Purpose – The presentation is devoted to benchmark strategic ideas, creative business processes and key activation methods of the pharmaceutical companies that operate on latin America to determine the best practices and possibilities of their use for the purpose of improving performance outcomes of companies participating in other parts of the world. Design/methodology/approach – More and more large and small brands are engaging in a marketing activity called experiential marketing: the idea that storytelling and experience marketing is key to attract and retain customers. Pharmaceutical marketing expert Juan Felipe Vega details the history of creative storytelling, the opportunities, and differences that separate good to great pharmaceutical companies for engagement. At its most fundamental level, storytelling represents a combination of content that forms a story in the mind of the receiver. By approaching storytelling in this manner, receivers also relate novel stories with ones already experienced. By continually offering valuable content, brands can generate engagement, build trust and credibility and achieve significant reach and impact, as well as mold engaged and loyal customers. Specifically, storytelling can be seen as an open conversation between a brand and its customers. Originality/value – The presentation includes practical recommendations focused on the improvement of brand differentiation and profitability of the local pharmaceutical company with a use of benchmarking tools such as creative storytelling, archetypes findings and creative deployments on OTC and institutional channels can be useful for the other local companies that try to compete with global pharmaceutical companies on the local markets.
Juan Felipe Vega