The Pandemic was a wide awakening to the global population, and the pharmaceutical industry was no exception to this widespread enlightenment, making the pharmaceutical industry realise that their traditional methods of marketing drugs aren’t exactly working. The insufficiency of traditional pharmaceutical marketing can also be due to the rapidly evolving digital environment and heightened competition, and the solution is digital drug launch strategies.
Data-driven approaches are revolutionising drug development and marketing. There is plenty of data that a pharmaceutical company can garner that can be of guidance and help in every stage of a drug launch. These vast amounts of data allow pharma companies to gain insight into doctor demographics, patient demographics, treatment efficacy, market trends and more, these data inform every stage of a drug launch.
But, this is a lot of data to process, and too many sources to combine them from, too much for manual labour, will take a lot of effort, time and money, AI algorithms can analyse what demographics require what drug more, and the side effects of existing drugs for a disease, all of which provide insights for developing a drug.
Coming to marketing, AI has plenty to offer it too. Doctor Data allows pharma companies to get insight into the ways they can influence doctors to prescribe their drugs. Most doctors are ethical and want the best for their patients, so to prescribe a drug doctors require a lot of information on the drug. Providing that information the right way, in the right medium, can be very important. Tools like Multiplier AI can segment collected data, and help deliver customised content that meets the specific needs of the customer.
AI can help with all these by providing insights for personalised marketing, and thus help the pharma companies to utilise manpower, advertising, and money efficiently, resulting in better sales. Marketing should not just be limited to doctors, patients do their research on the drugs, to be sure of the medicines they take. Patient data including customer feedback is used by AI to determine the needs of patients. But one should remember that brands cannot directly market to patients, but provide them information if they search for it.
There are many digital drug launch strategies to reach HCPs and patients, and as mentioned earlier AI provides insight that can be used to select how to reach out to potential customers. Multiplier AI provides tools to brands specifically to segment collected data and provide insights, for targeted marketing, communication etc.
To begin with, using Digital Marketing, information can be passed onto potential HCPs in the form of personalised Webinars, emails, newsletters, etc through digital mediums like social media. Since patients or relatives of patients often use search engines like Google, a website or blog would be a more suitable option, with an option to subscribe to newsletters, emails, etc. These can also be used to maintain constant contact and thus maintain trust.
Other strategies include Multi-channel marketing and Omnichannel marketing.
The selection of the perfect marketing strategy can be selected using the preference and need of the customer, which can be done with the help of AI-powered tools.
In conclusion, Pharmaceutical companies can no longer function efficiently solely based on traditional marketing methods but rather it is a need of the hour to integrate digital marketing into it. Tools like Multiplier AI are examples of how digital tools are an indispensable asset for a data-driven industry like pharmaceuticals, it is also critical for digital drug launch strategies.