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SCORR Marketing Unveils Sixth Annual Report on Health Science Industry Marketing Trends
SCORR Marketing, a global health science marketing and communications firm, has released its sixth annual survey on marketing trends in the health sciences industry. This report will enable marketing professionals to make evidence-based brand development, strategic planning, and budgeting decisions.
“Analyzing how players across the health science industry approach marketing — and how well that approach is working for them — provides insight any marketing head can apply to prioritize marketing initatives and benchmark spend and results against the industry,” said Krystle Buntemeyer, president at SCORR.
For example, the survey demonstrates that companies — especially ones with smaller internal marketing teams — invest heavily in trade shows, with half of survey respondents allocating more than 40 percent of their marketing budgets for this purpose. A year earlier, only 35 percent of respondents reported this level of spending.
In addition, while 77 percent of surveyed companies develop annual marketing plans, only 48 percent develop annual public relations or communications plans.
At the same time, although the use of marketing agencies or freelancers increased from 43 percent in 2015 to 68 percent in 2017, it has leveled off, decreasing slightly to 65 percent in 2018. Significantly, when shopping for marketing agencies, companies seek life science and marketing expertise above all else.
The report also indicates variations in behavior and strategic planning habits among CROs, CMOs, and software providers; which services are most frequently outsourced; the varying behaviors of companies with small vs. large internal marketing departments; trends in the use of marketing automation; and more.
Survey respondents were primarily drug development service providers spanning concept to commercialization in North America and Europe, including marketing managers, business development executives, vice presidents, and directors.
Download the 2018 Health Science Industry Marketing Trends Report, available for free at scorrmarketing.com.
About SCORR Marketing
SCORR Marketing is the leading full-service marketing agency for the health science industry. With global capabilities, SCORR partners with companies involved in the research, development, and commercialization of biopharmaceutical and device products, as well as those delivering health care products and services. SCORR provides integrated programs to help clients achieve their goals and improve health and well-being worldwide. Learn more at scorrmarketing.com.