May 6 2021 Clare McKinley Blog Health & Pharma Strategy The Time is Right for Challenger Brands in Healthcare So much has changed for healthcare marketers in the past 14 months. The COVID-19 pandemic has both transformed and put a spotlight on healthcare and pharma, and the marketing landscape can feel almost unrecognizable to what it was just a few years ago. As unsettling as this upheaval can be, change brings the opportunity to reevaluate—and improve upon—the status quo. Here are three reasons why the time is right for challenger brands in healthcare: Economic Churn In times of economic churn, challenger brands present opportunities for choice and change. With the status quo in question, there’s a big opportunity for brands to represent something new and different to consumers. Active Conversations Health, wellness, and choice have been huge topics of conversation ever since the beginning of the pandemic. There’s an opportunity for brands to participate in that dialogue, and educate engaged consumers about their options. Consumer Ownership Private-pay is at an all-time high, and health and wellness are top of mind for everyone. These factors have contributed to consumers being more engaged than ever in their healthcare decision-making process. While the past 14 months have been difficult for everyone (to say the very least), it’s clear that the upheaval brought by COVID-19 has created opportunities for healthcare marketers. Challenger brands are particularly poised to ride this wave of change, breaking the “cycle of sameness” within healthcare marketing and reshaping the status quo. For more insight into the opportunities available to healthcare marketers, check out Vertical Viewpoint: Conquering Challenges as a Healthcare Brand. Plus, check out our Healthcare in 2021 infographic for more insights about the consumer and market trends driving change this year.