Next Generation Marketing Skills – Asrar Qureshi’s Blog Post #1026

Next Generation Marketing Skills – Asrar Qureshi’s Blog Post #1026

Dear Colleagues! This is Asrar Qureshi’s Blog Post #1026 for Pharma Veterans. Pharma Veterans Blogs are published by Asrar Qureshi on its dedicated site https://pharmaveterans.com. Please email to aq.pharmaveterans@gmail.com for publishing our contributions here.

Credit: Artem Podrez

Credit: Karolina Grabowska

Credit: Timur Saglambilek

Preamble

The marketing landscape is evolving rapidly, driven by technological advancements and changing consumer behaviors. To thrive in this dynamic environment, marketers need to acquire a new set of skills. While consumer companies, rather non-pharma companies, have acquired new marketing tools and techniques, the pharma companies are still sticking to old ways of marketing, mostly. 

There are no specific skills for pharma industry in marketing domain, though there are clear indicators in research and development. However, the present relationship between companies and customers has become monotonous and stale and needs serious review.

In this post, I shall present the core marketing skills which have come into play and shall remain so. I may mention as a spoiler that most, though not all, are related to technology, which is our weak area so far. I hope that the pharma companies shall see the true utility and benefits of adopting technology and finally embrace it.

Data and Analytics

There is a lot of talk about data and data analytics and data-based decision making. The CRM software, sales data, and market data are important points for decision making.

The equivalent of CRM in pharma is Ikon, or MRep or IQVIA data to measure Sales Force Effectiveness – SFE. These programs provide information on coverage of customers, brick-wise sales, distributor-wise sales, territory sales, town sales, team sales etc. The data is updated almost in real time. However, it is just loads of data. It does not show anything unless it is organized in various forms, arranged to show patterns and trends, and comparison against various parameters. This is the job of the SFE team. On their working, many decisions should be taken about investment, specialty coverage, marketing plans preparation, activities, SKU – Stock Keeping Units availability, and a host of other things. 

The reality however is that SFE function is either absent, or compromised if present, and they are neither encouraged to report accurately nor accepted as team members. The sales managers openly talk about ‘interference’ from SFE, which ‘demotivates’ sales force. Obviously, the decision making remains arbitrary and hearsay based.

The first important next generation marketing skill is to become a proponent of data rather than an opponent.

Digital Marketing

Many pharma companies have ventured into digital marketing but are at a loss as to what to do. Pharmaceutical products cannot be advertised so the entire focus is on nutraceutical products, which everyone is advertising on social media, internet, and various related websites. The format is the same: a picture of the pack, some points about benefits, and this is it. Since everyone is doing the same thing, no one has any competitive advantage. Major portion of our population is illiterate or semi-literate, and this advertising does not reach them. It means that a majority is not even exposed to it. Everyone focusing on a smaller portion of market makes it even more competitive. 

Proper use of digital channels, analyzing performance and comparing it with sales is a critical area of work. However, digital teams generally work in isolation, or remotely from home, and do not interact with marketing and sales teams. This is a huge gap which must be filled to get the real benefits of digital marketing.

Among other hard tools, understanding how to optimize content for search engines is crucial for attracting organic traffic. Social Media Marketing is necessary to leverage platforms like Instagram, TikTok, and LinkedIn to build brand awareness and engage with audiences. Content Marketing with high-quality content that resonates with target audiences and drives engagement helps boost sales. Email Marketing through developing effective email campaigns will nurture leads and drive conversions.

Digital marketing is the current trend and is here to stay.

Artificial Intelligence (AI)

There appears to be a general sentiment that AI has nothing to do with pharma business in Pakistan. It is fancy talk which may be applicable elsewhere but not here.

A major reason for shunning AI is the availability of cheap labor. We prefer to fill offices with low-paid people who have compromised performance. Neither do we prefer higher quality, better paid staff nor do we wish to invest in technology. The most glaring example is that billions of rupees worth companies are still all kinds of pirated software. They are focused on cost, not performance.

AI-Powered tools for tasks like content generation, customer segmentation, and predictive analytics are just a place to start with. The data that is still worked on by multiple individuals is a job AI can do well, maybe better. The office routines are filled with repetitive tasks which can easily be assigned to AI. Making standard documentation such as purchase orders and sales invoices, based on entered data may be assigned to AI powered software. As mentioned above, the pharma companies generate and receive huge amount of data, analysis of which may be done with the help of AI.

Customer Experience (CX)

Candidly speaking, present relationship between pharma companies and doctors (the primary customers) is of the love-hate type. The companies are entirely dependent on them for generating business and show them love and congeniality and service and what not. Because the customers are consistently raising their cost for giving business, therefore, the companies hate them. They cannot leave them and cannot live happily with them.

In this scenario, customer experience is largely ignored. No one is looking at customer journey with the company. No one tries to know what he likes about it and its products and services and teams. The entire emphasis is on so called investment. It is time to change the angle. The investment shall not stop because it is the present norm, but the return can be increased. More importantly, there are still many customers out there whose private interest is in the products and sales teams working rather than money. 

Customer journey with the company must be mapped and kept alive to find gaps and opportunities. Using CRM tools to manage and analyze customer interactions can bring lot of useful information and ideas.

Personalization 

Tailoring marketing messages and experiences for individual customers – is it possible in pharma? I would say yes. The products shall remain the same, but presentations, services, rapport, and interactions can be tailored as per need. 

Currently, the salespeople are directed to visit every customer four times a month and they are judged on that. Some customers don’t appreciate weekly visits, others may desire even more. This fine balance can only be achieved with personalization. Similarly, companies spend millions on distributing common gifts and giveaways though it has been proven that these have zero impact. However, marketing teams still do it because they don’t know anything better to do. Another example is that no company, as far as I know, has translated their messages in regional languages. They are adamant on using English only and even insist that their salespeople must also talk in English. This age-old, slave mentality should be done away with now.

Sum Up

Whether we like it or not, accept it or not, the change has arrived and is here to stay. Those who will adapt to the new developments early shall lead the race while others shall be lagging and complaining of foul play.

Concluded.

Disclaimers: Pictures in these blogs are taken from free resources at Pexels, Pixabay, Unsplash, and Google. Credit is given where available. If a copyright claim is lodged, we shall remove the picture with appropriate regrets.

For most blogs, I research from several sources which are open to public. Their links are mentioned under references. There is no intent to infringe upon anyone’s copyrights. If, however, it happens unintentionally, I offer my sincere regrets.