With E-commerce developing away from a technology-driven sphere to an increased user-driven focus, E-commerce as a whole has become interchangeable by definition with communication, strategy and business practices. In terms of the pharma industry, E-commerce contributes a more efficient manner of purchasing which allows for a greater competitive advantage and sustainable growth.
Additionally, the informed and emancipated modern-day patient holds more value on personalization, transparency and a greater convenience while they are taking more control of their own health. Due to these developments in the pharma sector, it is vital for the E-commerce leaders to provide the patient with personalized educational and informational content in order to satisfy their specific needs.
Content Marketing is conceivably one of a marketers’ most vital amenity, as all forms of communication connect the pharma companies and their patients, therefore delivering information, satisfying the customers need and improving health and financial outcomes.
With this in mind, it is unsurprising that content marketing for pharma E-commerce has been significantly improving and activities have been growing. On the other hand, this poses the question, of how pharma marketers are planning on managing the amplitude of digital content.
Why do E-commerce companies in the pharma sector need comprehensive content strategies?
In order to understand if a pharma company truly needs a content strategy, one must first understand what content marketing is. A leading global content marketing education and training organization, “The Content Marketing Institute”, has provided the following definition:
“Content marketing is the marketing and business process for creating and distributing relevant and valuable content to attract, acquire, and engage a clearly defined and understood target audience – with the objective of driving profitable customer action.”
In terms of e-commerce, content marketing can significantly alter the success of the business, while it also plays a critical role in engaging and activating patients. Demand Metric and Referral Candy both conducted studies in which they found the following results:
• 60% of people seek out a product after reading about it
• 90% of people find custom and related content useful
• 86% of consumers are willing to pay more for a superior customer experience
Major Challenges of content marketing in the pharma industry
The first major challenge of content marketing in the pharma industry is content marketing itself.
An estimated 31% of a total marketing budget is spent on content marketing overall, yet in the healthcare and pharma industry, only 23% of the total budget is spent on content marketing, already signalling that there is less focus on this channel.
When I attended the Digital Pharma Conference in London in January 2017, a question was posed by a speaker: “When did you update the content on your website for the last time?” The majority of the participants could hardly remember their answer, therefore further proving that content marketing is not focused on.
Additionally, the pharma industry and pharma e-commerce specifically, have not yet succeeded in determining the optimal use for content marketing. The sheer lack of a comprehensive content strategy and its’ objectives therefore also puts the increased investment into pharma e-commerce at risk.
This is especially alarming when reading figures such as 58% of pharma/biotech and 60% of medical tech companies spend more than $50 million on content each year, that without a content strategy will not yield a positive return on investment.
By the same token, content strategies and objectives are not clear to most marketers in the pharma industry, with only 11% of marketers in the pharma and biotech industry reporting that they have a clearly documented content strategy which meets their current and future needs. This is staggeringly low in comparison to the 42% of marketers reporting such content strategy across all industries.
Accenture Interactive conducted the “Inaugural State of content survey” in which concluded out a four-way tie for the predominant reasons as to why the pharma industry is contending to create and manage content strategies:
• 25% lack of appropriately skilled talent
• 25% lack of integration across channels
• 25% poorly laid out marketing strategy as a whole
• 25% not enough balance of on/offshore solutions
Overall, a shift in perception of content marketing in pharma e-commerce is needed. As explained above, content marketing in the pharma industry has much more to offer than a simple medication summary and an un-engaging blog post about clinical trials.
Through this valuable information we can easily understand a comprehensive career in this content writing filed ( focus on Pharmacy & Bio-sector branches students)
Note: We do not own this content, we have been inspired to use this content for the educational purposes and betterment of our students.