For many years, pharmaceutical companies decided what their products were worth, and priced them accordingly. But healthcare policy-makers, payers and patient groups are now playing an increasingly important role in the valuation process – and this trend will accelerate, as healthcare expenditure everywhere continues to soar.
2. What will the healthcare landscape
look like in 2020 - 2021?
• For many years, pharmaceutical companies decided
what their products were worth, and priced them
accordingly. But healthcare policy-makers, payers and
patient groups are now playing an increasingly important
role in the valuation process – and this trend will
accelerate, as healthcare expenditure everywhere
continues to soar.
3. Tips for Successful Product
Launch in Pharma
• Among the biggest expenses for pharma marketers
worldwide, there’s one that really stands out – pharma
product launches. When done right, a new product
launch can ensure that your product is recognized by
pharmacies, doctors and patients/customers and it
achieves wild success from the start. Here are some
tried and tested ways of improving your product launch.
4. Tips for Successful Product
Launch in Pharma
• THINK BEYOND THE SALES REPS
When launching a new product, most managers go the usual route and leave
the promotional work to the sales force. However, this strategy is far from
efficient in the modern day and age. As mentioned before, sales rep access is
declining across the board and are by far one of the most expensive
promotional methods for new launches.
Pharma product launches need to be aided with a successful multi-channel
strategy. By incorporating a mix of email, content marketing, e-detailing apps
and other digital channels.
5. Tips for Successful Product
Launch in Pharma
• TIMING IS EVERYTHING
When preparing for a new or existing product, you need to think months ahead
of the big date. The month before and after the launch can define the fate of the
product in the following years
Use all available channels, such as your website, LinkedIn, email newsletters,
paid advertising and all other channels you have at your disposal to create
awareness of all products
The first few weeks after the launch is when clients will be most interested in
guidelines, product information and communication with the sales rep team
6. Tips for Successful Product
Launch in Pharma
• THINK ABOUT THE CONSUMERS
When launching a new or existing product, most pharma companies focus on
exactly that – the product, and nothing else. However, the primary target of
your products should be those who facilitate its use – the consumers.
• MARKET RESEARCH PRIOR TO LAUNCH
One of the most common reasons why new product or existing products fail is
the lack of understanding of the market. While strict pharma regulations and
lack of a target audience make it difficult to investigate the market, it is not
impossible.
Investigate with pharmacies about the needs that the current market meets or
does not meet and you’ll get a glimpse into what the competition is
doing right and wrong
7. OUR GUIDE TO PHARMACEUTICAL
MARKETING
1. Don’t Neglect Your Social Media Presence
Remember that content is crucial for attracting the attention of our customers. Content is
what drives engagements, so we have to make sure that we strike the right balance
between being overly promotional and publishing content that the viewer wants to see.
As one of the newer pharmaceutical marketing tactics to be used by many
manufacturers, social media is often used to get attention online.
Because many pharmacies use social media to market their practices, there is a high
chance they will be checking social media. Patients also get information online about
treatments for their health conditions, so we should be sure to address both audiences in
our products social media campaigns.
8. OUR GUIDE TO PHARMACEUTICAL
MARKETING
2. Be Sure To Build Relationships
Having good relationships with pharmacies is a key aspect of being a successful product
marketer. The reason is that pharmacies want to prescribe pharmaceutical products from
sales reps that they know and trust. Pharmacist/front shop assistants feel a sense of
responsibility to their patients.
3. Offer Free Samples
Pharmacies who receive free samples of a product are more likely to prescribe it. They
are able to hand these out directly to their customers who will be able to try our product
for free without risk. This is one of the more traditional methods of pharmaceutical
marketing, and it is quite effective in being able to reach a large number of people. While
effective, it pays to do this in a responsible manner so our reputation doesn’t come into
question.
9. OUR GUIDE TO PHARMACEUTICAL
MARKETING
4. Utilize Technology
Pharmacies and wholesalers tend to be early adopters of new technologies. Healthcare
is a profession that requires people to continually update their ways of doing business
and their technology practices. Pharmaceutical reps have always wanted to spend time
with pharmacist in person, but many have decided that with new technology, there are
other ways of interacting with them.
5. Have Quality Website Content
Make sure that our products website has all of the content that a pharmacy or a patient
would need. It should explain the benefits of the product, recommended dosages, clinical
trial data, safety information, risks, and more. Our companies website design should be
easy to navigate, and you should also have a system in place for capturing a person’s
email address. The website is the primary customer communication tool
for the drug, so it should be a good landing page for customers.
Having high-quality content on your pharmaceutical website not only
helps with user satisfaction but also drives Google rankings and traffic.
10. OUR GUIDE TO PHARMACEUTICAL
MARKETING
9. Create Visual Aids For Pharmacies and Customers
Remember that there is value in having visual aids for pharmacies to use in their stores.
If we have an attractive poster, we will be able to have something of value that we can
present to pharmacies and customers. Potential customers will see the value that we can
provide and will want to connect with us.
11. Examine How Well Your Pharmaceutical
Marketing Techniques Are Working
• Remember that one part of all of the most successful pharmaceutical marketing
strategies is taking a very close look at numbers. Ultimately, we should be creating as
many pharmacy clients as possible. Tracking our results ensures that we are aware
of how well our marketing strategy works or doesn’t work. Sometimes it doesn’t
matter what pharmaceutical marketing tactics we are using but how well we are
executing those tactics.
• Always remember that there are many different pharmaceutical marketing strategies
that we can choose from. If at any time the pharmaceutical marketing tactics we
chose aren’t working, it may be time to move on to something else. As always, the
key to a successful pharmaceutical marketing campaign is being consistent in our
brand message and image. With consistency, we are able to achieve more with our
brand than we could have without.