EXPERTISE / PHARMACY
Pharmacy: how can I improve my ROI?
Our client, leader in insulin sales, wanted to know exactly what was the return on investment of each pharmaceutical marketing action being performed
They also wanted to find out, mathematically, the value that medical visits had, depending on the number of products being presented and the order of sequence at the time of their presentation.
We constructed various mathematical models in order to eliminate the multicolinearity between the various marketing actions, so enabling the measurement of the return of each one of them.
Actions carried out:
With the help of the client's marketing department, a complex database was built, containing all marketing investments by type of action, the client's insulin sales, those of its competitors and the medical visits.
Previous research was carried out to estimate the growth in the number of diabetics in Spain.
Another analysis determined and quantified the existence of delayed effects following international and national conferences.
With the help of mathematical models we were able to quantify more than 15 types of investments and recommend the optimal allocation of marketing investment for the brand.
The result was a 5,4% reduction in marketing investment, and sales growth of 14,1%.