COVID-19 IMPACT:

Pharmaceuticals

Industry Update: 30.09.2020

Vertical: Pharmaceuticals
Type: B2Both
Covid Impact on Demand: Positive
Covid Impact on Ability to Supply: Negative
Viable Transition/Readjustment: Yes

We’re just ordinary people.

The business world now recognises that pandemic conditions are here to stay.

SoPro have direct access to several hundred B2B marketing operations, spanning 60+ verticals. In recent weeks we have seen major movement in global sentiment, shifting from defensive tactics to proactive strategy as realisation sets in.

We are now witnessing the largest and most complex change management project in the history of humankind.

The worlds businesses are rapidly readjusting to compete in a new world. Here’s how.

Pharmaceuticals, what are we seeing?

At the consumer end, purchasing is disrupted due to social distancing measures. In many cases demand for basic pharma has increased significantly, although distribution outlets remain unable to service demand due to supply chain disruption and limited wholesale availability. Significant retail demand is currently going unserviced.

At the corporate/B2B end we’re seeing a rapid shift from traditional event-based and face-to-face sales models to digital outreach, direct to health services and retail decision makers. That trend is accellerating as pharmaceutical establishments mobilise their covid response plans.

Corporate sales into the various National Health Services are being prioritised based on situational relevance. I.e. COVID solutions first.

What do these businesses need to do now?

1. Adjust your business targeting

We’re seeing no change to targeting within this sector.

2. Review your marketing channels
MARKETING CHANNELS VIABILITY
B2B Direct Mail

NOT VIABLE

Telesales

NOT VIABLE

Paid Search

PARTIAL VIABILITY

Networking dinners/drinks & Partner Events

NOT VIABLE

Tradeshows and Exhibitions

NOT VIABLE

Radio

PARTIAL VIABILITY

Awards Circuit

NOT VIABLE

TV

NOT VIABLE

Door to door sales

NOT VIABLE

Digital Outreach i.e. B2B prospecting

VIABLE

3. Revise your proposition

Accentuate the competitive advantages that you can offer over and above your competitors, and why these are important now. Tailor your offering to directly help prospects capture and service the current unserviced demand levels.

Typically these will be related to flexibility in production, ordering, and deliveries.

Flexible payment terms are also in demand if you can support this option.

4. Revise your messaging

Revise messaging to set out how your proposition directly contributes to overcoming the current challenges.

Touch on capturing and servicing unmet demand.

Focus on robust distribution models and ability to supply now.

Set out attractive commercial terms if able.

5. Drop the experts a line

At SoPro, business growth is what we do, and we've got the tech and team to quickly generate a healthy pipeline for your business. Our expert team are ready to discuss your campaign today.

Watch Our Video Case Studies

“One of the great things about working with SoPro is the dedicated team of professionals we have at the other end of the phone... For us, there really is no question. Having a prospecting service is vastly more beneficial than just having the tool. Put simply, it’s transformed our business.”

Nick Washington-Jones, Managing Director, Tack UK

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