Thursday, 1 August 2019

Pharmaceutical Marketing: The 5 Latest Trends to Watch Out For

The world is changing, and new innovations are taking over almost every sector by storm, inclusive of the pharmaceutical industry. From AI (Artificial Intelligence) to automated machine systems, the world has seen technological advancements like interactive responsive UIs, premium management systems, e-detailing, and various other technical developments during recent years.

Holding on tight to the technological advancements, pharma marketing is also shifting gears. Let's have a look at some of the latest trends which pharmaceutical marketers should be aware of:

§  Mixing up different channels: A smart and calculative move


The lightning speed of digital communications cannot be ignored. Today, a majority of customers have access to digital media, and they are willing to and able to have a command over their digital experiences. With the rapidly evolving technology, there is an increasing expectation to satisfy the queries of the normal customer.

Physicians, understanding the gravity of the situation, have shifted long back to the patient-centric mechanism. The pharma industry is trying to keep up the pace with them. With the pool of information on the web, we are exposed to more relevant digital solutions that the pharma companies can get into, such as, live videos, interactive sessions, e-sampling, etc. The use of multiple channels is increasing, and the multi-channel resources will reach new heights in no time.

§  Everything mobile!


The smartphone era has hooked everyone to the 6-inch gadget. We have already seen a huge paradigm shift towards mobile technology by the pharma companies, irrespective of their size. Majority of the physicians are now able to access medical information on their smartphones, 24*7. This has made their task easier and they’re now able to focus on other complex tasks in a better way. Tech-savvy people are the time-saving people today.
This is just the tip of the iceberg, a lot more evolution still awaits the pharma sector. The gen-next technologies and many advance futuristic devices are the future of the pharma industry. Richer and fulfilling customer experiences are to be generated by excellent pharma services with the help of technology on online platforms.

§  No way it is moving ahead without AI (Artificial Intelligence) & ML (Machine Learning)


ML, AI, and Big Data; these all are connected to each other and are changing the face of pharma industry today. More and more physicians hunt for a complicated, developed and high-quality real-time set of data with additional interactivities. As a result of this, the quest today is to make the data authentic and updated.

Pharma marketers are going to have a hard time trying to figure out how to efficiently mix content with AI. ML & AI have a huge influence on the pharma industry’s future, and it aids with saving costs, monitoring and controlling patient’s journey and make strides with machine functions from any corner of the globe, without human intervention.

Speculations are that AI & ML will be revealing the individual preferences, there is a need to make sure that the pharma marketers are able to relay proper and required information to the customers, timely.

One thing that is to be kept in mind is that machines can never replace humans. The empathy and level of understanding of human emotions that a human can possess, machines can never. The field of life sciences requires a deep understanding of human emotions, needs and wants, which no technology can understand better than humans themselves. So, the human touch to the solutions should never be ignored by the pharma industry.

There are and will be many challenges faced by the industry on various fronts and technology solely cannot be the solution for each challenge. A proper mix of technology and the human element is required. The strategic thinking capabilities of the human mind still stands out. So, the trend might include AI, ML and other technologies, personalized multi-channel marketing which is value-driven will still matter the most.

Trust and transparency are the two factors that will lead to a successful combination of technology and humans. Envisioned data and 24*7 updated care will be the pattern all over the industry.

§  The introduction of IoT (Internet of Things)


IoT or Internet of Things coincides with the internal network of devices that are installed with sensors, network connectivity and electronics, etc. These grease the wheels of connectivity and exchanging of data in real-time.

Considering the practicability of IoT, it is seen as the factor that will remodel the pharma industry by allowing and automating remote supervision of patients, drug discoveries and many more tasks. The combination of IoT with the increased penetration of digitalized data in the pharma industry has opened gates to various opportunities.

The journey has been from Big data to IoT and edge computing. The data can now be processed not just in cloud storage, but within an IoT device. Various tiny gadgets will be capable of processing vast information in real-time, on their own. Edge computing is paving the way towards a changed way of working of the pharma industry.

§  Dynamic approach with social media


The power of social media and content cannot be overlooked, pharma companies should not consider them just as add-ons. There is a need to discard old marketing beliefs and keep up with the trends. Social media platforms can prove to a great place for pharma companies to strengthen their bond with customers. They can target their niche audience all across the globe and deliver them what they are seeking and what they as a pharma company are offering, at a time when they need it the most.

The power of content is such that people will instantly believe what they read; it doesn’t matter whether the content is authenticated or medically proven. So, there is a high need for regulated online content.

As per the recent FDA regulations and various restrictions, pharma is not eligible to plainly be a part of any conversation. Because of this, mostly the information available can be inaccurate and adverse.

The advancements in technology have been a great deal for the pharma sector. While there are several benefits associated with the recent technological changes and trends, the human factor still cannot be avoided. For this is truth that machines and artificial intelligence can never replace humans and their thinking and critical abilities, the mix and match of both is going to be the most successful combination for the pharma industry.

Turacoz Healthcare Solutions, being a medical communication company, tries to keep masses informed of the recent pharma marketing trends. Turacoz provides effective medico-marketing services along with other scientific communication services. To know more about us and our services, write to us at hello@turacoz.in

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