Why Pharmaceutical Marketers Ignore ROI You Want ROI? You’re Not Ready for ROI!
Pharmaceutical marketers are being asked to more thoroughly prove the effectiveness of their programs by quantifying exactly which messages impact prescribing the most, what the return on each sales and marketing program is, and what optimal combination of programs (and budgets) will deliver maximum prescribing (market share) results. Thus, we often hear speakers affirm the importance of “Return on Investment” (ROI) in their presentations at conferences relating to sales force effectiveness and marketing. However, there is often scant evidence that ROI has been effectively measured.
There are many reasons why pharmaceutical marketers may not be effectively measuring ROI. This article discusses several of these reasons and includes feedback and opinions from several experts who agree that all marketers – and pharma marketers in particular – have a problem with traditional ROI analysis.
- Why Marketing Performance is Important to Measure
- If You Can’t Define It, You Can’t Measure It!
- What Are Marketers Measuring? Some ANA/MMA survey results
- Pharma Must Measure Success with Patients
- (DTC) ROI is Alive and Well!
- Marketers Lack Financial Accountability
- Lack of Critics
- Marketing is Art, ROI is Science
- The Problem with Agencies and Awards
- Do Large Profit Margins Make ROI Analysis Unnecessary?
- What’s the ROI of Online Marketing?
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Issue: Vol. 7, No. 6: June/July 2008
Word Count: 6100
- Direct-to-Consumer (DTC) Advertising & Marketing
- Sales Force Effectiveness
- Physician Marketing & Promotion
- Strategic Marketing & Planning