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  • Online Strategies for the Pharmaceutical IndustryOnline Strategies for the Pharmaceutical Industry

    • Date: 16/07/09

    • Category: Email Marketing

    Traditional pharmaceutical marketing techniques are becoming less effective. With 80% of online consumers searching for health information regularly, there is a growing need for the pharmaceutical industry to develop integrated online strategies. This figure coincides with the rapid growth of direct pharmaceutical sales to consumers which grew from $700 million in 1997 to an incredible $4.2 billion in 2005 (United States Government Accountability Office 2006).

    According to the Pew Internet & American Life Project, 113 million Americans – or 37% of the country - use the internet to find health-related information. But Michael Keriakos, co-founder and president of Waterfront Media, estimates that whilst companies in other industries are dedicating around 10% of their budgets to their online strategies, pharmaceutical companies, on average, dedicate less than 2%.

    The internet is a medium where pharmaceutical companies can ‘get alongside’ patients and physicians alike, and effective online strategies offers a more complete brand experience. With the web having high usability and accessibility, it has become the largest known audience for any marketing tool and is the fastest way to spread information globally. Not only is it vast, but it can be used to target specific markets making it a personal approach to marketing. It is an invaluable market research tool with the ability to fully record, track and analyse online strategies. Its global research presents the pharmaceutical industry an opportunity to reach emerging markets effectively both in resources and in outcomes.

    Developing online strategies not only results in lower costs for the distribution of information and media to a global audience, but its interactivity means you can provide and elicit instant responses to user queries. Whilst online strategiesis often considered to have a broader scope because it incorporates the internet, social media, email and wireless media, it is also targeted using tracking software, statistics and analysis, management of customer data and electronic customer relationship management (ECRM) systems.