Optimizing Biopharma Digital Marketing: Insights to Improve Performance Measurement

STUDY OVERVIEW

Biopharmaceutical companies are investing more than ever in digital marketing to learn about their customers, build better relationships, leverage online media, and maximize revenue.

With greater investment, Digital Marketers are also experiencing growing pressure to deliver results.

Best Practices, LLC undertook benchmarking research to examine a host of key operational benchmarks required to achieve Digital Marketing performance excellence in the healthcare industry. In particular, this study provides critical insights into how savvy biopharma digital marketers are using new tools and tactics to measure performance and ROI for key channels.

KEY TOPICS

• Measuring Digital ROI
• Effective Performance Metrics
• Top Attribution Approaches Used for Measuring Value
• KPIs for HCP Engagement

• ROI for Digital Activities
• Effective Performance Metrics for Key Digital Channels
• Effective Performance Metrics for Assessing Social Media Impact
• Effective KPIs for Measuring the Progress of Digital HCP Engagement Programs and Demonstrating Their Value to Key Stakeholders
• Top Multichannel Marketing (MCM) Attribution Formulae Used to Accurately Determine ROI for Different Customer Groups (Physicians, Patients, KOLs and Payers)
• Valuable Information Streams and Sources Used by Digital Marketing Teams to Distill Insights and Enhance Customer Engagement

• Highest ROI levels for healthcare digital marketing come in SEO/Online Ads & Field Support: Though few companies consistently achieve high ROI across the board, almost half of companies can point to some level of “hard ROI” (i.e., either revenue growth or cost reduction) in SEO programs, online ads, field support, analytics & forecasting, and data assimilation.

Best Practices, LLC engaged 31 digital, multichannel marketing and other commercial leaders from 24 leading bio-pharmaceutical companies through a benchmarking survey instrument. Nearly 70% of participants serve at the level of director or above.

If you purchase Best Practice Database document(s), you will have 30 days from the date of purchase to apply some or all of the cost of the document(s) toward the cost of a Full Access Individual, Pharma, Group or University Membership. Write us at DatabaseTeam@bestpracticesllc.com or call David Guinn at 919-767-9179 if you have any questions.