Paul Moreau, Co-founder and the CEO, Redpharma
With rapidly evolving technologies, varying consumer behavior, and ever-changing regulatory constraints, marketing pans out to be a complicated and arduous task for most businesses. This is especially true for players in the pharmaceutical industry that revolves around innovative techniques, patented products, generic medications, and branded medical devices—all of which directly or indirectly interact with the human body. As such, it becomes one of the most scrutinized fields, with regulatory bodies such as European Medicines Agency (EMA) having strict superintendence to avoid misleading and aggressive advertisements and communication, significantly narrowing down marketing opportunities within the industry.
To this end, the Co-founder and CEO of Redpharma, Paul Moreau, states, “This demands a significant shift in the way the pharma industry perceives marketing and interacts with consumers, obligating organizations to redefine their conventional marketing strategies.”At times like these, organizations need robust technology solutions to help enhance their marketing strategies by streamlining communications with patients, doctors, and even pharmacies.
Native to the pharma industry, this Brussels-based service provider acts as a privileged partner for pharmacists and laboratories in and outside the pharmacy. The company leverages its industry expertise and long-standing experience to provide clients with effective marketing tools capable of addressing the current marketing challenges associated with the European markets by complying with all necessary regulations. “Our comprehensive, customer-centric solutions help pharma companies enhance their marketing operations by facilitating communication with patients, doctors, and other medical experts,” says Moreau.
Creating Brand Awareness: The Prime Agenda
As a one-stop-shop for marketing, Redpharma adopts a powerful ‘three-pronged communication’ approach to help clients create brand awareness, communicate with patients to improve sales, and ensure business stability. A typical client engagement begins with Redpharma understanding the client’s requirements. The company then goes on to create brand awareness—which plays a vital role in marketing a new product—by opening an easy and streamlined communication channel between the brand and professionals in the pharma and medical space. “Through this, we aim at educating our network of pharmacies, doctors, and other medical experts about the product,” says Moreau. The company conducts several events, webinars, symposiums, e-learning, and more to scientifically explain the value proposition of the new product, its operations, and benefits to the professionals.
Boosting the In-Store Communication
Once the product is familiar to the professional communities, Redpharma conducts product activation and promotion activities within the pharmacies. Clients can attract new customers and increase their in-store sales by using the company’s product activation and promotion portfolio, which includes services such as couponing, cashback, loyalty program, and sampling.
Our comprehensive, customer-centric solutions help pharma companies enhance their marketing operations by facilitating communication with patients, doctors, and other medical experts
“As a specialist in pharmacy discount vouchers, we leverage more than 10 year of experience to ensure success of our clients’ promotional actions at the point of sale,” adds Moreau. By using these coupons, consumers can avail discounts directly from any pharmacies across Belgium. Further, Redpharma provides reimbursement offers to consumers, which on the one hand, improves in-store sales, and on the other, boosts the communication outside pharmacies. Being able to provide loyalty rewards to patients, the company helps retain consumers and facilitate personalized communication with them.
In addition, Redpharma always ensures enhanced visibility of its clients’ products and promotional material within the pharmacies, which have a significant impact in boosting sales. To do this, the company deploys a team of experts who specialize in the placement of equipment or products within the pharmacy. With its merchandising services, Redpharma ensures that displays are appropriately placed, and widows are holding the right promotional materials to help push the products and create brand awareness within the pharmacies. The company offers category management services to optimize shelf space in the pharmacies by ensuring that products are placed in the right categories at the right space according to the market trends. This helps provide better visibility and share the right brand information to patients who spend minimal time in pharmacies.
Redpharma offers clients with advanced digital solutions to effectively reach their target consumers and support them right up to the point of sale. These robust and flexible solutions are capable of delivering the right message to patients when needed. If a product needs a sudden promotion, the company can quickly tailor its solution stack to facilitate strong communication with consumers over the counter and thereby boost sales. Moreau informs, “We are the leading provider of digital signage solutions to the pharma industry and have the biggest network of screens inside the pharmacy in Belgium to help seamlessly communicate to patients over the counter.”In addition, Redpharma ensures maximum visibility of its clients’ products outside the pharmacy via its network of showcases that plays attractive and innovative clips, allowing them to stand ahead of the competition and attract new customers.
Offering the Extra Edge with Data Analytics
What makes Redpharma unique is its capability to offer clients with valuable data in real-time, which is considered a prerequisite for organizations in today’s highly dynamic world due to the pandemic. “Being able to combine data from all our activities, we have deep understanding about the market that helps us serve as an expert in providing clients with a full-spectrum of data and analytics. This includes market essential, territory management, stock, POS ROI, marketing investment, and product placement impact, to name a few,” says Moreau. The company integrates this data into its secure and anonymized data analytics platform, Reddata that helps clients understand and interpret the rapidly changing pharmaceutical industry, allowing them to target their campaigns and develop business with confidence.
"We are the leading provider of digital signage solutions to the pharma industry and have the biggest network of screens inside the pharmacy in Belgium to help seamlessly communicate to patients over the counter"
Designed as a web-based platform, all authorized users within an organization can have access to this data repository via Reddata’s scalable and easy to interpret dashboard. With an aim to ensure quick access to data needed for each department, Redpharma customizes its dashboard to meet their specific needs. It is designed to offer a holistic view of the organization's market share, turnover, and more for the management team. The sales team can have access to data that allows them to measure the evolution of sales within a specific time. Subsequently, the marketing department can analyze data related to the launch or promotion of a product. These advanced monitoring and data analytics capabilities allow Redpharma to help its clients continuously redefine their strategies to align well with market trends and stay ahead of the pack.
From a Humble Startup to a Leading Innovator
With such a robust suite of solutions backed by a bespoke approach, Redpharma serves as the most sought-after partner for most OTC companies across Belgium and other European countries. Founded by two enthusiastic entrepreneurs to bring in innovation in the pharma space, the company has now evolved into a regional leader, assisting several clients to market their products while ensuring regulatory compliance. In fact, Redpharma spearheads innovation excellence in the pharma marketing landscape, especially in the European markets, to further streamline the marketing activities. Such significant growth is a testimony to its founders’ and teams’ dedication to come up with a unique solution.
As an aggressive, independent startup, Redpharma is constantly trying to enhance its solution suite's capabilities, aiming to serve its existing customers better and attract new clients. "We are always on a drive to bring in innovation into the industry to provide our clients with the right solution to meet their unique needs and extend our footprints into other markets," concludes Moreau.