Effective Healthcare Marketing Strategies for Driving Pharma Sales

Effective Healthcare Marketing Strategies for Driving Pharma Sales

Healthcare marketing is a strategic process of promoting healthcare products such as pharmaceutical products (drugs, vaccines, medications, antibiotics, chronic disease medications), medical devices, diagnostics and testing kits, and medical supplies to various stakeholders such as Healthcare Professionals (HCPs), over-the-counter stores, hospitals, caregivers, and patients.

However, pharmaceutical companies' major target audience for prescription drugs comprises healthcare professionals. Marketing products to these professionals can be challenging for various reasons. Some physicians operate their own clinics, while a few others work across multiple clinics or hospitals, making it difficult for life sciences companies to identify key decision makers.

According to a study, pharmaceutical companies usually spend at least 20% of their budget on marketing, and 84% of these efforts are directed toward physicians. This is because, according to manufacturers, physicians are the key decision-makers in drug sales.

Challenges Encountered in Pharmaceutical Sales

Physicians are busy professionals and obtaining their appointment can really be painstaking for medical sales professionals. Apart from being difficult to reach, these physicians are already prescribers of some or the other pharmaceutical brands, and convincing them to switch to your product can be even more challenging. However, by executing some simple strategies, sales representatives can drive their pharmaceutical sales forward.

Segmenting Physicians Based on Their Specialties, Prescribing Behaviors, and Practice Settings

konectar - Segmenting Phycians

Understanding the unique needs of HCPs is key to developing a successful marketing strategy. For example, a cardiologist may prioritize information and products related to new cardiac treatments, while a dermatologist is more interested in skin care products or techniques. By gathering feedback from current HCPs and staying informed about market trends, MSLs (Medical Science Liaisons) can tailor their marketing efforts to resonate with each speciality's unique preferences and priorities.

Also, physicians may have different prescribing characteristics based on their expertise, patient demographics, and medical preferences. Some pharmacists prefer to prescribe branded medicines, while others prefer generics. By analyzing prescribing behavior data, healthcare marketers can identify patterns and trends, allowing them to better strategize their marketing efforts and target physicians who are most likely to prescribe their products.

Also, physicians practising in different settings, such as hospitals, clinics, or private practices, may have varying needs and priorities. For example, physicians working in a hospital setting may prioritize access to advanced medical technologies and treatments, while those in private practice may focus more on patient satisfaction and practice efficiency.

Strategies for HCP Engagement