More media but less consumption
Aug/08/2007 02:57 Filed in: Media
(Internet)
.
Because of the high demand for quick updates and short news briefs readily available on the web, consumers now rely less on 30-minute broadcast or cable TV news shows and spend less time reading the Sunday paper, dropping time with ad-supported media 6.3%. But it isn't that consumers are no longer using media, they are just spending less time with it. As I said on my podcast with John Mack this morning "the economy is driven more and more by informed consumers not marketers and DTC marketers don't know how to respond".
Let's look at some statistics:
47% of all adult Americans have a broadband connection at home as of early 2007, a five percentage point increase from early 2006.
Eight in ten internet users have looked for health information online, with increased interest in diet, fitness, drugs, health insurance, experimental treatments, and particular doctors and hospitals.
Seventy-nine percent of internet users have searched online for information on at least one major health topic. That translates to about 95 million American adults (18+) who use the internet to find health information.
Yet pharma continues to push content to Web users, does not understand Web analytics and does not have experienced and skilled eMarketing people in house. The trend of truly marketing on the Web is passing this industry by as it struggles to find a cost effective business model to meet all the environmental challenges. Here are some reasons that I believe pharma has not embraced the Web and is stuck in Web 1.0:
1. "You want how much?" - Most DTC marketers look at the development of an interactive strategy as an after thought. They feel that once you have your product website up and running that you are done. Sure maybe we need to buy some keywords but the information is there and TV will drive people to our site. WRONG ! A website needs continual investment to optimize the message and drive the calls to action. Targeted online ad campaigns can drive a better ROI than any other media channel.
2. "I don't know how to do that" - The Web is about personally relevant information and engaging consumers in dialogue. Pharma marketers don't know how to approach this unknown and throw up expressions like "we can't do that we are a regulated industry". The truth is that there are a lot of ways to do this if your willing to take the risk to reach your audience.
3. "But it's not as glamourous as TV"- Yes this is true but is it about internal politics and show or about ROI.
4. "My agency has recommended TV & print" - And where do think they make the most money ? The truth is that most traditional ad agencies don't understand the Web and when the hear of big marketing budgets they naturally think of the best ways to maximize THEIR revenues.
5. " I ran an online ad that drove 200,000 people to my website but share didn't go up" - Well let's see...if most of those 200,000 people came to your website and stayed only a few seconds than the chances are that those people were not in your target audience. You paid for a click when you should have been looking at cost per targeted action. Is there content on your website that you know is motivating to your ONLINE audience to take action?
Pharma still has a long long way to go before they learn about what the Web can offer. What is so puzzling is that at a time when they have less and less money to spend the Web offers ways to maximize their DTC dollars but they still continue to feel around in the dark. The blind leading the blind...
Because of the high demand for quick updates and short news briefs readily available on the web, consumers now rely less on 30-minute broadcast or cable TV news shows and spend less time reading the Sunday paper, dropping time with ad-supported media 6.3%. But it isn't that consumers are no longer using media, they are just spending less time with it. As I said on my podcast with John Mack this morning "the economy is driven more and more by informed consumers not marketers and DTC marketers don't know how to respond".
Let's look at some statistics:
47% of all adult Americans have a broadband connection at home as of early 2007, a five percentage point increase from early 2006.
Eight in ten internet users have looked for health information online, with increased interest in diet, fitness, drugs, health insurance, experimental treatments, and particular doctors and hospitals.
Seventy-nine percent of internet users have searched online for information on at least one major health topic. That translates to about 95 million American adults (18+) who use the internet to find health information.
Yet pharma continues to push content to Web users, does not understand Web analytics and does not have experienced and skilled eMarketing people in house. The trend of truly marketing on the Web is passing this industry by as it struggles to find a cost effective business model to meet all the environmental challenges. Here are some reasons that I believe pharma has not embraced the Web and is stuck in Web 1.0:
1. "You want how much?" - Most DTC marketers look at the development of an interactive strategy as an after thought. They feel that once you have your product website up and running that you are done. Sure maybe we need to buy some keywords but the information is there and TV will drive people to our site. WRONG ! A website needs continual investment to optimize the message and drive the calls to action. Targeted online ad campaigns can drive a better ROI than any other media channel.
2. "I don't know how to do that" - The Web is about personally relevant information and engaging consumers in dialogue. Pharma marketers don't know how to approach this unknown and throw up expressions like "we can't do that we are a regulated industry". The truth is that there are a lot of ways to do this if your willing to take the risk to reach your audience.
3. "But it's not as glamourous as TV"- Yes this is true but is it about internal politics and show or about ROI.
4. "My agency has recommended TV & print" - And where do think they make the most money ? The truth is that most traditional ad agencies don't understand the Web and when the hear of big marketing budgets they naturally think of the best ways to maximize THEIR revenues.
5. " I ran an online ad that drove 200,000 people to my website but share didn't go up" - Well let's see...if most of those 200,000 people came to your website and stayed only a few seconds than the chances are that those people were not in your target audience. You paid for a click when you should have been looking at cost per targeted action. Is there content on your website that you know is motivating to your ONLINE audience to take action?
Pharma still has a long long way to go before they learn about what the Web can offer. What is so puzzling is that at a time when they have less and less money to spend the Web offers ways to maximize their DTC dollars but they still continue to feel around in the dark. The blind leading the blind...
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