The Pharma Advertising Future Is Now

It has been a known fact that the pharma industry has traditionally been slow in adopting new technologies, especially when it comes to digital. However, 2020, with the global COVID-19 pandemic, became the year where many industries had to change how they operate to stay relevant in the increasingly demanding and complex business. That specifically touched the pharmaceutical industry. Why? The pandemic was an issue for the global healthcare system that required it to adopt and mobilize completely different ways of working on many levels (especially in under-developed countries). Also, the world required prompt support from the system that has been – running on autopilot for so long. 

 It’s a common saying that with every difficulty comes an opportunity, and it was no different for the pharmaceutical industry. In the face of so many challenges, technology has shown to be crucial in keeping the pharma business resilient, demonstrated through healthcare technology investment, which has grown by 47% and hit a record $51Bn in 2020. According to the latest ABI research report, the pharmaceutical industry is forecast to spend $4.5 billion on digital transformation alone by the year 2030. 

1. Embracing social media trends

Today, almost every brand is present on some social media platform. It’s a straightforward, mutually beneficial way of communicating directly to consumers (DTC) – In a way that hasn’t previously been adopted by the pharma industry. Social media also has the added benefit of humanizing brands, allowing consumers to feel an increased sense of trust and authenticity. 

2. Focusing on Brand Culture

Now more than ever before, consumers are invested in the internal activities, behaviors, and culture of an organization. According to a study by McCrindle, 86% of Australians say they are more likely to engage with an organization that clearly communicates its social impact. Pharmaceutical companies must find a way to build trust with an increasingly skeptical consumer. 

3. The Changing Nature of Work

The pandemic fundamentally changed how we work. This continued into 2022 as the pandemic forced people to re-evaluate their work lives and highlighted the importance of creating flexible, agile work environments. Companies now need to understand the value of it to stay relevant in an increasingly competitive job market. 

4. The Consumerization of Healthcare

Patient empowerment is increasing organically as access to information and increasing skepticism means that individuals are researching and becoming highly involved in the provision of their care. This means that patient expectations are higher than ever and that brands need to focus on the whole customer journey. This is a shift from traditional pharmaceutical models focused on the product to now being focused on the customer.   

5. Increasing Digital Healthcare Solutions

The medical field had previously been slow in shifting towards digitalizing the industry, however, there are many benefits to digital health, including accessibility and affordability. Digital healthcare helps patients access trusted information and optimize treatment results. For pharma companies, this means more innovation and more at-home care solutions are needed. 

6. Personalization in Marketing

CRM one-on-one marketing creates a unique, tailored experience for your customers. It’s a good practice generally, 80% of people are more likely to buy from a brand that provides a personalized experience. Particularly in pharma marketing, this makes every interaction with your customers more valuable, creating efficiency and increasing patient empowerment. Through this strategy and adopting technology that collects data, you can make more informed decisions to create personas and target specific audiences and customers in a way that feels personal.