The Big Shift

“The era of Big Pharma is gone,” says Kate Cronin, global managing director at Ogilvy CommonHealth PR, in discussing the Marketers Trends Report conducted by her company and MM&M. The loss of blockbuster brands in the market is reshaping the budget curve.

The report data shows significant budget movement between tactical buckets with more going to digital at the expense of the more traditional channels. Further, smaller companies (<$500M) are seeing larger marketing budgets, while medium and large companies posted a loss.

The marketing budget breakdown allocates 75% to healthcare professionals and 25% to consumer targets. There is also a growing focus on NPs and PAs. As attention to adherence intensifies, pharmacists are becoming more of a targeting opportunity. Brand messaging campaigns are beating out unbranded this year, and there’s a heightened need for customer engagement from both HCPs and consumers.

If you’d like more details from the report or to discuss implications for the healthcare publishing industry, let us know. We’re always here to help.