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The pharma industry has a longstanding history of utilizing marketing strategies to promote products and services. In fact, it is estimated that the industry allocates billions of dollars annually toward marketing campaigns according to Statista. In recent years, there has been a noticeable shift toward influencer marketing expenditure; $13.8 billion in 2021, up from $9.7 billion in 2020. In B2B Pharma Marketing, influencers are dominating the social media healthcare space.

Influencer marketing is a tactic involving partnering with individuals who have the ability to “influence” the purchasing decisions of their followers. This includes social media influencers, bloggers, and celebrities. While this may seem like an unconventional approach for pharma, there are numerous advantages to investing in influencer marketing.

Influencers are Effective at Engaging Customers

For many, “Doctor Google” is the first stop but Google isn’t the only platform being used for information. Platforms like Instagram, TikTok, and YouTube are continuously becoming the search engines of choice. Nearly 40% of Gen Z members (born from 1997 to 2012) prefer TikTok or Instagram for online searches, according to TechCrunch.

These platforms can provide a space for you to engage with your audience and provide valuable information about your products and services. This helps to establish trust and credibility, which are crucial in the healthcare industry. Let’s not forget the power of video content, particularly short-form videos. Short-form videos are effective at connecting and educating your audience about your healthcare products and services.

Influencer marketing and short-form videos help engage customers on social media platforms like TikTok, Instagram Reels, and YouTube Shorts. Combining these platforms with the power of influencer marketing helps a brand connect to the right audience. The benefit of working with influencers is their ability to tap into existing trusted relationships. Influencers create authentic and personalized content that can help to increase brand awareness and engagement. 

By collaborating with influencers, Pharma companies can gain valuable insights and feedback from their customers, which can be used to improve products and enhance the overall customer experience.

The term “patient influencer” has emerged to describe individuals who use their platform to promote medications and medical devices from a user standpoint. These influencers offer Pharma marketers, the opportunity to leverage patient influencers’ personal experiences for the promotion of healthcare products and services. 

Damian Washington is a prime example of how a patient influencer can help influence their niche followers on what healthcare products they should purchase. Damian was diagnosed with Multiple Sclerosis. He has used his platform on Instagram and Twitter to help bring awareness and provide a sense of community for others suffering from this disease.

In an interview with EndPointNews, Damian states he doesn’t partake in getting paid to promote products. Damian works with various pharma companies on commercials and attended events for which he does get compensated. 

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A post shared by Damian Washington (@damianwashington)

Another great example is Gem Hubbard. Gem is a disability activist sharing her life in a wheelchair via her social media profiles. On Instagram, she boasts 75k followers and on YouTube, her videos have more than 3.7 million views. Gem gives insights into her day-to-day and promotes products related to her disability. 

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A post shared by Gem Hubbard 👩🏼‍🦽 (@wheelsnoheels_)

Key Opinion Leaders in Pharma

Key opinion leaders have been crucial in the healthcare industry. KOLs are considered physician influencers within the community. They deliver key content with credible information to their audience. Viewers trust KOLs for the same reason they trust patient influencers –  they provide relevant information that allows them to connect with their followers from a place of trust.

KOLs are highly influential individuals within their communities due to their extensive experience. They can effectively generate awareness and potentially increase sales for suppliers through their ability to impact purchasing decisions within hospitals or networks. KOLs are frequently consulted by pharmaceutical and medical device companies during various stages of product development and testing.

They provide valuable insight into disease states and existing treatments, as well as assist with clinical trial design, product improvements, and marketing strategies. KOLs can aid these companies in gaining acceptance for their products within specific hospitals or health networks through their familiarity and influence with the target audience.

TikTok is often perceived as a platform for younger users, but it is gaining popularity among people aged 35 and above. The number of users in this age group is steadily increasing. @Drspf on TikTok utilizes his platform to educate his viewers on all things skincare.

@drspf

Have you tried the #prescription #retinoid #twyneo yet? #drsugaiskincare #acne #tretinoin

♬ Sia – Xeptemper

FDA Advertising, Regulatory and Promotional Requirements

The proliferation of big pharma utilizing influencer marketing can be attributed to a number of factors. A primary reason is the increased rigidity of the FDA in regard to advertising and promotion regulations, making it more challenging and costly for traditional methods to reach customers. Patients are increasingly seeking out online sources for health information and guidance, rendering influencers an effective means of connecting with them.

However, it’s highly important to understand the regulatory requirements imposed by the FDA before collaborating with influencers. The FDA has general rules that apply, such as the requirement for all promotional materials to be accurate and not misleading. As well as the necessity for them to be submitted for review prior to publication.

While the FDA currently does not explicitly regulate influencer marketing, this could potentially change in the future. Therefore, it is vital to stay informed of the latest regulations and guidelines if working with influencers. 

Key Takeaways

It’s clear that the pharma industry is taking a cue from the rest of the digital world and investing heavily in influencer marketing. By partnering with influencers, pharma companies can effectively engage with customers and gain valuable insights to improve their products and customer experience. Two valuable assets for pharma companies looking to leverage influencer marketing in their marketing campaigns include patient influencers who share personal experiences with healthcare products and services and trusted physician influencers.

The use of short-form videos [on platforms like TikTok, Instagram Reels, and YouTube Shorts] is an effective way to connect with and educate audiences about healthcare products and services. It is clear that investing in influencer marketing can bring numerous advantages within pharma.

Engaging with health providers has been a notoriously difficult task. As mentioned in our previous blog, Covid-19’s impact has transformed the Pharmaceutical marketing landscape. From face-to-face interactions to fully digital efforts, the key objective is to reimagine how marketers engage with providers.

This means focusing on reliably targeting and connecting with the right HCPs and providing informative and relevant content. Creating the best plan for your long-term success begins with developing the right strategy. In this post, we will explore some of the ways to engage with providers to help you do so. 

Maximize Engagement with Distinct Media Preferences

To reach healthcare providers where they are and engage them digitally, pharma companies need to create digital experiences that empower them. But how can pharmaceutical companies best reach and engage HCPs? The answer lies in understanding providers’ media preferences. By understanding where HCPs spend most of their time, pharma companies can develop a compelling marketing mix to engage providers effectively. 

HCPs are using social media for professional purposes more than ever. Studies have shown that providers are using social media for open conversations about clinical trial results, the latest treatment options, public health, and patient care. With providers now open to professional and product messages on social media channels, making the most out of multiple channels will help reinforce your messaging and encourage more engagement. 

Most HCPs use social media as a place to create communities with their peers on platforms such as LinkedIn, Facebook, and Twitter. Pharma marketers can deliver credible, concise, and educational content including infographics, charts, and short messages with visuals via social channels to best reach providers. Making the most out of these channels is essential when effectively engaging with providers 

Make the Most out of Email Marketing

Email is the number one preferred marketing tool by HCPs. According to HealthLink Annual Report results, HCPs prefer to be reached via email for industry-related interactions. As HCPs have a greater demand for educational resources, it’s crucial for pharmaceutical companies to provide them with valuable materials. With this in mind, pharma marketers must implement the following three steps when creating an email for maximum engagement:

1. Think creatively. Focusing on visual design will help reinforce brand recognition and increase the visual appeal of the message. This will encourage healthcare professionals to take action. 
2. Focus on responsive design. Take into account where HCPs view emails. For the most part, this includes mobile devices. If there is an extended load this may lead to decreased response rates negatively impacting your message.
3. Customize your content. HCPs are not one generic audience. Promoting irrelevant content to HCPs negatively impacts any potential revenue and decrease brand trust. Personalized subject lines yield higher open rates resulting and personalized messages yield increased engagement.

Focus on Niche Content

Physicians are most likely to engage with condition-specific or disease-state content and value information from trusted medical and regulatory resources. In addition, HCPs have been shown to value content that helps them better serve their patients. However, in a report conducted by Accenture, 64% of HCPs said they’re getting too much digital content, and 65% say digital marketers spam them. How can marketers avoid poorly programmed campaigns, irrelevant content, and spam-like behavior? Simple, build trust with personalized content.

As providers increase expectations, pharma companies are venturing out to gain time, trust, and influence with HCPs and their patients. Niche content can be packaged as blog posts, e-books, Infographics webinars, white papers, podcasts, case studies, videos, and more. And include medical education, patient education, and disease state information. Making sure you have specific content that delivers value is key to improved engagement.

Engagement & Retention 

The number of information physicians have to keep up with combined with the time constraints they face throughout the workday has a significant impact. Digital marketing allows pharmaceutical companies to reach physicians where they spend most of their time – online. However, an online presence is not enough to guarantee engagement and retention. 

• Reading has a 10% retention at 2 weeks 
• Hearing words has a 20% retention at 2 weeks 
• Looking at pictures has a 30% retention at 2 weeks  
• Watching a movie/demo has a 50% retention at two weeks 
• Short-form videos are over 8x more efficient than long videos.

Regarding engagement and retention, pharmaceutical digital marketing is most effective when it uses short-form videos. Learn more about short-form video in one of our previous blog posts. Short-form videos are more efficient at engaging and retaining an audience than long videos. So, if you want to ensure that your target audience sees and remembers your message, focus on creating short, value-driven, and engaging videos.

Key Takeaways 

By now you should have a better understanding of some of the key tenets of engaging providers intelligently. Whether through maximizing engagement with distinct media preferences or making the most out of email marketing’s popularity, focusing on delivering niche content, or making sure to explore the best avenue for provider engagement & retention. HCPs want value and for maximized engagement, pharma companies must cater to the increased demand for content that matters. In the final part of this Pharma B2B Marketing series, we will explore why influencer marketing works in Pharma B2B digital marketing. 

The pharma B2B digital marketing landscape is changing rapidly. Several factors are accelerating omnichannel adoption within the industry. This three-part series will explore some of the most critical components driving pharma B2B digital marketing changes and how companies can benefit from these changes. From the importance of data to omnichannel strategies, we will cover the trends shaping the future of pharma B2B marketing.

Covid’s Effect on Pharma

Covid-19 has posed an unprecedented challenge to the pharmaceutical industry, radically altering care delivery. Access constraints due to covid for in-person interactions have long been the foundation of the pharmaceutical sales model. However, the COVID-19 pandemic created an environment where these interactions are no longer safe or efficient. And with the amplification of remote engagement, connecting with patients and physicians in a remote setting has become essential. 

With the pharma industry now worth more than a trillion dollars after the COVID-19 pandemic, pharmaceutical companies are forced to pivot to digital channels and are transitioning into innovative sales and advertising initiatives. And the best way to do so has been via omnichannel marketing. An omnichannel approach has the customer at the center using all available media channels rather than a multichannel approach that is centered around the product or service, helping companies focus on improving how HCPs cater to consumers.

Data, Analytics, and Technology

The proliferation of data and analytics is evolving digital marketing in Pharma. To execute effective omnichannel campaigns in today’s competitive market, pharma marketers must have access to the right data delivered in an actionable way. Brands need data that is comprehensive, accurate, and rapidly available. Using tools that will help them understand what patients and HCPs do after seeing their ads and how to optimize all marketing touchpoints is key. Companies can also use data analytics to accelerate drug discovery and development, improve drug efficacy, enhance safety and risk management and gain insight into target patient populations.

According to Silicon Valley-based Treasure Data, capturing large volumes of consumer data and unifying it creates a better relationship between field teams and HCPs, leading to enhanced execution of marketing plans and a direct uplift in sales. Data and analytics of patients across all provider encounters lead to faster, more accurate diagnoses and better outcomes. Additionally, advanced analytics tools are helping companies make sense of this data and glean insights that can improve their marketing efforts. Social media, medical records, and other primary sources of big data can help pharmaceutical companies utilize this data for better reach and engagement. 

Customer Expectation

According to an article by Retail Dive, Omnichannel marketing is now the baseline customer expectation. With this in mind, there are two areas to consider when catering to customer expectations:

1. Prior Omnichannel Engagements with Hospitality, Retail, and Financial Industries 

Across industries, customers have come to expect a seamless, omnichannel experience. To create a similar customer experience, pharmaceutical companies need to understand customers’ expectations. The best way to do so is by exploring prior omnichannel engagement with hospitality, retail, and financial industries. 

Customers in these sectors expect consistent messaging and branding across all channels. Pharma B2B marketers must provide an omnichannel experience that is familiar to the ones their customers are already experiencing. In addition, a personalized customer experience that meets specific needs will exceed customer expectations. 

2. Multi-generation customers, comprising digital native and digital immigrants

Companies are continuously adjusting their marketing strategies to target multi-generational customers as the world becomes increasingly digitized. This includes digital natives (those who have grown up with technology) and digital immigrants (those who have adopted technology later in life). 

Digital natives are used to getting the information they want when they want it and expect the same from companies. They are also more likely to engage with brands on social media and other digital channels. Digital immigrants, on the other hand, may need more education on how to use digital channels effectively. However, they will likely be more loyal customers once they are won over. 

Commercialization Cost

Commercialization costs are a significant factor driving the adoption of omnichannel digital marketing in the pharmaceutical industry. In addition, economic instability and inflation are continuously affecting drug affordability. The cost of raw materials, active ingredients, and intermediates drive pharmaceutical price growth worldwide, creating inflationary pressures. 

This is causing more countries to introduce price controls and regulations to combat these issues further. The rising costs in commercialization have given omnichannel marketing a boost within Pharma. The following factors have contributed to the acceleration in omnichannel marketing:

1. Wider Customer Reach Of Treatments For Rare Diseases And Small Patient Populations

The development of personalized medicines has increased the number of treatments for rare diseases and small patient populations. To reach these patients, pharmaceutical companies are turning to omnichannel marketing strategies. 

In addition, the increasing complexity of new molecules has required a more thoughtful approach to commercialization as target patient bases shrink and drug developers compete for dominance across more specialized therapeutic areas and smaller audiences. By using an omnichannel strategy, pharmaceutical companies can better engage with patients and maximize the reach of their treatments.

2. Selective, Targeted In-Person Engagements For Such Treatments 

In-person engagements with physicians and other healthcare providers are essential for pharmaceutical companies seeking to commercialize new treatments. However, these engagements can be costly and time-consuming. 

To maximize the impact of these interactions, pharmaceutical companies are increasingly turning to selective, targeted in-person meetings. By carefully selecting the doctors and other healthcare providers they meet with, pharmaceutical companies can ensure that their interactions are more focused and more likely to result in positive outcomes. 

Key Takeaways: 

The future of digital media is evolving, and the need to reach patients where they are as customer expectations continue to grow is essential. While omnichannel marketing is new to the Pharma industry, it is not unique to customers. Thus, creating a need to upskill teams to embrace and execute omnichannel effectively and compliantly. 

Pharma must embrace omnichannel marketing across all customer touchpoints taking into consideration the ongoing effects of Covid-19, the increased focus on data, technology, and analytics, increased commercialization costs, and keeping up with customer expectations. Part two of our Pharma B2B Digital Marketing series will explore the key tenets for engaging providers intelligently.

With the continuous rise in popularity of TikTok, investing heavily in short-form video content is vital. Studies have shown that Short-form videos rank #1 for lead generation and engagement and 54% of marketers surveyed, stated that their companies leverage short-form videos for maximum conversion. As an important element of your content strategy, understanding short-form videos and how brands are using them is key.

Next, we will dive deeper into what short-form videos are, their benefits, why you should include them in your content strategy, upcoming news, and how this will affect short-form video platforms.

What are short-form Videos?

Short-form videos are a type of video content that is typically shorter in length than traditional videos. They can range in length from a few seconds to a few minutes. Often used as a way to share quick, snappy content on social media platforms like TikTok, Instagram, Facebook, and Youtube. Short-form videos tend to be more informal and personal than longer-form videos. They regularly feature everyday people rather than professional actors or celebrities.

This makes them relatable and easy to consume. This has helped to make short-form videos extremely popular among social media users. While they may not be suitable for every type of content,short-form videos can be a great way to connect with your audience and build brand awareness.

Benefits of Short-Form Videos 

If you’re not already convinced that short-form videos are worth your time and investment, here are a few benefits that might sway you:

1. Capture Audience Attention

Short-form videos are more digestible than longer videos. With the limited attention spans of most social media users, you need to make your point quickly and effectively with a short video. People are more likely to watch and retain information from a short video than from a long one. As a result, businesses and individuals are turning to short-form videos to communicate their message effectively and efficiently.

2. Cost-Efficient

When it comes to cost efficiency, short-form video is the clear winner. Unlike traditional television commercials or web videos, short-form videos can be produced quickly and easily without needing a large crew or expensive equipment. They are shorter and less complex. Short-form videos are typically less expensive to produce than their longer counterparts.

Finally, due to their viral nature, short-form videos often have a much wider reach than other marketing materials, resulting in a lower cost per view. For businesses looking to get the most bang for their buck, short-form video is the way to go.

3. Versatility

Short-form videos are versatile. You can use them for everything from product demonstrations to customer testimonials to educational content and beyond. And because of its versatility, short-form video is perfect for just about any purpose. For businesses, short-form video is an excellent way to promote products and services. It’s also great for creating awareness and building brand identity. And because it’s so shareable, it’s a great way to reach new audiences.

When it comes to entertainment, short-form video is also extremely popular. Whether it’s funny clips or catchy music videos, there’s no shortage of content to enjoy. A well-executed short video will help you grab attention and stand out from the rest.

How to Implement Short-Form Videos into your Content Strategy

There are a few different ways you can use short-form videos in your content strategy. The first is by using them to introduce a new product or service. A great way to pique someone’s interest is a quick video showcasing how your product benefits the viewer. You can use short-form videos to give your audience a behind-the-scenes look at your company or product.

This is a great way to humanize your brand and show viewers. You can use short-form videos by using them as part of a larger marketing campaign. For example, launching a social media challenge encourages people to create short-form videos using your product or service. Not only will this get people talking about your brand, but it will also give you a ton of great user-generated content (UGC) to repurpose on other channels.

Meta and Google: Updates and Changes

1. Algorithm Changes

Meta executive in charge of Facebook, Tom Alison, announced in late April of this year, that Meta will be changing the way people are recommended posts in their main feed. Instead of prioritizing those from accounts they follow, Facebook’s new algorithm is going to start to heavily promote posts regardless of where they came from.

Combined with an increasing emphasis on Reels, the planned changes show how forcibly Meta is responding to the rise of TikTok. TikTok has quickly become a legitimate challenger to its dominance in social media. Instagram is already well ahead of Facebook in its push to show more Reels from accounts you don’t follow, or what the company calls “unconnected” sources.

2. Meta’s Post-Loop Ads & Google’s Youtube Shorts Ad Monetization

Youtube and Facebook have been trying to compete with TikTok’s platform’s popularity. A key challenge Meta and Google face is TikTok’s algorithm strength.

In an effort to combat this, Facebook has introduced a new ad format that forces viewers to watch 4–10 second videos after every few minutes of content. These post-loop ads will be incorporated into both Facebook Reels and Instagram reel’s for creator monetization.

For the last 2 years, YouTube has developed Youtube Shorts. Youtube’s strategy replicated TikTok’s creator fund and created a similar one called the “Youtube Creator Fund”. Youtube realized creators did not fully benefit from the fund and decided to incorporate paid ads in between videos to help monetize and shared among creators.

How Will Meta And Google’s Ad Changes Affect Your Short-form Video Content Strategy

Youtube, Facebook, Instagram, and Tiktok have been the favorite channels among consumers when purchasing goods through ads according to a recent study by Digital Information World. And who do consumers trust the most when exploring products? They trust influencers.

The study by Oracle and CRM Essentials illustrated how social media influencers have become a trusted source for consumers. With the capped amount of monetization a creator can make on TikTok, it is possible that Facebook’s post-loop ads and Youtube Shorts will slowly lure Influencers onto their platforms.

The generic format of ad placement between scrollable videos caused a disconnect between influencer buyer trust and branded ads. Utilizing Facebook and YouTube updates are crucial for ads.

Takeaway

Curating ads to translate the same trust as Influencer content will build brand trust with your target audience. However, this will depend on how genuine your content is along with the Influencer you hire to promote your brand.

In short, effective short-form videos are an excellent way to connect with audiences on various levels and can be used for a wide range of content marketing objectives. When creating your strategy, consider how you can best use each social platform’s capabilities to your advantage to maximize the impact of your content. And if you need help getting started, our team is always here to offer guidance and support.