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Pharma Digital Marketing Performance Excellence: Benchmarks on Core Services, Speed, Structure, Investment & Multichannel Maturity

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With the rapid advancement of technology, it is important for bio-pharmaceutical companies to adopt a multi-channel marketing approach to effectively engage with a diverse set of consumers.

Best Practices, LLC undertook benchmarking research to identify drivers of digital marketing performance excellence in the health care industry. This report provides benchmarks and insights around digital marketing structural trends, investment levels in terms of headcount and budget allocations, speed to execute key digital tactics and maturity of multi-channel functions.

Download Full Report: http://bit.ly/2anszRy

Published in: Marketing
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Pharma Digital Marketing Performance Excellence: Benchmarks on Core Services, Speed, Structure, Investment & Multichannel Maturity

  1. 1. Page | 1 Best Practices, LLC Strategic Benchmarking Research & Analysis Best-in-Class Pharma Digital Marketing Performance: Core Services, Speed, Spend & Structure
  2. 2. Page | 2 Table of Contents  Executive Summary pp. 3-11 • Research Overview p. 4 • Key Findings & Insights p. 7  Detailed Research Findings p. 12 1. Foundational Benchmarks p. 13 Digital Marketing Structure Funding Model 2. Achieving Multichannel Excellence p. 20 Multichannel Maturity Benchmarks Speed to Execute Key Services Syncing Channel Service Strategy Fostering Digital Culture across the Organization 3. Digital Investment Trends p. 36 Budget Staffing  APPENDIX: Benchmark Class Profile p. 48  About Best Practices, LLC p. 53
  3. 3. Page | 3 Field Research & Insight Development: Best Practices, LLC engaged 39 digital marketing leaders at 30 companies through a benchmarking survey instrument. Research participants worked in such functions as digital, multichannel marketing, business excellence and intelligence, marketing, and sales. • Evaluate the structure and maturity of multichannel functions to identify performance weaknesses & opportunities • Examine the speed and integration by which core services are delivered • Optimize investment into digital marketing staffing & budget for key activities Research Objectives & Methodology Research Objectives:  This benchmarking deliverable is part of a series of Best Practices’ studies designed to examine Digital Marketing performance excellence in the healthcare industry.  This study analyzes benchmarks around:  Digital marketing structural trends  Digital marketing investment, in terms of headcount and budget allocations to key activities  Speed to execute digital tactics  Achieving multichannel maturity and platform convergence  Fostering a digital culture across the organization Business Objective: This research examines a host of foundational benchmarks required to achieve best-in-class performance in digital marketing in the healthcare sector, and foster a stronger digital culture throughout the organization.
  4. 4. Page | 4 Data Segments:  Large Company: Annual revenue > $10 billion (US) in 2014  Medium & Small Company: Annual revenue <$10 billion (US) in 2014  Global Teams: Any respondent company where the digital marketing is a global responsibility  US Only: Any respondent company where the digital marketing function is responsible for US region.  Brand-Aligned DM Teams: Any respondent company where digital capabilities are delivered from the brand or business unit level, often with some centralized support  Centralized MCM Teams: Any respondent company where digital marketing capability resides within a centralized multichannel marketing group or Center of Excellence To help distill the most precise and relevant benchmark insights, several data segments were used in this study. Definitions of these data segments, as well as other research terms and acronyms used throughout this research, are provided below. Key Terms & Acronyms:  DM – digital marketing  EHR – electronic health record(s)  HCP – healthcare provider  MCM – multichannel marketing  ROI – return on investment  SEO – search engine optimization  SM – social media Data Segmentations & Acronyms Used in this Study
  5. 5. Page | 5 Universe of Learning: 30 Top Companies Contributed to this Research This research engaged 39 digital marketing leaders from 30 leading pharmaceutical, biotech, and life sciences companies. Thirteen study participants represent large pharma organizations, while the remaining benchmark class represent medium or small companies. Benchmark Class: Large Companies (Revenue > $10 Billion US in 2014) Medium & Small Companies (Revenue < $10 Billion US in 2014)
  6. 6. Page | 6 The following key findings and insights emerged from this study.  Digital Marketing Is Administered by Increasingly Complex Function:  Hybrid functions are most common: As the scale and complexity of biopharma digital marketing grows, companies are using multi-tiered delivery structures to meet the needs of diverse internal customers. Almost half (48%) of benchmark companies use a hybrid DM structure, where activities are divided between centralized and brand teams. Fully centralized (5%) or decentralized structures (18%) are now rare.  Brand-Aligned DM Teams Struggle to Foster an Infectious Digital Culture: Digital teams with strong brand reporting lines are often silo-ed and are frequently unable to foster a strong digital culture across the organization. These groups struggle especially with digitizing the value chain (only 17% report positive performance), implementing new technologies (28%), and gathering insights (33%). Counterparts in centralized MCM teams excel in all of these areas.  Social Media Headcount at Global Teams to Double by Next Year: On average, benchmark companies currently allocate 1.26 FTEs to social media engagement and marketing across the organization, a number which will jump to 2.00 by next year. Page | 6 Key Findings
  7. 7. Page | 7 As the scale and complexity of biopharma digital marketing grows, companies are using multi-tiered delivery structures to meet the needs of diverse internal customers. Almost half (48%) of benchmark companies use a hybrid DM structure, where activities are divided between centralized and brand teams. Fully centralized (5%) or decentralized structures (18%) are now rare. Digital Marketing Is Administered by Increasingly Complex Function Q. How is the digital marketing function structured within your organization? % Respondents Digital Marketing Function Structure: Total Benchmark Class Centralized, standalone group, 5% Part of MCM, Innovation, or Center of Excellence group, 30% Embedded within brands or business units, 18% Mix of centralized team and brand- embedded digital marketers, 48% N=39
  8. 8. Page | 8 100% 100% 100% 100% 90% 60% 90% 70% 67% 60% N=9-10 Creating a Strong Digital Culture: Brand-Aligned DM TeamsCentralized MCM Teams 100% 94% 100% 83% 89% 53% 53% 33% 28% 17% Executing effective marketing campaigns directly to customers Building digital infrastructure to enhance customer engagement (e.g., iPad technology, CRM) Gathering insights and analytics to inform strategy and improve business Rapidly assessing new technologies and digital opportunities to lead brands forward Digitizing the value chain and other operational areas to seed efficiency Active Positive Performance N=17-18 Digital teams with strong brand reporting lines are often silo-ed and are frequently unable to foster a strong digital culture across the organization. These groups struggle especially with digitizing the value chain (only 17% report positive performance), implementing new technologies (28%), and gathering insights (33%). Counterparts in centralized MCM teams excel in all of these areas. Brand-Aligned DM Teams Struggle to Foster an Infectious Digital Culture Q. How would you assess the current performance of your team in connecting the “digital thread” across the following operational lines?
  9. 9. Page | 9 1.3 1.5 1.3 2.0 0.1 0.1 0.0 0.0 0.0 0.5 1.0 1.5 2.0 2.5 Current FTE Headcount - Social Media Only Planned Headcount for Next Year - Social Media Only % Respondents N=36 On average, benchmark companies currently allocate 1.26 FTEs to social media engagement and marketing across the organization. Driven by significant SM pushes at several companies, the industry on the whole projects an average of 2.02 FTEs in 2016. Staffing across Social Marketing Will Jump from 1.26 to 2 FTEs in 2016 Q. What is your organization’s total FTE staffing investment across all social media programs? Social Media (Only) FTE Staffing Allocation: Total Benchmark Class Planned: 2016 Social Media Headcount 2015 Social Media Headcount
  10. 10. Page | 10 United States & Canada, 54% Asia-Pacific, 21% Europe, 15% Latin America, 5% Other, 5% Benchmark Research Reflects Digital Practices around the Globe N=39 Country: *Other countries represented: Saudi Arabia, Russia * Q. In what country or region are you currently located? Study participants provide digital services to major markets around the world. More than half serve the US and Canada, with strong representation from both the Asia-Pacific and European markets.
  11. 11. Page | 11 Best Practices®, LLC is an internationally recognized thought leader in the field of best practice benchmarking®. We are a research, consulting, benchmark database, publishing and advisory firm that conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by leveraging the best business practices, operating tactics and winning strategies of world-class companies. 6350 Quadrangle Drive, Suite 200 Chapel Hill, NC 27517 (Phone): 919-403-0251 www.best-in-class.com Learn More About Our Company:

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