{"id":551,"date":"2015-04-15T14:46:00","date_gmt":"2015-04-15T19:46:00","guid":{"rendered":"http:\/\/www.rx-edge.com\/blog\/?p=551"},"modified":"2016-05-24T09:23:48","modified_gmt":"2016-05-24T14:23:48","slug":"lets-talk-dollars-spending-results-and-impact","status":"publish","type":"post","link":"https:\/\/www.instephealth.com\/blog\/lets-talk-dollars-spending-results-and-impact\/","title":{"rendered":"Let\u2019s talk dollars, spending, results, and impact"},"content":{"rendered":"

Pharmaceutical marketers have a unique set of matters to contend with when they create consumer-directed initiatives:\u00a0 medical-legal boards, OPDP oversight, FDA guidelines, social media constraints, presentation of safety and risk information\u2026.and well, you know the story!<\/p>\n

\"ImpactBut just like their fellow marketers of less-heavily scrutinized products, they want their programs to have an impact.\u00a0 They want to generate awareness. They want their communications to reach the people (patients and prospective patients) who will have the highest likelihood of interest, so they\u2019ll take the appropriate action.\u00a0 They want their messages to be meaningful and not ignored.<\/p>\n

And ultimately, they want to optimize their return on investment.\u00a0 \u00a0<\/em><\/p>\n

Which brings me to the reasons for this post.\u00a0 Dollars.\u00a0 Spending.\u00a0 Results. Impact.<\/p>\n

According to the latest Nielsen data, DTC spending (excluding digital) in pharma was up considerably during 2014, almost 21% higher than the 2013 total.\u00a0 As usual, TV claimed the largest share of the $4.5 billion – $3.2 billion to be exact, 26% higher than the prior year.<\/p>\n

\u201cThat\u2019s a lot of money\u2026.\u201d<\/em><\/p>\n

When we at Rx EDGE look at this spending data and see those TV numbers especially, we automatically think:\u00a0 \u201cThat\u2019s a lot of money!\u201d\u00a0 And then we think \u2013 \u201cHow is the impact demonstrated?\u00a0 What methods are used to justify the spending?\u201d\u00a0 In a highly measurable medium like the pharmacy channel, these types of questions can be readily answered.\u00a0 Matched-panel research techniques supply a true picture of program results and return.<\/p>\n

If we compare the average ROI delivered by our Solutions at the Shelf program to typically-reported ROI from television, the impact that could be realized if even a very small percentage<\/em> of those TV dollars were shifted to the pharmacy channel is staggering.\u00a0\u00a0 Here\u2019s an example of how it would play out, using comparable spending amounts:<\/p>\n

\"Impact<\/a><\/p>\n

Based on the above model, this brand would have to spend than three times as much on a TV buy in order to generate the same incremental revenue created by a single Rx EDGE pharmacy program.<\/p>\n

And now for the \u201cqualitative\u201d side of things\u2026.<\/em><\/p>\n

Of course, marketing efforts contribute value to a brand in ways that go beyond dollars-in and dollars-out.\u00a0 Television in all its bigness certainly has a place in brand plans when it comes to reaching a sizable audience, generating brand-name recognition, and stimulating awareness about diseases.\u00a0 As well as creating a certain amount of \u201cbuzz\u201d (although most of that buzz is less than positive).<\/p>\n

\"Channel<\/p>\n

But, let\u2019s face it:\u00a0 when people are watching a TV show of any kind, most of them want to be entertained on some level.\u00a0 They are willing to have that entertainment experience interrupted from time to time with advertising, but given the choice, they\u2019d rather just skip it.<\/p>\n

Placing information in the pharmacy aisles, on the other hand, gives brands an opportunity to reach people when they are in the Mindset Moment\u2122.\u00a0 That\u2019s when they are thinking about their healthcare and are motivated to act, which means there is a good probability that they will contemplate and actually absorb the message in some way.\u00a0\u00a0\u00a0 Most importantly, they\u2019re in a healthcare environment, which is more than can be said for the family room sofa.<\/p>\n

Pharma marketers work hard to translate their strategic insights into messages that will be understood and embraced.\u00a0 When they make investments in marketing vehicles, they should\u00a01) feel confident that those messages are being seen by the optimal audience, and\u00a02) be able to validate their spending decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pharmaceutical marketers have a unique set of matters to contend with when they create consumer-directed initiatives:\u00a0 medical-legal boards, OPDP oversight, FDA guidelines, social media constraints, presentation of safety and risk information\u2026.and well, you know the story! But just like their fellow marketers of less-heavily scrutinized products, they want their programs to have an impact.\u00a0 They […]<\/p>\n","protected":false},"author":1,"featured_media":923,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/posts\/551"}],"collection":[{"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/comments?post=551"}],"version-history":[{"count":16,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/posts\/551\/revisions"}],"predecessor-version":[{"id":573,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/posts\/551\/revisions\/573"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/media\/923"}],"wp:attachment":[{"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/media?parent=551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/categories?post=551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.instephealth.com\/blog\/wp-json\/wp\/v2\/tags?post=551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}