5 Ways Pharma Movers and Shakers Disrupt the Landscape
From the emboldening 13.1 percent increase in pharma product spending in 2014, the pharma landscape is seeing its fair share of disruption. Change is good – if the organization has the insight to adapt and the fortitude to do things differently. This week’s curation is all about the movers and shakers in pharma, covering digital marketing and analytics, social media, and the drivers of change.
1. Take Charge of Your Digital Marketing Once and For All
By Dr Andree Bates
Get Control Over Digital Marketing
The pharma industry isn’t immune from consumer preferences. If consumers demand mobility, personalization and customization from businesses, they’ll expect if from pharma organizations, too. As a result, the pharma landscape needs to take these factors into consideration and improve marketing and customer engagement. The advantage for pharma is that integrating digital channels into their corporate DNA allows adaptability as traditional business models are disrupted and enables them to harness market share. Success is attainable by going beyond the standard social media tools and employing digital business models through analytics.
2. Connecting The Dots: Which pharma companies are succeeding in the social media space?
By Ogilvy CommonHealth Worldwide
What Works in Social Media
Tweets, follows, returns—these are just the standard tools pharma organizations have at their disposal. But they won’t automatically lead to engagement and conversions. The most successful pharma organizations employ these strategies: Integrating social media into their larger marketing strategy; creating content that is meaningful and relevant; and ensuring the content effectively engages their audience.
3. Meet Pharma’s Newest Movers and Shakers
By Jonathan D. Rockoff and Joseph Walker
Agents of Change
Newcomers to the pharma landscape include companies like Actavis PLC and Valeant Pharmaceuticals International Inc., and these fresh faces are making waves. Often, stalwarts within the industry are challenged by new ideas and procedures. But new organizations – and the wave-makers heading them up – could be just the thing the industry needs to stabilize, grow and adapt. This could be particularly true in terms of adopting new business models, such as digital marketing and social media.
4. What healthcare professionals should know about social media profiles and industry guidelines
By Mark Smiciklas
Social and privacy: the right mix?
While pharma organizations are largely embracing social media, the question of how the platform tests the bounds of privacy still remains. In fact, privacy issues are generally preventing a widespread adoption of social media, with many organizations in fear of breaching patient privacy. Just one issue at hand, the blurred lines of private social media accounts and public social media accounts challenge conventional wisdom. In this new landscape, pharma organizations must be wise and create policies that guide its use. Specifically, organizations should enact policies that cover personal accounts and know the implications of how such guidelines prohibit or encourage the use of social media in their larger digital strategy, keeping privacy top-of-mind.
5. Are M&A Replacing R&D In Pharma?
By Nicole Fisher and Scott Liebman
Move over R&D; Make way for M&A
The traditional approach of growth through heavily investing in R&D may be coming to an end – for the betterment of health care. With M&A driving the growth of new treatments, pharma organizations may now have access to the adaptability of smaller, nimble biotech companies making research discoveries, so they can move forward with better knowledge of what works as a viable product. Then, pharma organizations can make wise financial investments to develop those products.