EXECUTIVE INSIGHTS                                                                                                        ...
EXECUTIVE INSIGHTS         Leveraging the evolution and integration of a company’s CRM                    exploitation of ...
EXECUTIVE INSIGHTS         From a strategic perspective, the true potential of digital         Future trends, including fu...
EXECUTIVE INSIGHTS         L.E.K. Consulting is a global management          For further information contact:             ...
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Unlocking Digital Marketing Opportunities for the Pharmaceuticals Sector: Developing a Long-Term Approach to Digital Marketing (Part 3)

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This is the third and final report in the series, “Unlocking Digital Marketing Opportunities for the Pharmaceuticals Sector: Developing a Long-Term Approach to Digital Marketing.” This report looks at maximizing the impact of digital marketing across pharma organizations to realize the full potential of this rapidly evolving approach. The report includes:
* Keys to developing a personalized approach to digital marketing initiatives based on the most appropriate segmentation criteria
* How pharmaceutical organizations can achieve a range of benefits via digital marketing

Published in: Health & Medicine, Business
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Unlocking Digital Marketing Opportunities for the Pharmaceuticals Sector: Developing a Long-Term Approach to Digital Marketing (Part 3)

  1. 1. EXECUTIVE INSIGHTS VOLUME XIV, ISSUE 11 Unlocking Digital Marketing Opportunities for the Pharmaceuticals Sector: Developing a Long-Term Approach to Digital Marketing In this final instalment, L.E.K. Consulting looks at maximising and specialists, other stakeholders, etc) and on providing the impact of digital marketing across the organisation in order them with an increasing array of differentiated services. In the to realise the full potential of this rapidly evolving approach. near future, technological developments will enable a large amount of valuable information on users to be extracted. Key Digital marketing presents many opportunities for statistics such as number of pages viewed, average time spent pharmaceutical companies, but its strategic role and by page, type of content downloaded or accessed and the implications for an organisation’s commercial model are still level of interactive communication will enable the detailed under debate. At present the main focus of digital marketing segmentation and profiling of users, leading to specific initiatives is on creating and feeding networks of users (GPs objectives, solutions and content by profile (see Figure 1). Figure 1 Developing a Personalised Approach to Digital Marketing Initiatives Based on the Most Appropriate Segmentation Criteria Segmentation Criteria Related Solutions Situation A: KOL/1st Tier 2nd Tier • Target: KOL, Believer, Interconnected, Tech-friend • Objective: Engage targets as product champions • Solution: Webcast of hospital meetings with live Q&A sessions Passive Believer Basic User Situation B: • Target: 2nd Tier, Basic user, Stand- alone, Tech-friend • Objective: Convey pro-product messages Experimenter Inter- Traditional Standalone • Solution: KOLs’ interview broadcast connected Tech-friend Source: L.E.K. Consulting Unlocking Digital Marketing Opportunities for the Pharmaceuticals Sector was written by Max Rubin, Partner and head of L.E.K.’s Pharmaceuticals practice in Milan, Clay Heskett, Partner and head of L.E.K.’s Pharmaceuticals practice in London, and Andrea Sgarro, a Manager in L.E.K.’s Milan office. Please contact us at lifesciences@lek.com for additional information.L.E.K. Consulting Executive Insights LEK.COM
  2. 2. EXECUTIVE INSIGHTS Leveraging the evolution and integration of a company’s CRM exploitation of digital marketing opportunities. Used correctly, systems could lead to an ad-personam approach, with the digital marketing can help to guarantee compliance with personalisation of the promotion model and messages, and the regulatory environment by changing the way companies therefore the greatest promotion effectiveness. interact with customers. For example, some companies recently announced that they would no longer be sponsoring Underlying social trends, including behavioural schemes, physicians to attend international conferences, instead using represent a further opportunity. For instance, companies can digital marketing solutions to provide top-level medical benefit from patients’ increasing tendency to spontaneously education through innovative tools such as remote live form large networks of people for advocacy or informative e-congresses. purposes (the so-called “swarm approach”). By converging these forces in specific digital marketing solutions (e.g. guided From an internal perspective, the inevitable proliferation of forums or patient associations’ social communities), companies digital marketing initiatives and their integration into the overall can create a strong relationship and a privileged communication commercial approach will ultimately lead to a rationalisation of channel with stakeholders whose importance is already high the digital marketing approach. In particular, the appropriate in some areas (e.g. OTC, chronic diseases, etc) and whose organisation structure, processes and roles would enable importance is expected to increase significantly in other specialty pharmaceutical companies to: areas. The digital marketing model could evolve from a “Share • Coordinate a large number of initiatives from different of Voice” to a “Share of Time” approach (see Figure 2), with areas digital marketing solutions specifically developed for moments not covered by traditional promotion patterns (e.g. lunch, • Pursue cross fertilisation of digital marketing initiatives travelling time, night shifts, weekends and other free time). • Maximise internal (e.g. platforms) and external (e.g. on Although the healthcare regulatory environment presents targets) synergies some limitations, it is expected to evolve in line with future • Capture and exploit new digital marketing trends customer behaviour, with a positive impact on the full Figure 2 Representation of Share of Time Approach 23 24 1 2 22 21 3 Non-working time 17 18 19 20 4 5 6 Typical working day 7 Patient diagnosis and Traveling to the hospital analysis 16 8 15 9 10 11 12 13 14 Visiting time: Lunch 20% ambulatory | 30% staying | 50% day hospitalPage 2 L.E.K. Consulting Executive Insights Vol. XIV, Issue 11 LEK.COM
  3. 3. EXECUTIVE INSIGHTS From a strategic perspective, the true potential of digital Future trends, including further technological advancements, marketing will only be realised when pharmaceutical companies evolving regulation and underlying social factors, will enhance evolve their business models to take advantage of the the opportunity for innovative solutions. This opportunity can opportunities presented. By doing so, organisations can achieve be captured by monitoring the progress of digital marketing a range of benefits: and realigning internal capabilities and organisational structures accordingly. • A flexible, cost-effective personal promotion model, with the optimal integration of digital concepts and traditional L.E.K. believes that the time for adopting a systematic digital field force techniques marketing approach has come. Leveraging its extensive experience in this area, L.E.K. can help pharmaceutical • Resources realigned across the stakeholders who really organisations to define the vision and strategic role for digital matter, by ensuring the right mix of roles, capabilities and marketing, design and implement fully integrated solutions and effort are appropriately deployed develop a robust long term approach that will enable them to • The model tailored to local variations in line with specific achieve the considerable benefits available. opportunities and constraints (e.g. tenders) • Specialised disease area capabilities enhanced by working closely with GPs and other specialists on disease-specific partnership programs (e.g. adherence schemes) • Increased proximity to patients, using digital media to gain feedback via key stakeholders Conclusions Technological advancements, paired with increasing use of social media and internet-based applications, have generated a fertile ground for digital marketing in the pharmaceuticals sector. Cost containment measures and limitations on target access in most markets are accelerating digital marketing uptake in light of the emerging need to build an integrated, flexible and cost-effective promotion model through multiple, alternative channels. Applied to stakeholder management, digital marketing can provide several benefits, including efficiency, flexibility, differentiation and extended target coverage. Companies have started to experiment with digital marketing solutions with mixed results, a consequence of limitations in shared vision, poor integration with the current promotion model, lack of organisational support and a limited long term view of the digital marketing opportunity. Initial indications, however, show that digital marketing reveals its true potential when fully integrated with the company’s overall business model.Page 3 L.E.K. Consulting Executive Insights Vol. XIV, Issue 11 LEK.COM
  4. 4. EXECUTIVE INSIGHTS L.E.K. Consulting is a global management For further information contact: International consulting firm that uses deep industry London Milan Offices: expertise and analytical rigour to help clients 40 Grosvenor Place Via Agnello 2 Auckland solve their most critical business problems. London SW1X 7JL 20121 Milano Bangkok United Kingdom Italy Beijing Founded nearly 30 years ago, L.E.K. employs Tel: +44 (0)20.7389.7200 Tel: +39 (02).8646.2761 Boston more than 900 professionals in 20 offices Fax: +44 (0)20.7389.7440 Fax: +39 (02).8646.2791 Chicago across Europe, the Americas and Asia-Pacific. Paris Wroclaw Los Angeles L.E.K. advises and supports global com- 3 rue Paul Cézanne ul. Pilsudskiego 13 Melbourne panies that are leaders in their industries 75008 Paris 50-048 Wroclaw Mumbai – including the largest private and public France Poland New Delhi Tel: +33 (0)1.4703.1950 Tel: +48 (71).1901.630 sector organisations, private equity firms Fax: +33 (0)1.4296.1138 Fax: +48 (71).7901.155 New York and emerging entrepreneurial businesses. San Francisco L.E.K. helps business leaders consistently Munich Shanghai Neuturmstrasse 5 Singapore make better decisions, deliver improved 80331 Munich business performance and create greater Sydney Germany Tel: +49 (89).922.0050 Tokyo shareholder returns. For more information, Fax : +49 (89).922.0520 go to www.lek.com.Page 4 L.E.K. Consulting Executive Insights Vol. XIV, Issue 11 LEK.COM

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