Feature

Predicting Trends 2024

December 2023
|

The DHC Group

Most significant advancements in 2023
according to industry experts:

Artificial Intelligence:

The year witnessed a widespread adoption of Generative AI tools, experimentation with AI technology, and its integration into mainstream practices for disseminating knowledge and fostering engagement.

Data:

Pharma advancements in 2023 highlight the integration of data to enhance health outcomes, prioritize healthcare providers, and personalize marketing strategies.

Technologies:

Transformative growth through strategic acquisitions, the consumerization of healthcare, and the use of technologies like ChatGPT and Bard underpin the industry’s commitment to innovation and personalized healthcare.

Omnichannel:

A major focus in 2023 has been on omnichannel strategies fueled by customer data, emphasizing seamless experiences across platforms, services, and in-person interactions.

Q

In your opinion, what was the most significant (innovative) advancement(s) in pharma sales and marketing in 2023?

According to our recent survey of pharma marketers, "Customer Experience" is the top trend for 2024.
We asked the experts what it would look like for pharma
to make a meaningful impact on customer experience next year, and they cited three key areas:

ORGANIZATIONAL IMPROVEMENTS

In order to elevate the customer experience, pharma is prioritizing timely coordination between field force and advertising, fostering organizational alignment to ensure impactful customer interactions, and emphasizing the importance of maintaining consistent brand stories across various touchpoints to enhance customer mindshare.

DEEPEN CUSTOMER UNDERSTANDING

To enhance customer experience, pharmaceutical companies are focusing on understanding the patient journey and individual experiences, seeking to revolutionize the customer experience by grasping genuine motivations and needs, and prioritizing the integration of data, technology, and clinical knowledge to create an informed and patient-centric pharmaceutical landscape.

INTEGRATE TECH AND PATIENT INSIGHTS

Pharmaceutical companies will need to leverage Generative AI as a novel approach to comprehend customer sentiment and needs, conducting efficient social media listening for valuable customer insights. They should also commit to offering tailored content and support resources at various stages of the care journey and to diverse patient populations, employing technology to deliver a seamless end-to-end healthcare experience and personalized patient support programs.

Q

According to our recent survey of pharma marketers, "Customer Experience" is the top trend for 2024. What will it look like for pharma to make a meaningful impact on customer experience next year?

Four key themes emerged as thought leaders considered how AI will most impact pharma marketing in the next 2 to 3 years:

Evolution of AI
in Pharma:

The responses highlight a collective anticipation of AI’s transformative role in the pharmaceutical industry, moving beyond initial hype to practical results and the establishment of best practices. The consensus underscores that AI is not just a passing trend but a permanent and integral component shaping the future of pharmaceutical marketing and operations.

AI Applications
and Challenges:

The diverse applications of AI in streamlining processes, enhancing content creation, and optimizing marketing strategies emerge as key themes. The responses also delve into the challenges, exploring AI’s potential to address issues such as regulatory reviews, fragmented customer landscapes, and the need for combating misinformation in the industry.

Cross-Channel Integration and
Global Impact:

The responses emphasize the pivotal role of AI in facilitating cross-channel integration and ensuring global alignment of messaging in pharmaceutical campaigns. The underappreciated impacts of AI on international campaigns, particularly in smoothing communication across diverse markets, emerge as a significant theme in the context of global pharmaceutical marketing.

Marketer Adoption
and Integration:

Encouragement for marketers to embrace AI tools, both major announcements and seamlessly integrated innovations, is a prevalent theme. The responses stress the importance of consistent experimentation and utilization of AI tools, even in unconventional ways, to add value and enhance workflow. The dynamic and evolving nature of the AI landscape is highlighted, emphasizing the need for marketers to stay nimble and experiment with various tools.

Q

AI is arguably the biggest buzzword headed into 2024. How do you anticipate AI changing the landscape of pharma marketing most in the next 2 to 3 years?

Straight from the experts - here's the top advice for pharma marketers headed into 2024:

Embrace Data and Technology

Several experts emphasize the importance of leveraging data and technology for effective pharma marketing in 2024. This includes advice to be open to possibilities realized through data and technology, prioritizing understanding the audience by comprehending their needs and challenges, and making significant investments in future-proof measurement amid changes in privacy regulations.

Focus on AI Adoption:

The need to embrace artificial intelligence (AI) emerges as a recurring theme. Suggestions include getting comfortable with change and starting to use AI now, mastering generative AI for enhanced performance, and exploring the AI landscape to stand out and succeed. Marketers are encouraged to view AI as a tool that can empower and differentiate their efforts.

Prioritize Patient-Centric Approaches:

A strong emphasis is placed on adopting patient-centric strategies. This involves focusing on traditionally underrepresented and historically marginalized communities, delivering personalized content that resonates with diverse patient populations, and understanding the broader aspects of patients’ lives beyond managing their conditions.

Stay Informed and Adaptive:

Marketers are advised to stay informed and adaptable, with specific reference to the evolving pharmaceutical landscape. This includes paying attention to startups offering solutions to healthcare providers (HCPs), being aware of industry changes related to third-party cookie deprecation, and embracing experimentation to stay ahead of the curve.

Strengthen HCP Engagement:

The importance of HCP engagement is highlighted, particularly through avenues like mobilizing Medical Science Liaisons (MSLs) for peer-to-peer interactions, recognizing the demand for MSLs to assist the promotional side of the business, and staying attuned to the preferences of HCPs for webinars, digital forums, and panel discussions.

Q

Based on your perspective in the industry, what advice would you give to a pharma marketer headed into 2024?