Data Driven Insights
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The goal of this adapt and apply solution is to identify key drivers of adoption for pharmaceuticals to design smarter and more effective marketing campaigns by using regression models in Dataiku. More details on the specifics of the solution can be found on the knowledge base.
Like any business, pharmaceutical companies depend on strategic marketing campaigns to increase the reach and knowledge of their products and ultimately boost sales. Modern marketing benefits from the usage of multiple channels of messaging to inform health care providers (HCPs) in a variety of ways.
But wait, what are we exactly talking about?
We need to differentiate the use of multiple channels in a siloed manner vs. the true omnichannel marketing which consists in targeting prospects/clients (here, HCPs) with the right channel (emailing, phone calls, online ads), with the right content (product vs. informative) and at the right time. To do so, pharmaceutical companies need to answer the following question: what are the best marketing channels to engage with each HCP while optimizing marketing spend?
Data and modeling are key to answering this question. Using historical data – sales, marketing, HCP preferences, etc. – to forecast future marketing performances generates many benefits. On one hand, it improves the HCP relationship with the brand, by fostering trust, ensuring adoption and loyalty, creating a close to 1:1 relationship. On the other hand, it enables pharmaceutical companies to truly assess the performances of marketing channels and how they interact with each other. Overall, both the HCP experience and the marketing efficiency are improved.