Extend your Marketing Tech Stack by adding CAM™ to your annual budget.

Eager to create fresh marketing content to HCPs to execute a brand-new customer journey? Some may come back at the office with their summer pink buoy just in case. Well, you certainly won’t need that lifesaver since we already shared the 7 answers to 7 questions any Pharma marketer should ask themselves to start fresh.

Now that you know what the basic considerations are for creating compelling engaging content, you will have to decide what budget you need to allocate.
According to the New TGaS Report from Trinity Life Sciences, on average, Pharma brands allocated 66% of their marketing budgets to digital in 2020. The number is quite high, so it is important to actually make the most of it, reaching business goals and why not save some money too!

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Let’s dig in.

Apart from the budget, digital initiatives demand a lot of efforts to any Brand team (time consuming, many people involved) which is why most Pharma marketers are not embracing multichannel marketing momentum to the fullest. This is mostly because they are not aware of alternative ways of doing things.

So, when it comes to decide the minimum and maximum level of marketing expenses for their new marketing campaigns, the focus goes to what can we get done with the maximum this year, instead of how we can achieve results with the minimum.

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As digital marketing involves time and money, they feel they are limited at some point, which is quite frustrating. There are various strategies on how to define budgets but not many when it turns to spend it.

However, by reviewing their approach, Pharma companies will be able to better allocate their marketing spend and time for activities and actions that will help boost their marketing campaigns results.

How?

Operating with digital channels requires some understanding on the workflow involved to develop digital assets. Breaking down the cost of developing a digital marketing campaign will show how much we could remove common cost line items that are no longer applicable today.

The design phase cost.

Today, our Content Authoring Manager (CAM™) offers to cut 20% of the design phase cost simply by reducing and removing several stages on the design process no longer needed.

This phase usually involves not only the creative work which is led by creative agencies but also the whole structuring of the content, information hierarchy, the architecture, creating mock-ups to present various messages etc. Anyone involved within the process knows how much time and money it requires. It also gets complicated because of common pitfalls like:

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·     Having to deal with too many content creators and stakeholders to deliver one piece of digital asset;

·     Going through several stages that may misplace content, making consistency and compliance difficult to achieve;

·     Overlooking some added value tasks because time is missing (not enough time is left for the creative work and bringing value to content);

·     More content need to be created is becoming a well known challenge in the industry;

·     Flexibility for change even the smallest ones are difficult to engage since it usually goes to multiple people and through several steps not to mention the back and forth calls, emails etc.

Reduce the cost and avoid costly pitfalls while increasing the time and budget allocations for more creative work.

The coding phase cost.

The coding phase of a digital campaign accounts for an average of 40% of the development cost (not to mention the time it takes). In fact, this expense is useless in the budget, since CAM™ is a NO CODE solution which means no more programming cost.

No code is now the new standard to create, share and develop digital marketing campaigns. Even programmers themselves will admit so. It allows to test the digital piece as you go while the old way usually leaves the testing at the end of the process. So, any error or deficiency is carried forward and not identified until the end of the process, which involves extra effort and extra cost when you though it is all done.

In the end, a minimum of 60% cut can be achieved on global digital marketing cost.

Just as it is possible to completely free marketing teams from the coding step, it is also possible, and it is equally important to release them from any unnecessary tasks or outdated design process that will give them back time and budget. More savings and scalability which is often not easily addressed with the old process.

The level of risk taking is down to zero because you can create as much as you want without losing money instead, you’re saving it. You can test your marketing campaigns as much as you want, adjust them, modify content as the HCP is responding through its customer journey at no cost.

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Digital solutions are not emerging, they are already there for Pharma marketers to use in order to efficiently and effectively execute marketing activities across digital channels. Adding CAM™ to the current company Marketing Tech Stack could greatly benefit Pharma marketing campaigns. This technology makes it way more comfortable for anyone to create and localize digital assets within an integrated Master to Localization system. This particular approach empower marketing teams to use content modules, already structured layouts, and templates to maximize time and budget.

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So, to the question, “how much budget should we allocate to create our marketing campaigns?”, shifting to CAM™ will transform the question into “where should we put our focus in terms of content creation, HCP needs etc.?”

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By including one line item for CAM™ in their annual budgets, Pharma companies will eliminate several line items on their actual marketing expenses for their digital marketing campaigns. And so, they will be able to use most of their planned budget on more added value expenses such as: content strategy, market research, educational resources for HCPs etc.

Keen to try? We could show you the way.

SAVE TIME. SAVE MONEY.

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