President- North America
The implementation of an AI-powered solution empowers healthcare publishers to elevate their inventory on Point of Care platforms. By analyzing and interpreting analytics via AI technologies, publishers can employ programmatic measures that will maximize the value of their inventory. Therefore, technology partners with AI proficiencies for programmatic efforts guide healthcare publishers towards strategies that are supported by statistics that will positively impact the company’s bottom line. With an analytical approach, healthcare publishers can enrich communications and deliver more value for marketers with meaningful interactions with physicians on Point of Care networks.
Data-based insights to target audiences
For publishers to elevate the significance of their inventory, precision targeting capabilities via AI-powered technology provides a dynamic resource to better monetize their offerings. With the ability to understand the behaviors and preferences of their audiences, healthcare publishers are equipped with the insights to guide their methods to determine the ad slots that garner premium prices and elevates a brand’s messages to their sought-after audience. Further, the data on the preferred ad formats of physicians, nurses and additional medical professionals, enable healthcare publishers to sell their inventory at a higher cost with the metrics to support a superior ROI that brands receive by distributing messages via the digital channels that increase business outcomes.
More effective communication results on Point of Care channels
To raise inventory bids, it’s essential to gain a deeper understanding on a physician’s communication preferences for the type of messages and formats that are more powerful to utilize during marketing efforts. With access to the analytics to examine Point of Care channels, an AI identity-resolution technology such as Doceree’s ESPYIAN offers publishers the ability to comprehend the type of content that will increase traction with their targeted audience. Exposure to sought-after physicians and medical professionals that are documented via ESPYIAN elevate the monetization opportunities for healthcare publications to boost inventory rates for marketers to communicate with this niche healthcare audience.
Enrich programmatic offerings with the real-time performance metrics of ad slots
With access to the real-time metrics of ad slots with Doceree, healthcare publishers are able to optimize the performance of their advertising offerings. Further, the media entity has the aptitude to actively monitor the success of campaigns, and a partnership with an AI technology company enables publishers to decipher the performance of active marketing campaigns. If the user behavior shifts, then publishers gain the knowledge to adjust their inventory accordingly to minimize the period of missed income opportunities. With access to real-time data, healthcare publishers are afforded the chance to maximize the value of ad slots with the latest statistics to introduce their platform to some of the highest bidders in the category.
Access to an AI-powered platform rewards publishers with the power to maximize the value of their inventory. Without the usage of AI, these healthcare media companies stand to miss out on revenue generating openings that may be overlooked without an AI solution that monitors and analyzes the selling behaviors on the platform. With advanced technologies working to identify audience behaviors, inventory rates are heightened to have the investment in analytical tools garner impressive business results for healthcare publishers.
Doceree’s Market Research Department
You’ve created a revolutionary drug that will change the lives of countless individuals. Now all you need is for physicians to prescribe it and people to actually buy it. So, how do you make sure you get the expected sales? How do you prevent failing during your drug launch?
Studies show that around 50% of drug launches for the last decade have fallen short of expectations.In fact, more than 25% have failed to reach even half of their external revenue forecasts.
The industry has long been battling issues around patent protection and failed drug launches. Factors such as increasing competition, high-cost for development of new drugs, and shortening times to peak sales have affected pharma companies’ chances for success. In this piece, we cover five essential steps that will position a brand to successfully launch a drug.
Effective Strategy and Planning
Start by laying the framework for your success. Once your drug is ready to get into the market, it may already be too late to plan your sales approach. Which is why it’s very important to develop your strategy early. A victorious launch takes planning and the right approach by a skilled marketing team.
A lot of drugs fail during the launch because the team had no concrete plans. Also, many brands run out of funds before they can even put the drug in the market, since they do not plan for the development stage, which can often cost around two-thirds of the allocated funds for the project. Having a solid blueprint and keeping the budget under control will help prevent financial loss. Therefore, developing an end-to-end plan that ties everything together can significantly improve your chances of success.
Advanced Market Research
To know the expectations of your target audience, whether it’s a patient or physician, you must do thorough market research. Market research includes analyzing information about customers and competitors. If done properly, it can help you possess knowledge about what problems your product will solve and why people will choose your brand over your competitors.
One of the most effective ways – pharma companies get ahead by being patient centric. This means that they properly address needs and create awareness about a disease, not just the product. They’re also willing to train professionals and make the medication accessible to all patients. Since price increases drive the growth for pharmaceutical companies, a low-priced product can be used as a competitive advantage.
Target Prescribers and Patient Population
Sales executives know how hard it is to gain access to physicians. Many physicians today have been limiting the number of pharma reps allowed to meet with them. Because of this, executives frequently encourage marketers to use a precise technique to reach physicians via digital platforms to more efficiency interact with healthcare professionals. A poor industry practice done by many companies is marketing only to the most influential physicians. By doing this, they’re missing the opportunity to create advocates among additional day-to-day prescribers while they are on point-of-care platforms tending to patients. There are many ways to do this on virtual channels and here are some of the most effective:
Use big data to collect prescriber profiles
Tailor messages to individual physicians on point-of-care and endemic networks
Reach out on various online communication platforms, so your prospect isn’t fatigued by your consistent follow-up
Demonstrate understanding of the average patient’s situations and prescribing behaviors
Support physicians in real time by giving them answers to their medical questions, while they are in the medical mindset on point-of-care channels
Stand Out from the Competition
Finding ways to differentiate your drug from your competitors will require clinical trials, market research and better product development. More than 40% of drug launches suffer because the product’s proposition didn’t provide compelling enough value to patients or physicians.
Good product differentiation includes introducing unique features that are first of its kind within its market. In other words, these are drug properties that are valuable and not part of your competitor’s drug. Of course, to know this, you also have to do your competitor research. Many companies are researching the same diseases and end up battling for the market as early as the research phase.
The value of being first in bringing a drug to market is well-known in the pharmaceutical industry. Companies are spending money just to beat their competitors, in fear of being late and having a commercial disadvantage. Based on research, first-to-market drugs always have around a 6% advantage compared to later entrants.
So, if you want to succeed in any launch, you must get into the spot early and win the pre-launch years. Hence, before the launch, start creating awareness about your product and look for advocates and influential physicians who can help spread the word about your product.
To market your new drug like a pro, you want to generate buzz about your product so that people will actually look into it. When you’re launching a drug into the market, there will always be risks involved. The tips above are simple but effective ways to avoid the pitfalls of launching a new drug in the sector.
PM360, a publication for marketing decision makers in the pharmaceutical, biotech, diagnostics, and medical device industries, recently named Doceree founder and global CEO Harshit Jain MD as a Trailblazer Vanguard Award finalist.
Harshit Jain MD is the founder and global CEO of Doceree, a company he founded to bring precision in HCP marketing via the power of digital. A healthcare innovator, he is aiming to address the acute problem of rising cost of healthcare by bringing in efficiency and effectiveness in marketing to Physicians by pharma brands on digital platforms with methodical use of data and creativity
Since 2009, the PM360 Trailblazer awards have recognized outstanding achievement and innovation in healthcare marketing. Each year, nominations are judged by the PM360 Editorial Advisory Board, a distinguished cross-section of industry experts.
The Vanguard Award, which was just added last year, honors an industry pioneer who developed a new service, strategy, product, or technology that greatly impacted the industry.
The accomplishments of this year’s finalists are already deeply ingrained in our industry, says Anna Stashower, CEO and Publisher of PM360. Thanks to their work our industry now has a physician-only programmatic marketing platform, a patient-support program that is driving improved adherence rates, a social health prescription that guides patients to personalized help for them, and a new way to utilize modern MarTech while enabling marketing sophistication. These leaders are proving that one good idea and a whole lot of work can transform lives
PM360 is the premier, must-read magazine for marketing decision makers in the pharmaceutical, biotech, diagnostics, and medical device industries. Published monthly, PM360 is the only journal that focuses on delivering the full spectrum of practical information necessary for product managers and pharmaceutical marketing professionals to succeed in the complex and highly regulated healthcare environment.