Pharmaphorum | David Logue
The pharma
industry is working hard to keep pace with a changing health consumer, to
harness advances in digital technology, and adapt to a health
outcome-orientated environment. Though an industry that is often a conservative
adopter of new technology, its chief marketing officers (CMOs) and chief
information officers (CIOs) need to work together to reap the benefits of using
digital strategies.
The digital age has ushered the need for pharma companies to rearrange the way they do business to meet the needs of health-aware consumers. Digital social platforms, analytics and novel databases were just emerging concepts a few years ago, but now they play a significant role in selling and marketing products.
Functional silos no longer work, and CMOs and CIOs need to collaborate further. CMOs and CIOs from many of the largest pharma companies ($5 billion+) were surveyed to understand how digital strategies and capabilities were impacting their businesses, and what challenges they face.
In other industries, it is no longer about whether CMOs and CIOs should coordinate, but rather how. Yet the debate rages on in the pharma industry and executives must identify where the gap may be largest and agree how to close it.
Agreement lacking
There has been a greater recognition of the importance of IT in marketing and vice versa. But pharma's CMOs and CIOs cannot agree on how to collaborate, which may be hurting the industry's ability to take advantage of digital potential. There are discrepancies between how the two groups of executives view areas of investment, including analytics, big data, and customer engagement.
Marketing and IT are challenged by rapidly shifting digital demands. However, attitudes must change for pharma companies to succeed during this time of rapid digital and technological transformation.
The digital age has ushered the need for pharma companies to rearrange the way they do business to meet the needs of health-aware consumers. Digital social platforms, analytics and novel databases were just emerging concepts a few years ago, but now they play a significant role in selling and marketing products.
Functional silos no longer work, and CMOs and CIOs need to collaborate further. CMOs and CIOs from many of the largest pharma companies ($5 billion+) were surveyed to understand how digital strategies and capabilities were impacting their businesses, and what challenges they face.
In other industries, it is no longer about whether CMOs and CIOs should coordinate, but rather how. Yet the debate rages on in the pharma industry and executives must identify where the gap may be largest and agree how to close it.
Agreement lacking
There has been a greater recognition of the importance of IT in marketing and vice versa. But pharma's CMOs and CIOs cannot agree on how to collaborate, which may be hurting the industry's ability to take advantage of digital potential. There are discrepancies between how the two groups of executives view areas of investment, including analytics, big data, and customer engagement.
Marketing and IT are challenged by rapidly shifting digital demands. However, attitudes must change for pharma companies to succeed during this time of rapid digital and technological transformation.