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Mеdiсаl Marketing Strаtеgу

October 26, 2018

Medical marketing is a concept that is familiar with many physicians and clinics. It is now a widely accepted notion that without a comprehensive medical marketing strategy, a drug launch would be unlikely be as successful in the acquisition of new target patient population.

The basis of a medical marketing strategy involves the following basic points to consider:

Market Research: Conduct surveys, consult with market gurus, patient feedback forms, customer survey inputs, comparison of business plans and any other means of gathering information of the competitive market place is effective in drafting a comprehensive business marketing strategy. Take into consideration the market dynamics such as different brand positions, pharmaceutical firm tie-ups and established competitors.

Analytics: Spend time analyzing your competitors, consider their hold in the target segment, any forthcoming product launches and how will it compete in the market. In short, you need to know what makes you unique and sets you aside from the market competent.

Set a goal with a defined vision: Where do you see your organization stand in the next five years? What is your organizations corporate branding goal? What resources would you require to meet your objective? Make a list of all the resources and tools that you may have at your disposal. Try and determine which option would help you best in marketing your product in the marketplace and the expected expenditure.

Establish a strong support structure: Find the innovative minds in your organization. Build a team of experts who share your passion and will help support your medical marketing efforts through conferences, exhibitions, newspaper interviews, pharmaceutical newsletters and press media releases.

Select a market segment: It is best to know which segment of the patient population you wish to target. Use some out of the box thinking. Learn about the sources of income, where does the business revenue flow from, is your business a result of patient referrals or is it physician driven.

Budget of your firm: When designing a market strategy, keep the budget of your organization in mind. Remember that 80% of your sales come from 20% of your customers. Shift your focus to the top segment and make sure your plans have the greatest impact when presented to them. List down the activities that need to be done in-house and the activities that you might need to outsource.

Increase in Creativity: Give way to your creativity. Innovate and think of new concepts. Keep your ideas in sync with your vision and the organization’s goals.

Share your vision: Share your organization’s vision with your employees, partners, share-holders. Make them fall in line with your goals. This will help strengthen your marketing strategy.

Time it right: Timing is everything. Determine when you are going to roll out your medical product. Avoid clutters and public holidays, when both readership and viewing sources are at a minimal. Set a good media plan in mind.

Measure all parameters: Whenever possible, try and incorporate an extensive call for action. Measure all parameters that can help track new patients, physician references, referrals from websites, еtc…. Take into consideration the preference of consumers so that you could increase your sales volumes.

Bear in mind that your marketing plan should be an integral part of your organizations dynamic culture. A well understood and executed plan by the top management would translate into direct profits to the organization at large.