Companies in the pharmaceutical industry share many of the same concerns, challenges, and strategies as any other commercial enterprise with a few notable exceptions. Most of these differences revolve around the fact that the products are designed specifically for healthcare applications. This means companies have to navigate relatively strict regulations in their marketing efforts and typically rely on physicians as a gateway to the actual consumers.
Know the Rules
Pharmaceutical companies can suffer serious consequences in terms of fines and damage to brand image when they violate the rules of their industry. Drug makers have to be careful when advertising the effects of their product to avoid exaggeration or misleading information, as these statements can expose them to liability. Companies in this industry are also bound by official rules of conduct that outline acceptable and unacceptable behavior when marketing to doctors or patients.
Avoid Information Overload
Sales representatives are often armed with an armory of brochures, statistics and research papers that validate their claims regarding a drug’s efficacy. Compelling scientific evidence is incredibly valuable and useful in marketing efforts, but it’s easy to overdo it. Salespeople should minimize the total amount of information they include in their presentations and focus on a few facts or figures that really underline their point.
Focus on Problems and Solutions
People aren’t usually interested in the complexity or biology behind a drug’s effects. Human beings are driven by problems and solutions, and these decisions are driven by a combination of critical thought and emotional impulse. Effective representatives understand that the ultimate appeal of their product is the solution that it offers to the patient. That’s why it’s helpful to emphasize the product’s impact on a person’s lifestyle or professional endeavors.
Build Trust through Transparency
Since lives may literally depend on their products, healthcare and pharmaceutical companies are often held to a higher standard than other businesses. Creating trust with professional doctors and the general public is essential to establishing a strong and reputable brand image. Using an aggregate spend compliance solution can be an effective and affordable way for companies to ensure responsible operations, utilize data and connect with others in a positive way.
Promoting a business requires intimate knowledge of the company, its products and the target audience. While marketing directly to the public is an important part of brand development, pharmaceutical companies often emphasize their outreach to professional physicians and other healthcare providers. These professionals are already knowledgeable in their field, so salespeople are expected to deliver scientific evidence and articulate their points accurately when presenting products.