I know I have blogged about this before, but the topic keeps coming up on a daily basis in our agency. And, when it does, or when we find our toes held to the fire, we scramble . . .
One of the things this article from MM&M talks about, and it’s a good reminder, is the need to establish calculations and a clear optimization plan before a campaign launches so that when results comes in you can deal with them rather than have an academic debate about them. We know we’re going to get questioned, so let’s be prepared and really understand what we’re measuring and how we’re going to measure it.
This article is lengthy but good. Here’s an excerpt: “One of the most critical elements of a measurement platform is the ability to have analyzed data on a consistent basis,” he says. “The best practice combines both quality and quantitative measures, such as awareness, likelihood to present to a physician and, ultimately, conversion to a brand. Once these measures are in place, marketers need to determine compliance rates. Patient longitudinal is best here, but takes too long to read. Therefore, online and offline surveys are needed. Pfizer and Wyeth do this best . . . Focusing on the brand objectives is critical with determining patient lifetime value (one year and three values). “From a [relationship marketing] perspective, the biggest barrier is having management look at more than a one year break-even point.”