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Amazon Prescribed to Pharma

Amazon started with online shopping, moved into original programming, and now it’s looking to break into the 300 billion dollar pharmaceuticals sector. Having already sold medical equipment on its U.S. website, it’s no stranger to the medical industry. The health care industry accounts for nearly 18% of the U.S. GDP so this could be a big move in extending their business.

Regulatory Issues

While Amazon has cornered the online market, safety issues will play into factor when it comes to selling Pharmaceutical products. Amazon will have to deal with FDA clearance, doctor authorizations, prescriptions, insurance, and deductibles. According to Fortune, “given the company’s need to continue its sales growth, improve profit margins, and justify its stock price, pharmaceutical distribution may be just what the doctor ordered.

amazon-pharma

We’ve Got Company

Amazon isn’t the only company that’s looking to diversify itself with Pharma. In fact, Johnson & Johnson is investing in online video giant YouTube for their new foray into original programming. Since Pharma plays such a huge role in the U.S. health care industry, it’s no wonder that they are getting involved with the profitable video market.

Sources

http://www.thedrum.com/news/2017/05/30/amazon-eyes-lucrative-pharmacy-push-latest-diversification-drive?utm_content=amazon%2Cretail&utm_campaign=social&utm_source=twitter

http://fortune.com/2017/05/18/amazon-pharmacy-stock-price-prescription-drugs/

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Why Pharmaceutical Marketing Needs Video Content: Part II

Online video is to pharmaceutical marketing as Viagra is to relationships: exciting and engaging, with long lasting, fulfilling and beneficial side effects. If you don't want your pharmaceutical marketing campaign to fall flaccid, you have to pump it up with unique online video content. Online video is sure to deliver inflated results that will increase your campaigns libido. Read on to learn why your pharmaceutical marketing campaign needs video content.

16 minutes and 49 seconds - Average time a consumer spends watching online ads each month

  • According to comScore, the average user spends 16 minutes and 49 seconds watching online video ads every month. These are advertising videos, not entertainment videos! Patients spend less time with the doctor during a normal office visit!  Video content is the perfect regimen to boost sales, inform your sales reps, and educate doctors with concise and entertaining information.  Be sure that your pharmaceutical product or medical device has a proper video for everyone to see.

80 percent of consumers say a video showing how a product or service works is important when learning about the company

  • As important as CPR class and malpractice insurance, a how-to video is critical for your patients and doctors.  Pharmaceutical advertising videos are great, but 80% of consumers want to see how the product works.   This staggering statistic means that you need to have a how-to online video stat! At Concepts Video, we use cutting edge animation technology to show how a new prescription drug or hip replacement works inside the body.  In health care, consumers and doctors are inundated with new complex products that can easily confuse. By using animation in videos, videos allow the patient and doctors to easily understand how new products work inside the body - See link here.

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Credit: Animoto

About half of customers say that 'about the company' videos are the most helpful when purchasing a product/service

  • Not only do consumers want to learn about your product they also want to know about the company to make sure they aren’t receiving quackery.  People are interested in the company's values and beliefs as much as they are interested in the product.  A personal, anecdotal company video is an essential  prescription for all healthcare websites.  

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Credit: Animoto

Get your Yearly Check-Up

  • Unlike wine, videos don't get better with age, be sure to refresh your company video every year or two to stay abreast of cutting-edge technology and current events. Customers also prefer a company that benefits the community.  This is where great social media videos are essential to share up to date activities that are going on inside your company.   

The takeaway from all of this: If you’re not using online video as part of your pharma marketing campaign then you’re missing a massive opportunity.  While the number of people watching online videos is staggering, it’s more important to note how they interact with your videos.  Online videos drive users to company websites which in turn drives sales and builds a customer for life.  At Concepts Video we have an award winning history with 30+ years in video production.  Some of our clients are venerable brands like  National Geographic,  Timex, and Direct TV.  At Concepts Video and we specialize in:

  • Medical Device How-to Videos
  • Pharmaceutical and Medical Device Sales Videos
  • Animation Videos
  • Pharmaceutical and Medical Device Informational Videos
  • Informational Doctor Videos
  • Sales Rep Videos
  • Social Media Videos
  • Social Media Management

 

Methodology
Animoto surveyed a representative sample of U.S. adult consumers to learn about consumer perception and experiences with video marketing as a promotional medium. The web-based survey was fielded December 26-30, 2013 with a sample size of 1,014 (Margin of error +/- 3 percent at a 95 percent confidence level). Photo source: Animoto

 

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Why Pharmaceutical Marketing Needs Video Content: Part I

Pharmaceutical marketing and pharmaceutical advertising are a tough competitive world filled with cutting edge technology, countless side-effects, and nebulous product names that can easily confuse and overwhelm the consumer.  One of the easiest ways to vaccinate against confusion and give the consumer the right treatment is through online video content.  While everyone loves online videos, whether it is cats playing with yarn or corgis chasing a ball, reading statistics about online video content may be a tedious and tough pill to swallow.  If you want to feel better in the morning about your pharmaceutical marketing, then take a few of these and call us in the morning.

 

64% More likely to buy a product after seeing a video

  • Online videos are the perfect antidote for poor pharmaceutical sales. Users are 64% more likely to buy a product after seeing a video; therefore, your company site should be 300% more likely to have online videos for all of it’s products. While most products purchased online are simple consumer products and not prescription drugs or healthcare products; all consumers are going online to educate themselves about any purchase, online or offline.  Be it a purse, t-shirt, or new blood pressure medication, online video is the key source for consumer education.

Service-clock

Credit: Animoto

25% of consumers lose interest in a company if the company doesn't have online video

  • As exciting as reading another double-blind study, a website without any video content will have your patients sleeping faster than Ambien or Lunesta.  Give them a virtual dose of Modafinil with some new video marketing.  At Concepts Video our content is designed to be entertaining while also, informative.  Without any video content, 1 out of every 4 visitors will lose interest in your company and you will lose potential money in your pocket.

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Credit: Animoto

4x the amount of people would rather watch a video about a product than read about it.

  • Video content is more effective than homeopathic remedies with four times the amount of people preferring to watch a product video than read about it.  Everyone dreamed of movie day at school when they were a child and that same concepts applies to adults.  At Concepts Video we specialize in eye catching video and mesmerizing demonstrations that keep the user engaged.  That's why we have won over 100 industry awards.

Users-rather-watch

Credit: Animoto

59% of consumers find it beneficial to watch a video twice before making a purchase

  • Twice! that's right! Nearly 60% of consumers will watch your wonderful online video two times before making a purchase.  This is because consumers want to research a product on their own before asking a doctor about it.  That means whatever you say in your pharmaceutical video is twice as important.  With 30+ years of experience and a team of editors, we guarantee your video will deliver positive test results.

 

Want to learn more about online video? Stay tuned for Part 2 on why pharmaceutical marketing needs online video content!

 

Methodology
Animoto surveyed a representative sample of U.S. adult consumers to learn about consumer perception and experiences with video marketing as a promotional medium. The web-based survey was fielded December 26-30, 2013 with a sample size of 1,014 (Margin of error +/- 3 percent at a 95 percent confidence level). Photo source: Animoto

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