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Optimizing Internet Marketing Initiatives in Pharma and Life Sciences

Source: www.e-tractions.com
Topic: Internet Marketing

Sort Desciption: pharma and life sciences Internet marketing. In future articles I will delve deeper ... Marketing executives are turning to Internet marketing as a more ...

Content Inside: Optimizing Internet Marketing Initiatives in Pharma and Life Sciences Wednesday May 17 2006 Hussain Mooraj The advent of the Internet as a legitimate marketing tool has created the first trackable mass-marketing channel. Today Internet marketing campaigns can capture even the most granular details of every interaction which can then be stored for individual and aggregate analysis. Internet campaigns unlike TV radio and print need not rely on post hoc statistical surveys with their inherent delay potential error and cost. This Alert article is the first in a series that looks at the potential opportunities and challenges found in managing the pharma and life sciences Internet marketing value chain. The purpose of this article is to set a framework for pharma and life sciences Internet marketing. In future articles I will delve deeper into each of the elements that comprise the value chain. Three trends are driving change: Pharma and life sciences CEOs are demanding better accountability and ROI from their marketing investments. Target audiences are increasingly using the Internet as a key component in making healthcare decisions. New drugs targeting smaller populations make traditional broadcast channels less desirable. Marketing executives are turning to Internet marketing as a more effective means to measure branding and sales impact along with the promise of a greater ROI than traditional marketing channels. Marketers in big pharma companies are looking to better understand this medium of communication and use it to develop a direct relationship to the consumer. The Internet marketing value chain can be segmented into three stages: awareness direct response (demand generation) and relationship marketing. These stages which are controlled by the analytics performed by the marketer are managed independently and powered by the analytics engine. Awareness In this stage Internet marketers strive to build recognition and relationships with their target au ...

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