Pharmaceutical companies and healthcare providers face countless digital media options and cumbersome regulatory requirements. Silverlight Digital strives to demystify the digital landscape with precise, effective, strategic, technology-driven solutions.
End-to-End Solutions for a Dynamic Landscape
Industry Growth Outlook
Healthcare and pharma spending will grow 3.7% globally to $35.7 billion in 2020 (WARC). Shifts in spending see TV still leading the pack with the largest category at 55%, but TV growth is slowing at just 0.8% over the previous period. Digital advertising continues to surge as the largest growth category in the space, with a 14.1% increase.
While advertising in this sector remains very complex due to unstable economic conditions and COVID-19, the FDA has been fast-tracking some drugs (particularly those used to treat COVID-19.) For established brands and drugs with a pending FDA approval, it’s vital to have an experienced partner on your side. Silverlight Digital has launched numerous healthcare and pharma brands into the marketplace and can help your company launch its next big campaign.
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For pharmaceutical and healthcare advertisers, there is a belief that great marketing ideas can go straight to the web. Reality is that there are many hurdles to clear before an ad goes live. The brand advertiser or agency – through no fault of their own – may not be properly advised on the many steps and idiosyncrasies of building a strong search, display or retargeting campaign and the many hurdles that pharmaceutical and healthcare advertisers must address. In the end, the expectations held by the brand advertiser, the regulatory agencies, and the advertising platforms, such as Google Adwords, might be incompatible.
Below, we outline two major review processes that can make or break a great marketing idea:
Medical-Legal Review Process
Pharmaceutical and healthcare advertisers are highly regulated by a Legal-Medical review process (also known as LMR’s) which ensure that all pharmaceutical product promotions are medically accurate and comply with Food and Drug Administration (FDA) regulations and other applicable laws. This process is carried out within pharmaceutical and healthcare companies by the regulatory affairs and legal departments in conjunction with medical affairs (medical staff). All educational, technical and promotional materials are reviewed.
Google’s Review Process
In addition to the Legal-Medical Review Process, Google applies its own measures to protect consumers and minimize instances of fraud or misleading advertisements. In some cases, they refuse to advertise certain products or services without exception. In other cases, they regulate messaging and restrict promotional claims. Some of the pharmaceutical and healthcare products and services included in Google review process are as follows:
• Over-the-counter medication
• Prescription medication and information about prescription medication
• Online and offline pharmacies
• Pregnancy and fertility-related products and services
• Medical services and procedures
• Medical devices and tests
• Clinical trial recruitment
• Sexual enhancement treatments