New report: Online pharmaceutical marketing impacts brand awareness

comScore inc, a worldwide leader in measuring the digital world, recently released important new results which suggest that branded pharmaceutical websites generate the highest lifts in Rx conversion and adherence.

The information was deduced from comScore’s sixth annual ‘Online Marketing Effectiveness Benchmarks for the Pharmaceutical Industry’ report, which was conducted in partnership with Evolution Road LLC, a marketing innovation consultancy. The report was based on survey data from approximately one million online participants, and information from over 100 pharmaceutical studies. Whilst the report was compiled in the US, the findings are likely to have global implications.

The findings show that exposure to online display ads creates a lift in brand awareness. This highlights the positive impact that online pharmaceutical marketing can have on brand awareness and conversion among prospects. “Over the years, our benchmarking studies have proven the impact that online marketing continues to have on increasing consumer awareness and favourability towards health brands, ultimately driving treatment,” said comScore’s vice president for Health and Pharmaceutical Solutions, John Mangano.

In conjunction with the release of this information, comScore is introducing new enhancements to its Pharmaceutical Rx Lift Measurement studies, in order to offer pharmaceutical marketers additional, more actionable insight into the success of their campaigns. The Pharmaceutical Rx Lift methodology now allows marketers to identify the effect and success of specific elements of their campaigns.

Pharmaceutical marketing faces a ‘hurricane of change’

A report by the global management consultancy firm Booz and Company shows that senior executives within the pharmaceutical industry believe the business model is broken and that the industry needs to adapt marketing strategies appropriate for the digital age.

The critical nature of the state of sales and marketing within the industry was revealed by Danielle Rollmann, a partner in Booz and Company’s Global Health Practice, who claimed that “the pharmaceutical industry is the eye of a hurricane of change”.

The Booz and Company survey was designed to take the ‘industry temperature’ by surveying executives from leading US and European pharmaceutical companies. In response to the question ‘Is the pharmaceutical model broken?’ 68% answered in the affirmative with 44% in agreement and 24% in strong agreement.

In response to a range of questions, it was clear that many decision makers within the pharmaceutical industry believe that budgetary and financial pressures were going to have a serious impact on future sales and marketing efforts. The survey revealed that there was likely to be a substantial shift towards digital methods of marketing and a sharp decline in traditional print and journal advertising.

The biggest shift in marketing priorities was accelerated adoption of social media aimed at doctors to promote products with 58% of respondents projecting an increase in expenditure on social media as a marketing channel. Mobile technology for marketing, e-detailing and doctor oriented media channels were all identified by over 50% of those surveyed as likely to receive higher budgets in the next two years.

The results of the survey underline the increasing central role that digital marketing will play within the pharmaceutical industry for the foreseeable future and the importance of companies claiming their slice of digital territory as the earliest possible stage.