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Freedman takes snapshot of current marketing challenges at eyeforpharma workshop

Posted on: 09 Dec 04
Freedman takes snapshot of current marketing challenges at eyeforpharma workshop

Summary

Now, more than ever, pharma marketing operations are being required to demonstrate that they are adding value and delivering measurable return on investment. With this in mind, Freedman International surveyed delegates who attended the eyeforpharma ‘Marketing ROI for Pharma’ conference using a unique self-assessment tool to find out, “How do you fare in terms of the overall effectiveness of your marketing operations?”


Now, more than ever, pharma marketing operations are being required to demonstrate that they are adding value and delivering measurable return on investment. With this in mind, Freedman International surveyed delegates who attended the eyeforpharma ‘Marketing ROI for Pharma’ conference using a unique self-assessment tool to find out, “How do you fare in terms of the overall effectiveness of your marketing operations?”


 


Marketing operations often fail to optimise their performance because it is not an area that naturally takes to process analysis and improvement initiatives. In the pharma industry, the nature of the projects, the interfaces with suppliers, the time-sensitive nature of campaigns and numerous dependencies mean it is difficult for marketing managers to demonstrate obvious benefits. Those companies who manage to effectively gear up their marketing operations to cut through the noise created by so many companies competing for share of voice, will be the ones who have identified where their areas of strength and weaknesses are and act on it.


 


A useful first step for any company seeking to improve their marketing ROI is to undertake a baseline assessment of their current operation – and this is what Freedman’s self assessment exercise delivers.


 


The five areas analysed are:


 


Strategy – the way marketing goals and objectives are set, how they relate to business goals and how these points are communicated amongst the team and other stakeholders


 


Process – the processes that exist in marketing operations and the way these are adopted and managed to deliver programmes and campaigns


 


Organisation – the roles key people have in marketing operations, how their jobs are described and the way their skills and competences are utilised


 


Technology - the way in which technology has been adopted to enable marketing operations to work more efficiently and effectively


 


Measures – the metrics used to determine success of campaigns, programmes and activities


 


 


The main findings from the Freedman assessment at eyeforpharma indicated that pharma marketing operations in general scored well for organisation (80% benchmark) and strategy (70% benchmark), but were found to be weak in their adoption of new marketing technology (30% benchmark). However, there does appear to be a lack of consistent opinion even within some companies where the perceptions of their efficiency and effectiveness differed between marketing colleagues. This highlights why such benchmarking exercises can only ever be indicative rather than authoritative.


 


Eyeforpharma delegates who attended the Freedman workshop at the conference were given the opportunity to highlight current marketing challenges they are facing.


 


The most common concerns from across the five areas included:


 


-          Lack of marketing technology strategy to effectively support channel marketing needs


 


-          A perceived divide between Sales & Marketing operations


 


-          Fragmented European marketing practices


 


By working towards practical solutions for problems such as these, marketing operations in the pharma industry can become more effective, cut operating costs and enjoy potentially greater market share.


 


In the area of “fragmented European marketing practices”, a case in point is GSK where Freedman enabled a $3.4million saving through a marcoms centralisation programme that focussed on best practice in collaterals management.


 


Freedman worked with GlaxoSmithKline (GSK) to develop recommendations that would cut production costs for marketing collateral across a range of 2,600 different pieces with a budget of around $19 million. Looking to bring improvements to GSK’s multi channel marcoms programme performance across the main channels that GSK were operating, Freedman evaluated elements including vendor relationships, print and fulfilment cycles, copy approval and sales force satisfaction. The resulting process changes resulting in savings for GSK of over $3.4 million in the first year. Freedman helped further reduce lead times involved in producing new promotional materials and developed a methodology to reduce collateral inventory wastage.


 


 


If you were unable to attend the conference but would like the opportunity to assess your marketing operations you can access the free self-assessment tool at:


 


www.freedmaninternational.com/eyeforpharma/assessment

Matt Adcock

Last updated on: 27/08/2010 11:40:18

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