Ways Of Gaining Trust Again In Pharma

A recent study by Edelman proved what pharma marketers and consultants knew for a long time now: the consumers’ trust in pharmaceutical companies is severely shattered. According to new findings the credibility of the industry decreased significantly with the level of trust in pharma companies dropping almost 10% from 61 to 56. It is illogical and not realistic to think that the global issues of the sector can be solved with old tactics and practices. To fix these problems and gain back the trust of consumers pharmaceutical companies have to acquire a new approach.

Luckily the economic surroundings, results of several researches and new global communication trends all point in the same direction. All pharma companies need to do is to actually recognize this direction and give up the old, habitual and ineffective ways of marketing and talking to their audience. Case in point: the excessive spending on TV ads. Here are the key reasons pharma companies should revisit their strategy about television advertising:

  • The global economic situation doesn’t provide financial resources to support expensive and rather ineffective advertising methods. These days TV ads fall into this category.
  • Stricter regulations also make it harder to include key products in TV advertising and also influence the development process of such ads.
  • Controversies in the past in connection with heavily advertised drugs resulted in the consumer assumption that pharmaceutical products promoted on television cannot be trusted.

The findings of recent studies and new trends also seem to prove that the future is not about TV advertising and old ways of marketing but rather about social engagement, co-operation and two-way communication. Online communities and social platforms quickly gained popularity in the past few years creating never before seen changes in the way we communicate, share and consume information. So it is no surprise that consumers trust people like them more and more and take their advice rather than following a push message marketed “at” them and not “with” them. According to the study mentioned above people trust others similar to them more and more. The level of consumer trust in others’ opinion increased from 43% to 65%.

The opposite trends of the changing level of trust are undeniable when it comes to pharma companies and peers. So wouldn’t it make sense to focus on what works, to pay more attention to integrating peer-based tools like social media and patient communities into the marketing strategy? Wouldn’t it make sense to focus and spend less on marketing tools, like TV ads that doesn’t work anymore? New approaches are desperately needed, because clearly, the old ways couldn’t secure the industry’s credibility.

(Source: Health Talker)

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