The life sciences industry is ever-changing. Today’s patients are in greater control of their medical decisions, next-gen medicines are affecting R&D returns, and digital innovations are flooding the marketplace.
This means keeping up with the new healthcare landscape poses many challenges for life sciences marketers. While there are many digital opportunities and technological advancements, there are also strict compliance rules and regulations to follow, patient relations to nurture, and digital strategies to adopt – making it a tricky field to navigate.
Many of our life sciences clients have faced similar challenges. That’s why we’ve put together a list of the top three challenges and their solutions to make your job easier and keep business moving forward.
Leveraging Big Data Insights
Data is the foundation of everything in life sciences – from new pharmaceutical developments to advancements in medical care. Although there’s a constant flux of data, it’s become fragmented, scattered across multiple parties, including payers, providers and patients, and held on different systems, such as paper files and individual institutions. This means there’s not one designated placeholder for big data, making it difficult to ensure privacy and optimize the patient experience. In fact, leveraging data from different sources is among the top three challenges in creating a connected customer experience.
To overcome this data dilemma, life sciences marketers should build patient profiles and their journeys. This will help sales and marketing to provide personalized, targeted messaging that relates to their audiences’ unique needs along their individual medical journeys.
Improving the Patient Experience
Products and devices used to be marketed to health care providers and physicians. This made sense considering they use the products to execute their jobs. However, patients now have more access than ever before to clinical data and information regarding their medical needs. Therefore, a marketing shift has taken place in the industry.
Life science companies are now gearing their marketing efforts directly to patients, rather than through physicians and providers. This refined approach targets the end consumer, ultimately guiding them through their decision-making process.
However, 81% of consumers are unsatisfied with their healthcare experience. This means it’s critical to foster relationships that turn leads into loyal customers. You can achieve this by providing seamless, connected touchpoints during their medical journey. Empower patients by giving them resources and channels to interact with. For instance, optimize your website with clear products and solutions to help educate viewers. You can use your website as the platform to house relatable messaging and empathetic content that proves your company is the trusted expert in the industry. While the patient experience includes more than just digital, optimizing this platform will be vital to keep up with today’s patients and their demands.
Applying New Technology
While using new technology can be a risky initiative, it’s another invaluable way to improve the patient experience. In fact, only 20% of companies feel they have matured in their journey to becoming a digital enterprise. This means it’s important to prioritize digital advancements and utilize new technologies. For instance, Artificial Intelligence (AI) could be used to personalize solutions for patients, considering AI is anticipated to rise by 55% in the next two years. While humans used to be the gatekeeper with patients, technology could provide a more frictionless experience. In addition, IoT and wearables could become essential to your marketing strategy in an effort to target patients and meet them where they are.
According to Salesforce, IoT/connected devices and AI are the top two marketing technologies with the highest anticipated growth rates over the next two years. This means keeping these technologies top of mind will be critical to get a leg up on competition and retain patients for the long haul.
While life sciences is a tricky field to master, there are many solutions that marketers can apply to common industry challenges. By delighting customers through every phase of their patient journey, providing relatable, empathetic digital content to boost their experience, and leveraging new technology, your company will stand out among competition and customers.