In the past, widely transmitted promotional broadcasts were primarily reserved for blockbuster product launches and new and expanded product indications. However, with the rise of remote work and home offices, their role has expanded significantly. Today, broadcasts are not only a staple in Marketing and Sales strategies but are also integrated into annual brand planning. As life sciences companies become more creative with their promotional meeting mix, broadcasts have been adapted to smaller, more cost-effective, and targeted events. Let’s explore this evolution and understand why it matters.

Inventive new broadcast uses

Broadcasts traditionally were associated with large-scale events — product launches, conferences, and industry expos. These events required substantial budgets and multi-city logistical coordination. However, the landscape has changed and matured, embracing current technologies and the cultural acceptance of using those technologies. Home-office-driven and brand marketing programs now leverage broadcasts in innovative ways. Here are some contributing key shifts:

1. Brand plans: Broadcasts are no longer isolated “special” events. They are seamlessly integrated into brand plans, allowing companies to maintain a consistent message across various touchpoints.

2. Creative meeting mix: Customers are getting more creative with their meeting formats and the mix between virtual and in-person engagements. Customers are no longer relying solely on traditional large satellite broadcasts but are starting to further explore alternatives such as webinar series and host/link programs. These adaptations can allow for greater flexibility and customization, meeting evolving attendee preferences.

3. Maximizing reach on a budget: Smaller, targeted broadcasts are cost-effective and efficient. By reaching a broader audience without the overhead of large-scale events, companies can maximize their marketing and sales budgets.

An evolving formula

As customers consider the evolution of their Speaker Bureau strategy to optimize effectiveness, embracing new technologies and methodologies such as broadcasts and virtual events requires consideration of the following:

1. Sales force size: The size of your sales team impacts the reach of your engagements. Broadcasts allow broader reach for a smaller sales force and more targeted engagements across a wider geography.

2. Speaker bureau size: The size and geographic concentration of your speaker bureau may influence your decision to utilize broadcast/webinars. For example, rare diseases may have fewer speakers and many of them may not be able to travel.

3. Reach and targets: Define your audience. Are you reaching existing segments of your healthcare provider target base, expanding into allied healthcare provider specialties, or a mix of both? Understanding your reach and target goals helps tailor your broadcasts effectively.

4. Product lifecycle: Consider where your product stands in its lifecycle. New product launches may require more extensive broadcasts, while established products benefit from targeted events.

5. Budget: Your budget dictates the scale and frequency of broadcasts. Smaller budgets can still achieve significant impact through well-planned virtual events.

6. Audience preferences: Understand your target audience’s preferences. Some audiences engage better with webinars, while others may prefer interactive host/link programs utilizing dynamic content and tools.

7. Therapeutic area: Different therapeutic areas (TA) have distinct factors and parameters that must be considered, such as HCP specialty learning preferences and behavior, current TA competitive landscape, and perhaps the need to congregate and enable TA-specific multi-disciplinary medical expert collaboration.

The calculus for where to employ which meeting mix, and which types of content, for the above variables requires good planning, and a degree of testing and tuning these variables can help to dial in success in meeting educational needs and program specifications. Given new levels of acceptance of virtual events and other post-pandemic cultural changes, the readiness to test new mixes and content is growing.

Benefits and advantages

Why should you embrace broadcasts and virtual events as part of your overall speaker bureau meeting mix? Here are some compelling reasons:

1. Broader reach for key speakers: Virtual events extend the reach of key opinion leaders and medical experts by expanding a program’s thought leadership influence and providing fresh perspectives without any geographic limitations.

2. Adherence to compliance guidelines:  Virtual broadcasts can be propagated without Transfer of Value (ToV) spend, providing the flexibility to educate HCPs without impacting attendance and/or spend caps. Additionally, given the inherent use of technology platforms in virtual settings, tracking event data and meta data such as attendance caps becomes easier .

3. Leveraging the advantages of interactive digital content and tools: Digital content and tools offer personalized learning experiences, enhancing engagement and knowledge retention. They also foster collaboration and real-time feedback, promoting active participation.

Conclusion

The rate of change shows no sign of slowing across the entire scope of HCP engagement. At IQVIA, we are witnessing adaptations and creative implementation of broadcasts, as well as a broader yet targeted use of virtual presentations and delivery of more interactive content, to maximize program effectiveness to achieve educational objectives. Customers are increasingly turning to broadcasts and virtual events as part of their meeting mix to optimize spend, expand reach, and address evolving HCP preferences.  

By considering variables like sales force size, speaker bureau size, product lifecycle, and budget, new and exciting content and delivery paradigms can create impactful broadcasts that resonate with HCP audiences.

Remember, the future of HCP engagement and education lies in adaptability and creativity. Embrace virtual events as a powerful tool in your marketing and sales arsenal and overall brand plan.