How can pharma stay ahead in the digital revolution?
How is pharma transforming itself in order to stay competitive?
Pharma companies must recognize the new decision-making power of the consumer and develop better ways to engage with them and deliver a new customer experience. Today’s consumer has higher expectations and pharmaceutical companies will need to meet these new demands. Patients / consumers are on number of digital channels, pharma will need to identify and pilot different approaches in order to reach these patients / consumers.
I fully agree with Dr. Todd Johnson, CEO of Noble.MD statement: “Apps that face the patient but are designed to solve pharma-company business needs should never exist.”
In the future patients’ brand loyalty will decrease and cost consciousness will increase.
Carefully designed clinical trial data will no longer be the sole source of outcome data and therefore pharma will lose control over it’s value stories.
Pharma companies will need to identify and understand which digital / technology solution will provide the most value for their business. A fundamental question to confront will be choosing between developing digital solutions in-house or through partnerships and third parties.