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Digital Analytics is About Incremental Rx Gain

It is a New Year – let’s resolve to take charge and quantify the sales impact of our digital assets!

You can:

  1. Demonstrate a linkage between the web activity of patients, caregivers and healthcare providers (HCPs) and incremental Rx
  2. Build actionable insights on digital spend that brands can use

Think about how nice it will be to tell your boss: “I can quantify the incremental Rx[1] impact of our web assets, and further improve it, to deliver even more incremental Rx!”

A comment we often hear from pharmaceutical brand managers is, “All I get for digital analytics is a report with numbers of visitors and clicks…. it does not tell me whether this is good or bad for my brand’s financial goals.  Also, there are no actionable insights as to what to do next!” ROI on digital spend is important to senior level managers. The ability to show relevance to your bottom line and how it impacts incremental Rx is critical to success.

Let us take one example of how we can help the brands.

In life sciences, our brands’ websites and patient support program websites serve many purposes: awareness, education, consideration, Rx initiation, adherence etc. However, most analyses of web traffic fail to deliver the following:

  1. How many Rx did/ will it generate in (say) 6 months?
  2. Which keywords can I use to optimize my incremental Rx (not visits or clicks)?

Here are the steps one should take:

Chart

It’s a NEW YEAR, let’s begin to comprehend our true ROI!

 

[1] Incremental Rx is Rx attributed to a specific promotional activity while controlling for impact of other promotional vehicles e.g. sales force, samples, speaker programs etc.

 

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