What's In It For Me (WIIFM)?

The phrase "What's in it for me?" (often abbreviated as WIIFM) is a fundamental principle in marketing. It emphasizes the need to address the personal benefits or advantages a potential customer will gain from a product or service. It is about understanding and communicating the direct value proposition to the target audience.

In the context of pharmaceutical marketing, WIIFM can be applied in various ways:

1. For Patients?

• What benefits can they expect from the medication or therapy??
• Will it alleviate symptoms, cure, or improve quality of life?
• Are there cost savings or convenience factors associated with the drug?

2. For Healthcare Professionals?

• How will this drug benefit their patients compared to other treatments?
• Is there strong scientific evidence supporting its efficacy?
• Will it simplify treatment regimens or reduce side effects?

3. For Pharmacies and Distributors?

• Is there a profitable margin for them?
• Will the product drive more traffic or enhance their reputation?
• Are there incentives or support from the pharma company for stocking and promoting the drug?

4. For Payers and Insurers?

• Does the drug offer cost-effective treatment, potentially reducing long-term healthcare costs?
• Is there data supporting its value proposition in terms of outcomes and savings?

5. For Investors and Stakeholders?

• What are the projected sales and revenue from the drug?
• Are there long-term growth opportunities associated with it?

Every communication, advertisement, or promotion in pharma marketing should address the WIIFM (What's in it for me?) Factor for its target audience. Whether it is a drug brochure for patients, a detailed scientific paper for doctors, or a business case for investors, the content should communicate the unique benefits and value proposition. In an industry as competitive and regulated as pharma, understanding and effectively communicating "What's in it for me?" can make the difference between the success or obscurity of a product.

(Excerpt from “A to Z of Pharmaceutical Marketing”: World’s First and Only Encyclopedia)