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Innovative Consumer Relationship Marketing Program in the USA
Background/problem
A US based Pharma company was aiming to build a strong foundation to increase conversion and retention of key patient groups in a highly competitive market (biological). Total number of patients suffering from indicated condition is low (n= less than 15,000) in a billion dollar per year category.
M2 WorldWide was hired to develop a strategic and measurable Relationship Marketing Plan that would provide the best solution under restrictions of a low budget and short timetable. While working to develop an RM plan, eleven agencies were working hand to hand with the brand team to develop new programs, despite the fact that there were more than 30 programs running simultaneously.
Our analysis identified the following gaps:
1. Lack of integration between agencies partners
2. No key understanding of consumer needs
3. No one actionable database or data collection plan (there were more than five different databases prior to program development)
4. No foundation for growth
Our Solution:
M2 WorldWide quickly gathered the appropriate resources and quickly developed an approach that allowed us to:
* Analyze key business drivers including consumer market research, program effectiveness and competitive activities (focusing on the identification of key messages, objectives, target audience, frequency and channels)
* Re-define the Data Collection Process
* Develop a measurable acquisition and conversion plan based on key segments identified in Global Segmentation Study and data sources
* Identified additional communication gaps between HCP's and its patient population
Results:
M2 WorldWide accomplished brand team's goals by developing a strong foundation to allow growth in sales:
* A consistent database that allowed the brand team and partner agencies to clearly understand and communicate with patients, caregivers, and healthcare professionals
* An RM plan based on a measurable, scalable, and consistent process across all tactics
* Marketing spend allocation was optimized and tactics adjusted accordingly
* Ineffective programs were terminated (as were ineffective partners)
* The RM plan provided a strong foundation for their new product launch
* Return on the clients investment easily covered our fees
Acquisition & Conversion program for a new biologic compound – U.S.
Background/Problem:
- A new biologic product for a life threatening condition was about to be launched. There were several agency partners working on the brand but not one specific agency had the responsibility for driving the consumer or patient initiative. Budgets and tactical plans were approved with the focus on retaining patients on medicine.
- There was no plan to focus on a method for establishing ROI or measuring the program
- There was also no way to report to results to management in a meaningful & seamless fashion.
Our Analysis:
- Through our analysis, we discovered the main focus of the initiative was on retention; however, since the drug was just being launched there were not enough people on therapy to be retained.
Our Solution:
- Our recommendation to the company was to change the focus of the program to acquisition and conversion verses retention.
- We developed a full year Relationship Marketing plan including goals for each RM objective. We also reallocated funds to acquisition and conversion programs and removed most retention programs. We performed a proprietary ROI analysis and developed several measurement criteria (including: Cost per lead and conversion ratios) to measure the success of the program. We set up a seamless process for reporting. .
Results:
- The program was wildly successful and the company met its goals for acquisition and retention.
- Management received the reporting they needed in a timely manner
- Better yet…All of our fees and more were recouped by the company by focusing on the right objectives and putting programs in place to hire the new demand that was created.
Timing:
The planning portion of the project took less than 4 months and the final plan took less than 12 months to complete.
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