What a difference five years can make! It is hard to believe how far online marketing has come in the past five year. In these five years, the way we research and purchase goods and services in the United States has dramatically changed.
Smart marketers have stepped to the plate and capitalized. eMarketer reported that the there was $7.2 Billion spent in online marketing and advertising in 2003. In 2008, this number will likely climb to 3-fold to topple the $23.8 Billion mark. Again, what a difference five short years can make.
Have pharma marketers climbed on board and benefited? In 2003, $291Million was spent in the US in pharma and healthcare advertising and marketing, online. Today, this number has increased 4-fold to $1.2 Billion.
In "Will Pharma's Big Ad Spend Move Online?"
eMarketer claims pharmnaceutical marketers plan to increase their online marketing spending this year and decrease spending on traditional media.
The internet is both a research tool as well as a sales tool—and it is a particularly fertile space for pharmaceutical marketers. I am not surprised by the growth we’ve seen in online marketing, in general (3X) and I am certainly not surprised at the (4X) growth in online pharmaceutical/healthcare marketing, online.
Will the pharma industry’s tapping of the online medium/channel continue to grow at this rate? Time will tell.
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