Home / Intelligence / News / On Average, Pharma Brands Allocated 66 Percent of their Marketing Budgets to Digital in 2020
Waltham, MA, March 29, 2021 — Trinity Life Sciences, a leader in global life sciences commercialization solutions, is sharing findings from its latest TGaS report entitled, “Omnichannel Marketing Center of Excellence Landscape.” Omnichannel Marketing is the orchestration of multiple marketing channels to provide a consistent message to customers at various points during their journey – an important function within life science companies to ensure their brand is accessible. The report finds that on average, pharma brands allocated 66 percent of their marketing budgets to digital in 2020. Both Healthcare Provider (HCP) and Consumer digital budgets increased, but Consumer outpaced 2019 by 200 percent.
“In 2020, there was a significant shift in brand-level budgets toward digital, with digital tactics accounting for 66 percent of the budget,” said Jerry Luciano, Vice President, Omnichannel Marketing at TGaS, a division of Trinity. “This trend is expected to increase in 2021 as rep-access to physicians is likely to remain limited.”
According to the report, COVID has driven digital marketing capabilities that were previously deprioritized to the forefront. It also has resulted in realignment of organizations and processes to be more responsive to customer, business, and environmental needs.
“Omnichannel Marketing Center of Excellence Landscape” finds that people and budget investment in Omnichannel Centers of Excellence have increased in the last two years, a trend likely to continue in the near-term as pharma companies integrate omnichannel into their customer engagement strategy. The report provides guidance on:
- Dominance and types of omnichannel marketing center of excellence structure
- An overview of the size and spend of centers of excellence
- Emerging and waning capabilities
- Considerations for biopharma companies as they create or evolve their center of excellence capabilities
With a roster of large, emerging, and precommercial life sciences companies, TGaS Advisors, a division of Trinity, provides robust comparative intelligence and collaborative network membership services.
Media interested in receiving a copy of the report should contact Elizabeth Marshall at EMarshall@trinitylifesciences.com.
About Trinity Life Sciences
Trinity Life Sciences is a trusted strategic commercialization partner, providing evidence-based solutions for the life sciences. With over 20 years of experience, Trinity is committed to solving clients’ most challenging problems through exceptional levels of service, powerful tools, and data-driven insights. Trinity’s range of products and solutions includes industry-leading benchmarking solutions, powered by TGaS Advisors. To learn more about how Trinity is elevating life sciences and driving evidence to action, visit trinitylifesciences.com.
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