Global Social Media Marketing Market for Healthcare: Overview
In the past half a decade, social media has emerged as an efficient mode for individuals as well as organizations to connect and interact with targeted audiences in a personalized manner. The portals such as Facebook, Twitter, and LinkedIn have paved a way to reach out to the masses and this enables marketing strategies that are fast proving their worth with radically beneficial return of investment. On the other hand, the healthcare industry is touching new peaks as a result of increased income of urban populations and collectively they make a substantial targeted audiences for the social media marketing managers. According to the findings of this business intelligence study, the market for social media marketing in the health care sector will flourishing at a robust CAGR during the forecast period of 2015 to 2023.
This market research report has been compiled with an aspiration to serve as a business decision-making tool for targeted audiences such as healthcare organizations, pharmaceutical companies, healthcare professionals, insurance providers, research and development institutes, government agencies, and venture capitalists. The report contains data-based evaluations and estimations on how the demand has expanded over the years and what are its future prospects, breaking the market down into smaller segments as well as gauging the potential of demand from different countries and regions. The report also contains a dedicated chapter on the competitive landscape, wherein several prominent companies of this market have been profiled for their products, geographical reach, and recent strategic decisions.
Global Social Media Marketing Market for Healthcare: Trends and Opportunities
Some of the key social media marketing strategies that are being adopted by the healthcare players are: determining the right portals to engage maximum consumer base. With definitive goals and target audiences, the marketing managers are able to effectively listen and monitor their progressions. Over time, this enlarges their online presence, generating traffic that ultimately triggers conversations that lead to business opportunities, or at least increased awareness. Companies are now able to develop a brand with social media, integrating online and offline campaigns and gain customer trust. With a strong consumer community over the social media, healthcare organizations are also able to communicate their policies and updates.
There are a number of benefits of social media marketing that the healthcare players can use, such as expanding their business exposure and lead generation, consumer and public relation management, treatment and RX decisions, enhancing health awareness, and recruiting for clinical trials.
Global Social Media Marketing Market for Healthcare: Regional Analysis
Owing to strong adoption rate of new technologies and pathways, the developed countries of the U.S., Canada, France, the U.K., Germany, and Italy make North America and Europe as the two regions that are showing a greater potential of demand for the players of this market. That being said, emerging economies of China and India house more than one third of the total world’s population and social media is making a market in these nations too. The companies providing for these marketing tools are well advised to focus on these developing countries to find substantial demands.
Global Social Media Marketing Market for Healthcare: Competitive Landscape
Abbott Labs, Novartis, Bayer Pharmaceuticals, Astra Zeneca, Bristol Myers Squibb, Johnson and Johnson, and Roche are some of the key healthcare companies that have started using social media for their brand awareness.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.