5 Key Challenges Facing Digital Marketers in the Pharma and Biotech Space
We have heard no end regarding the challenges the pharma and biotech industry has been facing of late. The COVID-19 crisis has pulled a sharp focus on the manufacturing and logistics of pharma and biotech as companies such as Pfizer and AstraZeneca rushed to bring their life-saving vaccines to the people of the world.
However, this means that other elements of the pharma and biotech business, such as digital marketing, have understandably fallen by the wayside in our consideration. This doesn't mean the challenges of those corners of the industry have evaporated though, and now is the time to turn our focus back onto pharma and biotech digital marketing and evaluate how to best move forwards in the post-COVID world.
With that in mind, here are five challenges facing digital marketers in the pharma and biotech space and some suggestions as to how they might be addressed.
#1 Social Media
In previous eras, pharma and biotech companies have relied on advertising their products to customers largely via television commercials or, in the case of B2B interactions, by sending sales reps to visit with healthcare providers directly.
However, the pharma and biotech space can no longer ignore the power of social media when it comes to reaching their desired audience. Every subsequent generation spends less time watching commercial television services and an ever increasing number of people use social media as their primary news source. With more people consuming media through subscription - and therefore ad-less - services such as Netflix, social media can no longer be ignored as a channel for pharmaceutical advertising.
The main issue with pharmaceutical advertising is there are strict regulations governing the kinds of messages which can be put out and, with social media being a relatively new force in the world, the lawmakers simply haven't caught up yet.
#2 Skills Shortages
As the pharma and biotech space becomes ever more digitally focused, it creates a need for employees with specific skill sets and knowledge which can best meet the challenges of this new world.
Research by the Global Data Intelligence Centre found that the largest barrier to successful digital transformation was a lack of specific skills and talents. The impact of this shortage will feed into every level of the pharma and biotech business, slow the rate at which digital transformation can occur, and lessen the effective management of digital marketing output significantly.
It isn't clear why the younger and more tech savvy generations aren't being drawn to pharma and biotech digital marketing. However, the best way to address the issue is to meet these young people where they are. Make sure your brand is represented at university career fairs and other events likely to be attended by people on the cusp of entering the job market to give yourselves the best chance of acquiring the hottest talent.
#3 Multichannel Marketing
Multichannel was a fun experiment while it lasted, but it's clear it doesn't go nearly far enough in addressing many of the challenges faced by digital marketers in the pharma and biotech space in today's market.
While multichannel allows multiple teams to work on different channels and did allow for a more focused distribution of talent, it also creates workplace silos where everyone is too busy focusing on their own marketing streams to worry about things such as brand consistency and congruency.
With Omnichannel marketing you can make sure that brand messaging is consistent across all channels and create a marketing ecosystem where all your people are focused on the goals of the organization as a whole instead of disappearing off into their own little siloed huddles. Email, digital, social - all these channels need to be pointed in the same direction to avoid end user confusion and the resultant lost revenue.
#4 The Patient Experience
It used to be easy for the pharma and biotech industry to focus almost entirely on its own products and leave the actual business of caring for patients to the experts in the healthcare industry.
However, with patient experience becoming an ever-greater focus of the industry as a whole, the pharma and biotech space can no longer ignore this crucial aspect of healthcare altogether. It isn't always easy for pharma and biotech brands to achieve this though as there is always a degree of separation between them and the end user of their products - i.e., the patient.
Pharma and biotech brands need to embrace this shift, however, and move from the old ways of focusing almost exclusively on the science to engaging directly and empathically with customers and patients. The pharma and biotech space can no longer be a walled garden where nobody knows what is going on behind the scenes. It must evolve and become more open and communicative with the public.
#5 Coming Out of COVID
The COVID-19 pandemic has fundamentally transformed the relationship the public has with pharma and biotech companies. Brands such as Pfizer and AstraZeneca have become household names and the issues surrounding pharma supply chains and manufacturing have had a spotlight shone on them like never before.
This presents challenges and opportunities for the digital marketers as they must simultaneously seize on this good will while remaining sensitive and humble in the face of a traumatized populous.
There is no easy answer to this one and we can only say that marketing must be carried out sensitively and with the feelings of the end user in mind. Arrogance and celebration must play no part and the message must be that pharma and biotech companies are here to help.
Final Thoughts
The next few years will present significant challenge for the pharma and biotech marketing space. However, by working together and remaining focused, humble, agile, and open to change, the industry can build on its recent achievements and enjoy a bright future.
These challenges and more are sure to be part of the conversation at DigiPharma Connect 2023, being held in March at the Westin Hilton Head Island Resort & Spa, SC.
Download the agenda today for more information and insights on the DigiPharma Connect experience!