A recent survey showed that during the period NP/PA Engage handled NP/PA promotion for a big pharma, the drug usage by this population increased by almost 20%.That 20% increase in sales is easily
translated into dollar values. Methods to track ROI of online campaigns include measuring script lift through surveys or purchasing data on the prescriptions written by targeted HCPs before and after the campaign.
ROI and Budgets
In the late 1990s and early 2000s, budgets in many pharma companies were based on a small increase or decline from the previous year’s budget, but there was little focus on ROI and scientific ways to allocate portions of the budget. Of course, this is no longer the case. Though many realized all along that online marketing is typically cheaper and more effective to reach HCPs and patients, pharma execs began requiring the actual data to make more accurate and scientifically based budget decisions.
Advice for Pharma Execs
In today’s data driven world, who wants to allocate pharma marketing budget without a solid way to track ROI and confidence that a campaign will yield positive results? Stop pouring more money into old media channels. With a way to measure goals and success, it’s wise to take chances on promising new online channels.
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