Why Does the US Pharmaceutical Industry Spend so Much on Online Marketing?
The
world’s largest drug company Pfizer took the plunge into the world of online
marketing in 2017 in a big way through internet-linked promotion, launching a
website PfizerStrive. The combination of marketing muscle and the massive reach
of social media is a win-win outcome for US pharma companies like these and
consumers alike. The site was launched in Canada and approved by PAAB, a
regulatory body. The site came loaded with tons of health information and
consumer surveys. Such educational advertising is the distinct USP of internet
marketing.
- Tapping Digital Disruption
PfizerStrive
is the latest foray of the firm into multi-platform digital marketing
strategies. These mark the step taken by US based pharma firms to extend beyond
drug-specific or corporate websites into social media channels like Twitter,
Facebook, YouTube and RSS feeds as well as smartphone apps. Pfizer has its own
Facebook business page and runs promos on the social media giant. Pfizer traces
its foray into internet marketing with More than Medication, its brand
awareness ad campaign launched way back in 2008 to promote healthy living
strategies.
More
Than Medication includes links to 10K non commercial patient forums, plus the
accompanying campaign has donated millions of dollars in contributing to
research organisations in the US. Pfizer is not alone. American Medical
Association has found drug companies have promoted generic and prescription
drugs through social media, using online interactive marketing with an ad spend
of USD 1 billion in 2011. The online promotions move across borders and reach
social media groups in different countries worldwide, too.
- Engaging with Healthcare Providers
Drug
industry executives are also seizing the chance to use social media to engage
with doctors. The aim is also to collect data to better serve consumers. US
based drug advertising is now not limited to Cable TV. The move to social media
marketing has caught the attention of the US FDA as well which has released
guidelines for use of electronic media since 2011 for pharma marketers.
Pharma
companies take care with tweets and Facebook pages as per the regulations. But
with the power of instant communication, online marketing channels make it easy to
communicate with customers.
- Going Where The Consumers Are
Millions
of patients look for health information online. As per the Pew Research
Centre’s Internet and American Life Project surveys, 3/4th of US internet users
sought health information online in 2012. Plenty of online information is available
on the web. What sets corporate websites apart is the use of innovative social
media marketing strategies.
More
pharma companies in the US are focusing on new ways to raise brand awareness in
the digital universe. Some pharma firms have even developed smartphone apps to
monitor calorific consumption or remind patients regarding prescription
medicines. Others have taken to Twitter accounts to disseminate information
regarding certain conditions.
For creating a new marketing model that adjusts to new realities, US pharma firms are increasingly spending on internet marketing. Top players like GlaxoSmithKline, Johnson & Johnson and Novartis have also increased their budgetary allocation for web marketing campaigns in present times, according to research by TNS. Online marketing offers real value for US pharma firms looking for not just local, but global presence as well.