Purpose-driven marketing in pharma

The pharmaceutical industry is shifting towards personalized medicine with biosimilars, which will necessitate greater engagement with patients. Patient-centricity has already become a topic of discussion in the pharma industry as patients are increasingly informed about their healthcare needs. Patients have transitioned from passive consumers to active ones, often inquiring about their treatment and medical condition with their doctors. In light of these changes, the pharmaceutical industry must adopt a patient-centric approach that necessitates purpose-driven marketing. Purpose-driven brands can enhance profitability, sales growth, brand loyalty, and competitive advantage.

Consumer trust in the pharmaceutical industry has hit an all-time low, largely due to the prevalence of false representations circulated on WhatsApp. Interestingly, the pharmaceutical industry still prioritizes physician-centricity over effective communication with consumers. However, with the transition to personalized medicine, biosimilars, and patients taking a more active role in decision-making, pharmaceutical companies must shift their focus to become more patient-centric.

To become more patient-centric, pharma companies need to build trust, and confidence, and become a partner in patients' wellness journeys. This can be achieved if the company's purpose is aligned with its consumers. Before showcasing brand purpose campaigns, companies need to answer a few questions to understand their brand purpose's ground reality. These questions include whether their brand purpose is aligned with the consumer purpose and the company mission, how confident they are in their purpose-driven patient-centric initiatives, whether patients know about their purpose, whether doctor influencers are aware of their brand purpose, and whether the organization's purpose is towards patient-centricity.

Furthermore, companies need to examine whether they are confident in their purpose, whether they have a purpose other than money, and how close their purpose is to the brand's purpose at an individual level. By addressing these questions, pharma companies can develop a more patient-centric approach that aligns with their brand purpose, builds trust, and ultimately provides a competitive advantage in the marketplace.

However, it is crucial that this clarity reaches the bottom leg team, which includes the vendor management team, medical reps, sales, PMT, etc., even though I think that the majority of top Indian pharmaceutical companies have clarity at the top level when it comes to the brand and company purpose. Every campaign must be assessed through the prism of purpose; doing so will guarantee that the message reaches a wide range of customers. Last but not least, patients won't buy into your purpose message unless it helps them on their path to wellness.