Content is arguably a marketer’s most vital natural resource: It is at the heartbeat of the marketing activities that connect life sciences companies with their customers and patients. But how are life sciences companies planning for and managing the abundance of today's digital content?
To answer this question, Accenture Interactive surveyed 55 pharmaceutical and biotech and 53 medical technology marketing leaders across the United States, Canada, United Kingdom, Germany, Italy and Spain to better understand their attitudes, insights and strategies for managing digital content now and in the future.
Our research found that life sciences companies are producing a massive amount of digital content. Seventy-eight percent of marketers in pharma and biotech, and 95 percent of marketers in medical technology, say their organization is producing a moderate to enormous amount of digital content and assets; while 93 percent of pharma and biotech respondents, and 100 percent of the respondents from med tech, say the volume of digital content and assets is higher today than it was two years ago. And they expect that it will continue to increase over the next two years.
Almost everyone (85 percent across the industries) spends more time managing the operational details of content management and production than they do actually using the assets for marketing and branding. And 82 percent of respondents report that the amount of time they spend on operational details is higher today than it was two years ago, and they predict it will continue to rise over the next two years.
To make matters worse, very few think they are doing content well. Just 13 percent of pharma and biotech marketers and 17 percent of med tech marketers think they leverage content well. Top reasons they give for struggling to manage content include:
Lack of appropriately skilled talent.
Lack of integration across channels.
Poorly laid out marketing strategy as a whole.
Not enough balance of on/off shore solutions.
Also at stake is the cost of content. Notably, 58 percent of pharma/biotech, and 60 percent of med tech companies, spend more than $50 million on content each year.
In our next post, we’ll look at why life sciences companies are not making better use of their content and how they can boost their performance, using content to help them to deliver better health and financial outcomes.
Download the full survey: The state of content survey for Life Sciences