Measuring Marketing Channel Effectiveness
Realising ROI from Multichannel Marketing: new report reveals keys to success
Multichannel marketing (MCM) certainly isn’t new for pharma marketers – so why is internal commitment and ongoing investment so difficult to agree? A plethora of channels, target segments and technological challenges all add complexity and hamper decision-making clarity. This new report delves below the surface to uncover exactly how MCM can be measured effectively and how ROI goals can be achieved.
Measuring Marketing Channel Effectiveness: Improving the ROI of Multichannel Marketing makes compelling reading as it reveals insights and the successful strategies used by 13 pharmaceutical marketing experts. Based on in-depth interviews as well as secondary research, readers will find out what goes wrong and why – as well as the key factors and activities that determine success.
Reasons to Purchase
Top Takeaways and Key Questions:
- ROI monitoring and evaluation tools are a ‘must’: How can CRM, CMS and business intelligence investment be justified? What specific ROI measures and insights do they enable?
- Measuring MCM ROI is broader than previously believed: Which quantitative and qualitative metrics are the most powerful when measuring MCM effectiveness? When should they be used and how often?
- Focus remains on an individualised customer experience: How important is customer engagement when assessing the complete picture? Can MCM measures be customised sufficiently to enable enhanced monitoring and ROI?
- Some pharma companies are gaining ground: Who is using digital channels successfully; what do they do well? Which strategies are showing most promise? What is the single ‘make or break’ factor when embracing MCM?
- Traditional marketing skills are not enough: Digital marketing plays a crucial role in successful MCM strategies. What experience is needed? Can existing staff be trained or is ‘new blood’ a necessity?
Experts Interviewed for This Report
- Kamil Levent Arslan: Former Sales & Stakeholder Relations Director at Janssen, Pharmaceutical Companies of Johnson & Johnson
- Bill Cooney: CEO, MedPoint Digital Inc.
- John Gerow: Service Team Strategy Partner, Ashfield and Principle at JG Consulting Inc.
- Lanre Ibitoye: Director, Head of Digital Experience at Teva Specialty Pharma
- David Laws: Thought Leader and Customer Advocate, Global Partners
- Danilo Pagano: Customer Engagement & Multichannel Director, Merck Sharp & Dohme (Merck & Co.)
- Panos Papakonstantinou: Head Digital Commercial, Europe at Novartis
- Sarah Rickwood: Vice President, European Thought Leadership, IMS Health
- Tim Ringrose: CEO, M3 EU Ltd
- Pierre van Weperen: Diabetes Sales Director UK at Novo Nordisk
- Donna Wray: Vice President, Digital & Multichannel Marketing, TGaS Advisors
- Kyriakos Zannikos: Former Global Head of Multichannel Management, Abbott EPD (later acquired by Mylan)
- Anonymous: Head of Digital at a large pharma company
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- 1.Executive summary
- 2.Research objectives
- 3.Research methodology
- Experts interviewed
- 4.Responding to the digital revolution through MCM
- 5.New opportunities arising from MCM
- 5.1.Key insights
- 5.2.The value of MCM in pharma
- 5.3.Segmenting and targeting the broad customer base
- 5.4.Efficiency from content and channel customisation
- 6.Changing trends in healthcare and their effects on MCM
- 6.1.Key insights
- 6.2.Easier access to information with smart devices
- 6.3.Aligning with patient empowerment in patient-centred care
- 6.4.Real-time monitoring with the rise of cloud computing
- 7.Measuring MCM effectiveness
- 7.1.Key insights
- 7.2.Data collection and analysis
- 7.3.Analysis is key
- 7.4.Understanding the data landscape in MCM
- 7.5.Tracking the Customer Journey
- 7.6.Converting data into actionable insights
- 7.7.Metrics to measure customer engagement
- 8.Measuring ROI of multichannel marketing
- 8.1.Key insights
- 8.2.Establishing the importance of ROI measurement in MCM
- 8.3.The need to demonstrate the ROI of MCM
- 8.4.The measurement of ROI on MCM activities within pharma companies
- 9.MCM Challenges faced by pharma
- 9.1.Key insights
- 9.2.Skills gaps in pharma companies
- 9.3.Technology gaps in pharma companies
- 9.4.Reluctance to upgrade from the old marketing model
- 9.5.Identifying requirements for marketing content
- 9.6.Barriers to an effective MCM model
- 9.7.Challenges in measuring MCM performance
- 10.Critical success factors for effective pharma MCM
- 10.1.Key insights
- 10.2.Collecting the right information
- 10.3.Stages of MCM implementation
- 11.SWOT Analysis of measuring pharma MCM effectiveness
- 13.Appendix: Experts interviewed