For good people, opportunity is still knocking
Pharma and medical marketing are more overwhelmed by regulation and scrutiny than at any other time in history. An industry once vaunted as a benchmark for excellence has devolved into popular fodder for criticism from all corners.
Patent expirations, mergers and vendor consolidations are now common occurrences. Marketing practices acceptable in many industries are considered sinister in ours. Basic activities designed to promote products are reviewed in media in a less than balanced manner.
Add in layoffs of unprecedented size and frequency, and the current environment has become daunting for anyone working within pharma and its affiliated service organizations. We've all seen friends and coworkers have their compensation eroded, lose their jobs or spend an inordinate amount of time just trying to find a job.
Pharma and medical marketing will have an enduring future. Technological innovation and patents will not solely drive the future in this industry.
If you listen to senior leadership from pharma firms or associated service providers, “good people” are always mentioned as a key concern and critical need. In fact, success in medical marketing is dependent upon talent as much as technology, and the opportunities for those who can distinguish themselves and deliver beyond expectations are more abundant than ever.
With this in mind, here are a few things that you can do:
— Learn all aspects of the industry
— Know your brand(s) and your competitors' brand(s) intimately
— Focus on learning
— Refine and improve your communication skills
The best and most successful people in the industry intimately understand its nuts and bolts, their products and their competitors'. They learn on an ongoing basis in order to improve their ability to compete and contribute. Their communication skills are an asset that support and reinforce their positions and points of view. And they network to improve their relationships and enhance their understanding vs. just passing around business cards to improve their contact databases.
They recognize that their success is dependent upon what they do, not solely on outside factors that are out of their control. In essence, they capitalize on the opportunities in front of them and work to make themselves relevant, both now and in the future.
What do you do?
Mike Myers is President of Palio