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.
2. Analytics Defined: Analytics leverage data in a particular functional process (or application) to enable context-specific insight that is actionable. Source: Gartner
3. Closed-loop Marketing Analytics Defined: Day-to-day Impact Holistic Analytics = Describe what is going on? + Explain why is it going on? + Establishobjective metrics
4. Closed-loop Marketing Defined: Driving Evidence-based Decision-making Closed-loop Marketing (CLM) refers to a business process where physician behaviour and physician attitudes are captured, analyzedand integratedinto the sales & marketing process.
5. Analytics: The “Holy Grail” of Closed-loop Marketing Quantifiably proving the financial / prescribing impact of Closed-loop Marketing
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7. Reduce cost and add flexibility over paper based detail aids and reprints .
17. Why 62.5%? Step #1: Analysis of Data Required Learn from campaign experience by measuring campaign results and automatically feeding that intelligence back into the system to fine-tune future campaigns
18. Why 62.5%? Step #2: Analysis of Data Required Plan the most effective marketing campaign offers and strategies.
19. Why 62.5%? Step #3: Analysis of Data Required Target campaign activities to tightly defined market segments with high propensities (probability) to prescribe.
20. Why 62.5%? Step #4: Captured Required Data 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. Deliver Capture
21. Why 62.5%? In Summary Analytics represent the bedrock of Closed-loop Marketing – the core process or supporting the core process
22. In Summary: Closed-loop Marketing Vendors & Analytics The 12.5% solution Sole focus of CLM is currently on tablet based detailing (the ACT phase)
29. The Power of Closed-loop Marketing Analytics: Drilling Down Corporate Business Unit Brand Region Territory Customer Segment Individual Customer Business Unit HIV/AIDS Business Region Northeast Territory XXXX Customer Segment(s) Growth Segment (Dr. Dan Bowers)
30. Closed-loop Marketing Analytics: Key Operational (sales/marketing) Questions Impact on Business Key Question Defines the opportunity dynamics of the business relationship Where are we? Objectively describes the state of the business relationship Where are we going? Objectively measures the impact of promotional activity How do we get there? Establishes an objective customer development milestone What’s our progress? Objectively calculates customer profitability in terms of the protracted Pharma selling process Are we making any money?
31. Closed-loop Marketing Analytics: Tracking – Financial Impact Unrealized Revenue What is going on? 7 performance metrics impacted by Closed-loop Marketing Equal to ~10-30% of revenue Sub Optimal Spending Why its going on? 8 metrics that impact the Performance Metrics Equal to ~12-15% of revenue
32. Closed-loop Marketing Analytics: Performance Metrics Impacted by Closed-loop Marketing Example - Metric #1: Basic functionality of a Closed-loop Marketing system: Brand Opportunity and Promotional Activity in synchronization. Sales Issues - Analyzed If the message delivered is in synch with the immediate brand opportunity: - relevancy to the physician - relevancy to the brand
33. Closed-loop Marketing Analytics: Performance Metrics Impacted by Closed-loop Marketing Example - Metric #1: Basic functionality of a Closed-loop Marketing system: Brand Opportunity and Promotional Activity in synchronization. Marketing Issues - Analyzed Support programs/materials are in sync with Primary business opportunity - relevancy to the physician - relevancy to the brand - relevancy to the sales force
44. Closed-loop Marketing Analytics: Holistic Analytical Solution Product Closed-loop Marketing Application “Is my Closed-loop Marketing program impacting performance?” Analytical Tools “Is my Closed-loop Marketing program increasing sales?” “Is the Closed-loop Marketing system defining the right strategy being employed?” “Does my Closed-loop Marketing system need to automate the opportunity definition process?” “Is the messaging delivered by the Closed-loop Marketing system in sync with the opportunity profile of the physician?” “How does my Closed-loop Marketing system track campaign effectiveness in near real-time for our new product?” Analytical/Solution Tools “Is the surveying functionality of my Closed-loop Marketing system capturing data / information that will impact promotion?” “Is my brand strategy a barrier to maximizing revenues?”
45. David Delong, Chief Customer Evangelist The Customer Management Group (800)-477-0907 ddelong@cmg-pharma.com QUESTIONS