Big Pharma to Increase Outsourcing, Improve Digital Marketing Efficiencies
Large pharmaceutical firms pulled back on their DTC marketing last year, spending about $3.1 billion. This year, the biggest firms in this sector have told researchers that they intend to explore more multichannel marketing initiatives. In doing so, they will likely outsource a portion of this activity to agencies and services.
About 1/3 of sales reps and executives in the pharma industry believe their marketing organizations ‘need a complete overhaul.’ The marketing transition is well underway with some 25% of direct sales people having been replaced by digital initiatives that target the 4 key markets for their products – doctors, providers, payers and patients. By 2015, these digital interactions will increase another 26%.
40% of pharma marketing execs say they believe they have redundancies that need to be eliminated. About 70% aim to master multichannel marketing in 2013 and another 60% believe they can improve efficiencies in their digital campaigns. One way they’ll do this is through better use of analytics. Nearly all, 95%, of surveyed execs will be looking outside their organizations for expertise in managing analytics. About 89% of these same folks will be hiring outside advertising help and 79% will hire outside digital and content production help as they remake their organizations.
If you’re selling digital services, do you expect to be pitching more pharma clients this year?[Sources: Big Pharma Sales and Marketing. Accenture.com. 2013. Web. 1 Apr. 2013; Marketing to U.S. Pharmacists. Cegedim.com. 2013. Web. 18 Mar. 2013; Silverman, Ed. Pharma Spent Less. Pharmalot.com. Mar. 2013. Web. 18 Mar. 2013]