How to stay ahead in drug development

For companies working in the drug development services industry understanding marketing trends can be crucial for a competitive edge

The Drug Development Services 2015 Marketing Trends Report from SCORR Marketing offers insight into how companies in the industry are meeting their marketing goals. Do companies rely on internal marketing teams or outsource? If they outsource, are they satisfied with their agency’s performance? What marketing goals are the most important?

The results from the survey identify what companies in this industry are doing and pinpoint areas for improvement as well as analysing how these companies are incorporating digital marketing, using social media and determining the best mechanisms for lead generation.

1. Most drug development companies seek an agency that has industry experience. Partnering with a marketing firm with sector knowledge and expertise can help develop a more strategic marketing plan and better differentiate your products and services. However, your marketing partner needs to be as accountable as your internal team to meet your goals.

2. Recognise the importance of digital marketing. This has become an essential part of the marketing mix, yet many respondents expressed dissatisfaction with the effectiveness of their digital tactics so companies need to develop an integrated marketing plan and identify ways to repurpose content.

3. Measure results. The survey also revealed that many companies make marketing decisions without establishing accountability or measuring results. Assessing how clients perceive you and your competitors should be a key steps in developing a marketing strategy. Also measure the performance of your marketing tactics so you know what is working and what isn’t.