Pharmaceutical executives in Europe and the US
expect to spend more of their future budgets on digital marketing channels like
mobile, e-detailing and SEO, according to a new survey.
Booz & Co questioned more than 150 senior industry executives and found
that while enthusiasm for product and disease websites, long a mainstay of
pharma’s digital marketing efforts, remained high, newer channels were likely
to be more popular.
Doctor-focused social media was highlighted by the largest group of
respondents, nearly 60 per cent, as an area where projected budget allocations
would increase. There were similarly dramatic trends for spending on mobile technologies
(which 55 per cent of respondents expect to increase); e-detailing (52 per
cent); and search engine optimisation (49 per cent), followed by product and
disease websites (48 per cent). At the same time nearly 40 per cent of the executives questioned said they
planned to cut back on print advertising.
The survey also found that many, but by no means all, respondents expected
sales force time for their primary product to decrease over the next two years. A drop in sales force activity was expected by 43 per cent of those
questioned and on average they foresee a 31 per cent decrease in sales force
time.
Meanwhile 26 per cent of people thought sales force time would increase,
with an average lift of 58 per cent, and a similar proportion – 32 per cent –
expect no change. But, as Booz notes, products slated for an increase in sales force time had
– predictably – a longer mean patent life remaining than those expects to lose
sales force time.
Booz, working with National Analysts Worldwide, surveyed 156 senior pharma industry executives from Germany, France, the UK, Spain, Italy and the US late last
year. Respondents mostly had responsibility for a product portfolio or specific
brand and with influence or responsibility for sales and marketing decisions.
Meanwhile, nearly a quarter of respondents (24 per cent) strongly agreed
that pharma's business model
was broken and needs significant repair,
while fewer than 10 per cent believe it is not broken, when questioned towards
the end of last year.