RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--From initiation of digital marketing strategies to their platforms’ detailed executions, almost all biopharmaceutical and medical device companies are outsourcing a portion of their digital marketing activities, found a survey by Cutting Edge Information.
The new survey data found in, “Pharmaceutical Digital Marketing: Transforming Your Multichannel Marketing Mix to Unlock Brand Value,” revealed that a majority of companies share execution duties and collaborate with agencies when developing strategies. However, companies may also choose to employ vendors to execute the digital marketing or strategy development alone.
Companies participating in this study view their partnerships with vendors as important and noted vendors’ abilities to accomplish key activities surrounding digital marketing. The advantage of partnering with vendors lies in their abilities to provide resources and proficiency to digital marketing teams. Working with vendors, companies can overcome technological barriers and other platform development challenges by addressing strategy first.
“For many surveyed companies, vendor involvement is highly beneficial, especially concerning strategy development,” said Sarah Ray, research analyst at Cutting Edge Information. “Digital marketing has the potential to provide significant ROI, but only if the initiatives are implemented on a large scale. “
Often, companies may envision particular elements of digital marketing that they want to provide but fail to design an overarching digital marketing strategy. Vendors note that it is essential to discuss strategy, instead of just tactics, and for companies to anchor digital marketing programs to long-term plans for success. Working under the umbrella of a broader strategy forces companies to evaluate individual initiatives’ capacity to contribute to digital presence goals. Vendors help teams focus on developing customer-centric initiatives that can adapt to mobile platforms and contribute to fostering an online community.
The study, “Pharmaceutical Digital Marketing: Transforming Your Multichannel Marketing Mix to Unlock Brand Value” (http://www.cuttingedgeinfo.com/research/marketing/pharmaceutical-digital-marketing-social-media/) addresses the potential for biopharmaceutical companies to expand their digital marketing reach. It explores online channels, including social media and mobile technology, which are growing within drug and device companies’ marketing media mix.
The study will help pharmaceutical marketing executives:
- Benchmarks digital marketing channel resources as part of their media mixes
- Measure ROI for digital marketing initiatives
- Increase digital marketing budgets and staffing resources
For more information about pharmaceutical marketing benchmarks, contact Cassie Demeter at 919-403-6583.
