Pharma understands the importance and potential of multi-channel marketing, but implementing it effectively seems to be the hard part. Only a minority of pharma marketers currently have the capability to capture customer intent and deliver real-time, behaviour-based marketing across all channels.
A recent multi-country survey found that 74% of businesses have increased sales with a multi-channel strategy, 64% increased consumer loyalty/acquisition and 57% reported better customer experience. However just 16% said they were currently meeting all business and analytical needs for effective multi-channel campaigns.
Returning from the recent eyeforpharma meeting in Barcelona where 1000+ industry leaders from the major pharma companies gathered it was obvious that multi-channel marketing is still far from mature. So why is pharma so slow to overcome the barriers to a truly effective multi-channel marketing model?
Almost all pharma companies still need to continue the move from sporadic, disconnected initiatives to a more coherent strategy. This entails fundamental changes in how the commercial functions of sales and marketing interact and conflicting budgeting priorities.
A fully enabled multi-channel marketing model, for the major developed pharmaceutical markets, is increasingly essential and is driven by the ongoing changes in doctor behaviours and technological changes. Restricted access to customers and the increasingly specialised and complex nature of pharmaceutical products mean that more that ever pharma companies need to truly engage with multi-channel to help custom.
This is a Linkedin post by Alex Monaghan, Senior Director at Ruder Finn UK.