{"id":81309,"date":"2023-05-26T00:00:00","date_gmt":"2023-05-25T22:00:00","guid":{"rendered":"https:\/\/llyc.global\/2023\/05\/26\/la-demanda-de-otcs-crece-estan-las-marcas-preparadas-para-capitalizar-el-auge-del-autocuidado-responsable\/"},"modified":"2023-05-26T00:00:00","modified_gmt":"2023-05-25T22:00:00","slug":"la-demanda-de-otcs-crece-estan-las-marcas-preparadas-para-capitalizar-el-auge-del-autocuidado-responsable","status":"publish","type":"post","link":"https:\/\/llyc.global\/en\/trends\/la-demanda-de-otcs-crece-estan-las-marcas-preparadas-para-capitalizar-el-auge-del-autocuidado-responsable\/","title":{"rendered":"The demand for OTCs is on the rise: Are brands ready to capitalize on self-care trends?"},"content":{"rendered":"

Lucia is a 40-year-old woman that goes to bed at 10pm. But before she goes to sleep, she activates her sleeping app to monitor her sleep. Pablo is a Youtuber that just turned 18 and recently posted a video on his social media channels discussing the importance of mental health. Marta takes advantage of her time off work to sign up for a Mindfulness class provided by the bank she works for. Meanwhile, Javier takes vitamin C & D and has breakfast reading the daily paper. These individuals all have something in common: They are all partaking in the fast-growing <\/span>self-care trend.<\/strong><\/p>\n

The World Health Organization (WHO) has encouraged this trend since 1983, defining it as “the ability of individuals, families and communities to promote health, and cope with illness and disability with or without the support of a healthcare provider.” Self-care has become increasingly relevant in the wake of the pandemic, given the growing concern for wellness and the promotion of healthy habits.<\/span><\/p>\n

Highlighting the value and benefits of OTCs<\/strong><\/h2>\n

This increased focus on wellness has led to an increased demand for health-related products and services, especially for over-the-counter (OTC) products and medications. The OTC market is expected to grow globally at <\/span>a rate of 4%<\/strong> by 2023, driven by anti-flu, analgesics, expectorants, and vitamins.<\/span><\/p>\n

This is an important opportunity for brands seeking to connect with savvy consumers wanting to take care of their health. This requires understanding new consumer profiles within the context of self-care, an increased demand for information about over-the-counter products and the emergence of new online sales channels. <\/span>The question is: Are brands and their communication teams taking advantage of this paradigm shift, and, more importantly, how can they capitalize on it?<\/strong><\/p>\n

Consumer insights<\/b><\/h2>\n

According to a recent Google survey, 40% of consumers search for OTC product information online before making a purchase in a physical or online store, and 13% use social media as an important source to obtain product information. The survey also revealed that consumers seek specific information on product usage and dosage (40%), recommendations and opinions from other patients (39%), information on side effects and risks (38%), comparisons with other similar products (25%) and manufacturer details (19%). Furthermore, the main factors driving the choice of distribution channels include trust, quality, convenience, pharmacist recommendations, prices and clinical studies.<\/span><\/p>\n

On one hand, this data demonstrates the importance of <\/span>consumer opinions and social networks<\/strong> as a key source of information for potential consumers. It also shows how the <\/span>growing concern about the safety and efficacy<\/strong> of OTC products is considered a significant factor in the decision-making process, which emphasizes why communication strategies need to prioritize <\/span>transparency<\/strong> about the associated side effects and risks in order to build <\/span>trust <\/b>among the public.<\/span><\/p>\n

Digital marketing solutions to capitalize on the self-care boom<\/b><\/h2>\n

In order to capitalize on this trend and <\/span>create effective differentiation strategies in a competitive market, we believe in adopting digital marketing strategies<\/strong> that will enable an authentic and meaningful connection with consumers <\/span>by means of 3 approaches<\/strong> that provide the information they need, when they need it, through the channels in which they are present.<\/span><\/p>\n

Anticipation<\/b><\/h2>\n

At LLYC, we use our own artificial intelligence tools to draw insights from hundreds of thousands of consumer interactions with brands. This provides information on the audience’s concerns so we can establish robust personalization strategies and anticipate social conversations and future trends. This is an essential first step, <\/span>given that 60% of consumers claim they will return as a customer if they have a personalized shopping experience<\/strong>.<\/strong> In other words, brands need to know about their interests and adapt to their needs.<\/span><\/p>\n

Brand Awareness<\/b><\/h2>\n

Secondly, it is essential to build a strong brand through differentiation and storytelling since consumers receive thousands of daily inputs to gain their attention. To this end, <\/span>Brand Awareness strategies are created online since they are one of the fastest growing and most competitive search engines for OTC products<\/strong>. I<\/strong>n this case, successful brands are those that have built a solid image in the face of limitations with paid advertisements. 60% of OTC consumers claim they only buy well-known brands, even though they recognize only 43% will go to another pharmacy to look for them, and 51% will simply choose another brand if they are not available at that exact moment.<\/span><\/p>\n

Undoubtedly, this is a reflection of how consumers prioritize convenience, immediacy, and pricing. They also base their selection on whether companies resolve their requests, especially in a sector where convenience and price outweigh <\/span>brand loyalty<\/span><\/i>. Therefore, while the pricing strategy will make it or break it for most consumers; the brand that authentically conveys transparency, sustainability, and commitment to the health and general well-being of consumers will ultimately win the sale if the cost between two brands is similar.<\/span><\/p>\n

Omnichannel Experience<\/b><\/h2>\n

Finally, it is crucial to connect with users through online and offline channels, adapting to the characteristics of each customer segment in order to become the same brand across multiple channels. This implies that <\/span>omnichannel<\/strong> or connected shopping experiences have become a <\/span>must-have<\/strong> since this new generation of consumers will not make a purchase without first conducting research on different platforms such as Instagram, TikTok, Facebook or Twitter that offer authentic and trustworthy suggestions from influencers, as well as shopping options that facilitate the purchase.<\/span><\/p>\n

An unbeatable combination: Teams, strategies, creativity, and technology<\/b><\/h2>\n

In short, digital marketing solutions are key to connect and attract customers like Lucia, Pablo, Marta or Javier in the midst of a sector that is experiencing an evolving and strong growth of online sales. Artificial intelligence, personalization, and performance measurements will help brands succeed in a highly competitive market. But to do so, they must also have a multidisciplinary team made up of data engineers specialized in information analysis; media sales professionals and SEO strategies to improve brand positioning. Of course, they also depend on Marketing Automation tools and specialists to connect with consumers at all points of the purchasing process.\u00a0<\/span><\/p>\n

Using this unique combination of talent, omnichannel strategy and technology, brands have a unique opportunity to transform into a more people-centered approach and must take advantage of this trend so we can all take better care of ourselves. It\u2019s a win-win outcome.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Lucia is a 40-year-old woman that goes to bed at 10pm. But before she goes to sleep, she activates her sleeping app to monitor her sleep. Pablo is a Youtuber that just turned 18 and recently posted a video on his social media channels discussing the importance of mental health. Marta takes advantage of her […]<\/p>\n","protected":false},"author":9,"featured_media":80380,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[318],"class_list":["post-81309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trends"],"acf":[],"yoast_head":"\nThe demand for OTCs is on the rise: Are brands ready to capitalize on self-care trends? - LLYC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/llyc.global\/en\/trends\/la-demanda-de-otcs-crece-estan-las-marcas-preparadas-para-capitalizar-el-auge-del-autocuidado-responsable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The demand for OTCs is on the rise: Are brands ready to capitalize on self-care trends?\" \/>\n<meta property=\"og:description\" content=\"Lucia is a 40-year-old woman that goes to bed at 10pm. 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