HCG (OMNICOM) MCKINSEY CONSULTANT CLIENT SIDE / AGENCY SIDE EXPERIENCE PROFESSOR AND COLUMNIST ENTREPRENEUR / SMALL BUSINESS OWNER PHD MATERIALS SCIENCE (MIT 95) AT AGE 23 ClickZ Articles: http://www.clickz.com/author/1151/augustine-fou Slideshares: http://www.slideshare.net/augustinefou LinkedIn: http://www.linkedin.com/in/augustinefouOctober 23, 2012 11 acfou@mktsci.com