TV advertising is the multibillion dollar machine that fuels the pharma industry. The industry as a whole invests disproportionately, up to 70% of its total marketing mix(!!!), to reach consumers in a fair and balanced way. This perceivably reliable practice begs the question: can this communications strategy be sustained when increasingly, consumers are cutting cords to traditional cable boxes in favor of watching ad-less, on-demand content and streaming networks like Netflix and Hulu?
While there *is* a generation gap reflected in consumers’ changing media diets, as an industry we must start to embrace new approaches to reach and engage shrinking cable television audiences.
Much like internet usage over the past 10 years, and social media usage over the past five, cord cutting media behaviors will become ubiquitous across younger and older demographics alike. This requires pharma brands to rethink how to safely, creatively and effectively engage patients across digital mediums, to supplement its lost audience share.
To future proof communication strategies against evolving media consumption behaviors, pharma brands can “test and try” in four specific categories