Start-ups and tech giants are the future of pharma marketing

We are living in a revolutionary time of scientific change and innovation in pharma marketing – and the opportunities are tremendous.

To reap the potential rewards of the future, the industry needs to stay on the cutting edge of transformation by using all the tools at its disposal, from big data to digital marketing.

That’s according to a new Trends in Marketing report from eyeforpharma, which brings together a panel of industry experts to offer their insight on the future of pharma.

Innovation is disrupting the health system, they argue, turning traditional launch and marketing models on their heads.  It’s time to embrace a new model, one which will have patient centricity at its heart by adopting the “work backwards” approach favoured by start-ups and tech giants.

Lauren Robertson, global project director at eyeforpharma, said: “The medicines emerging from the pipeline are more complex and niche, prices are rising, health systems are demanding value, the stakeholder mix is diversifying, and patients are supplanting HCPs as the primary focus of activities.

“But what does this mean for marketers? It’s difficult to be sure, of course, but one thing is clear; never has innovation been more important, as those at the commercial sharp end seek new and compelling approaches to promote their company’s next-gen medicines.”

Contributors Bharat Tewarie, EVP and chief marketing officer at UCB, Fabrice Chouraqui, president of Novartis US, Sebastian Guth, chief marketing officer at Bayer, Mark Mallon, EVP at AstraZeneca and Nathalie Moll, director-general of EFPIA, discuss:

• The future of pharma marketing

New innovations are so different to the classical treatments we are used to that marketing is being turned on its head.

Being able to understand the patient of the future and engage with your customers is key to responding to this challenge, the report argues.

• Why pharma needs to adapt to a start-up mindset

The industry stands to gain from adopting a more agile way of working. As new technology disrupts the healthcare system, a product launch needs to be based on gathering data.

Prioritising learning over earning will help the sector understand the new world in which it is operating.

• Digital medicine

Tech in pharma is growing exponentially, allowing for improvements in areas from adherence to more effective use of healthcare staff.

Digital medicine holds the potential to transform healthcare – but what does this mean for marketing?  And how can its power be harnessed?

• Using AI to find insights in customer data

AI in pharma is helping the industry to hone its targeting tools. The technology holds the key to unlock the insights, from patients and HCPs, that would allow for true patient-centric, needs-based medicine.

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