Quantzig collaborated with a client from the pharmaceutical industry to help increase their return on marketing investment (MROI) as well as gain insights on their customers’ needs and preferences by making use of the multi channel marketing strategy. This led to an improvement in their MROI, a reduction in customer acquisition cost, as well as an increase in their customer engagement rate.
About the client
The client is a UK based medical device manufacturer with overseas offices across the US and subsidiaries across Western Europe. Founded before World War II, the client is a pioneer in the field of medical devices. They initially manufactured only thermometers, but with advancements in technology, they have now expanded into manufacturing medical disposables and diabetes care products.
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The Client’s Problem
With the advent of the internet era, the new-age consumer is increasingly engaged on various devices and media channels. With multiple channels at the ready, the client was unable to provide a seamless customer experience to customers across these channels. The client’s challenges revolved around three core areas, including:
Improve Customer Experience – The client was facing problems with sending out consistent messages across the platforms, making it difficult for the customers to engage with the brand easily.
Increase Conversion Rate – The client was unable to devise a multi channel marketing strategy, leading to a low customer engagement rate, and thus a low conversion rate.
Expand Customer Base – The client was keen on creating a marketing strategy to target specific segments of audiences so as to increase their customer conversion rate.
With a proper pharma multi channel marketing strategy businesses can find the perfect mix that helps in lowering cost per acquisition. Speak to our experts to know more about our multi channel marketing solutions.
Multi-channel marketing is the implementation of a single strategy across multiple channels or platforms of a company, such as a website, mobile application, e-mails, and webinars, maximizing opportunities to interact with prospective customers and giving customers a choice to interact with the company how and when they want to, ultimately improving the company’s overall reach. Quantzig’s multi-channel marketing solutions for the pharmaceutical industry helped the client gain actionable insights into the buying habits and demographics of every customer segment they have. The client was, thus, able to build buyer personas and gained insights into their buyers’ needs, preferences, and journeys, enabling them to create targeted marketing strategies for different customer segments.
In a very short span of time, Quantzig’s marketing analytics solutions enabled the client to gain granular insights into their customers’ needs and preferences, helping devise targeted marketing strategies for different segments. This led to a substantial increase in customer engagement and customer conversion rates. They were also able to reduce their cost per acquisition, thus attaining better returns on the marketing investment (MROI). The key business outcomes of Quantzig’s pharma multi-channel marketing strategy for the client were-
- Lowered the customer acquisition rate by 15 percent
- Improved the customer conversion rate by 24 percent
- Enhance customer’s perception of the company