Biotechnology 2024: 5 Digital Marketing Trends Shaping the Pharma Landscape

The pharmaceutical industry has traditionally relied on established marketing channels to reach healthcare professionals and patients. However, the digital landscape is constantly evolving, presenting both challenges and exciting opportunities for pharma companies. This article explores five key digital marketing trends that are shaping the industry in 2024, highlighting how these trends can be leveraged to reach target audiences more effectively and deliver impactful messaging.

AI, Specifically, Generative AI

More than any other trend is the explosive growth of generative AI. In fact, according to GlobalData’s “State of the Bio-pharmaceutical Industry,” nearly 40% of healthcare industry professionals surveyed said AI would be the most disruptive emerging technology in the sector during this year.

So how does this translate in the digital marketing arena?

Pharma digital marketers are already seeing the tremendous impact of AI. Driven by ChatGPT, marketers are using generative AI to create an extensive library of engaging, high-quality long- and short-form content including blog posts, social media posts, meta descriptions and web pages, articles, and even scripts, a shift in working methodology that allows for a concurrent shift in budget, allowing for a larger portion to be allocated to ad spend which, in turn, allows for both the creation and execution of more strategic, more effective digital marketing campaigns.

Omnichannel

Channels not only wax and wane in their ability to reach and engage with your target market, but, as time goes by, they also increase in number. Think of the original television stations. What started as three channels grew to hundreds, then thousands, splintering the market into countless niche segments. Today, as we have for some time, we see this online, with multiple channels available for reaching single, or even multiple, targets.

What this means is the importance of developing an omnichannel marketing strategy is critical for embracing the many opportunities available for market engagement and conversion. As a result, pharma marketing strategies are shifting away from a limited, or even single, channel focus to embrace a multichannel data-driven strategy. This, in turn, provides the opportunity to deliver far more targeted communications and advertising with far greater personalization, which generates greater viewership, greater engagement, and greater rates of conversion.

More Video

Historically, pharma is a text-based industry. But, more and more, we are seeing the industry embrace video. Certainly, this is reflective of the times: Pinterest, Instagram, TikTok, and so on all highlight the growing interest, first, in still imagery, then, secondarily, in video. But, in addition, video, with its richer, multi-sensory experience, offers a far greater opportunity to capture attention and engage than traditional print.

Now we see not merely more pharma brands including video in their communications, but we see them shifting a larger portion of their strategic messaging to video content either as a component of a larger campaign or as the entirety of a campaign, foregoing print altogether.

The Growth of Ad-Supported Media

Opportunities for free ad-supported streaming TV (FAST) (where brands run video ad campaigns via multiple streaming services including Paramount+, HBO Max, Hulu, Netflix, and Disney+) are increasing exponentially, and offering new opportunities both for capturing data and for increased reach and targeting. This creates an opportunity-rich cycle of which can inform strategic planning which leads to increased engagement.

Greater, but More Niche, Influencer Marketing

The past four years has seen three interesting trends in influencer marketing. First, of course, influencer marketing has risen dramatically in impact and engagement. Second, it has also fractured, with far more influencers covering a range of markets and topics. And, third, smaller influencers, with their narrower topics and small, but fiercely loyal, markets, as well as their lower cost, are gaining in importance.

This, plus the fact that consumers are increasingly relying on social media for health advice, means more and more pharma companies are developing influencer marketing strategies.

The risks with this channel are obvious — most notable, diminished control over messaging and of particular concern for pharma, compliance with AMA, HIPPA, GDPR, etc. can be challenging when working with influencers, particularly those less experienced in engaging with pharma brands and less familiar with requirements surrounding transparency and related issues. However, the opportunity to leverage the credibility and influence opens opportunities to both reach, and engage with, an engaged and relevant market.

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