Closed-loop Marketing AnalyticsThe 62.5% Question<br />
Analytics Defined:<br />Analytics leverage data in a particular functional process (or application) to enable context-spec...
Closed-loop Marketing Analytics Defined: Day-to-day Impact<br />Holistic Analytics = <br />Describe what is going on?<br /...
Closed-loop Marketing Defined:<br />Driving Evidence-based Decision-making<br />Closed-loop Marketing (CLM) refers to a bu...
Analytics: The “Holy Grail” of Closed-loop Marketing<br />Quantifiably proving the financial / prescribing impact of Close...
Traditional Closed-loop Marketing Metrics:<br />Subjective / No Quantifiable Impact <br /><ul><li>More effective customer ...
Reduce cost and add flexibility over paper based detail aids and reprints .
Lower administrative cost and better data with automated call capture.
Minimize Compliance Risk by taking control of your content.
Increase in Physician commitment to the brand</li></li></ul><li>Traditional Closed-loop Marketing Metrics:<br />Subjective...
Physician Preference for tablet detailing
Ease of call reporting
Enabled longer calls
Impact versus a paper-based detail
Easier for Rep to handle physician objections
Usage by reps</li></li></ul><li>Why 62.5%?<br />Closed-loop Marketing is  62.5% analytics<br />The remaining 37.5% is driv...
Why 62.5%?<br />Step #1: Analysis of Data Required<br />Learn from campaign experience by measuring campaign results and a...
Why 62.5%?<br />Step #2: Analysis of Data Required<br />Plan the most effective marketing campaign offers and strategies.<...
Why 62.5%?<br />Step #3: Analysis of Data Required<br />Target campaign activities to tightly defined market segments with...
Why 62.5%?<br />Step #4: Captured Required Data<br />Act on those plans by Delivering promotional activity and support pro...
Why 62.5%?<br />In Summary<br />Analytics represent the bedrock of Closed-loop Marketing – the core process or supporting ...
In Summary: Closed-loop Marketing Vendors & Analytics<br />The 12.5% solution<br />Sole focus of CLM is currently on table...
Closed-loop Marketing AnalyticsEstablishing an Operational Framework<br />
Closed-loop Marketing Analytics:<br />Key Quantifiable Deliverables<br /><ul><li>Increase brand revenues
Build business case for Closed-loop Marketing
Deliver true ROI from CLM investment
Recognize the customer base as a manageable financial asset
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Closed-loop Marketing Analytics

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The weakness of current Closed-loop Marketing systems is their inability to drive a holistic analytical process - reports YES analytics NO. This presentation describes the importance of analytical to CLM success and the analytical process that is possible with Closed-loop Marketing.

Published in: Business

Closed-loop Marketing Analytics

  1. 1. Closed-loop Marketing AnalyticsThe 62.5% Question<br />
  2. 2. Analytics Defined:<br />Analytics leverage data in a particular functional process (or application) to enable context-specific insight that is actionable.<br />Source: Gartner<br />
  3. 3. Closed-loop Marketing Analytics Defined: Day-to-day Impact<br />Holistic Analytics = <br />Describe what is going on?<br />+<br />Explain why is it going on?<br />+<br />Establishobjective metrics<br />
  4. 4. Closed-loop Marketing Defined:<br />Driving Evidence-based Decision-making<br />Closed-loop Marketing (CLM) refers to a business process where physician behaviour and physician attitudes are captured, analyzedand integratedinto the sales & marketing process. <br />
  5. 5. Analytics: The “Holy Grail” of Closed-loop Marketing<br />Quantifiably proving the financial / prescribing impact of Closed-loop Marketing<br />
  6. 6. Traditional Closed-loop Marketing Metrics:<br />Subjective / No Quantifiable Impact <br /><ul><li>More effective customer interactions.
  7. 7. Reduce cost and add flexibility over paper based detail aids and reprints .
  8. 8. Lower administrative cost and better data with automated call capture.
  9. 9. Minimize Compliance Risk by taking control of your content.
  10. 10. Increase in Physician commitment to the brand</li></li></ul><li>Traditional Closed-loop Marketing Metrics:<br />Subjective / No Quantifiable Impact <br /><ul><li>Rep credibility increased
  11. 11. Physician Preference for tablet detailing
  12. 12. Ease of call reporting
  13. 13. Enabled longer calls
  14. 14. Impact versus a paper-based detail
  15. 15. Easier for Rep to handle physician objections
  16. 16. Usage by reps</li></li></ul><li>Why 62.5%?<br />Closed-loop Marketing is 62.5% analytics<br />The remaining 37.5% is driven by analytics<br />25%<br />25%<br />12.5%<br />
  17. 17. Why 62.5%?<br />Step #1: Analysis of Data Required<br />Learn from campaign experience by measuring campaign results and automatically feeding that intelligence back into the system to fine-tune future campaigns<br />
  18. 18. Why 62.5%?<br />Step #2: Analysis of Data Required<br />Plan the most effective marketing campaign offers and strategies.<br />
  19. 19. Why 62.5%?<br />Step #3: Analysis of Data Required<br />Target campaign activities to tightly defined market segments with high propensities (probability) to prescribe.<br />
  20. 20. Why 62.5%?<br />Step #4: Captured Required Data<br />Act on those plans by Delivering promotional activity and support programs that are in sync with defined business opportunities & capture the dynamics of the interaction for later analysis.<br />Deliver<br />Capture<br />
  21. 21. Why 62.5%?<br />In Summary<br />Analytics represent the bedrock of Closed-loop Marketing – the core process or supporting the core process<br />
  22. 22. In Summary: Closed-loop Marketing Vendors & Analytics<br />The 12.5% solution<br />Sole focus of CLM is currently on tablet based detailing (the ACT phase)<br />
  23. 23. Closed-loop Marketing AnalyticsEstablishing an Operational Framework<br />
  24. 24. Closed-loop Marketing Analytics:<br />Key Quantifiable Deliverables<br /><ul><li>Increase brand revenues
  25. 25. Build business case for Closed-loop Marketing
  26. 26. Deliver true ROI from CLM investment
  27. 27. Recognize the customer base as a manageable financial asset
  28. 28. Improve operational efficiency on key revenue generating metrics</li></li></ul><li>The Power of Closed-loop Marketing Analytics:<br />Traditional “Analytics” / Reporting<br />Aggregate Report<br />Closed-loop Marketing Analytics<br />From Rx Pad Back to Aggregate<br />
  29. 29. The Power of Closed-loop Marketing Analytics:<br />Drilling Down<br />Corporate<br />Business Unit<br />Brand<br />Region<br />Territory<br />Customer Segment<br />Individual Customer<br />Business Unit<br />HIV/AIDS<br />Business Region<br />Northeast<br />Territory<br />XXXX<br />Customer Segment(s)<br />Growth Segment<br />(Dr. Dan Bowers)<br />
  30. 30. Closed-loop Marketing Analytics:<br />Key Operational (sales/marketing) Questions<br />Impact on Business<br />Key Question<br />Defines the opportunity dynamics of the business relationship<br />Where are we?<br />Objectively describes the state of the business relationship<br />Where are we going?<br />Objectively measures the impact of promotional activity<br />How do we get there?<br />Establishes an objective customer development milestone<br />What’s our progress?<br />Objectively calculates customer profitability in terms of the protracted Pharma selling process <br />Are we making any money?<br />
  31. 31. Closed-loop Marketing Analytics:<br />Tracking – Financial Impact<br />Unrealized Revenue<br />What is going on?<br />7 performance metrics impacted <br />by Closed-loop Marketing<br />Equal to ~10-30% of revenue<br />Sub Optimal Spending<br />Why its going on?<br />8 metrics that impact the Performance Metrics<br />Equal to ~12-15% of revenue<br />
  32. 32. Closed-loop Marketing Analytics:<br />Performance Metrics Impacted by Closed-loop Marketing<br />Example - Metric #1: <br />Basic functionality of a Closed-loop Marketing system:<br />Brand Opportunity and Promotional Activity in synchronization.<br />Sales Issues - Analyzed<br />If the message delivered is in synch with the immediate brand opportunity:<br /> - relevancy to the physician<br /> - relevancy to the brand<br />
  33. 33. Closed-loop Marketing Analytics:<br />Performance Metrics Impacted by Closed-loop Marketing<br />Example - Metric #1: <br />Basic functionality of a Closed-loop Marketing system:<br />Brand Opportunity and Promotional Activity in synchronization.<br />Marketing Issues - Analyzed<br />Support programs/materials are in sync with Primary business opportunity<br /> - relevancy to the physician<br /> - relevancy to the brand<br /> - relevancy to the sales force<br />
  34. 34. Performance Metrics Impacted by Closed-loop Marketing:<br />Brand Opportunity and Promotional Activity in Synch<br /><ul><li>Utilize a Sales Continuum to define physician position.</li></ul>Value<br />Growth Threshold<br />Acquisition Threshold<br />Time<br />Definable: <br />Opportunities / Objectives / Customer Issues / Promotional Strategies / <br />Promotional Tactics / Promotional Channels / Contact Frequency<br />
  35. 35. Performance Metrics Impacted by Closed-loop Marketing:<br />Brand Opportunity and Promotional Activity in Synch<br /><ul><li>A CLM system with a robust analytical capability would answer:
  36. 36. Right product being targeted
  37. 37. % of calls not in synch
  38. 38. Cost of calls
  39. 39. Impact on NRxs / customer share
  40. 40. Impact on Revenue – unrealized revenue
  41. 41. % of CME event non-target audience members
  42. 42. Impact on Lifetime Value
  43. 43. Promotional materials utilized against defined opportunity</li></li></ul><li>Closed-loop Marketing Analytics:<br />Does Your CLM System Deliver Analytical Functionality<br />
  44. 44. Closed-loop Marketing Analytics:<br />Holistic Analytical Solution<br />Product<br />Closed-loop Marketing Application<br />“Is my Closed-loop Marketing program impacting performance?”<br />Analytical Tools<br />“Is my Closed-loop Marketing program increasing sales?”<br />“Is the Closed-loop Marketing system defining the right strategy being employed?”<br />“Does my Closed-loop Marketing system need to automate the opportunity definition process?”<br />“Is the messaging delivered by the Closed-loop Marketing system in sync with the opportunity profile of the physician?”<br />“How does my Closed-loop Marketing system track campaign effectiveness in near real-time for our new product?”<br />Analytical/Solution Tools<br />“Is the surveying functionality of my Closed-loop Marketing system capturing data / information that will impact promotion?”<br />“Is my brand strategy a barrier to maximizing revenues?”<br />
  45. 45. David Delong, Chief Customer Evangelist<br />The Customer Management Group<br />(800)-477-0907<br />ddelong@cmg-pharma.com<br />QUESTIONS<br />

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