A leading pharma and medical company from Japan, which had a strong hold of its market share, backed by its long-running successful business history, experienced a setback when it found that its growth and existing market share is stunted.
The organization had the goal to increase its market share by a further 5% by the end of 2025, using digital marketing and advertising tactics.
Research Nester offered its brand research solution, which is based upon intrinsic and extensive research on customer experiences, brands, products, marketing and advertising strategies, challenges, opportunities of the market, and how to mitigate the gap.
The Pharma and medical equipment company was set up in 2001. With a wide array of products and market share, their business was expanding slowly. But with internet proliferation, digital marketing became a very important tactic for their business. This was thought through as the market growth slowed and eventually stunted. The company contacted Research Nester, a prominent service provider that excels in strategic market research and consulting. Shifting from the traditional approach was one of the prominent decisions of Pharma and medical company. Research Nester helped the company to understand in-depth about their brand and how better can they improve their reach and brand value. In order to reach a large number of clients, the Research Nester consultants made strategic plans to devise the right digital advertising and marketing strategies. Additionally, they made sure that every advertisement is giving the right message to the customers. Further, they also focused on traditional and innovative ways to advertise the products. The digital approach made them increase their revenue by giving quality services. Social media turned out to be a platform where the company was able to target a large range of audience. Hence, the focus on digital marketing was strengthened with continuous and conscious efforts.
The major point of improvement that needed to be done was in the Pharma and Medical Equipment company’s digital advertising infrastructure. It had not been updated and lacked patching a lot of vulnerabilities. The corporation’s decision for adopting digital advertising was one of the biggest ones. Research Nester consultants suggested revamping of the company’s advertising efforts from a traditional pathway to digital advertising in the following ways-
In addition, RNPL analysts also suggested the company could engage in partnerships with or employ renowned medical equipment firms. This could increase the brand value and brand recognition accordingly. Research Nester concentrated on brand research for digital advertising in pharma and medical equipment by learning about the major market participants globally and examining consumer experiences. They analyzed 10 different companies and studied the competitive environment in the market. Also, they learned the type of content the audience was preferring and made social media strategy accordingly.
In the research conducted by Research Nester, the team predicted the expansion of digital advertising in pharma and medical equipment for the years 2022-2035. Further, the right digital advertising roadmap was devised that works well for the company and its growth. The company understood that it's difficult to take the initiative to introduce something new to the market and to step away from traditional approaches. By interacting with Research Nester, the Corporation learned about the difficulties that can arise when it enters the international market for digital advertising in pharma and medical equipment. When the obstacles are known ahead, overcoming them becomes very simple.
For the predicted period, Research Nester's analysis concentrated on the growth drivers, such as the growing penetration of mobile phones, the surge in social media users, for the growth in pharma and medical equipment companies. By replacing the traditional approach, the Corporation was able to reach a large audience. The company also successfully launched services and was able to create a large reach. They also developed 10 years plan to include a variety of tactics in the field of digital advertising in pharma and medical equipment. This envisioned a growth of 53.2% in 2022 than the previous year of 36.7% in 2020.