Friday, May 2, 2008

Interview with a Pharma Marketer, Emilio Vera, Part 1

I interviewed Emilio Vera, a seasoned marketer who entered the Pharma marketing scene 15 years ago after a career in packaged goods, way before there was a DTC conversation. In this 2 part interview he shares with us the state of the industry, what the future holds and the why of his choices.

Interview with a Pharma Marketer, part 1.

1. Why have you chosen pharma marketing as an industry to focus on?
Frankly, I feel that Pharma has chosen me. Our company corals business networks within the marketing industry. There are several determinants that make it right for an industry to need us. 1) there must be common questions among the industry that are going unanswered, 2) there must be a level of complexity in the issue that will need some degree of “explanation” from a central source, 3) there must be enough advertising and marketing dollars spent in the category to warrant media properties backing our network, financially and 4) there must not be a lot of other organizations in the particular industry. 5) There must be demand for bringing the people of an industry together face to face. We had demand before we had a product to sell.


2. I often ask "what of the contributions of marketing to the world?" Sometimes I have better luck than others. How do you believe pharma marketing contributes to the benefit of the consumer?
I presume you are referring to DTC advertising in the pharma industry. The value of business marketing in the pharma industry speaks for itself and I would be happy to elaborate on what value it delivers to society. But in keeping my answer to the DTC side of the equation, I can tell you that it adds a great deal to society.

You see, there are two forces constantly at odds in commerce: 1) “The Value of specialization” and 2) “The power of Self interest.” These two forces always have—and always will--characterize capitalistic commerce.

In response to the first item, division of labor is good for an economy. It allows people to focus on what they are good at, and affords them the opportunity to deliver this “good” to society in exchange for tokens of value (usually money).

The other force is that the more information the consumer has, the better equipped he is to make his own decisions.

So, if you take these two concepts “professional specialization” and “individual empowerment” you can understand why I feel that DTC advertising in the pharma category is a “good thing” for society. It taps our inherent drive for self interest to gather as much information that we can about certain pharmaceutical needs and ideas and combines it with a Doctor’s ultimate specialized authority to ultimately prescribe these medicines (or veto their prescription). The net result is that the patient is taken care of more fully, more accurately and by investigating all avenues possible.


3. What is the greatest challenge in Pharma marketing today?
The greatest challenge is educating the industry on itself. This is not just any kind of marketing. Pharma marketing has its own lexicon, its own jargon, its own standards of acceptability, its own culture. In one sense I feel that the industry does not know that it is an industry at all. Guess what? It’s the last to know. I think that any organization that can help bring focus and structure to the people and players in this field is doing the pharma industry a very big favor. This is why we have thrown our hat in ring.


4. What do you think must change in pharma marketing?
Good question. Because there is a lot that must change for this industry to grow into itself to its fullest potential. However, if I see one obstacle, it's that I see a large degree of animosity between the regulatory arms of the industry and with the marketing arms of the industry. In short, the two areas have got to learn to each play nice in the same sand box—or nothing will get done. Walls need to be torn down. Minds need to be opened within this industry.



5. What would you say is the greatest innovation in pharma marketing so far and what do you hope to see in the near future?

The use of the Internet. Think about it. The Internet is a lean forward research tool used best to peel back layers of information before making an informed purchase. Branding on TV with sight sound an motion will keep a brand top of mind. But it won’t really matter if its not a right fit. The first thing that either patients or doctors do when exposed to a new pharma TV ad is to check it out online. Do you want to know what will be the biggest innovation in the future—tapping the Internet as more than a pharma marketing research tool. The company that figures out to convert the Internet to a transactional sales channel is the company that will lead this industry for decades. It will take a lot of work—far deeper than merely technological work. But someone will do it…and change the industry of pharma marketing for ever.

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