EYE FORPHARMACONFERENCE10 Big Ideas From EyeForPharma Summit 2010
About conference wrap upsiQ is the innovation lab of GSW Worldwide. Weresearch emerging trends in both how technology andexpectations are changing. Then we model innovativetools and experiences designed just for health caremarketersOne of the ways we stay connected to the thoughtleaders in our industry is speaking at and liveblogging from top healthcare marketing conferencesAfter the conferences we collect the top 10 big ideaswe heard to share in conference wrap up sessions.We use presentations like this one to lead thosediscussions
THE PROMISES OFPERSONALIZEDMEDICINE ARE HIGHCan they really solve the problems global pharma isfacing?
1 PHARMA IS LOOKING TO PERSONALIZED MEDICINE TO DELIVER BUSINESS HEALTH• Some companies – like Roche – are even putting it at the center of their strategy• All are looking at highly motivating opportunities: SegmentExpand pool of Improve patient types Salvage failed diagnosed efficiency of for products patients clinical trials reimbursement
2 BUT: WE HAVEN’T CONNECTED THE DIAGNOSTIC TO THE TREATMENT• The more specialized the treatment, the more specific the needed tests• Drug and diagnostic companies work on different time lines• And payers won’t move without the diagnostic proof
PHARMA IS(RE)DEFINING THE WHY& HOW OF INNOVATIONFor years we talked about integration as our loftiestgoal. Now, we’ve turned our sights to innovation: theprofitable implementation of ideas. Will it be any lesselusive?
3 AS AN INDUSTRY WE’RE TRYING TO INSTITUTIONALIZE IDEA GENERATION• Pharma is expanding innovation beyond the product; moving to process, market and social innovation• The challenge is that our organizations aren’t adapting fast enough • Create urgency • Form a powerful coalition • Create a vision for change • Communicate the vision 8 CHANGES TO • Remove obstacles PROMOTE • Create short term wins INNOVATION • Use reviews to foster continuous improvement • Anchor changes in corporate culture
4 THERE ARE COMMON MYTHS ABOUT INNOVATION WE NEED TO OVERCOMEWe think: But, really: Innovation starts with insight intoInnovation starts with a brainstorm your audience and technologies Studies show focusing on business Innovation is about creating new models / related services products gives better results Innovation is an untamed creative The art of leading innovation well is process that can’t be led to be gentle (guide it) Innovation is about thinking The ideas have to be relevant to outside the box what we’re doing – redefine the box
PHARMA ISREALIGNIG TO ENTERNEW MARKETSThese emerging economies are complex and demand animble organization
5 PHARMA IS SHIFTING GROWTH STRATEGIES TO EMERGING MARKETS• Huge populations with unmet medical needs• Dynamic, growing markets• Few price constraints; low cost of doing business• Millions of new ideas• Scientists trained to think outside of typical limitations• Abbott was first phama company to India; Pfizer, GSK, AZ quickly followed
6 THE CHALLENGE IS THE DIFFERENCES IN EACH MARKETNature of insurance • Mexico is largely self pay coverage • Poland has universal coverage • India is simple and quick (2 years) Approval process • China is complex (4 years) • UAE has few competitors Local competition • Brazil has strong local champions Medical • Turkey has good patient access nationwide infrastructure • Indonesia has vast under-developed areas
PHARMA MARKETINGBUDGETS UNDER-VALUE DIGITALWe’re increasingly embracing digital for its efficienciesand trackability – but, do we really understand its role inhealthcare decision making?
7 BUDGETS DON’T MATCH UP TO CONSUMER TRUST• In the U.S., the #1 most trusted source of information is physicians (62%). The #2 most trusted is the Internet (57%)• In Europe, those numbers are 85%, 79%• Yet most pharma marketing budgets save only 2-3% of their investment for digital
8 BIGGEST ONLINE GROUP ISN’T WHO WE’D THINK • More people are looking for health information online than We Google entertainment, travel, finance, and automotive Health • 96% of teenagers are online. But, the biggest group – by the numbers – of online adults is actually the 4040-somethings own the web somethings • In August, 28% of visitors to health and wellness websites55+ go online were 55+" (Index 129) for health
RELEVANCE IS THEKEY DRIVER OF ANYMARKET SUCCESSHow can we make marketing more resonant instead ofjust more more?
9 MEDIA PROLIFERATION HAS CREATED A LOT OF SHOUTING (IN MORE CHANNELS)• Looking at data has replaced listening to people• A Google health leader placed pharma circa 1994 on an internet evolution chart• As an industry, we’re slow to evolve; faster to relocate
10 THE BIGGER OPPORTUNITY IS CREATING MORE RELVANCE Think about how people really use our digital toolsMATCH CONTENT UNDERSTAND RETHINK FILTERS ADD VALUETO REAL SEARCH WHAT’S NEXT Patients are so savvy What are peopleThe biggest website 66% of UK patients today that it’s difficult already doing that you mistake most talked to their doctor to bring just HCPS to a could make easier, marketers make is after visiting a HC site. using “oncology” site. Plan for a mix. better, more fulfilling? Would your site havewhere people search prepared them for the Limit the hurdles you What would we do if “cancer” ask them to jump we started there? conversation?