Healthcare and Pharma are now facing more disruption than ever. Incorporating purpose at times of external crisis is vital not only for saving and maintaining brand purpose, but also for boosting internal team morale, and reconciling public trust.

External change is inevitable. All industries operate within an environment made up of micro and macro components, which range from suppliers, partners, customers, and competitors on the micro side, to political, economic, social, financial and legal on the macro side. When significant change occurs within any of these entities, companies are faced with new challenges with brand purpose.

When we look at building brands inside this model, there are three types of purpose we consider. The first is brand interaction characterized as “purpose ​with​ you”; in other words, these are brands that are beloved because they build a transparent, supportive relationship with their customers. The other two—“purpose ​for ​you” and “purpose ​to ​you”—promote more of a one-sided brand conversation that is at odds with a healthcare ecosystem that is becoming increasingly patient-centric.

Adopting this purposeful model will also require us to increase our responsibility as an industry. By moving forward in a more purposeful and responsible way, we have a chance to evolve alongside our customers as they navigate their own health. Otherwise, the gap between our brands and our customers will become so wide that we will lose the ability to effectively communicate with them. We are getting to that point now, and we have to turn this ship around.

The marketing and communications model which pharmaceutical companies need to follow is changing, and reports and surveys all point towards the need to embrace change and be more agile. Consumer empowerment needs to be prioritized, especially in an environment where consumer distrust of the industry is attracting more attention.

Trust in healthcare is falling across the board, from biotech to hospitals, with the pharmaceutical industry experiencing the highest drop. Edelman’s annual Trust Barometer survey reflects a 13-point drop from 51% to 38%, the most significant decrease the category has ever experienced.
Authenticity garners trust and consumer loyalty