Industry
Healthcare & Life Sciences
Region
US
Solution
Promo Effectiveness Measurement Framework
Context
Crafting marketing strategies for pharmaceutical brands is complicated due to stringent regulations and industry competition. Over the past two decades, pharma marketing expenses have surged by nearly 70%, with a significant portion allocated to Healthcare Professionals (HCPs). The pandemic and digital proliferation transformed HCP interactions, diminishing traditional methods like field force visits. Efficient digital platforms replaced them, posing a challenge for pharma marketers: how to measure campaign success in this evolving digital landscape.
Problem statement
Our client, a renowned global pharmaceutical company with a diversified portfolio of products, was looking for an efficient and accurate framework to measure the effectiveness of a website registration-based promotional campaign targeting HCPs. The client wanted to know whether it was positively influencing HCPs to drive additional sales. To measure the campaign’s effectiveness, MathCo designed an intelligent framework that conducts a ‘lift analysis’ on sales data to quantify the increase or decrease in sales.
Impact
- Conduct accurate campaign performance measurement
- Measure lift by integrating complex parameters like NBRx and TRx
- Translate the sales lift to ROI without overlooking critical parameters
- Acquire a standardized capability to measure campaign effectiveness
- Obtain granular insights on the number of targeted HCPs and their behavior changes pre- and post-campaign