In most countries, the rules on advertising drugs and other medical products and services are among the strictest in existence, second only to regulations on cigarette and tobacco advertising. There are many good reasons for this; most countries want decisions on what medicines are prescribed to be in the hands of healthcare professionals. However, these types of regulations can pose a challenge for new startups in the biotech field who want to get their messages out to patients. Thankfully though, the internet has made things significantly more accessible, particularly for small startup companies.
Biotech Company Advertising
Biotech companies such as Antaros Medical often see little point in advertising to huge audiences via traditional mediums such as print or TV commercials. Instead, they can use online advertising platforms like Google, Facebook, and LinkedIn to directly target the decision-makers that they need to reach to help their business grow.
These platforms work by allowing companies to select a very narrow audience to whom their ads are shown. For example, a biomedical startup could decide to only offer their adverts to senior directors and doctors at hospitals in particular states where their product or service is already authorized for use. This means that companies can avoid wasting money on showing their ads to people who do not have the power to buy their products. For startup medical companies who may be operating with minimal budgets, this approach can offer a great return on investment for those that are nervous about spending vast amounts of money.
The Future of Advertising
The technology that advertising techniques such as these rely on has been controversial at times, and many companies in the space are taking steps to improve things and keep the public onside. Anyone watching the online advertising space over the next few years is likely to see rapid and significant changes in the way that ads are bought and targeted at customers. This should make the whole space more competitive and open to newcomers who want to place their first ads.