Pharmaceutical Marketing Strategy: Key ROI Benchmarks to Drive Brand Success (PH156)

Key ROI Benchmarks to Drive Brand Success
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Published 2011
70 Pages
300+ Metrics
30+ Charts and Diagrams

Boost marketing impact to drive brand strategy

Imagine the impact of a successfully conceived and executed marketing strategy: heightened brand visibility and reputation as well as increased market share and revenue. Effective brand teams draw a direct link between investment and results — and they prioritize elements in their marketing mixes based on the impact of each activity, channel or promotional tool.

Discover how 28 top pharmaceutical and biotech teams have built their products’ marketing plans, then explore the brand lift derived from each investment decision:

Get the most out of your marketing money

See which activities generate the most revenue as you examine investments in nine key marketing activities. Follow teams as they prioritize certain channels over others — including physician and patient marketing, web-based and mobile tools, and other critical platforms.

Track ROI and brand lift to ensure effective campaigns

Explore the returns generated by those nine key marketing activities via six brand lift measures — as well as innovative techniques for building an optimal balance of hard and soft ROI metrics. Along the way, learn new strategies for overcoming common problems in proving marketing impact.

Uncover marketing spending trends

Peruse 15 brand profiles to see, on a drug-by-drug basis, how teams prioritize their marketing investments — and either benefit or suffer as a direct result. Isolate the impact of critical promotional activities, and learn how teams would allocate a 10% budget increase.

Pharma Branding Metrics

Chapter 1: Marketing Budget Allocation

Chapter Benefits

  • Prioritize different elements of the marketing mix.
  • Track other teams’ allocations to specific activities.
  • Understand how online/mobile media fit into brand plans.

Chapter metrics

15 charts focused on the following topics. Charts in this chapter detail information for the US and for select emerging markets:

Marketing Budget Allocation

  • Investment data for nine different activities in the marketing mix:
    • Mass media direct-to-consumer advertising
    • Disease education & awareness campaigns
    • Patient adherence & compliance programs
    • Samples
    • Provider support programs
    • Journal ads
    • Promotional speaker programs
    • Accredited CME programs
    • Non-accredited medical education
  • Average percentage of budget dedicated to those marketing activities
  • Activities targeted for increased spending
  • Percentage of marketing budget dedicated to web-based activities

Chapter 2: Measuring ROI and Brand Lift

Chapter Benefits

  • Link marketing activities (from Chapter 1) to real-world impact on sales.
  • Explore hard-to-find ROI data for drug brands.
  • Use ROI measures to eliminate guesswork in resource allocation.

Chapter metrics

  • Percentage of brand revenue driven by each specific marketing activity (see list from Chapter 1)
  • Prominence of different brand lift/ROI measures among surveyed teams

Chapter 3: Marketing Group Spending Profiles

Track brand-by-brand ROI and investment across 15 products. Each profile contains the following components:

  • Benchmark marketing spending – and quickly find a situation that applies to your group.
  • Explore 15 profiles representing different regions worldwide.

Each profile contains the following components:

    • Background Information
      • Marketing group’s region
      • Annual global sales of the product that the group manages
    • Marketing Budget Allocation
      • Original budget allocation
      • Budget allocation if additional 10% were granted
      • Percentage of money dedicated to web-based activities
      • Percentage dedicated to web-based activities if additional 10% were granted
      • Budget allocation by activity:
        • Mass media direct-to-consumer advertising (DTC advertising)
        • Disease education & awareness campaigns (disease education)
        • Patient adherence & compliance programs (patient adherence)
        • Samples
        • Provider support programs (provider support)
        • Journal ads
        • Promotional speaker programs (promotional speaking)
        • Accredited CME programs (accredited CME)
        • Non-accredited medical education (non-accredited medical education)
    • Revenue Contribution by Activity
      • How much money would be lost if a single activity was discontinued but all other activities continued as normal
      • How much the activity added to the product’s sales
      • Revenue contributions were collected for each of the activities listed in the marketing budget allocation profile section
    • ROI Measurements - If ROI measured, teams provided information on the following six measures:
      • Increase in new prescription rates
      • Increase in prescription renewals
      • Physician awareness of product
      • Physician opinion of product
      • Consumer awareness of product
      • Consumer opinion of product

Pharmaceutical Marketing Budget Sample

The following excerpt is taken from Chapter 1, “Marketing Budget Allocation.” The full chapter examines marketing activities’ benefits and challenges, as well as surveyed companies’ interest in increasing spending on these activities going forward. Another topic explored in this chapter is web-based activities, including product websites, email-based campaigns, social media usage and online advertising.

Plans for Future Funding

Cutting Edge Information’s survey asked marketing executives how they would allocate a 10% budget increase if one were granted; their responses varied. Figure 1.7 [which appears in the brochure downloadable from this website] shows that provider support receives the largest amount of the budget increase on average, with 23% of the increase going to provider support activities. This category — which includes activities directed toward assisting physicians in prescribing a medication and in getting the prescription filled — contributes directly to the bottom line. The paperwork associated with reimbursement for these products can be a burden, and many patients cannot afford the full cost of the product. Provider support activities help the physician ensure that these issues do not hinder patients’ access to the product. If writing a prescription for a product means that the patient and the physician’s office will be drawn into time-consuming paperwork, the doctor may select another product instead.

Disease education and patient adherence would receive a large amount of the budget increase, at 13% each. These activities received a relatively low level of initial funding, and the increase would allow companies to fund patient-directed activities outside of mass-market advertising.

Figure 1.8 [which appears in the brochure downloadable from this website] shows that these three activities receive the majority of budget increase in the United States as well. Once again, provider support activities receive the largest amount of the budget increase, with 35% of the total increase directed toward these activities. Disease education and patient adherence total 33% of the budget increase. Other activities would receive a relatively low amount of funding. Notably, no company surveyed reports that it would put any additional money to mass-market advertising in the United States, despite mass-market advertising consuming the largest amount of the current budget. Mass-market activity is expensive, and companies do not see a high return for additional money aimed at these activities.

Pharmaceutical Marketing Budget Sample

 

The following excerpt is taken from Chapter 1, “Marketing Budget Allocation.” The full chapter examines marketing activities’ benefits and challenges, as well as surveyed companies’ interest in increasing spending on these activities going forward. Another topic explored in this chapter is web-based activities, including product websites, email-based campaigns, social media usage and online advertising.

Plans for Future Funding

Cutting Edge Information’s survey asked marketing executives how they would allocate a 10% budget increase if one were granted; their responses varied. Figure 1.7 [which appears in the brochure downloadable from this website] shows that provider support receives the largest amount of the budget increase on average, with 23% of the increase going to provider support activities. This category — which includes activities directed toward assisting physicians in prescribing a medication and in getting the prescription filled — contributes directly to the bottom line. The paperwork associated with reimbursement for these products can be a burden, and many patients cannot afford the full cost of the product. Provider support activities help the physician ensure that these issues do not hinder patients’ access to the product. If writing a prescription for a product means that the patient and the physician’s office will be drawn into time-consuming paperwork, the doctor may select another product instead.

Disease education and patient adherence would receive a large amount of the budget increase, at 13% each. These activities received a relatively low level of initial funding, and the increase would allow companies to fund patient-directed activities outside of mass-market advertising.

Figure 1.8 [which appears in the brochure downloadable from this website] shows that these three activities receive the majority of budget increase in the United States as well. Once again, provider support activities receive the largest amount of the budget increase, with 35% of the total increase directed toward these activities. Disease education and patient adherence total 33% of the budget increase. Other activities would receive a relatively low amount of funding. Notably, no company surveyed reports that it would put any additional money to mass-market advertising in the United States, despite mass-market advertising consuming the largest amount of the current budget. Mass-market activity is expensive, and companies do not see a high return for additional money aimed at these activities.