• Cognizant 20-20 InsightsKey Indicators: An Early Warning Systemfor Multichannel Campaign ManagementFor pharmaceuticals c...
•	 Traditional digital channels. These include        tactics or messaging might need to be adjusted                  e-ma...
relevant data for known targets as well as          This reporting framework allowed the client to  diverse groups of anon...
By focusing on these issues, the company was            physician data and an analysis of return onable to better identify...
About CognizantCognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process ...
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Key Indicators: An Early Warning System for Multichannel Campaign Management

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Phrmaceuticals companies are adopting multichannel marketing approaches, carefully identifying and measuring both leading and lagging indicators, to reach physicians and other health care providers and guide the process from awareness through purchase.

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Transcript of "Key Indicators: An Early Warning System for Multichannel Campaign Management"

  1. 1. • Cognizant 20-20 InsightsKey Indicators: An Early Warning Systemfor Multichannel Campaign ManagementFor pharmaceuticals companies, a careful analysis of both leading andlagging indicators for multichannel physician-contact efforts can resultin shortened cycle times, reduced costs and greater profitability. Executive Summary optimal multichannel management framework. This framework provides an “early warning Even though pharmaceuticals sales force pro- system,” delivering timely leading indicators fessionals have less direct access to physicians, to quickly adjust tactics, while its insights into a wider range of channels for reaching these lagging indicators measure cost-effectiveness key targets is emerging. These include human, and return. Leading pharma companies today are multimedia and digital channels that enable using this framework to achieve potent results pharma companies to meet growing needs for with multichannel marketing. physician data, one important way of supporting the industry’s emerging customer-centric Successful Multichannel Management: engagement model. Using an appropriate mix of A New Game channels for campaigns can reduce cycle time, cut costs and enhance revenue flows from both Multichannel campaigns combine tradition- new launches and mature brands. al channels with some of today’s emerging channels. Almost all campaigns leverage a very Engaging multiple marketing channels will strong digital component. The mix of channels achieve such results only if the multichannel can include: strategy is carefully planned, well executed and, as necessary, adjusted midstream to fine-tune • Physical/human contact channels. These tactics based on physician responses. Further, include sales force field representatives — traditional commercial operations management increasingly equipped with tablet PC presenta- and measuring tools are usually not well suited to tions, phone detailing, speaker programs and managing these campaigns that span human and service representatives distributing samples. digital channels. • Multimedia channels. These channels are becoming more digitized and include WebEx/ Deploying new tactics with a minimal ability Web presentations, sometimes with a live host, to measure their effectiveness is a frightening video/DVD-based detailing and e-sampling, prospect to most pharmaceuticals management using a company-owned Web site or portal or a personnel. However, it is an all-too-common third-party portal service for physician sample occurrence in today’s business world. Fortunately, orders. cloud and mobile technologies combined offer an cognizant 20-20 insights | september 2012
  2. 2. • Traditional digital channels. These include tactics or messaging might need to be adjusted e-mail, digital media, social network sites, and whether spend should be reallocated online physician communities, etc. midstream based on a tactic’s performance. Successfully managing a campaign that mixes Lack of key performance indicators (KPIs) is not physical and digital channels requires a deep an issue. The challenge is the industry’s strong understanding of these points: focus on lagging indicators, evident in reviews of channel and promotion reports. Lagging • Cross-channel planning must increase. More indicators tell what happened in the past, with planning about how data will be collected limited correlation to what will happen in the from new sources and then merged with tra- future. Indicators such as impressions, calls, ditional data sources is required targets reached, samples and materials delivered Companies often with multichannel campaigns. Country and regional plans and provide insights about the efficiency of a channel. allocate money measures are not adequate These measures, however, have only a vague or even unknown correlation to how effective to a brand; in for managing multichannel a channel is in moving targets toward desired multichannel physician campaigns. Because tactical execution occurs at the behaviors. campaigns, it’s individual target level, planning In contrast, leading indicators offer insights about critical that spend and measurements must also a channel’s potential effectiveness. These KPIsallocation is aligned be conducted at that level. That raises the critical question of are more behavioral and usually more complex to on an individual how a tactic’s success against compute. They require multiple data sources and more planning and coordination time to identify physician basis. specific individuals will be and collect the desired data. Consumer goods measured. and retail have used leading indicators to adjust • Spend allocations must be realigned. marketing tactics to drive higher sales, a tactic Companies often allocate money to a brand; in the pharma industry should adopt. Some of the multichannel campaigns, it’s critical that spend most valuable leading indicators include: allocation is aligned on an individual physician basis. For example, what delivery tools does a • Engagement level of visitors by traffic source. physician prefer, and how do these align with • Viral reach of marketing campaigns. tactics the same physician responds to? The answers to these questions have a direct impact • Cost per engaged visitor. not only on where spend should be directed but • Percent of visitors accessing specific content. on the metrics used to evaluate tactics. The Multichannel Management Early • Campaigns can yield richer data. Channels Warning System in Action directed to individuals can yield more data, so the management team must be prepared Leading pharmaceuticals companies are making to collect and interpret this data to quickly more sophisticated use of leading and lagging adjust the campaign tactic mix. Types of data indicators in their multichannel campaigns. The available include physician preferences about following cases demonstrate how careful identi- contact channels and individual preferences, fication and monitoring of indicators continually garnered by digital profiling of therapy and shape a multichannel campaign. treatment areas. Case One: From Awareness to Purchase to Loyalty The Early Warning System Channel Indicators • Situation: A client with a diversified portfo- lio encompassing medical devices, consumer Increased planning, realigned spend allocations products and pharmaceuticals products want- and data collection abilities must be combined ed to understand how key segments progressed with the right metrics for each channel, and across from awareness to actual purchase. With this channels, to ensure a multichannel campaign knowledge, the company could monitor and ad- is unfolding efficiently and effectively. Tracking just its promotional efforts more precisely. metrics most appropriate for a particular channel and its target segment enables the pharmaceu- Challenges included creating a monitoring and ticals company to understand how channels are measurement framework flexible enough to influencing and interacting with each other, what use with multiple business units and providing cognizant 20-20 insights 2
  3. 3. relevant data for known targets as well as This reporting framework allowed the client to diverse groups of anonymous consumers. recognize and adjust weak links in its campaigns. Further issues included the extreme differenc- In one situation, the reporting showed that while es in end-user purchase cycles and the relative awareness and interception were high, com- lack of branding for some key products. munication and promotional efforts were insuf- ficient to move the users• Solution:The client collaborated with us on to the engagement and A simplified Web a framework that tracked individuals and purchase cycle. Investiga- groups as they moved along a pathway from tion showed that while many design, with key awareness to interception and engagement on targets clicked through to engagement activities to purchase and eventually loyalty. We defined the Web site for more infor- on the home page, key leading and lagging metrics for each mation, content organiza- channel that gauged targets’ movement from tion on the site itself was a led to increased one step to the next. barrier to engaging targets. engagement and These included: A simplified Web design, with intent to purchase >> Awareness: KPIs included the number of key engagement activities activities such touch points in the marketplace and how on the home page, led to target audiences reacted to those, indicat- increased engagement and as requests for ing a move toward interception. Traditional intent to purchase activities information, use of such as requests for informa- metrics such as impressions and click- tion, use of surgeon locator surgeon locator tools through rates were supplemented with leading indicators of what users did once tools and CRM enrollment. and CRM enrollment. they clicked through to content. This was Case Two: Worldwide Multiple KPI Identification considered interception. and Tracking Solution >> Interception: After a user interaction, • Situation: A European client running a which represented interception, the frame- worldwide multichannel campaign required work measured the types of online behav- a means of identifying and then tracking and ior exhibited by the user. This allowed us reporting KPIs in each channel in a more to show how many intercepted customers efficient manner to provide insight to the were moving toward true engagement, and management team. The channels included how many were merely “window shopping.” service reps, tele-sales reps, a contractual sales >> Engagement: Metrics were ordered to rep- force, congresses and digital channels. resent likelihood to purchase. These met- rics ranged from participation in games • Solution: In partnership with us, the company individually reviewed each channel and and online events up to requests for in- identified and grouped performance indicators formation and downloads, which indicated by type of promotion. potential customers. By tracking the move- ment through the types of engagement, For channels with any type of personal, rep- the client was able to refine its marketing resentative interaction, the KPIs were the information and Web site design to move number of customers reached, number of targets to the purchase stage as quickly as targets reached, number of calls by target possible. segment, number of days in the field, calls per day, share of customers reached and number >> Purchase/intent to purchase: Measure in- of sample drops. KPIs for Web-based channels volvement of users in activities associated include number of clicks per day, number with imminent purchase. of site registrations, time spent on site and >> Loyalty: Track the perceptions and social requests for information. Those for symposia participation/viral spread generated by and congresses included number of acceptanc- current users to guide the development of es, attendees and requests for visits, samples advocates. Spillover impact was calculated or information. by accounting for the viral reach of users Leading KPIs received special attention. Three and social participants to gauge the wider or four key messages were identified for the reach of the brand, which would funnel po- tele-sales reps to attempt to deliver; those tential new customers into the initial aware- actually delivered were tracked as a measure ness stage. of engagement in key conversations. cognizant 20-20 insights 3
  4. 4. By focusing on these issues, the company was physician data and an analysis of return onable to better identify a successful combination investment for use in crafting future campaigns.of channels to improve its customer targeting. As pharmaceuticals companies rethink theirIndicators as a Best Practice customer engagement models and reinventThe right leading and lagging indicators for their operations, multichannel campaigns canspecific tactics and targets, monitored in near be powerful tools for enhancing revenues. Effec-real-time and coupled with anytime, anywhere- tively measuring these campaigns while they areaccessible dashboards and reports, add up to an in progress as well as after completion is clearlyeffective “early warning system” for multichan- an emerging best practice, one made possible bynel campaigns. The system also provides detailed using a sophisticated key indicator early warning system.About the AuthorsTom Jirele is a Principal and Practice Leader within Cognizant’s Multichannel Marketing and MeasurementCenter of Excellence, focusing on the measurement and interaction of marketing channels to optimizeclient spend. He has over 30 years of experience in measurement and modeling across the life sciences,retail, finance and education industries. For the past 15 years he has worked in the life sciences industry,leading engagements related to promotional measurement, marketing strategy and multichannel optimi-zation. He can be reached at Thomas.Jirele@cognizant.com.Klas Eriksson is an Associate Principal in Cognizant’s Enterprise Analytics Practice. He focuses on mul-tichannel marketing, dashboards and tools, segmentation and targeting and promotion response. Klashas extensive international experience in consulting for major pharmaceuticals companies. He can bereached at Klas.Eriksson@cognizant.com.About Cognizant Enterprise Analytics PracticeCognizant’s Enterprise Analytics Practice (EAP) combines business consulting, in-depth domain expertise,predictive analytics and technology services to help clients gain actionable and measurable insights andmake smarter decisions that future-proof their businesses. The practice offers comprehensive solutionsand services in the areas of sales operations and management, product management and marketresearch. EAP’s expertise spans sales force and marketing effectiveness, incentives management, fore-casting, segmentation, multichannel marketing and promotion, alignment, managed markets and digitalanalytics. With its highly experienced group of consultants, statisticians and industry specialists, EAPprepares companies for the future of analytics through its innovative “Plan, Build and Operate” modeland a mature “Global Partnership” model. The result: solutions that are delivered in a flexible, responsiveand cost-effective manner. www.cognizant.com/enterpriseanalytics.About Cognizant’s Life Sciences PracticeCognizant’s Life Sciences Practice partners with 27 of the top 30 global pharmaceuticals/biotech orga-nizations in addition to serving companies in the medical devices, CRO and life sciences product sectors.Whether it’s driving process improvements to your clinical operations, increasing sales and marketingeffectiveness, meeting regulatory requirements or enhancing drug safety, we are redefining the waycompanies benefit from and experience global services. We enable business transformation by deliveringconsulting, analytics, IT and business process support to fuel innovation and competitive advantage.www.cognizant.com/life-sciences. cognizant 20-20 insights 4
  5. 5. About CognizantCognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process out-sourcing services, dedicated to helping the world’s leading companies build stronger businesses. Headquartered inTeaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industryand business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50delivery centers worldwide and approximately 145,200 employees as of June 30, 2012, Cognizant is a member of theNASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performingand fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant. World Headquarters European Headquarters India Operations Headquarters 500 Frank W. Burr Blvd. 1 Kingdom Street #5/535, Old Mahabalipuram Road Teaneck, NJ 07666 USA Paddington Central Okkiyam Pettai, Thoraipakkam Phone: +1 201 801 0233 London W2 6BD Chennai, 600 096 India Fax: +1 201 801 0243 Phone: +44 (0) 20 7297 7600 Phone: +91 (0) 44 4209 6000 Toll Free: +1 888 937 3277 Fax: +44 (0) 20 7121 0102 Fax: +91 (0) 44 4209 6060 Email: inquiry@cognizant.com Email: infouk@cognizant.com Email: inquiryindia@cognizant.com©­­ Copyright 2012, Cognizant. All rights reserved. No part of this document may be reproduced, stored in a retrieval system, transmitted in any form or by anymeans, electronic, mechanical, photocopying, recording, or otherwise, without the express written permission from Cognizant. The information contained herein issubject to change without notice. All other trademarks mentioned herein are the property of their respective owners.

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