As the industry adopts more technology for marketing solutions, agency revenues will continue to fall. This is just one of the many concerns revealed by our Product Manager Survey—an essential, annual guidepost for the industry. We received an unprecedented response to our survey this year, from 80 companies representing a cross section of individuals in all sectors of the life sciences industry with 65% from pharma, 15% from biotech, and 11% from med device.
While the majority of respondents hold roles such as Director of Marketing or Product Manager, we also received more responses from C-suite executives and even pharma CEOs.
No, we can’t tell you who, as our goal is to provide insights you won’t find anywhere else, and that requires anonymity. But it guarantees more juicy intel for you! Product managers revealed their feelings about the upcoming presidential election. Overall, they weren’t pleasant. People are worried about increased pricing pressures, further scrutiny into mergers, and what’s ahead for DTC. They don’t have faith in what the next president can offer our industry. It sounds woeful—but it’s not all bad!
Many shared insights to meet a myriad of challenges; strategies for dealing with biosimilars competing against your brand; how to avoid ad blocking technology; and, which novel marketing opportunities (virtual reality, Internet of Things, wearables, etc.) are worth future investment.
All said, there are few things we look forward to more than hearing what product managers think about the state of the industry. Although we say it often, it remains true: Product managers are the lifeblood of this industry.
To get an in-depth look at the many challenges ahead, delve into this survey and this month’s features, too. Learn about working with med device managers on combo products; what value payers want to see from your products; and how to work with ACOs and IDNs. You’ll find great insights—and better ways to move forward.
Finally, our Second Annual PM360 ELITE Awards, honoring the industry’s brightest minds, drew a sell-out crowd! And we can’t wait for next year.