Axtria Principals David Wood, PhD and Randy Risser present analytical techniques developed in Axtria’s R&D labs.
Abstract: Pharmaceutical marketers have struggled with the challenge of optimizing the overall marketing mix for some time now, and reasonable progress has been made. However, this fails to hold with consumer marketing, particularly consumer digital marketing. A variety of channels exist (banner ads, paid search, branded websites with or without consumer registration, etc.). Some of these currently benefit from predictive. But most of these are still poorly measured (even for basic ROI) and are generally not yet fully integrated into the overall marketing process. The interaction effects with marketing to Health Care Professionals are not yet well understood, and an appropriate budgeting framework is lacking. Based on our experience in Pharma and other industries, this talk will explore these issues and approaches to solving them. Axtria will present examples that illustrate approaches for measuring ROI of digital marketing programs in Pharma (addressing the challenge that most consumer digital marketing is difficult to link to actual Rx volume) Axtria will present a framework for modeling consumer promotional channels and their interaction among each other, and with professional promotion. This allows for optimization of overall budgeting (accounting for interaction effects) and lays the groundwork for a more detailed micro-targeting on both sides. Click here for more information.