The rise and rise of digital budgets

The digital revolution is changing the way budgets are allocated and spent by pharma ’s commercial and medical functions in 2022 and beyond,according to new research from Reuters Events Pharma and Elsevier.The resulting report, titledThe New Era of HCP Engagement explores how the accelerating changes and fast emerging trends post-Covid in marketing, commercial, sales and medical affairs are affecting and will continue to affect budget and resource allocation in the near future.It reveals how in the promotional space, digital channels are already leading the way. And commercial spending in digital is set continue to take an ever larger share of promotional budgets as print ' s share of spending continues to dwindle.  By 2025, spending on digital promotion is expected to increase as a share of total promotional budget from 63% to 78% while spending on print promotion is expected to drop from 35% to only 21%.Budgets for educational spending in marketing and medical affairs will rise in the next three to four years, and will be led by conference/meeting webcasts spending (66% of respondents expect a budget increase), education platforms (64% say it will increase), CME (59%) and patient education materials (58%).Increases in promotional budgets in the next three to four years will be the greatest in digital advertising (with 44% expecting increases of 10% or more), followed by virtual meetings and events (where 31% expect 10%+ increases).When it comes to the most important fact...
Source: EyeForPharma - Category: Pharmaceuticals Authors: Source Type: news