SOURCE: Cutting Edge Information

Cutting Edge Information

June 23, 2011 09:18 ET

Physician Assistance Now Topping ROI for Pharmaceutical Marketing

New Report Analyzes Return-on-Investment for Various Drug Marketing Activities

RESEARCH TRIANGLE PARK, NC--(Marketwire - Jun 23, 2011) - 'Provider support' and other physician assistance strategies show some of the strongest return-on-investment among pharmaceutical marketing activities, according to a new report from Cutting Edge Information. These activities and programs help doctors and other healthcare providers increase patient access to medical treatments.

Pharmaceutical brand teams tie an average 18% of their revenue to provider support activities, more than any other marketing or promotional activity, the study determined. Provider support can include activities such as providing rebates and co-pay coupons and talking to insurance companies on behalf of patients.

The study, "Pharmaceutical Brand Lift: Marketing ROI and Budget Allocation," also found that late-to-market products see particular benefit through provider support programs compared to first-to-market brands, which often do not offer the same level of provider support.

"First-to-market drugs set the stage for how patients access new treatment options," said Adam Bianchi, Chief Operating Officer at Cutting Edge Information. "A company with second- or third-to-market brand must work differently with physicians, who may be happily prescribing the market leader, to communicate the benefits of a new product. That's where provider support can make a big difference."

Provider support activities will be receiving the greatest percentage increase in budgeting in the next several years, according to pharmaceutical benchmarking partners. Brand teams and executives indicate that their upcoming budgets will include a 35% increase to various provider support activities. The strongly positive ROI has generated a clear business case for greater funding and staffing, they said.

"Pharmaceutical Brand Lift: Marketing ROI and Budget Allocation," available at http://www.cuttingedgeinfo.com/research/marketing/brand-lift/, examines the brand impact and return on investment for nine marketing activities. Developed with input from 28 pharmaceutical and biotech companies, the study provides benchmarking data from both established and emerging markets.

The study is designed to help biotechnology and pharmaceutical companies meet goals outlined by benchmarking partners, including:

  • Boost brand value and the corporate bottom line with benchmarks for specific marketing activities.
  • Track hard-to-find ROI data for various marketing activities.
  • Determine the effectiveness of both traditional marketing activities and newer tools, including Internet-based channels.
  • Discover where marketing and brand executives can best put future investments.

Contact Information

  • CONTACT:
    Elio Evangelista
    919-403-6583