Boosting sales and effective budgeting for a big drug maker with presence in EU and US markets.
A Global pharmaceuticals company with strong presence in the US and EU wanted to understand the ROI of their different marketing campaign in terms of increasing sales of their blockbuster drug.
We extracted data from customer's internal system on sales of products at pharmacy level and overlaid the same information with marketing campaign data for all marketing programs targeted at pharmacy level. External third-party syndicated database was used to compare the sales of the blockbuster drug to its nearest competitors in the same local geography. Entire dataset was analysed using regression methodology (time series cross-sectional) thereby enabling us to measure the relative contribution of each marketing program. Using relative contribution as well as costs incurred for each program, ROI for each campaign was calculated. The analysis also suggested the client to optimize the Omni-channel marketing budget to ensure optimal amount of marketing budget is spent across channels, regions and brands.
The client was able to save 6% of their marketing budget and at the same time improved their revenue by 7% which ran into multi-million dollars.