Buy Low, Sell High

Buy Low, Sell High

Good buying opportunity. Check out Paul Kedrosky for some insight.
Corporate Blogging

Corporate Blogging

Interesting take in why corporations should not blog. I'll add an 11th for Pharma/Med Device organizations...it can get you in trouble, which I have noted here and here.

I will say that I think it extremely valuable for SMBs and those who can put the effort in to do it right. For those that can, it is a tremendous asset for connecting to customers, managing a proactive PR stance and secondary benefits in SEO, among other reasons...

Here's another take as suggested in the comments of the article.

Uh-Oh

Uh-Oh

According to the results of a new study, about 45,000 US physicians meet via online video with sales reps, and more than 300,000 have shown interest in interacting with sales or other company representatives online.
Data from the study by Manhattan Research reveals that physicians who are already engaged in video detailing with sales reps are, for the most part, highly satisfied with their experience. This attitude may help to explain why these physicians are consistent users — physicians already participating in live video detailing sessions - do so with an average of seven sales reps per month. According to Manhattan Research, some pharmaceutical companies are already including this communication strategy in their plans.


I'd love to say that this is a new trend, but I have been tracking online usage in the US and globally in Pharma and Med Device for the last eight years, and this trend has been coming--for years. Distance learning, eDetailing, is one of those things that is always a year away and has been that way for many years.

I think there is confluence of things that affect the lack of adoption by companies despite the fact that Doctors, by all measure have been embracing it for a few years. I don't want to minimize the issue, because it is complex and more complex than I frankly want to detail here, but the fact is that Doctors don't want to see sales reps in person or during office hours. They have made it very difficult for sales reps to get in and then if they do get in and beyond the front desk person or the Practice Manager, the average visit is somewhere in the neighborhood of 2-3 minutes.

However, companies have been slow to adopt new technologies that enable new pathways to the doctor for a few reasons:

-This is a whole new model that could be uncomfortable for sales leadership
-Unless forced to change, change doesn't come easy
-It's technology based

I honestly see a groundswell occurring in this area with tremendous growth opportunity and this model of reaching out to the doctor is unavoidable. There is so much activity on developing consumer experiences, but marketers forget that doctors are consumers too and experience is important. I would be moving quickly towards this as a way to reach the doctor. So rather then bring in the same sales guy in the same suit, I would move towards incorporating an innovative and unique way to get your message in front of the doctor via video conference, edetailing or other forms of interactive. It is especially effective in product launch scenarios or opportunities when you really have something new to say.

Meanwhile, Doctor's are waiting....
Go Irish

Go Irish

I'm not yet swayed that this Irish team is truly on the path to "Return the Glory." I'm seeing an uneven offense and an improved defense, but weaknesses still glare. Primarily the OL and DL in my estimation.

Here is a link to a friend of mine who writes for Blue and Gold Illustrated. Besides being a great guy, he near encyclopedic knowledge and memory is something to behold. Go Irish.
Moral Hazard

Moral Hazard

I thought I would resurrect a post I wrote in April about moral hazard. We're still getting beat up.
Is It Now Safe?

Is It Now Safe?

Recent news demonstrates that US business stalwarts GM and P&G are moving all in with respect to to digital.

While it came as no surprise to me, is it safe to say that this move by two very large multi-national organizations somehow legitimizes interactive and digital in the eyes of marketing executives in other industries? Whether that is admitted or not remains to be seen, I think it does and will.

There is a fairly well known adage in IT that "no one ever got fired for buying IBM," which has now morphed into Microsoft. Nonetheless, the same premise goes for online. While you can point to Viagra and its ilk as innovative, I think it is safe to say that there have been too many safe bets in pharma/med device. I expect that to begin to change.
Napoleon

Napoleon

If there is a music artist that I consistently come back to year after year it is Ani DiFranco. I was turned on to her back in the mid-90s and her double album Living in Clip was the seminal album for me in the 90s. It was and is brilliant, powerful and evocative.

The reason I raise this is because a few of her lyrics from some very powerful songs are absolutely embedded in my head and her lyrics are often political and we're in a political season.

TV v. Web: Who Ya Got?

TV v. Web: Who Ya Got?

Great talk by Peter Hirshberg on TED between the "sibling rivalry between TV and the Web." Check it out...

As I sit and watch TV, pull up video from YouTube and write a brief post on a topic that is of interest to me, I'd say fragmentation is in full effect.

DTC + Ortho = Coach K

DTC + Ortho = Coach K

Finally, I saw it. I had been calling it for a while and leave it to Depuy, a Johnson & Johnson company to be the first, at least from I have seen to go to television with their DTC efforts. I've talked about this quite a few times in the past and I've frankly been waiting to see who got there first. I am not surprised it is Depuy. Zimmer is still the leading pure-play, I would say that unless they get their marketing in order they are at a decided disadvantage in playing catch-up despite announcing last week that they are buying the spine division from Abbott. That seems like a short-term band-aid to goose the top line sales a bit and at around 100 million, it is a relative rounding error for Abbott. With that small of a revenue contribution, I would bet that the spine business coming from Abbott is a relative mess, but I digress.

Any J&J company is a formidable opponent as they are as much a consumer packaged good company as they are a health care organization and they have a modus operandi that I have seen across multiple business units (diabetes, in particular) that flat out works. See other commentary on Ortho DTC here, here, here, and finally here.

It is straight out of the J&J play book as they signed a recognizable person to launch their campaign. Coach Mike Krzyzewski (Coach K) coming off Olympic Gold and Head Men's basketball coach at Duke University. A great coach, a recognizable face and he had a hip replacement a few years back. It's a brilliant play, so to speak and Depuy has the usual integration that you would expect to see. A dynamic web site to accompany the campaign, which you can check out here. If you Google Coach K you'll find a sponsored ad and they have the TV spot. Although I would have expected that they would proactively post it to YouTube, which I couldn't find.

Pretty impressive overall for Ortho and Med Device. The decision life cycle can be long in joint replacement I am sure they want to raise the awareness and begin to drive the conversation for people deciding on some joint replacement surgery. Despite the economy and the fact that spending is down, orthopedics is pretty insulated its a great move by Depuy to move in now. I'm sure Ortho docs aren't upset that they are potentially driving more people into their offices and coupled with the "consultant agreement" issues that Zimmer took the hammer on, I'm sure there is some secondary goodwill being earned by Depuy through this campaign. Not to mention that it gives their sales reps something to go in and talk about in sales calls. Win, Win, Win...

With the internal issues that Zimmer has had it will be interesting to see if they stay the course or if they will counter in some way. I just checked Zimmer's web site and it still has a way to go to become focused on the customer and to bring it current. I'd even say that with the commercial, Web site and activity that they might be a full 12 months or more behind if they want to remain at parity in their marketing efforts.
Too Funny To Pass Up...

Too Funny To Pass Up...

Here is a clip of Pennsylvania Gov. Tom Ridge commenting on John McCain. What's funny is that I don't even think this is Freudian, it sounds deliberate. Ridge may be a touch bitter about not getting the Veep gig.

To give this a little interactive tone, the Internet has completely changed politics and campaigning. It has been fun to watch it evolve.

Prep for Football Season Part IV

Prep for Football Season Part IV

I promise I'll get back to marketing shortly. I've been distracted with late summer wrap-up...

In other news, Herbie finally looks like he's past 30.






This has nothing to do with....

This has nothing to do with....

With interactive marketing, but seriously who is going to do the voice overs for movie trailers? This guy, Don laFontaine is embedded in my psyche.

R.I.P

Marketing is (Nearly) Dead

Marketing is (Nearly) Dead

A couple of quick thoughts...first is that while attending various festivities of the Labor Day weekend, I noticed that the iPhone has at least 50% penetration among my peer set. I don't think an early adopter product any longer. I'm not sure if the 3G network and the new phone brought the onslaught or it is reaching killer app territory, but when the 40+ mom swooning to Adam Levine from Maroon 5 and is taking multiple pictures and texting with someone with her iPhone I know it's time for me jump on the bandwagon.

With that, while watching a sea of humanity of probably 20,000 people at the Counting Crows concert, while I have known it for quite some time, but never had actually visualized it, fragmentation is here and I'll go out on a limb and say that marketing as it is commonly defined is dead.

The age range was from teens to late 40s as far as I could tell and at any point during the concert you could see people talking on their phone, texting or taking pictures, this is while at a concert. If that isn't a captive audience I don't know what is.

Taking it a step further, as a marketer, how do you get your message across when your audience is not captive? Difficult. It's why I think online there is little to no margin for error anymore when it comes to investing in the "channel" if you will. You have to have the right message in place at the right time for when you may get a chance or you are flat out losing opportunity.

It may not be a game of who does it, but really who does it best and I would bet that some smart companies have figured this out already and are investing accordingly. For Pharma and Med Device, who are just figuring it out, I would recommend a very critical review of marketing priorities, goals and strategies to get there. I think the results will surprise you for both consumers and HCPs.