Pharma Digital IQ Study

The pharmaceutical industry is disconnected regarding digital marketing to physicians. The industry spends an estimated $27 billion marketing to doctors and other healthcare professionals
(HCPs).1 However, while physician time spent on the internet for clinical practice has quadrupled since 2002, less than one percent of HCP marketing spend is allocated to digital channels.2
The explosion in clinical use of smartphones and other portable devices has led to even greater imbalance. Even as doctors increasingly turn to digital, the majority of pharma dollars continue to flow to the industry’s increasingly constrained and extraordinarily expensive sales forces.

Digital IQ = Shareholder Value
Our thesis is that digital competence is inextricably linked to
shareholder value in the pharmaceutical industry. Key to managing
and developing a competence is an actionable metric.
This study attempts to quantify the digital competence of 70
U.S. pharmaceutical brands across ten disease states and their
efforts in using digital platfoms to reach HCPs. Our aim is to
provide a robust tool to diagnose digital strengths and weaknesses
and help brands achieve greater return on incremental
investment.
Like the medium we are assessing, our methodology is dynamic,
and we hope you will reach out to us with comments that improve
our approach, investigation, and findings.

Advertisements

In the UK, Volvo crowdso…

Image

Volvo crowdsources content via interactive outdoor ads

Wed, 5 Sep 2012 | By Rosie Baker

Volvo is launching an interactive digital outdoor campaign that invites consumers to design a personalised version of its V40 car.

volvo

Consumers can choose from a range of colours, alloys, interior using a digital outdoor screen. They will then be shown an interpretation of their personality based on the design choices they made.

Content created by users will then be featured on digital outdoor screens at train stations around the UK.

The outdoor campaign, created by EHS4D and Grand Visual, uses interactive digital outdoor screens placed at sites such as bus stops where there is a long dwell time.

Drivers are also offered the opportunity to win a test drive in return for their email information.

Kylee Rush head of brand engagement at Volvo Car UK, says: “Volvo’s Scandinavian origins provide a unique opportunity to explore the simplicity in design and to create vehicles that are designed around people – and this campaign is a brilliantly engaging example of how we’re bringing that to life.

“It allows people to easily interact with the All-New Volvo V40, and personalise the car to their own taste. It clearly communicates the capacity for consumers to individualise and hone their Volvo V40 to make it their own.”

The campaign is in line with Volvo’s “Designed around You” global marketing strategy that aims to build on the brand Scandinavian heritage by designing vehicles around people and personalities.

Stop Blabbing About Innovation And Start Actually Doing It

Absolutely love the succinct opening… so true and reminded me of an article “25 Steps to Entrepreneurial Success” http://www.dramatispersonae.org/TwentyFiveSteps.htm

Think of it as the “Yin” to the Start-up Projects “Yang”.  http://blog.startupcompass.co/

Sense of urgency….not sure where I picked up this phrase, but has served me well as a corporate instigator of innovation and in my 2nd successful start-up.

Wake up everyday knowing that there are 25 brilliant minds in a garage somewhere working on the same idea..

@Pricepoints

Stop Blabbing About Innovation And Start Actually Doing It

BY Expert Blogger Aaron Shapiro | 04-16-2012 | 9:30 AM

This blog is written by a member of our expert blogging community and expresses that expert’s views alone.

These days, every established company is at risk of having its industry–and its own business–disrupted by a startup. Cognizant of this, companies devote a lot of time to talking about how important it is to innovate. But here’s the truth: most companies can’t innovate because everyone is paid to maintain the status quo.

This is the single biggest reason companies fail to do anything new or exciting. You and everyone else are maxed out making sure your company is doing what it’s supposed to do; innovation is what the weekends are for.

Despite the real risk involved, this actually makes sense. Companies are set up to do one thing very well. That’s the business they’re in. All of the roles in the company are defined and structured to create the best environment for doing that one thing as efficiently as possible. The number of people employed by the company fluctuates with the workload. More work, more people. Too many people and too little work means layoffs or mismanagement. Success is doing the same thing you’ve always done, just a little bit better, achieving just a few more sales or shaving a hair off of costs. Change is discouraged by time constraints and the stifling number of approvals needed. Failure is punishable by pink slip. Every day is the same.

Yet, today, your entire industry can change in the space of a headline. If your business can’t innovate, it won’t survive when the startup in the garage across town that doesn’t have to answer to your shareholders does all the things legal has been telling you that you can’t do, all the things that you don’t have time for. It’s never been more urgent to stop talking about innovation and actually start doing things differently. And, with digital, the opportunities have never been greater. Instead of innovating on your weekends, overcome the structural impediments and time constraints to real change by approaching innovation from two directions: outside-in and inside-out.

“Outside-in,” when not based on acquisition, often comes in the form of a skunkworks project. It’s colloquially defined as a startup funded by the parent company, but kept separate from the dysfunction and sluggishness of the whole, in order to incubate great technological advancements. I’ve referenced this tactic before, as the first step big businesses should take to evolve their organizational structures. Google, JetBlue, NBCUniversal, and News Corp. have all used the strategy.

Here’s the recipe:

Set the right goals. A skunkworks project should be tasked with developing a new, specific tech product or service.

Give the team freedom to create. Bureaucracy, office politics, and the aforementioned requirement to keep the ship sailing straight ahead all slow down and inhibit big advancements. To succeed, the skunkworks team must be kept free from these deterrents.

Appoint separate senior management. Management by committee is not an option. The quickest route to failure is slow decision making. The skunkworks team should report directly to a senior-level executive who is authorized to green-light initiatives that are separate from the company’s main purpose and to implement these new solutions.

Choose a separate location. The team should not be housed in the corporate headquarters. Ideally, it should live nearby, but in some cases, it needs to be in a completely different location to be able to access the right talent. When Johnson & Johnson decided to build a unit oriented to design, creativity, and technology, the division planted a flag in an old industrial building in a trendy neighborhood in New York. Its corporate headquarters are in suburban New Jersey.

Mix up the staff. The staff should be a healthy hybrid of high-performing internal employees and newbies, so that some participants are familiar with the company’s core business while others have an open mind and fresh ideas.

Give it time. Really well-developed products often take a year from the time people start working on them until launch. You can get things done in six to nine months, but it’s unusual, especially if the team refines it with iterative improvements.

Bring it back into the fold. Once the project is complete, skunkworks team members should move back in with the parent company. They either become a distinct department or are dispersed throughout the company, in order to effectively run and manage the particular product.

On the other hand, “inside-out” innovation is all about incentivizing existing staff members to be revolutionary within their own jobs. The most important ingredients are largely cultural:

Freedom to fail. Traditionally, companies are averse to risk, so if you fail at something, it hurts your career. But to innovate, you need to be able to try new things without risking your livelihood. As Thomas Edison said, “I have not failed. I’ve just found ten thousand ways that won’t work.”

Free time. Performance evaluations for managers should include assessment of the volume and quality of new ideas they brought to the table. If the company’s priority is solely productivity, no one will have time to think about creating something new, let alone bring it to life.

Training. An office that encourages and facilitates education openly admits there’s room to grow and inspires people take that leap.

The risk involved in these changes is less than the risk of not making them. Innovation is outside the comfort zones of most businesses–but so is Chapter 11.

Aaron Shapiro is CEO of Huge, a global digital agency based in Brooklyn, and author of Users Not Customers.

[Image: Flickr user Derrick Collins]