“Our customers are currently confronted with a volatile, uncertain, complex and ambiguous environment. They have arrived in a time where daily challenges have significantly higher impact on their marketing success than long-term opportunities and growth potential.” Jürgen Gietl, Manager at BrandTrust. In these situations, we help our customers react to these challenges with the greatest possible agility, without losing their identities. The following paragraphs describe what role your brand can have in this context as an effective management tool for sustainable business success:
1. Greater marketing efficiency under increasing cost pressure
As if the challenges for our customers from their complex environment weren’t enough, they are also faced with new generations of customers, new marketing and sales technologies, tapping into new markets, acquisitions and new product developments. What we see frequently in our consulting projects are highly complex brand portfolios and the necessity for brand and marketing managers to create greater synergies and cost reduction potential by managing their brands. The reason we are asked for help in these cases is that what they get, rather than the desired synergies, is confusion among doctors, pharmacists and patients. The consequences are uncertainty in the buying decision, high willingness to switch brands and increasing price-sensitivity among customers.
In such situations, we support our customers with an easy to understand, well-structured brand architecture tool. The brand and marketing managers themselves assign all relevant brands the right place in the portfolio to create the greatest possible added value with the lowest possible marketing budget. To do this simply and at the same time expertly, the tool focuses on two key dimensions:
1. Significance: What is the role of the individual brand for the success of the whole portfolio?
2. Credibility: How credible do the individual brands in the portfolio fit with one another?
These two dimensions cover up to 12 individual, objective criteria which ensure that subjective assessments by those involved in the brand architecture process are put aside, and that everyone rallies behind a common idea. With this process, we have, for example, provided clarity for an international pharmaceuticals group on how their worldwide company brand can most profitably use the pharmacy brands already successfully established in the market. Within a very short time, the brand and marketing managers at headquarters and the managers responsible for the various markets had been set on the same track to operating in their markets as cost-efficiently and successfully as possible.
2. Attracting the best employees, despite a lack of qualified workers
The demands placed on companies by qualified workers have changed drastically. Our customers are currently experiencing what all the studies have predicted for years: an increasing battle to fill open positions with qualified people, while at the same time those people are placing greater and greater demands on employers.
Many pharma companies have not been in the habit of competing openly with their competitors to attract the best and most suitable employees, and to open up to potential employees in their marketing and communication.
In the future, they will have to focus much more on communicating their culture and the reasons why they are particularly attractive to the next generation, and above all what makes them different from other pharma companies.
In this situation, we help our customers to become aware of what will really make them attractive to their employees. To do so, we use our AI-based Big Data and Thick Data analysis, which helps to determine precisely what needs and motivations drive future qualified employees when they choose a new employer, and how well our customers satisfy those needs with their brands. Thus, our customers benefit directly from their brand as one of the most powerful tools for actively and systematically attracting talent, and for increasing the identification of their existing staff.
Our customers continuously reflect the fact that this process should not differentiate between employer branding, consumer branding and other aspects, but that one and the same brand must be geared toward the different desires, requirements and wishes of the different target groups, from customers to partners, employees to investors. The greatest challenge is to rally the various players from C-level to HR, marketing and sales behind one common idea and earn their support with a combination of industry, brand and change expertise. The insights gained in this strategic work are directly, logically and transparently integrated into the operative work at the touchpoints, aimed at future employees.
3. Pharma brands must create attraction through emotion rather than function
Those who know the emotional meaning of their brand and use it consistently across all channels for their communication with all relevant target groups will be able to generate attention, relevance and attraction in the long term
The pharmaceuticals industry is one of the most digitized industries with regard to satisfying the demands of healthcare professionals and patients with functional, technical marketing and category management, as well as customer management. Especially the Corona crisis and the debate about the effectiveness and compatibility of different vaccines shows that it is not functional or rational factors that decide which product or service is ultimately preferred by the target groups and will prevail in the market. In the future, pharma products will have to be developed and produced twice; once in the labs and production facilities and again in the minds and hearts of the people that need to be convinced.
In our exchange with customers, we see time and again how companies erroneously react with superficial communication campaigns without asking themselves what kind of emotional meaning the respective brand should credibly and attractively represent to set it apart. The profound exploration of the question which No. 1 position the product or company brand should take in the minds of healthcare professionals and patients gives our customers the greatest possible clarity, orientation and energy for the future challenges. Thanks to the corresponding condensation process, every employee and every marketer in the company can convey the No. 1 position and every single person of the target group can perceive it.
That means, those who know the emotional meaning of their brand and use it consistently across all channels for their communication with all relevant target groups will be able to generate attention, relevance and attraction in the long term. www.brand-trust.de