What does omnichannel mean in Pharma? And what does digital disruption mean for this increasingly complex industry?
Omnichannel Pharma does not exist in a vacuum. Many industries launched large-scale omnichannel transformations years ago, and consumers are experiencing the benefits.
Of course, digitization has been gradually occurring for customers across many sectors, as the percentage of users who are willing/expecting to make digital purchases increases.
However, pharmaceutical companies have typically been lagging behind other industries in providing an omnichannel experience, since face-to-face communications are seen as beneficial as part of service delivery.
Pharma marketing notoriously relies on complex customer journeys. This has never been the case more than now, with customers' increasing digital expectations. That's where Omnichannel Pharma comes in.
If you're still deciding whether to create a digital/omnichannel marketing strategy for your Pharma business, or you're trying to get more digital buy-in, don't miss my free explainer blog 10 reasons you need…
Learn how to create a PESTLE analysis to identify threats and opportunities in the macro environment to guide your marketing planning
You may have heard PESTLE mentioned when studying marketing theory or in your workplace. It is a powerful, yet simple, analysis tool for overall business and marketing planning. In this blog we explain what it is, why it is useful, and how you can create your own PESTLE analysis for marketing planning today.
What is a PESTLE analysis?
PESTLE is an acronym that covers 6 key areas in your macro (external) environment. Each letter stands for a different factor, as shown in the graphic below:
Did you know? Sometimes it is referred to as a PEST analysis, or spelt ‘PESTEL’, but the most common acronym is PESTLE.
A PESTLE analysis is a framework to help you identify external factors - happening outside…
E-commerce 2023: The latest data and forecasts for all things online retail growth
It's interesting to look back at e-commerce growth over the last few years and think forward to the future of this industry. As demonstrated by these charts from Statistica, the annual revenues of the US e-commerce industry shot up in 2020 and 2021.
What's more, despite recent growth slowing slightly, Statistica Market Insights estimates strong continued growth in this area in 2023 and beyond.
The reasons for this are two-fold - the rise of revenue from total retail sales, both in the US and worldwide, and also stark growth in the % of the total retail sales being e-commerce.
This constitutes a much larger share than previously to the pandemic, showing that some of the rapid changes to…
7 steps ensure top-down strategic alignment between business strategy and partner marketing
Aligning partner marketing with your organization's overall business strategy and specific strategic initiatives is essential for driving success and maximizing the value that partners bring to an organization.
However, this alignment can often be challenging due to a lack of understanding and buy-in from internal stakeholders.
Before exploring practical strategies to bridge this gap, let's first clarify business strategy.
Harvard Business School defines Business Strategy as
“The strategic initiatives a company pursues to create value for the organization and its stakeholders and gain a competitive advantage in the market.
This strategy is crucial to a company's success and is needed before any goods or services are produced or delivered.”
Does your organization value partner as part of your overall strategy?
If the answer is “no” or “partly” then it will hinder the effectiveness of any marketing programme. There is a need to establish…
Thinking about your e-commerce marketing plan for 2024? Use the RACE Framework to create a focused and well-structured digital marketing strategy
In today’s e-commerce business landscape, there is no room for a lack of planning.
All e-commerce businesses should plan out the best e-commerce marketing strategies to attract and retain high-value customers online as part of their e-commerce strategy.
Without a well-planned e-commerce marketing strategy, sustainable growth will be inhibited.
An e-commerce marketing plan with quantifiable KPIs should be directly linked to the goals of the business strategy which considers the e-commerce marketing landscape as a whole.
Our most recent survey found that nearly half of companies don't have a clearly defined digital marketing strategy. Of those who do, the majority have integrated it into their overall marketing strategy.
What is an e-commerce marketing plan?
E-commerce marketing planning is about formalizing how you intend…
Selecting the best revenue model options for your digital business
A good revenue model is a proven technique used by digital businesses globally, from startups to global corporations, to generate income from traffic on their website, mobile apps, and via digital channels.
The 10 digital revenue model options explained in this include both ad revenue models and charging for access to a digital service including freemium revenue models where limited free access is provided with fees charged for the full service.
I created this post originally in 2010 to support a revenue model spreadsheet for site owners to forecast their revenue generation. The main parameters you need to set are the variables for each Ad Unit or Container Type (blue fields) and it works out the revenue earning (orange fields) for you!
The site ad revenue model
If you 'plug-in' some average figures for pay-for-performance-based advertising options like cost per click or cost per action…
Sources to research the importance of digital marketing in your industry sector
Are you investing sufficiently in digital communications? Naturally, digital marketing objectives for founders, entrepreneurs, and leaders of corporations will differ - as does optimizing digital marketing for businesses - but keeping your digital marketing strategy at the front of your mindset when planning for growth is the key to success for businesses of all shapes and sizes.
The Smart Insights RACE framework and growth system involves constantly scanning for new opportunities to help make your business more competitive using both the latest digital communications techniques and reliable, well-established techniques such as search engine marketing, social media and email marketing.
A strong digital marketing strategy means ensuring you're investing wisely and reaching, attracting, and retaining your prime customers.
In this article, I will recommend the best sources to help you review the importance of digital marketing for your business, structured around…
What goes into the Amazon marketing strategy secret sauce? Our business case study explores Amazon's revenue model and culture of customer metrics, history of Amazon.com and marketing objectives
In the final quarter of 2022, Amazon reported net sales of over $149.2 billion. This seasonal spike is typical of Amazon's quarterly reporting, but the growth is undeniable as this was the company's highest quarter ever.
There is no doubt that the e-commerce retail giant continues to lead the way in e-commerce growth. The Amazon marketing strategy we are familiar with today has evolved since it was founded in 1994.
I've highlighted the Amazon marketing strategy case study in my books for nearly 20 years now since I think all types of businesses can learn from their digital business strategy. Their response to the pandemic is impressive but not entirely surprising…
Practical ideas for you to use including how to use ChatGPT
Each year, for the last 10 years, or so, I have identified the latest trends in digital marketing and forecast what the major trends will be in the year ahead. The aim is to help marketers and business owners find new marketing ideas, review their budget investments and put together their plans. There’s always a lot of interest as businesses consider tactics they can deploy to gain an edge by using some of the latest techniques.
This review covers the latest developments in digital marketing across the many digital marketing channels tools that businesses can use shown in the visual below based on our RACE digital marketing framework. I cover ChatGPT at the end of the article. We developed this to help businesses develop a robust approach to developing integrated digital marketing strategies across 25 key activities which we define as…
What is the difference and does it matter?!
Before Digital marketing became the de-facto term, I've been asked this question a lot across the years... does the difference in scope between these terms matter? So, as we enter 2023, I thought it was time for another quick look. Here is the latest comparison from Google Trends between 2004 and present
Does the difference in these terms and their definitions matter? No, of course not, it's semantics! But it is interesting to see how the scope of Internet marketing vs Digital marketing has changed over time. In my books, when discussing alternative definitions, I explain that, no it doesn't really matter, but the scope and responsibility is important to make the most of managing the opportunities. So the scope of digital marketing activities should be agreed within a business and/or between a company and its agencies. The…
