{"id":135417,"date":"2018-06-11T12:09:26","date_gmt":"2018-06-11T10:09:26","guid":{"rendered":"https:\/\/www.bluenovius.com\/?p=135417"},"modified":"2023-04-14T17:19:30","modified_gmt":"2023-04-14T15:19:30","slug":"pharma-brand-loyalty","status":"publish","type":"post","link":"https:\/\/www.bluenovius.com\/healthcare-marketing\/pharma-brand-loyalty\/","title":{"rendered":"Secrets to Building Pharma Brand Loyalty"},"content":{"rendered":"\n
With competition among pharma brands being tougher than ever, the fight for physicians\u2019 loyalty has become increasingly fierce. According to<\/span> a study by Harvard Business Review, increasing retention rates with customers by just 5% reflects an organization\u2019s profits by as much as 95%.<\/span><\/p>\n\n\n\n In a competitive market, it is imperative for pharma companies to establish brand loyalty with their prescribers in order to ensure they stay on top of physicians\u2019 minds. However, brand loyalty is one of the most challenging aspects of pharma marketing. Here\u2019s what it means, how it benefits pharma brands, and how you can achieve it.<\/span><\/p>\n\n\n\n Have you ever been asked if you want a loyalty card somewhere? Loyalty programs have been around for decades, and clever brands have amassed fortunes by successfully utilizing them. The idea is simple \u2013 you buy\/use a certain product repeatedly and get a loyalty card. This allows you certain benefits such as rewards and discounts. Trouble is, albeit very neat, this approach does not work for pharma. First off, physicians may be put off by the amount of data being stored about their behavior. Second, using incentives to boost prescription<\/span> rates has been proven as a hit-or-miss strategy before, and it\u2019s time for a novel approach.<\/span><\/p>\n\n\n\n Once established properly, pharma brand loyalty can have deep and long-lasting effects beyond prescriptions. Once a physician is loyal, they become your best brand ambassador. If a physician has multiple positive experiences with your brand, they will actively endorse it to the point of associating their reputation with brand values. This really should be the ultimate goal that all pharma brands should be striving for.<\/span><\/p>\n\n\n\nBrand loyalty in traditional terms<\/b><\/h2>\n\n\n\n
Loyalty beyond prescribing<\/b><\/h3>\n\n\n\n