SCORR Releases 2020 Report on Health Science Company Marketing Trends
SCORR Marketing, a global health science marketing and communications firm, has released its eighth annual survey report, Marketing Trends in Health Science Services Companies. The report is free and features data that health science executives and marketers can use to understand how companies are approaching marketing in the midst of the COVID-19 pandemic. The report provides valuable insights that can guide strategic planning, budgeting, and tactics in the year ahead.
“Marketers had to be more agile than ever in 2020,” said Krystle Buntemeyer, president at SCORR. “COVID-19 drove down trade show attendance and spending, but it also meant that digital marketing became the channel of choice for many. This motivated many companies to establish or significantly overhaul their strategies for website management, social media, content development, webinars, and other areas.”
Already on the decline from past years, trade show spending plummeted in 2020. The use of digital marketing tactics rose with 38% of companies reporting that they reallocated trade show funds to webinars and/or podcasts in 2020.
A greater number of companies (76%) used analytics to make marketing decisions in 2020, and 78% of respondent companies now create an annual marketing plan. In those plans, advertising, content creation, webinars/podcasts, and website development saw increased spending because of the pandemic.
More than half of this year’s survey contributors were CEOs, presidents, vice presidents, or directors. These respondents were from sponsors, CROs, CDMOs, technology companies, and other pharmaceutical service providers in North America and Europe.
The complete 2020 survey report is available now at SCORR Marketing.
About SCORR Marketing
SCORR Marketing is the leading full-service marketing agency for the health science industry. With global capabilities, SCORR partners with companies involved in the research, development, and commercialization of biopharmaceutical and device products, as well as those delivering health care products and services. SCORR provides integrated programs to help clients achieve their goals and improve health and well-being worldwide. Learn more at scorrmarketing.com.