Highlights of the Pharma Marketing Analytics Case Study:
- Engagement Summary
- About the Client
- Business Challenge Faced by the Client
- Solution Offered
- Business Outcome
Almost all industries today are making use of advanced data analytics to thrive in a data-driven world. The pharmaceutical industry is no exception. Advanced data analytics is crucial for pharmaceutical marketing personnel, allowing them to harness the power of both traditional and real-world data. Using pharmaceutical marketing analytics throughout the commercial life cycle of a product can bring valuable insights that enable better targeting and understanding of today’s consumers, thus enabling pharma companies to optimize caregiver marketing, pharma salesforce effectiveness, and operational investments. A pharmaceutical firm approached Quantzig to leverage its expertise in pharma marketing analytics to treat data as a strategic asset and get valuable insights to optimize their marketing strategy to gain maximum return on investment.
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The client is a German drug manufacturer and is a pioneer name in the European drug market because of their contribution to saving lives during World War I.
One of the most crucial benefits of pharma marketing analytics is that it offers comprehensive insights into past events and helps the marketers understand the logic behind customer’s buying patterns. The client wanted to identify the reason behind the dynamic customer buying behavior.
The key challenges of the client included –
- Enhance marketing communication – The client wanted to personalize customer engagement models for every customer segment. By leveraging pharma marketing analytics, this drug manufacturer wanted to devise a new marketing communication strategy.
- Build buyers’ persona – Considering the explosion of channels that pharma marketing analytics personnel have today, was creating hindrances for the client to build their buyers’ persona. They wanted to integrate customer data and analyze each source individually.
- Gain real-time marketing updates – The client was lacking real-time updates on their pharmaceutical marketing strategy. They wanted to gain real-time updates to gain a competitive advantage.
Quantzig’s digital innovation in pharmaceutical industry can help pharma companies to optimize their marketing spendings, request a free proposal to know more.
The marketing analytics experts at Quantzig analyzed a huge set of customer data and marketing data and created a real-time dashboard to provide marketing information to the client. The real-time dashboard, along with data visualization, helped the client’s marketing team understand their customer buying behavior, segment customers, and plan marketing strategies accordingly. This enabled them to become more efficient and increase their return on marketing investments.
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Marketing analytics is the process of measuring, analyzing, and managing a marketing strategy’s performance to maximize its effectiveness and enhance the MROI. Quantzig’s multichannel marketing strategy helped the client be more efficient and helped them to optimize their marketing budget.
The key business outcomes were –
- Increased MROI by 67%
- Gain real-time marketing updates
- Devised robust marketing strategies for specific customer segments