Vertical Marketing to Rx Prospects

Pharmaceutical firms offer hot potential for print sales, particularly digital printing. The most recent Fortune 500 survey identifies the pharmaceutical field as the third most profitable U.S. industry, with a return on revenue exceeding 14%. The Rx market is one of the largest buyers of print—more than $8 billion worth in the U.S. alone.

There are approximately 100,000 pharmaceutical sales representatives in the U.S. pursuing some 120,000 pharmaceutical prescribers. Each carries a supply of printed material as they travel from doctor to doctor and hospital to hospital. Most of the print in the pharmaceutical market is based on one or more of three categories: 1) promotion for new customers; 2) communication with existing customers; and 3) internal processes such as record keeping and training.

The major opportunities for digital printers lie in the informational product marketing campaigns, which can utilize: on-demand printing for technical documentation and promotional materials; variable-data printing for direct mail to consumers; and automation of workflows to regulate inventories and maintain fulfillment obligations.

The pharmaceutical industry is large and diverse. To sell printing to this industry, there are two points of contacts: the marketing staff and the purchasing staff. These departments prefer to work with creative and effective print providers who offer new ideas in terms of supply-chain management and innovative marketing approaches. Using direct mail to reach these key decision-makers is an ideal way to illustrate your capabilities and experience with variable data and personalization.

You should try to convey some or all of the following six key messages when selling to pharmaceutical organizations: asset management; easy document revisions; timely distribution methods; automation of informational workflows (from input of patient records for prescription fills, to printing of the labels); staying informed on the regulatory and security issues of the FDA; and security innovations and workflows to prevent counterfeiting, especially with drug packaging.

Integrated services are an excellent means of attracting pharmaceutical companies. Some possibilities to consider: end-to-end direct mail services from creation to fulfillment; integration of marketing materials from print to Web; workflow automation; supply chain management; and mechanisms for measuring effectiveness.

The benefits of affiliations should also not be overlooked. Many digital printers are members of national, regional and local medical organizations. Connections like these provide better access to the industry and can heighten your firm's credibility with potential customers.

The insights above draw upon Set 3 of the Marketing for Digital (M4D) report, which was released at the beginning of this year. M4D research is conducted by the Digital Printing Council in conjunction with PIA/GATF. As one prong of the association's Year of Digital Print initiative in 2006, M4D provides digital and conventional printers with information to equip them to sell their services to 24 specific vertical market segments.