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Effective Marketing Strategies For The Pharmaceutical Industry To Achieve Growth
Marketing Pharma

Effective Marketing Strategies For The Pharmaceutical Industry To Achieve Growth

By Rajarshi December 19, 2022 - 29 views

Growth marketing for healthcare is an area of focus that often goes neglected. Every pharmaceutical business requires a strategic and dedicated marketing blueprint, one that keeps evolving with the growth of the business as well. 

It should have sizable flexibility for staying in sync with market circumstances and other disruptions as well. 

The key objectives of healthcare marketing strategies would be scaling up brand engagement and awareness, building a reputation for reliability and trust, communicating information about new treatments and pharmaceutical product launches, and so on. 

Of course, the end goal is also higher visibility, revenues and sales, along with ROI. 

Here are some best practices for pharmaceutical or medical marketing which may be followed for enhancing growth across diverse channels/verticals: 

Have Your Audience In Mind

Are you marketing for doctors? Or are you marketing for a retail consumer base? You should first define your audience before embarking on pharma and healthcare digital marketing drives. 

Set Your Targets Clearly

What are your core objectives? Is it penetrating deeper into the market? Is it the promotion of existing treatments and drugs for a newer market? Is it the introduction of new treatments or drugs? Is it otherwise diversifying, i.e. retailing newer treatments or medicines for a wider audience? Chalk it out before starting off. 

Have your USPs Listed Out

Once you build your USPs, selling and marketing products will be easier. Create differentiators based on product quality, service, and overall track record, pricing, fulfillment timelines, and other parameters. 

Do Some Market Research

Ask questions to your target audience. Get their insights to learn more about their needs and preferences. Also do your homework on the communication platforms used by your target audience, the emerging trends in the market, the experience you wish to build for this audience, and differentiators from your rivals. 

Have Your KPIs (key performance indicators) Clearly Laid Down

These metrics may include average revenues, non-prescription sales, overall profits/revenues/sales, and more.

Marketing Activities That May Help You 

  • Update and maintain your website which showcases your company in the best possible manner. 
  • Your site should be mobile friendly. 
  • Make it easier for your target audience to access vital information online. 
  • Have resource sections and guides that might help. 
  • Invest in SEO, blogging, and forum activity. 
  • Connect with doctors through online communities worldwide. 
  • Build your company presence across social media channels. 
  • Use CRM for garnering data about all leads and use it for relationship building. Use this data for send personalized greetings, messages, after-sales support, customized email and other marketing campaigns, free samples, offers, and more. 
  • Build posters and other visual interfaces which can attract a higher number of prospective customers. 
  • Optimize your network-building activities by participating in online discussions, professional events, and more.  
  • Target every audience segment differently. 
  • Always focus on the patient and try to offer solutions to varied needs. 

You should have measurable KPIs including the new contract figures, monetary values, number of leads qualified/engaged, net sales figures, revenue growth, operational cash flows, retention figures, and percentage of market share. 

Other indicators include traffic to your website, SEO rankings, rates of conversion, and overall engagement on social media.