Non-members: Click here to review a complimentary excerpt from “Growing Biopharma Digital Marketing Impact: Optimizing Service Alignment and Managing Vendors”
STUDY OVERVIEW
As the use of digital technologies evolves, biopharmaceutical companies must constantly adapt their digital marketing approaches to effectively reach a diverse set of customers. Thus, organizations must use their internal structure and supporting functions to optimize the delivery of key digital marketing programs. In addition, vendors are a fact of life for digital marketing efforts and successful organizations know how to effectively manage those relationships.
Best Practices, LLC conducted this study to examine how biopharma companies are structuring their digital marketing groups and aligning digital activities across the organization. The study also reviews how organizations are using and managing vendors for digital marketing activities.
KEY TOPICS
I. Service Delivery Excellence:
- Structuring the Digital Function
- Responsibility for Core Tasks
II. Outsourcing & Vendor Management:
- Outsourcing Levels for Key Channels & Activities
- Vendor Usage Trends
KEY METRICS
- Structure of Digital Marketing Function within Participating Companies
- Group Responsibility for Core Digital Activities
- Extent of Outsourcing Digital Activities
- Number of Vendors and Agencies Digital Marketing Groups Partner With Across All Supported Brands
- Vendors Used Per Product Supported
- Revenue Supported Per Vendor (USD '000)
- Average Number of FTEs Employed Per Vendor Used
- Percentage of Vendors and Agencies Hired by Digital Marketing, Marketing, and Brand Teams Out Of the Total Number of Vendors and Agencies Digital Marketing Groups Collaborate With Regularly
SAMPLE KEY FINDINGS
- DM teams hire approximately 46% of total vendors used; brands hire 36%: DM groups must be able to align goals and work successfully with a web of different agencies and vendors hired by several different stakeholder groups. An average of 46% of all digital vendors used by DM teams are hired and managed by DM teams directly. Brand teams hire 36% of digital vendors, while the larger marketing organization contracts 18%.
METHODOLOGY
31 digital, multichannel marketing and other commercial leaders from 24 leading healthcare companies were engaged for this research through a benchmarking survey instrument. Nearly 70% of participants serve at the level of director or above.