Pharma companies have been criticised in the past for allowing marketing budgets to be bigger than R&D spend. While this may not be strictly true, has the shift to digital initiatives cut down on marketing spends? Where have the savings come from?
Up until 2020, pharma had fallen behind other industries for their investments in digital marketing. The pandemic served as a wake-up call, leading to a change in outlook. Business leaders have come to understand the potential of digital by looking at digital investments as a ‘growth-driver’ rather than a ‘cost-saver’. This in turn led to a rise in personalisation in terms of content creation and delivery along with new capabilities.
While this personalisation at scale required massive funds, our investments to realise these objectives have not seen a dip. Our momentum continues to stay strong, only our channels of delivery have seen a change. Digital is no longer viewed as an enabler, but an essential and integral part of the business model. This disruption has proven that only companies which are able to pivot to innovative ways of working, will emerge successful.
What are the regulations covering such digital marketing initiatives in India? Does the Uniform Code for Pharmaceutical Marketing Practices (UCPMP) hold for these initiatives too and are these sufficient? Any global benchmarks on this?
The code of conduct set by the UCPMP meant for ethical pharma marketing was not designed for a world of data, software, and digital. It was designed for a world of trade with limited focus on one stakeholder – the doctor. Already under pressure by pandemic induced changes, this code is inadequate to face critical challenges that new technologies pose. Critical aspects such as digital privacy and data protection is practised by pharma companies out of volition rather (than) it being a mandate. In some cases, platforms providers define terms of use. Simply put, UCPMP does not spell out much on digital marketing initiatives.
A prompt and appropriate response to changes and the rush to capitalise on growth opportunities calls the need for greater coordination and updated nationwide regulations. General privacy-focused regulations, permission-based marketing models that respect customer preferences, and judicious use of digital channels (e-mail, SMS, WhatsApp, online ads, website) are a much-needed requisite.
What was the fallout of the pandemic on pharma marketing channels? Did doctor engagements suffer in FY21 as compared to FY20?
While a digital strategy has been a part of organisational plans, we are now witnessing a move towards a digital-only strategy, to survive and to communicate with intended audiences. What initially started off as a compulsion, is now steadily progressing towards convenience. The industry realising the potential in setting up dialog with doctors and patients in a new way, one that goes from digitisation to personalisation. COVID-19 has changed priorities in the healthcare industry and companies are conscious of the fact that in a post-COVID-19 world, pharma sales and marketing will use more of digital platforms and interactions. This change has led to an evolution of the marketing and medical function’s capabilities. Increasing emphasis is being given to the role of technology and new channels, like emails, remote calls, messaging, webinars and social networks available to enable new modes of CX (customer experience).
Digitally, we have been directly in touch with our network of over 30,000 HCPs nationwide, along with over 20,000 HCPs through our partner channels, making our total reach over 50,000. We have continued to emphasise on the quality of interactions rather than quantity and deploy a mix of complementary channels such as Veeva approved e-mails and phone calls. Through our initiatives, we have been able to maintain close to 90% pre-pandemic HCP interaction levels.
Is digital the new normal for pharma marketing in the post-pandemic era? Especially with some hospitals charging consultation fees for MRs to meet with doctors? Are doctors now more open to digital CMEs, MR e-meets?
Doctors are more receptive to digital channels, and time spent on these channels has also increased, improving our opportunities to reach them. Digital channels give undivided attention and give the HCP and the company to not u...
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