“The only thing that is constant is change.” – Heraclitus
Keep you head up & look ahead
It is easy in Pharmaceuticals to have a heads-down approach to business. Brand managers and Marketing Directors are involved in micro-level decisions and can support multiple areas of the business, so can’t look objectively at the direction they’re going in. Resulting in gaps between a high-level plan and the actual operating experience of the business.
Why Is Course Correction Important?
According to Entrepreneur Europe, course correcting is an invaluable skill for entrepreneurs. It’s one of those skills that you either learn willingly or it drags you along with it, kicking and screaming the whole way. If you’re not course-correcting, you’re not taking enough risks.
If you are successfully course correcting, you are looking up out of all the every day busy chaos and evaluating if your strategy is working. You will most likely come to one of the follow conclusions:
1. The company is on-course and delivering as planned;
2. The company is off-course and the deliverables/mandate is still relevant; or
3. The company is off-course and the deliverables/mandate are not relevant anymore.
It’s through that exploration that you discover something new. If you find yourself never changing course, you’re playing it too safe. That mentality might be sustainable for a time, but eventually long-term success and growth requires a leap of faith (or 10).
Course Correction in Pharma Marketing
Pharma can use course correction with their marketing communications to appeal to different groups of people who live with the same disease, rather than one set of communications for everyone. This approach assumes that everyone is experiencing the same feelings, symptoms and issues when in fact an elder lady will have a completely unique experience of taking a medication in comparison to a middle aged gentleman. The elder lady will want to ensure her health is secure and the male may be more interested in getting back to work.
For this reason Pharma need to course correct their marketing to successful implement a more personalised and individual marketing strategy that resonates with all their patients not just one bucket.
Successfully Course Correcting to an Individual Marketing Strategy
Successful individual marketing shows the depth of your understanding of the customers you serve. It also promotes increased business by establishing a history of success. Customers who are satisfied with the services or products they receive will likely return and refer others. It requires a company to be flexible, to change its behaviour for one type of customer, based on what it knows about the customer and what the customer reports.
PatientMetRx® allows you to efficiently and effectively course correct your marketing communications to target specific patients that have unique experiences. PatientMetRx® provides you with a Patient Confidence Score against 130,000 medicines. This score represents the feelings, symptoms and sentiment that your patients express towards your brands online. Using smart social listening technologies coupled up with AI & ML, we can provide you with the true voice of the patient. If you could understand how your patients feel and what they go through every day, do you think you could better connect with them through your marketing communications?
Find out by booking a discover session here. We will get the insights you need so that your brand planning for 2022 is more patient-centred than ever.
CHRON, (2020) ‘The Advantages of Individual Marketing’ Available at: https://smallbusiness.chron.com/advantages-individual-marketing-31178.html#socialshare [Accessed 3 September 2021]
Entrepreneur, (2015) ‘If You’re Not Course-Correcting, You’re Not Taking Enough Risks’ Available at: https://www.entrepreneur.com/article/248058 [Accessed 3 September 2021]