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Advice You - Viral Marketing - Impacting Established Brands
In a rapidly changing technological landscape, some high profile brands are facing the challenging decision of whether to embrace 'viral' marketing campaigns. As there can be no assurances with each viral project, executives do not have the 'usual' facts and figures to make a well-informed and substantiated decision.
By its very nature a viral project must be unlike an
By its very nature a viral project must be unlike an
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
ything that has been done before.
This means there is no formula, no statistics, nor guarantees. Results can only be proven retrospectively, by which time it can be too late for those results to have any more meaning than the knowledge that viral marketing works in principle. Even the most successful new media viral campaigns would likely not be able to generate anything like t
This means there is no formula, no statistics, nor guarantees. Results can only be proven retrospectively, by which time it can be too late for those results to have any more meaning than the knowledge that viral marketing works in principle. Even the most successful new media viral campaigns would likely not be able to generate anything like t
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
e same results if replicated by another company simply wanting to emulate that same success.
Viral marketing is in this way a high risk, high gain means of marketing. It is changing all the time and there are not really any experts that can accurately predict how the marketplace will respond. Fortunately the cost is not measured in financial terms, but only in the way the publi
Viral marketing is in this way a high risk, high gain means of marketing. It is changing all the time and there are not really any experts that can accurately predict how the marketplace will respond. Fortunately the cost is not measured in financial terms, but only in the way the publi
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
perceives the brand. Get it right and a brand can become suddenly very prominent in secondary media articles and traditional media. Get it wrong and the brand's reputation can be affected negatively. Sometimes this secondary (and free) publicity ends up impacting the campaign more than the viral content itself.
Large, slower moving corporations are being startled into respondi
Large, slower moving corporations are being startled into respondi
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
g to these changes as best they can. Smaller and more progressive companies are challenging the old stalwarts of business by using whatever viral means they can to establish greater market share.
Often the biggest and most well respected brands are not accustomed to this radical and non-traditional approach to marketing, having spent many years establishing an expensive, rigoro
Often the biggest and most well respected brands are not accustomed to this radical and non-traditional approach to marketing, having spent many years establishing an expensive, rigoro
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
sly consistent and highly polished corporate identity. Their company identity may well have evolved over several decades. For such a company to consider the idea of diluting the brand into something generic, cheap, gossipy, comic, populist, or otherwise remarkable to the masses raises red flags and executive concerns. These executives naturally fear losing the consistency of the
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
r on-brand message, or the particular 'look and feel' of the brand as predetermined in their own internal corporate style guides.
Yet those corporations that are taking risks in the way they present their brand by embracing this viral trend are already observing great benefits, with lower costs and higher response rates from their target market. They are perceived by their targ
Yet those corporations that are taking risks in the way they present their brand by embracing this viral trend are already observing great benefits, with lower costs and higher response rates from their target market. They are perceived by their targ
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
t demographic as 'cool', 'hip', 'cutting edge', and 'in touch' with a changing world.
Consider Nike(tm), Adidas(tm), and Pepsi(tm). All three brands have used viral marketing as a mainstay of their digital FIFA World Cup 06 football campaigns.
The power of viral marketing is that people willingly pass it on for free, which means there are no manufacturing, packaging, licensing
Consider Nike(tm), Adidas(tm), and Pepsi(tm). All three brands have used viral marketing as a mainstay of their digital FIFA World Cup 06 football campaigns.
The power of viral marketing is that people willingly pass it on for free, which means there are no manufacturing, packaging, licensing
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
or distribution costs. The total cost of ownership includes only the cost involved in creating the initial idea and the actual content.
How viral marketing works In all instances an initial 'viral' concept must be developed and published either to a website, in an email, as a mobile phone message, or through some new or emerging distribution channel.
Some of
How viral marketing works In all instances an initial 'viral' concept must be developed and published either to a website, in an email, as a mobile phone message, or through some new or emerging distribution channel.
Some of
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
the most effective viral content is quite poor in production quality and often quite controversial if not offensive to some, but if successful will be high in public appeal. This can also be an obstacle for some executives whose brand has been built on maintaining the highest production and moral standards in all printed and televised materials. Sometimes the more professional o
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
polished something looks, the less likely the end-user will be to consider the source credibly worth passing on. In some cases, the corporation funding or initiating the viral content will actually distance themselves from the content and claim to have no knowledge of how it came to be, nor that they had anything to do with its creation. This is all a public relations angle to
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
mprove the chances of the mass market accepting the content as non-intrusive. People know only too well how annoying it is to receive materials that are not directly known beforehand to be of value to the recipient.
If on the other hand, the recipient or user is actually stimulated to respond emotionally to a piece of viral marketing i.e. anger, disgust, joy, sadness, laughter
If on the other hand, the recipient or user is actually stimulated to respond emotionally to a piece of viral marketing i.e. anger, disgust, joy, sadness, laughter
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
etc. they will likely also want their circle of friends to experience the very same thing. It is the very targeted nature of a 'circle of friends' that makes viral marketing so effective. The old anonymous saying has some merit in this context ...
If a company or brand can make a solid impression on any si
'Birds of a feather flock together.'
If a company or brand can make a solid impression on any si
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
gle individual within a selected group, that person will likely share about it with their 'flock' knowing that it will also be of interest to them.
A viral campaign could end up affecting several million highly targeted consumers, which to achieve using traditional media would potentially cost as many dollars, Pounds, or Euros as the amount of consumers reached. Generating a re
A viral campaign could end up affecting several million highly targeted consumers, which to achieve using traditional media would potentially cost as many dollars, Pounds, or Euros as the amount of consumers reached. Generating a re
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
urn on investment using traditional media has a greatly reduced profit margin in comparison to the miniscule investment involved in initially creating a piece of viral marketing.
The importance of embracing viral marketing Increasing bandwidth is now making possible for the first time such things as video on demand, live video, IPTV, and other formats of rich
The importance of embracing viral marketing Increasing bandwidth is now making possible for the first time such things as video on demand, live video, IPTV, and other formats of rich
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
edia interactivity. Those companies that are harnessing these trends in a creative and viral way are finding themselves to be moving ahead of competitors who perhaps previously held the greatest market share by spending large sums of money in the traditional media.
The success of a viral marketing campaign can only really be measured in terms of how many people visit or view a
The success of a viral marketing campaign can only really be measured in terms of how many people visit or view a
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
iral site, or how many times an email has been read and so on. In some cases it may also be possible to measure click-through conversion via a call to action, although this level of transparency can often also become an obstacle to the tool becoming viral in an epidemic way.
There are currently very little hard statistics demonstrating conclusively that viral marketing makes a
There are currently very little hard statistics demonstrating conclusively that viral marketing makes a
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ifference to the bottom line, yet there is no doubt that this type of content is being seen by millions of people. Much like television advertising, it is not always clear whether people are buying product because of the advert or in response to a variety of brand promotions across multiple platforms.
Those large corporations who are struggling to reconcile whether to embrace t
Those large corporations who are struggling to reconcile whether to embrace t
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
e idea of viral marketing now have the advantage that they can learn from some of the world's largest and best-known brands. As these brands have been forced to change their understanding of marketing on a day-by-day basis, so too will all companies wanting to compete in tomorrow's world. In the coming years many more companies with their traditionally established branding will
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
eed to concede that the concepts of marketing are changing right now, and very quickly at that.
By seemingly diluting their brand in order to create generic viral content, these companies can in fact capture the interest of the next generation of media users, thereby building a massive community of loyal customers that not only buy but also recommend their products and services
By seemingly diluting their brand in order to create generic viral content, these companies can in fact capture the interest of the next generation of media users, thereby building a massive community of loyal customers that not only buy but also recommend their products and services
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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