JC Lupis | Marketing Charts | Mon, 07 Mar 2016 14:00:31 +0000

Source: Medical Marketing & Media (MM&M)MM&M-Medical-Marketers-Budget-Allocations-Mar2016

    Notes: Professionals meetings and conferences occupy the largest share (13.7%) of medical marketing budgets, closely followed by sales representatives (13.3%) and collateral (10.3%), per results from an MM&M survey of senior executives at pharma (45%), biotech (21%), device (28%) and diagnostics (6%) companies. While digital marketing and advertising channels occupy a smaller share of the overall budget, in combination they capture a significant share while also being more commonly used than traditional advertising channels, per the report.

    The results indicate that physicians and specialists are the top-ranked audience by perceived importance according to 62% of respondents, with patients/consumers (15% ranking first) next on the list.

    Overall, 62% of respondents are increasing their marketing budgets. Biotech (71%) companies are the most bullish on budget increases, though a majority of pharma and device (58% each) companies plan to increase their total marketing budgets.

      Related: Share of Digital Ad Dollars Spent on Branding, by Industry, in 2015

        About the Data: The survey was fielded between November 2015 and January 2016 by MM&M in association with Guidemark Health. More than two-thirds of respondents are director-level, with the remaining 31% in the C-suite. 4 in 10 respondents come from companies with more than $500 million in revenues.

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