Budget reductions in healthcare marketing

A recent survey of pharmaceutical executives conducted by FirstWord Pharma suggests that lower budgets will be the biggest change in healthcare marketing and communications over the coming year.

Of the 539 people surveyed across 64 countries, 62% expected reduced financial resources. In fact, more than two-thirds of respondents saw this as the largest challenge to be faced in 2011.

Globally, more than half of those surveyed indicated that stricter rules on product advertising would be a key factor during the coming year.

Other changes identified by the respondents included:

  • an increased focus on digital channels for marketing communications
  • the rise of the informed patient
  • a decrease in the use of traditional advertising and detailing aids

What are your biggest challenges for 2011?  Word on Health would love to hear from you.