The ‘Exit China’ mantra is an open international secret now. As per some reports, more than 1000 firms are mulling shifting their production to India. The Union Minister of Road Transport and Highways and MSMEs Nitin Gadkari is estimating an investment of ₹25 lac crores to come into India’s manufacturing sector. Apart from manufacturing, we see a thick silver lining for Indian pharmaceutical companies.
Ever since the global financial crisis of 2008, the world had been blinded by consumption. The world added thousands of McDonalds, Starbucks, hotel rooms and flights but it hasn’t added many hospital rooms. The world has clearly failed to plan against a pandemic and that has left all the countries highly vulnerable to Covid-19. But the world has also learnt its lessons and countries have become wiser. Hence, the next decade will belong to the growth of what we say the health infrastructure. This means addition of more hospital rooms, more ICU beds, introduction of new diagnostics and testing tools and most importantly new breakthroughs in vaccines & medicines. This outlook has resulted in many countries stressing on the necessity of low cost medicines for all diseases. With growing negative sentiments against China, Indian pharmaceutical companies can capture a huge portion of this pie. This is the silver lining that we are talking about.
But there’s a lot of groundwork that the Indian pharma companies need to complete, especially on Digital Marketing. The Indian pharmaceutical companies, weighed down by the strict guidelines, have never prioritised the need for digital marketing, be it for their markets in India or internationally. Now in a post coronavirus world, which is digital first, Indian pharma companies will have to ensure that they score high in the digital world by way of:
- Searchability – Being visible and getting discovered by the audience that is searching for pharma products in the market
- Desirability – Being the top choice for business from among all the shortlists
- Influenceability – Hold a large amount of influence over the choice of the decision maker
- Availability – Be accessible for all types of business transactions on their own website or 3rd party portals
- Identity – Have a strong website that speaks the brand personality
We did say that all Indian pharma companies are in need for a complete digital transformation. Indian pharma companies that digitally transform their outlook and marketing will win. And, we can help you win this by strategising & executing your company’s digital transformation.
Indian pharma companies are standing on a gold mine. And we have got the tools to help them extract the gold. Hit reply and we’ll get you started straight away.