|8th April 2016
In the current market landscape, opportunities are arising to engage with healthcare professionals (HCPs) and patients through a multitude of digital channels. In the last few years, pharmaceutical companies have been increasingly active in carrying out digital marketing activities despite a slow uptake compared to other industries. Even with easy access to large quantities of data, measurement is still a relatively grey area – either marketing efforts are not being measured, or the data is not understood and utilised.
In this article, Associate Consultant Jiayi Chen explains why a measurement plan needs to be in place, and the key steps and common issues in developing a measurement framework for assessing the success of digital marketing efforts.
A measurement framework is used to align top-line business objectives at a strategic level with measurable metrics and data at an operational level, with the objective of evaluating the results of marketing efforts. Setting up an effective measurement framework is used to understand your marketing performance, shape your digital strategy, and help plan your tactical campaigns to deliver better outcomes.
As the first step in creating a measurement plan, you should understand your overall business objectives and define the specific objectives of your marketing activities. Your marketing objectives should support and drive the successful achievement of the business objectives.
While it’s good to be ambitious, marketing objectives need to be realistic, specific and measurable. For example, “increase the number of drug samples ordered by 20% in 6 months”.
Here are some common objectives in pharma marketing:
Based on business and marketing objectives, the next step is to identify critical success factors associated with each of the objectives. Critical success factors are the essential elements that ensure marketing objectives are achieved. For example, improvement in customer satisfaction, and reduction in service cost.
While critical success factors are limited to key areas for success, KPIs are more specific metrics that are used to measure performance in each of the key areas, such as impressions, customer satisfaction rate, number of downloads, page views, and time spent on site. It’s critical for the development of meaningful KPIs, rather than measuring for measurement’s sake.
When choosing metrics, always think about the purpose each metric serves and how it helps you to make better decisions. When the objective is to measure engagement with HCPs, focus should be placed on metrics that reflect the interaction such as the number of returning visitors, or the number of registrations and content downloads rather than “reach” metrics such as impressions and visits.
|16th August 2019
Precision medicine represents a new paradigm in healthcare.This new approach to treating and preventing disease views the patient holistically, analysing their genes, environment and lifestyle, and using this information to make a more accurate treatment decision. Here we discuss the barriers, opportunities and potential outcomes of the precision medicine era in healthcare.
|26th July 2019
The UK National Health Service is developing one standardised approach to embedding precision medicine across the whole of England. Blue Latitude Health speaks to Dr Tom Fowler, Deputy Chief Scientist and Director of Public Health at Genomics England, to find out how the NHS is achieving this goal.
|16th July 2019
The number of mental health research programmes in larger drug firms has shrunk by 70% in the past decade. Blue Latitude Health Senior Associate Consultant Sana Rahim explores this drop in investment and explains why developing a market-orientated model is vital for making progress.