Vol. 7, Issue No. 6: JUNE/JULY 2008 – EXECUTIVE SUMMARYGoing Global, Networking Reception Highlights, Vendor Video Showcase OpEd by John Mack
Going Global In order to bring our readers more insight into pharmaceutical marketing issues around the world, Pharma Marketing News is endeavoring to reach agreements with content partners in the UK, India, and other markets Networking Reception Highlights The vast majority of the 60-70 attendees of this event rated it very high in a survey: 83% said they met someone they may be able to do business with in the future, 61% said they met at least one potential client, and 72% said they would attend the next event. Vendor Video Showcase One of the more innovative activities at the Networking Dinner Reception was the video recording of “elevator pitches” made by several attendees.
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Why Pharmaceutical Marketers Ignore ROI You Want ROI? You’re Not Ready for ROI!
Pharmaceutical marketers are being asked to more thoroughly prove the effectiveness of their programs by quantifying exactly which messages impact prescribing the most, what the return on each sales and marketing program is, and what optimal combination of programs (and budgets) will deliver maximum prescribing (market share) results. Thus, we often hear speakers affirm the importance of “Return on Investment” (ROI) in their presentations at conferences relating to sales force effectiveness and marketing. However, there is often scant evidence that ROI has been effectively measured.
There are many reasons why pharmaceutical marketers may not be effectively measuring ROI. This article discusses several of these reasons and includes feedback and opinions from several experts who agree that all marketers – and pharma marketers in particular – have a problem with traditional ROI analysis.
Topics include:
- Why Marketing Performance is Important to Measure
- If You Can’t Define It, You Can’t Measure It!
- What Are Marketers Measuring? Some ANA/MMA survey results
- Pharma Must Measure Success with Patients
- (DTC) ROI is Alive and Well!
- Marketers Lack Financial Accountability
- Lack of Critics
- Marketing is Art, ROI is Science
- The Problem with Agencies and Awards
- Do Large Profit Margins Make ROI Analysis Unnecessary?
- What’s the ROI of Online Marketing?
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Creating the Most Effective Sales Calls The Impact of Messaging on Prescribing
As sales costs soar, it is critical to design and deliver messages that break through the competitive clutter and impact product performance. But how can you develop messages that drive prescribing? How can you be sure your reps are giving the messages you want to convey-and know those messages are working? And how can you protect against competitive messaging and unexpected market events?
This article presents highlights from a Webinar on this topic presented by David Owen, Director, TNS Healthcare, including:
- Trend Towards Central Control of Messaging
- DetailMedTM: Continuous, Consistent, Measure of Call Effectiveness
- Representative Effectiveness Survey
- Measuring Impact of Details
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Diversity in the Life Sciences The Life Sciences Profiles of Color Project
On October 14, 2007, Dr. James Watson, winner of the Nobel Prize as co-discoverer of DNA’s molecular structure and former chancellor of New York’s Cold Spring Harbor Laboratory was quoted in the Times of London saying he was “inherently gloomy about the prospect of Africa” because “all our social policies are based on the fact that their intelligence is the same as ours — whereas all the testing says not really.”
In response, Fard Johnmar over at HealthcareVOX blog, went “off topic” to comment on racist “gestures” like nooses hung on trees and doors and the brouhaha over Watson’s remarks. Johnmar suggested that we should not waste our time condemning these incidents but rather counteract racist beliefs with communication.
This article describes how this lead to the creation of the Life Sciences Profiles of Color (LSPOC) Project and Blog. Not only can this project give young people examples of successful people of color in the life sciences, it can also help improve the industry’s public image, which has fallen to a new low in the last year.
Topics covered include:
- Industry Reputation
- Racism in the Pharmaceutical Industry
- Case Study: Dierdre Connelly
- Craig DeLarge – the First LSPOC Story
- AMA: Achieving Racial Harmony for the Benefit of Patients and Communities
- Diversity on the Ad Agency/Vendor Side
- How You Can Help
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Value-based Pricing Lessons to Learn from the UK Experience
This article summarizes the second half of a presentation by Uday Bose, European marketing director for GlaxoSmithKline Oncology, in which he focuses on reform attempts within European countries and pharma’s reactions, the benefits and perils of risk-sharing agreements and how pharma might best meet the challenges of the marketplace now and into the future. Also included are updates relating to these issues since the presentation was made.
Topics include:
- Price Regulation and Innovation
- Risk sharing, pros, cons and possibilities
- Payer concerns
- Pharma concerns
- It’s not just efficacy anymore
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