Chart of the Month - Is pharma underinvesting in digital for launch?
October 2023, our CHART of the MONTH:
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Our 2022 Global Trends Report showed that HCP satisfaction with biopharma’s digital offering at launch is consistently lower than the overall satisfaction score for biopharma digital – a trend seen across all regions, with the lowest score seen in EU5 (34%). This creates an interesting opportunity for the industry to augment its F2F engagements around launch with a robust mix of medical and commercial digital activities. Our Omnichannel Launch Excellence framework shows how an evidence-based omnichannel approach is ideal for data dissemination and disease education prior to launch, with the aim of advancing potential future prescribers on the knowledge ladder before commercial can enter the picture.
Yet the importance of this does not seem to be reflected at all in the share of total launch budgets allocated to digital elements. In fact, while overall digital marketing budgets continue to climb, the majority of respondents to this year’s Maturometer™ survey revealed they spend (much) less on digital in a launch context. Taking 30% of total marketing budget allocated to digital as a threshold – by comparison it’s more like 50% in B2B industries – we see that at least 32% of respondents spend more than this on digital in general, while only 20% allocate more than this in the launch setting.
For an expanded view on how pharma is underleveraging the digital opportunity for launch products (including the full breakdown of how much pharma allocates to digital budgets at launch), check out our long-read blogpost and/or download the full Maturometer™ 2023 report here.
If you would like to know more about how Navigator365™ can offer uniquely actionable insights to help you optimize your channel mix, then please get in touch!
Chart of the Month is an ongoing series where we highlight an interesting chart or statistic from our Navigator365™ Core and Maturometer™ research, and offer a brief commentary on what this can tell us about trends in customer engagement in the life sciences.
