May 04, 2021 / by admin / in: Blog
2020 was a busy year for pharmaceutical companies, and it was not limited to big companies. Pharmaceutical companies were required not just to provide high-demand products but to find new ways to reach their buyers. Pharmaceutical companies adopted digital transformation more than ever to publish regular educational content or for advertising.
Due to the many regulations made for the health industry to advertise online, adopting digital technology was slow. After the COVID-19 breakout, it has become a must. One of the reasons that have helped in the growth of the digital transformation is the tendency of health organizations to focus on raising awareness around safety measures and information related to the pandemic.
Social listening tools that are used as a part of social media marketing strategies, for instance, has been around for years, but in the medical field, it is not common, and using it is something new in online advertising.
In the US alone, the healthcare and pharma industry spent around $9.53 billion on digital advertising in 2020, up 14.2% from 2019. The most common ad format they used is the search ads, which consume 55.6% of digital spending, while 42.2% is going toward display ads.
When it comes to the type of devices that they target, smartphones come first, as most of the healthcare and pharma’s digital spending goes toward mobile (57.5%) in the US.
In 2021, pharmaceutical digital ad spend has increased to 40% overall and increased to 242% YoY (January-February 2020 vs 2021).
An example of how the pharma industry has stepped up its game in the digital world. PatientMeRx, an AI-powered application that is made to help pharmaceuticals get feedback on their medicines by collecting customers’ comments on those medications from various online platforms like social media, forums, and blogs.
In a nutshell, Due to the pandemic, embracing digital transformation and depending on digital marketing to reach people since 2020 is not optional.
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