Social Media Analytics Helps a Biotech Firm Increase Profit Margins by 25%

Jul 13, 2021

Overview and Engagement Summary

Social media analytics has dramatically influenced the 21st-century healthcare industry. Social media is one of the most popular platforms used by patients to access information and share medical stories and requirements with other patients and healthcare workers. The healthcare industry must leverage the power of social media analytics to monitor conversations from social media and use social media intelligence for comprehensive patient insights. Quantzig’s social media analytics and web analytics solutions include features like an automation-backed alert system and sentiment analysis that enable healthcare providers to track and analyze social mentions and patient sentiments accurately.

A healthcare industry giant collaborated with Quantzig to expand and modify their offerings in line with customer preferences and maintain transparency in all communications by leveraging social media analytics.

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The Client

The client is an American biotechnology firm headquartered in Los Angeles and is a pioneer name amongst generic drug manufacturers across the globe. They primarily develop medicines that treat respiratory diseases, cardiovascular diseases, arthritis, and other chronic medical conditions.

Business Challenges

Problem statement1 – Inefficient marketing strategies

The client wanted to improve its marketing strategies. They wanted to leverage the heap of data on social media where their existing and historical patients shared their experience and healthcare requirements. This client wanted to embrace this user-generated data to connect with potential patients and drive awareness about the biotechnology products and other services.

Problem statement 2 – Lack of actionable market insights

The client approached Quantzig to gain actionable market insights from social media monitoring and find new ways to promote their products and services, increase brand loyalty, and enhance revenues.

Problem statement 3 – No means to measure brand awareness

Online reputation management is an integral part of digital marketing. It can be used as a powerful tool to increase brand loyalty and enhance brand image. The client wanted to promote patient testimonials, positive patient reviews, and positive feedback on their social media forums to create a powerful positive impact and engage with their audience. They needed a means to measure the impact of their brand awareness efforts.

Problem statement 4 – Limited offerings

With the outspread of the COVID 19 virus and worldwide lockdown, this client experienced a high demand for many of their their services and offerings. The client wanted to learn what offerings to expand to newer markets and what new offerings to add to their existing kitty, so as to gain a new sustainable source of revenue.

With the help of Quantzig’s holistic social media analytics and web analytics solutions, we help businesses implement an integrated data-driven approach to address their existing business challenges. Book a 4-week-complimentary pilot to showcase our capabilities and help you meet your and your organization’s strategic objectives.

Solution Offered

Quantzig’s SMEs analyzed the client’s historical web and social media datasets and offered them detailed insights into customer sentiments, preferences, and external factors acting as influencers. Quantzig’s SMEs also deployed an automation-based algorithm to organize their unstructured datasets and map social media engagements with their patients, which helped them gain real-time insights for better decision-making.

Quantzig’s SMEs also designed a dashboard which enabled the client to receive real-time updates for all social media activites, like engagement rates, average impressions, social media mentions, on their forums. Equipped with real-time data, the client was able to devise better marketing strategies which fetched them a higher MROI, increased brand awareness and loyalty, and track existing patient sentiments to improve their services.

At Quantzig, we help you embrace user-generated data to connect with potential patients emotionally. Request a free proposal to gain comprehensive, actionable insights that help you boost loyalty and business outcomes.

Business Outcome

The critical business outcomes were –

  1. Achieved a 15% increase in profit margins with analytics-driven marketing strategies
  2. Enhanced brand awareness that resulted in a 22% increase in annual sales
  3. Introduced two new product offerings for the North American market

Request a free proposal to learn how our advanced web analytics solutions can help you optimize online experiences, enhance customer loyalty, and boost overall business outcomes.

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