What Kim Kardashian Can Teach Pharma About Marketing, and More
As summer is winding down and children get ready to head back to school, pharma marketing, costs and M&As are stealing the headlines. From Kim Kardashian to the Ice Bucket Challenge, pharma can use these models to innovate marketing. Digital strategies prove just as important, with some leaders in the industry offering inspiration. In other marketing news, patients take front and center, while high consumer expectations require pharma to think in new ways. Finally, M&A is still a dominating force, with new insights on what’s driving aggressive takeovers.
1. The Kim Kardashian-Endorsed Morning Sickness Drug Is The Real Deal
By David Kroll, published on Forbes
Social Media Marketing Lessons for Pharma
Celebrity eccentricities aside, Kim Kardashian’s recent endorsement of the morning sickness drug, Diclegis, has shed new light on how to do marketing. The paid endorsement by the celebrity shows how effective social media can be for pharma. The reality star has over 40 million Instagram followers, and the post about Diclegis received over 450,000 likes and 10,000 comments. The manufacturer claims a direct spike in traffic, while the post also helped form a foundation for discussions about pregnancy symptoms between pregnant moms and their physicians.
2. Should DTC marketers put away their marketing hats?
By Richard Meyer, published on pharmaphorum
How to market to real people
DTC marketers already have a good understanding of health conditions for the patients to which they market. Generating success requires going beyond this basic foundation, thinking like the patients they serve who are experiencing one of the most stressful, worrisome periods of their lives. When dealing with a diagnosis, patients are consumed by a plethora of online information. A streamlined website strategy should involve speaking directly to the patient, minimal use of complex terms, pages segmented for various types of patients, content from credible sources, and real testimonials, along with more effective tactics.
3. Survey: 59% of Healthcare Orgs Lack Digital Health Strategy
By Jasmine Pennic, published on HIT Consultant
The importance of a digital health strategy
With over 50 percent of healthcare organizations either lacking a digital health strategy or lagging behind in their strategy, it’s clear that many still need help finding their way. Organizations can look to the other 41 percent who are innovating and leveraging digital health assets in interesting ways. Driving business outcomes, speed-to-market is one of the most significant advantages for healthcare companies. That tactic depends largely on the digital health strategy that the organization employs.
4. What Makes Engaging Health Care Marketing Campaigns Work?
ALS Ice Bucket Challenge Amazing Stats
Pharma marketing can learn much from the innovative Ice Bucket Challenge, which ultimately raised more than $100 million and increased annual funding by 3,500 percent within just one year. While these numbers are impressive, what is just as remarkable is the virality of the challenges. Known as the biggest social media phenomenon across the globe, the campaign saw 17 million people load ice bucket challenge videos to their Facebook feeds and 440 million people watched the videos, for a total of 10 billion views.
5. Why Pharma Must Change Its Model
By Matthew Herper, published on Forbes
High costs, high expectations mean turning pharma on its head
Kodak is just one example of a hugely successful company that couldn’t adapt to the changing landscape, quickly to fall off the face of the earth. Pharma organizations are no different, finding it a challenge to change when they’re experiencing success. But, this is just what is required in today’s times. Radically rethinking how we do business is a must, as consumers demand high-quality care, cost savings are non-negotiable, and staying in business means eliminating waste.
6. A Hostile Environment: The M&A Landscape in 2015
By Jeff Golman, published on Forbes
What’s really driving aggressive M&As?
Hostile pharma deals dominated the headlines last year. This year will be no exception. At mid-year, hostile takeover by U.S.-based companies doubled. The move is designed to help larger corporations overcome stagnated growth. The high-profile buyers pursue M&A to spur growth, revenue and market share, while reducing operating costs. Perhaps the pursuit of aggressive acquisitions and mergers is not driven by greed, by instead by a need to manage costs and overcome industry consolidation that leaves pharma organizations wanting for options.
Image source: http://www.foxnews.com/entertainment/2014/11/04/does-kim-kardashian-think-obama-is-up-for-reelection-today/