Pharmaceutical Sales and Marketing trends in Singapore

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Pharmaceutical sales and marketing have been at the forefront of tackling industry shifts since the onset of the pandemic. Sales and marketing teams have moved from a mass-market to a target-market approach to drive profit, whilst organisations look to build their brand. It’s no longer about what the market wants and needs, but what they are willing to pay a premium for.

More pharmaceutical companies are bringing in new sales and marketing systems while concentrating on a smaller, more agile, and smarter sales force. The pharmaceutical industry is no longer being rewarded for incremental innovation on me-too products – products created by a company that is similar to a competitor's product – or selling the most drugs or provision of health services. They are rewarded for being able to meet the changing demands for consumers in a more swift and timely manner. The world is changing, and pharmaceutical sales and marketing functions will need to adapt in order to sustain future growth and performance.

 

Deep dive into sales and marketing strategies in Singapore’s pharmaceutical industry

In the 1990s, most of the sales and marketing strategy was driving promotion for medicines in primary-care therapies for diseases afflicting large patient populations, such as hypertension, diabetes, high cholesterol, and depression.

Now, the rise in studies of genomics, proteomics and metabolomics are providing new tools, new technology and advancements to develop larger molecules that more closely mimic naturally occurring molecules in the human body for instance. With this, many pharmaceutical companies have now redirected much of their investment from chemical entities to proteins for specific cancers, immunological conditions, and blood factor deficiencies. Biotech companies like Amgen, Biogen and Genentech were among the first firms to capitalise on these scientific advances.

With these advancements, sales and marketing teams will need the capacity to promote these innovations that can inform, educate, and advise their customers and stakeholders.

As such, Real Life Sciences have consolidated a guide below, listing top pharmaceutical trends in Singapore that sales and marketing specialists will need to consider in the years to come.

 

Top pharmaceutical sales and marketing trends in Singapore

  • Rethinking your value proposition to get an edge over your competitors

One of the ways companies in the pharmaceutical industry can look to boost their return on investments is by rethinking and re-focusing on their brands’ value propositions. This process is essential – from drugs to even manufacturing processes as these impact future marketing plans beyond 2022.

Pharmaceutical companies should ensure they implement the most critical value propositions to boost their brands into the market given stiff competition. Clinical trials and customer-satisfactory feedback will inform sales and marketing teams on customer purchase decisions and more. This also helps to ensure customers’ needs are met, especially in a lifesaving and time-sensitive environment within pharmaceuticals. Hence, pharmaceutical sales and marketing departments will need to constantly develop new strategies and tactics to support existing trends, whilst continuously evolving for better business results in 2022 and beyond.

 

  • Staying updated on ever-changing social media marketing trends

Most if not all brands, are currently seeing the value of social media marketing. Many big brands in the market are even partnering with influencers or getting celebrity endorsements, while others are posting valuable content on social media to engage their customers.

For that reason, experts from reputable pharmaceutical brands like AstraZeneca uses Twitter to broadcast disease-awareness information, share informative content on its website and live-tweets from medical meetings and company events. The pharmaceutical industry is looking to use different social media platforms to create an infrastructure that delivers helpful information to customers.

During COVID-19 where social distancing was encouraged, it had also contributed to a significant focus towards social media more so than before. As such, reviewing social media marketing trends can help to boost and shape your business in 2022, which seem to be a big part in driving customers and sales.

 

  • Implementing patients and customer feedback surveys

As the pharmaceutical industry change and evolve constantly, one area which companies should embrace that will help to shape your business beyond 2022 is the implementation of a customer feedback system.

The aim is to ensure your business creates a more customer-centric data collection strategy in relation to new products and services. Opting to adopt a CRM system that promptly allows your customers to share their feedback and opinions is an excellent option. Once you have a platform where customers can quickly reach out and share their thoughts, you can collect these data and analyse it to create marketing content or product improvements based on those feedback.

Customer surveys and feedback can help you create effective sales content, product reviews, and updated services, thus boosting your brand identity and driving an increase of customer base.

Do take note that your customer survey and feedback system should be created with the future in mind. For instance, you want to ensure that it’s scalable. By doing this, you’re going to unlock much more potential about your target clients by engaging and enticing them via their beliefs, which most brands lack in their marketing campaigns.

 

  • New influx of value-based pricing agreements

As high-cost drugs are coming into the market at a higher frequency, the question of how these drugs will be paid for is growing in prominence.

Pharmaceutical sales teams are looking into adopting value-based contracting to be used as an important platform for stakeholders to turn to as it provides a structure and mechanism to ensure that needy patients have access to these higher-cost drugs and ensure they are used appropriately.

 

  • Focus on your brand’s culture

To ensure your brand remains relevant in the market in 2022, your marketers and managers should learn to build a positive culture that motivates and satisfies customers and workers altogether.

Better yet, a focused brand culture aims to build a positive brand image that attracts a significant number of partners and stakeholders. You can start by defining your brand’s values, objectives and  goals you would like to achieve that can not only satisfy your customers but also make them more comfortable with the products and services you offer.

Sales teams will then embody this ‘culture’ and serve as advocates for the brand they represent.

To make the most out of your brand’s culture, be sure to spend most of your time addressing your marketers and other employees to ensure they focus on an identity that helps to elevate your products and services.

 

  • Diversity, health equity and inclusion

To fully grasp what patient support and engagement means, pharmaceutical companies need to understand patients' holistic human experience.

Certain populations in the United States, particularly people of colour, face reduced access to healthcare providers, treatment, and health education. The high costs of healthcare and prescription therapies often force patients to choose between paying for rent for instance or paying for healthcare. If pharmaceutical sales and marketers are able to incorporate inclusivity in marketing strategies and redesign their patient support programmes, this will help ensure a good reach that includes the most vulnerable patients. Pharmaceutical companies are likely to see better results with therapy adherence and compliance as well.

Singapore’s healthcare system can also improve by taking into consideration the experiences of people from marginalised communities to meet their healthcare needs more effectively. This ensures that we can meet the needs of marginalised individuals such as migrant workers, people with mental health conditions, and those who battle with substance abuse.

 

  • Keeping in touch with the market and various stakeholders

For sales and marketing jobs in Singapore within pharmaceuticals, keeping in touch with the changes within the market is key. This can include the analysis, planning and implementation of new sales techniques as well as marketing strategies that can attract target audiences that invariably achieve organisation-wide objectives, such as market share, revenue, or sales volume.

Just as patient preferences change, so does the consolidation, outsourcing, acquisitions, and partnerships within the supply chain. It is therefore crucial that systems, cultures, and marketing messages are integrated to capture the right value and made known to target audiences.

Pharmaceutical marketing cannot exist in isolation and will mostly work together with sales departments, representatives of the products or Health Care Providers. This is often the case because producers of pharmaceutical products rarely sell their products directly to consumers. Instead, the product goes into the market via pharmacies, hospitals, wholesalers, retailers, or other intermediaries to get to patients. Similarly, sales representatives of supply chain manufacturers are required for organisations to buy and sell from each other. The very nature of the industry dictates that multiple decision makers are involved, meaning that marketing strategies must consider the use of sales (and other middlemen) to be successful.

Effective pharmaceutical marketing management requires marketing to be fully aligned with sales whilst working towards the same commercial goals.

 

Top sales and marketing pharmaceutical jobs in Singapore

Below are some of the markets we cover under Sales & Marketing, as well as some of the top permanent jobs in Singapore:

 

Diagnostics & Lifesciences

  • Service Manager to Director
  • Application Manager to Director
  • Marketing Manager to Director
  • Product Manager
  • General Manager
  • Managing Director
  • Business Manager to Director
  • Commercial Manager to Director
  • Sales Manager to Director
  • Channel Manager to Director

 

Equipment & Surgical

  • General Manager
  • Managing Director
  • Business Unit Head, Director or Manager
  • Business Manager to Director
  • Commercial Manager to Director
  • Sales Manager to Director
  • Channel Manager to Director
  • Marketing Manager to Director
  • Product Manager

 

FMCG & Consumer Health

  • Marketing Head
  • Category Director
  • Commercial Director
  • Business Development Manager
  • Sales Director

 

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