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Better Allocation Drives Greater Returns

Better Allocation Drives Greater Returns. Introduction. A series of studies have been conducted by ACNielsen HCI, Yale and Dartmouth that demonstrate the effectiveness of Medical Publications as:. The most important source of information for doctors—and still growing.

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Better Allocation Drives Greater Returns

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  1. Better Allocation Drives Greater Returns

  2. Introduction A series of studies have been conducted by ACNielsen HCI, Yale and Dartmouth that demonstrate the effectiveness of Medical Publications as: • The most important source of information for doctors—and still growing. • A medium where doctors see ads, recall the products and associate messages with the products. • A medium in which message association correlates with increased sales, and • A medium that generates a positive Return On Investment

  3. Medical Journals are the # 1 Source of Medical Information February 2004: n=4391 Percent Response Source: ACNielsen HCI Research 2004 Office-Based High Prescribers GP/FP/DO/IM

  4. Medical Journal Advertising Delivers The Message • MDs Read Journals • They See The Ads • They Recall The Products • They Get The Message • Message Association Correlates With Increased Sales • Advertising Improves Detailing’s ROI Nearly Three-Quarters Of The Time • When It Doesn’t It Is Not Due To The Medium, But To Message Problems And Funding Issues • With Assumptions On Message Quality And Product Age, We Can Begin To Predict Average Return On Investment *AC Nielsen HCI CTS database 6,800 campaign observations; Media-Chek annual survey of 7,000 MD’s

  5. Medical Journal Advertising Delivers Sales AC Nielsen HCI conducted in market tests of two products in major therapeutic areas. Key Findings Medical journal advertising campaigns should be pretested. Any degree of confusion or perceived clutter must be addressed. Not all medical promotion is effective. If a promotional approach doesn’t work, this research shows that it can be the results of a problem ad campaign or inconsistency in messaging and not the fault of the medium. It is mandatory to analyze campaign effectiveness using both attitudinal and behavioral techniques. A behavioral (Rx) analysis is designed to determine if the program raised sales, while the attitudinal analysis explains the results.

  6. The research in this study supports the concept that for medical journal advertising to be effective, it is important for a series of events to take place (campaign awareness, message penetration and change in 1st choice therapy) in advance of increased prescriptions. There is evidence that medical advertising can raise the level of perceived detailing when it connects with the sales aid. Medical journal advertising can work and this research confirmed that at an appropriate level the medical advertising created awareness, communicated its message, raised 1st choice therapy and raised sales in both the six-month and twelve-month measurement periods. Key Findings (cont’d)

  7. Product AAnatomy of a Success Advertising pretested and appropriate changes made. Advertising and detailing messages consistent. 1st 6 Months2nd 6 Months12 Months8 Months Increase in +9.8%*+11.1%*+10.5%* +11.2%* NRx’s Test vs. Control *Statistically significant at 95% level of confidence Test Period Post Period

  8. Product BLessons Learned Advertising pretested and appropriate changes Not made. Advertising and detailing messages Not consistent. 1st 6 Months + 0 Test Cancelled Change in NRx’s Test vs. Control

  9. Medical Journals Deliver A Significant Return On Investment • Medical Journal Advertising Delivers The Highest Marginal Return On Investment Among All Four Key Marketing Activities • This Plus Its Small Share Of Medical Promotion Expenditures, Suggests That Medical Journal Advertising Is Under Utilized • Spending the Right Amount In Medical Journals Can Enhance The ROI For All Types Of Brands, Small Or Large, New Or Established. Overall Return On Investment* *Behavioral Research conducted by Dr. Wittink at Yale. Based on an analysis of 392 branded drugs and 21,436 monthly observations from 1995 to 2000.

  10. Conclusions Given the proven strength of Medical Journal Advertising, companies should consider utilizing this medium to a greater extent in the marketing mix to make their programs: • More impactful • More efficient

  11. Proof of Performance • Coalition PhRMA Study • PhRMA Patient Assistance Program • Yale Analysis of ROI for Pharmaceutical Promotion • ARPP • Dartmouth ROI Analysis of Pharmaceutical Promotion • RAPP • Doctors of the World • AMP/ABM Study • ACNielsen HCI CTS • Case Studies #1-3

  12. Summary • Entire presentation and questions to be archived for 6 months • Links to presentation will be on both the ABM and AMP websites • Feel free to pass on to colleagues that couldn’t be here today

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