Pay Per Click Advertising Costs and New Markets in Big Pharma

PPC or pay per click advertising provides more cost-effective promotional opportunities for businesses in various health and medical industries. Many analysts and third party groups claim that big pharmaceutical companies have been spending more on advertising and marketing than in product research and development for the past several years. But thanks to PPC and digital marketing, lots of these big companies along with their distributors and retailers are discovering new market segments and alternative ways to promote their newest products and latest offers to their target customers without spending too much time and money just to do this right.

For example, big pharmaceutical companies, their distributors and retailers got an average of 3.7% click thru rates last year for their PPC advertising campaigns in Google Adwords, both for Google’s search and display networks. They also spent an average of $2.67 per click for their ads in Google search last year and $0.63 for Google’s display network. These are mainly in North American territories like the USA and Canada. So this means they’re spending $267 for every 3 prospects in their Google search PPC ads and $63 for every 3 prospects in their Google display network PPC ads. These costs are much lower in other regions of the world, such as Asia, the EU, Australia and the Middle East among others.

Some of these players in the pharma industry claim that their digital promotional options today are less costly ways for them to reach their target audiences as opposed to traditional forms of advertising and marketing like television, radio, print and so on. After all, in the USA, the majority of American adults, both male and female, are expected to spend around $1000 or more per year for prescription and over-the-counter medical products. So this means by spending less than $100 for Google search PPC ads, they get the chance to convert a prospect into a paying customer that can generate $1000 revenues per year for them. Plus, they can get bigger margins through their PPC ads in the Google display network, which costs them less than $20 for the opportunity to convert a viewer into a paying customer who can produce $1000 of revenues per year for them.

Other less costly pay per click advertising options are available for small and large businesses alike in health and medical niches. These talkingAds limited platforms can also provide you with new ways to promote your relevant products and services across new significant markets, either as a merchant or as an affiliate. So here are some of the top alternative PPC options for you this 2019:

Alternative Pay Per Click Options for Your Business in Pharma, Health & Medical Niches This Year

  1. LinkedIn PPC — This platform is ideal for big pharmaceutical companies and large distributors in health and medical industries. If you’re looking for smaller distributors and retailers to partner up with for your newest products and latest offers, then this B2B (business to business) social network is where thousands of professionals hang out. These include marketing VPs, product acquisition managers and other executives of your target companies and B2B prospects. You’re bound to find the profiles of your ideal prospects in this community.

Running strategic PPC campaigns in this B2B network is likely to cost you more than what you’ll spend for PPC ads in the Google display network. But because this gives you the chance to connect with distributors and retailers that can produce bulk sales for your pharma business, what you’ll spend for each prospect you acquire and sign up for a mutually beneficial arrangement can bring back your overall PPC investment a thousandfold or so, especially since you can expect trial contracts to renew to longer term ones with bigger sales opportunities for you and your partners.

  1. Facebook PPC — This is ideal for retailers that want to promote their latest offers and newest products in their target health and medical niches across their ideal local audiences. This social media platform provides more affordable prices for their pay per click advertising options. Because Facebook is frequently used by a lot of end consumers, your retail outlet would be able to reach your target customers in your local areas, enabling you to inform them about the presence of your reputable establishment near their homes, workplaces, schools and communities.
  1. Mobile App PPC — Have you noticed the hundreds of apps that address the needs and problems of users in various health, medical and fitness subject areas? There are mobile apps that help users track their sleeping habits, physical activities and so on. Imagine advertising your newest prescription products and latest over-the-counter deals in relevant mobile apps. You’ll be able to display your captivating ads in front of users who might have immediate needs and concerns that can be resolved by your products, especially if you successfully pinpoint the ideal mobile apps to place your advertising content on. There are many advertising networks that offer these options, and you can access large numbers of mobile apps in a variety of niches and industries. This also means you’ll be able to pinpoint apps in vertical niches and industries that’ll still be able to generate viable results from your promotional efforts with much lower costs to boot.
  1. Private PPC Advertising — Lots of bloggers, Web forum administrators, online communities, software development groups, Youtubers and other social media influencers in relevant health, medical and fitness niches are likely to be receptive of private advertising offers. You can focus on both direct and vertical niches and industries. To do this, you need to create an ideal customer profile if you don’t have one yet, or if you do, then it’s about time to update the details of your target audience profile. You’ll be able to pinpoint the blogs, sites, Web forums social groups, software tools and online communities that are frequently used by your ideal prospects and target customers.

You can then explore possible pay per click advertising and organic content publishing opportunities in those places for your pharma-related products. You could even try to convince some of your prospects to forge mutually beneficial affiliate or co-marketing and traffic exchange deals with your business. Just don’t forget to focus on prospects with the right type of subscribers and regular viewers for your products and content.