Pharmaceutical Marketing Strategy Engagement
With the increasing competition from generic drug manufacturers and the entry of new players, pharmaceutical companies are facing difficulties in capturing the attention of customers. Moreover, the fast-paced transformations in the pharmaceutical industry have made it even more difficult for pharma companies to solely rely on their brand name and traditional advertising techniques to drive sales. With this, pharmaceutical companies are realizing the need to embrace digital transformation and leverage robust pharmaceutical marketing strategies to promote their product offerings.
The client is a pharmaceutical company based out of Ireland. The company was established in 1997. The company relied solely on TVs and print advertising techniques to promote their product offerings. However, these traditional sales and marketing approaches turned out to be costly for the company due to dynamically changing customer needs and requirements. With this, the company witnessed a huge loss in their marketing budget and this eventually impacted their sales rate. Furthermore, as customers accessed a multitude of platforms to make their purchases, the client’s inability to devise robust pharmaceutical marketing strategies resulted in revenue losses for the company. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering pharmaceutical marketing strategy solution.
The experts at Infiniti Research followed a four-phased approach to formulating a pharmaceutical marketing strategy. The approaches undertaken by the experts involved determining the client’s target audience, analyzing the competition in the pharmaceutical market in Ireland, setting up a marketing budget, and formulating a pharmaceutical marketing plan based on the insights obtained.
The experts also conducted demo marketing and promotional campaigns and monitored the results. As recommended by the experts at Infiniti Research, the client focused on social media and marketing through influencers. This helped the client to improve their brand presence on social media. Also, as suggested by the experts at Infiniti Research, the client developed messaging apps and chatbots to have a one-to-one conversation with their customers. This helped the client in increasing customer experience and further improved the company’s sales rate. Infiniti’s pharmaceutical marketing strategy helped the client to efficiently utilize their marketing budget and attract new customer segments through targeted marketing and promotional campaigns. Furthermore, Infiniti’s pharmaceutical marketing strategy helped the pharma company to enhance their profit margins by 37%.
Digital Marketing Strategies for Pharmaceutical Companies
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