Physician Journey Analysis: A Case Study on How an Over the Counter Drugs Manufacturer Reduced Marketing Cost by 30%
The client: A prominent over the counter drugs manufacturer, Size: >$86 billion in revenue, Area of engagement: Physician journey analysis
Factors that drive the over the counter drugs market are changes in cultural attitudes regarding self-medications required for minor health problems, affordability of over the counter drugs, convenience of direct purchase, high adoption and acceptance in developing markets, savings enabled by the usage of over the counter drugs, and developments and innovations in drugs. The over the counter drugs market in countries such as India, China, and, Brazil is projected to grow at a high growth rate in the coming years due to increase in awareness among the population about the usage of over the counter drugs to treat minor health issues.
The Business Challenge
The client – A multinational pharmaceutical drugs manufacturer based out of US, approached Quantzig to help them identify the best marketing action at each stage of physician engagement with the organization. The client wanted to strengthen physician engagement with the organization and evaluate the entire physician journey by identifying the right targeting strategy at every stage. Furthermore, the over the counter drugs manufacturer wanted to integrate data from several levels and fields such as physician attributes and marketing and sales facts.
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The Solution Benefits and the Business Impact
With the help of Quantzig’s physician journey analysis engagement, the over the counter drugs manufacturer gained insights into the best marketing action that was needed at each stage of physician engagement with the organization. Data from multiple sources was integrated to create physician journey maps. This helped them reduce marketing cost by 30%.
Physician Journey Analysis Predictive Insights
Quantzig’s physician journey analysis helps firms in the healthcare industry space to identify the physicians who are using competitor brands but are willing to switch, given the right content and touch point. The analysis also helps firms optimize resource allocation across digital and non-digital channels.
Also, our analysis of the global healthcare shows that over the counter drugs manufacturers are facing snags in terms of:
- Rising competition: ‘Patients’ become ‘consumers’, while over the counter manufacturers face new challenges competing not only against other pharmacological formulations but often also against other treatment solutions such as functional foods and nutritional products.
- Bringing healthcare professionals and consumers together: Today, an over the counter drugs manufacturer’s success relies on a collaborative care model, involving co-operation between consumers, pharmacists, and In certain indication areas, relatives or patient associations may play also an important role in influencing treatment choice.