Who am I to judge?
I only report the data I glean from various sources. For example, recent data from IMS Health Global Pharmaceuticals Marketing Channel Reference indicates that worldwide pharmaceutical industry investment (i.e., spending) in sales force and marketing channels was nearly $71 billion in 2014 - a drop in 1.4% from 2013. BUT... the digital channel investment increased 32%!
Source: IMS Health. Click on image for an enlarged, readable view. |
Let's dive a bit deeper into the data and compare it to other estimates over the years.
First, the digital data does NOT include consumer marketing channels such as web banner ads, search engine advertising, etc. IMS Health is specifically looking at e-meetings, e-mailing, and e-detailing channels focused on healthcare professionals (HCPs).
Source: IMS Health. Click on image for an enlarged, readable view. |
Source: IMS Health. Click on image for an enlarged, readable view. |
Over the years I have tried to determine what portion of pharma's total marketing budget is devoted to digital and if that portion is increasing. Various sources look at various channels and it's not easy to compare one source with another. Even data from the same source may not compare apples to apples.
In June 2014 (here), for example, I reported that Cegedim Strategic Data (now IMS Health) estimated that the global pharma industry spent nearly $2.5 billion on all digital channels in the last 6 months of 2013 (or perhaps $5bn annually). The channels included pharma company websites, social media, web banner advertising in professional online journals and mobile apps. That worked out to be approximately 6% of the total audited marketing expenditure, which includes "traditional, personal promotional channels;" i.e., sales reps (see figure below).
Source Cegedim Strategic Data (here). Click on image for an enlarged view. |
Note: None of these data include search engine marketing, which may account for 40% of pharma's total digital promotional spend.
Superb info John.
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