Pharmaceutical companies are clearly the center of attention around the world in recent times. The industry has experienced a boost like never before while tackling drugs, vaccines, preventative immunity-boosting medicines, and so much more. It is incontestable that most of the revenue and share price increase is linked to the deadly virus in one way or another. The leaders across the management of such companies actively strive to solve other more fundamental issues in parallel to maintain a sustainable growth trajectory.
The industry in general and pharma marketers, specifically, are dependent on the vast field force to interact with doctors and execute their marketing strategies. Alas, the pandemic has eliminated that option and disrupted the on-ground activities. Health press release observes the paradigm shift happening in the sales and marketing division of pharmaceutical companies.
The obsolescence of sales reps and supplying drug samples have seen the uprising of traditional professional detailing, E-detailing, Direct to customer advertising (DTC), journal advertising, and professional meetings in the marketing strategies.
The trends observed by Health Press Release that shape the new avatar are credited massively to digital marketing. A quick shift in buyer behaviors accompanied by the widespread proliferation of the internet, mobile technologies, social media, IoT, and artificial intelligence demand a move to multichannel selling models backed by deep customer analytics and insights. The marketing strategies are rebuilt with the help of the abundant untapped and unstructured data on consumers provided by social media platforms by simplifying the information, processes, and services in this arena.
There are numerous business benefits to multichannel marketing. The primary objective of such a model is to push pharmaceutical sales and marketing organizations through a commercially aligned, technologically advanced and a customer or patient-centric business model. It aids in the identification of the challenges, and adaptability to overcome the hurdles through a streamlined environment is one of the significant advantages. Enhanced management, easier tracking, and reporting, and recognition of the marketing force’s effectiveness are the driving factors behind the shift in the paradigm.