If you work in the pharmaceutical industry, you know how important it is to think about marketing materials and ways to engage HCPs early on. One way to make marketing efforts more effective and manageable is to partner with a healthcare marketing platform.
There are many misconceptions about healthcare marketing partnerships in the pharma sector, so we’ve compiled a list of some of these misconceptions, along with the real truths about these beneficial partnerships.
The Truths About Healthcare Marketing Partnerships
Below are several common misconceptions regarding healthcare marketing partnerships:
Misconception: Digital marketing for pharmaceutical manufacturers is a waste of time and money – Will I actually see positive ROI?
Reality: A strong online presence coupled with targeted ad campaigns can, in fact, improve marketing ROI as seen by this case study on the effectiveness of online marketing tools. Depending on your goals, your online presence may include engaging blogs, email marketing campaigns, branded content hubs, etc.
On average, pharmaceutical companies spend roughly a quarter of net sales on marketing activities – oftentimes surpassing the amount spent on research and development.
By working with a healthcare marketing agency to develop a strong online presence and create targeted ad campaigns, you can reach the HCPs that matter to you, while generating a significant return on your investment. Your marketing partner can extend your human bandwidth, so you can focus on the other hurdles related to getting your product to market.
Misconception: Your product will be shown to everyone but YOUR target audience.
Reality: Using BroadcastMed’s mDNA™ technology, your messaging only shows to the most relevant professionals.
By better understanding your target HCP audience, you can make wiser decisions about where to focus your marketing efforts to make the most out of your marketing dollar. Our mDNA™ reporting, powered by our proprietary MD-ID™ tracking technology, goes beyond traditional web analytics to show you the exact identities and digital behavior of HCPs engaging with your website. With mDNA™, you can enjoy real-time web analytics, visitor metrics, custom reports, and more.
Partnering with BroadcastMed, you not only gain access to valuable tools, you also gain a full team of experts, available to assist you with any content creation, management, and promotion needs.
Misconception: Medical professionals don’t have time for social media, so it’s not important to focus marketing efforts in this area.
Reality: Medical professionals are extremely active on LinkedIn and Twitter.
According to LinkedIn, 6.2 million doctors, nurses, and other healthcare professionals are active on LinkedIn, along with 3.3 million hospital executives, 4.3 million pharma professionals, and 720,000 pharma and healthcare opinion leaders. Alternatively, a recent study found that 44.9% of medical professionals polled are regularly active on Twitter.
When used correctly, LinkedIn and Twitter can be powerful tools for connecting with HCPs. Like other professionals, HCPs use social media to look for employment opportunities, participate in conversations, and share valuable news and content with their network. By regularly developing and sharing concise and clear content, you can build brand recognition and position yourself as an industry and thought leader.
Misconception: There are too many legal concerns regarding digital pharma marketing.
Reality: The legal considerations are like lane lines. While staying safely inside of them, messaging can travel far, wide, and fast.
There are many laws and regulations governing prescription drug advertising and promotion in the United States. Prescription drug advertising and promotional labeling is reviewed by the Food and Drug Administration’s (FDA) Office of Prescription Drug Promotion (OPDP) to ensure they:
Is consistent with the FDA-approved prescribing information
Is truthful and non-leading
Contains a fair balance of product benefits and risks
Contains material information
Working with a healthcare marketing partner can ensure your marketing efforts follow all the necessary guidelines, freeing up time for you to focus on the larger picture.
Ready to Take the Next Step?
There are a lot of working parts to keep track of in pharma marketing, but with the right healthcare marketing strategy, the positive ROI you see will make it worth your while. Working with an agency well-versed in healthcare marketing can help you reach your goals, while ensuring your marketing efforts meet all necessary guidelines.
For more information on what a dedicated marketing partner can do for your pharma marketing efforts, check out our capabilities.