ROI and Business Benefits of Omnichannel Customer Engagement
Benchmarking Digital Marketing ROI, Performance Measurement and Mobile Engagement
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Transcript of Benchmarking Digital Marketing ROI, Performance Measurement and Mobile Engagement
Best Practices, LLC Strategic Benchmarking Research & Analysis for CSL Behring
Page | 1
Best Practices, LLC Strategic Benchmarking Research & Analysis
Optimizing Biopharma Digital Marketing:
Insights to Improve Digital ROI, Performance Measurement,
Field Force Support & Mobile Engagement
Page | 2
Table of Contents
Executive Summary pgs. 3-10
Research Overview pg. 3
Participating Companies pg. 5
Key Research Findings pgs. 7-10
Optimizing Digital Operations pgs. 11-17
Digital Investment Trends & Hotspots
Insights for Reducing Costs
Enhancing Field Support & Impact
Improving Performance Measurement & Cross-Channel Attribution pgs. 18-35
Measuring Digital ROI for Key Activities
Effective Metrics, KPIs and MCM Attribution Approaches
Gathering Critical Customer Data & Developing Marketing Insights
Achieving High-Impact Mobile & Digital Health Engagement pgs. 36-43
State of Play for Mobile Engagement
High-ROI Programs
Mobile Tools for Educating Customers & Improving Health
Study Participant Data pgs. 44-49
About Best Practices, LLC pgs. 50-51
Page | 3
Research Overview: Objectives & Methodology
Elite healthcare organizations are investing more than ever in digital marketing to learn about their customers,
build better relationships, leverage effective online media, and grow revenue. This research examines a host of
key operational benchmarks required to achieve best-in-class performance in digital marketing in the healthcare
sector, and foster a stronger digital culture throughout the organization.
Topics Covered:
Research
Methodology
Research
Overview
Improving Digital Operations:
Reducing Digital Cost
Improving Sales Force Effectiveness
Assessing Performance, ROI, and
Use of Data and Analytics:
Measuring Digital ROI
Effective Performance Metrics
Top Attribution Approaches Used for
Measuring Value
KPIs for HCP Engagement
Mobile Engagement & Digital Health:
Use of Mobile Apps & Their Role in
Decision Making
Use of Mobile Apps in Digital Health &
Digital Medicine
Best Practices, LLC engaged 31 digital
marketing leaders at 24 companies
through a benchmarking survey
instrument.
Research participants work in such
functions as digital, multichannel
marketing, business excellence and
intelligence, marketing, and sales.
This benchmarking deliverable is part of a
series of Best Practices’ studies designed
to examine Digital Marketing performance
excellence in the healthcare industry.
This study will provide critical insights into
how savvy biopharma digital marketers are
using new tools and tactics to reduce cost,
raise sales force effectiveness, measure
performance and ROI for key channels, and
critical trends in mobile customer
engagement.
Page | 4
Data Segmentations & Acronyms Used in this Study
Data Segments:
Large Company: Annual revenue of > $10
billion (US) in 2015
Medium & Small Company: Annual revenue
<$10 billion (US) in 2015
To help distill the most precise and relevant benchmark insights, several data segments were used in
this study. Definitions of these data segments, as well as other research terms and acronyms used
throughout this research, are provided below.
Key Terms & Acronyms:
DM – digital marketing
EHR – electronic health record(s)
HCP – healthcare provider
KPI – key performance indicator
MCM – multichannel marketing
ROI – return on investment
SEO – search engine optimization
SM – social media
Page | 5
Universe Of Learning: 24 Companies Participated in Study
This study engaged 31 digital, multichannel marketing and other commercial leaders from 24 leading
healthcare organizations. Nearly 70% of participants serve at the level of director or above.
Benchmark Class:
Page | 6
Key Findings
Few of the key findings and insights that emerged from this study:
Driving revenue growth is #1 objective for healthcare digital marketers: According to surveyed
digital marketers, the top-ranked goals to ensure to the long-term success of the digital marketing
function are to: 1) drive revenue growth; 2) raise customer engagement and satisfaction; and 3)
increase customer access and marketing reach. Though important, objectives like raising value beyond
the pill/product, growing internal digital capability, lowering total marketing costs to the organization and
leading product strategy are all more marginal goals.
Top-rated digital marketing performance metrics by effectiveness, per benchmark ratings,
include:
Branded websites: Conversions
Non-branded websites: Engagement
Mobile: Engagement
SEO & SEM: Volume driven
Email marketing: Reach
HCP campaign measurement: 1) Proportion of HCPs using digital channels vs. offline
channels, 2) Churn rate, 3) Customer satisfaction / net promoter score
Social media platforms: 1) Conversions, 2) “Influencer” data, 3) Clicks from shares
Biopharma mobile footprint now includes regularly updated physician and patient applications:
Close to two-thirds of benchmark DM teams have produced physician-oriented mobile applications, with
59% having also created patient-oriented apps and 23% creating apps for other customers (e.g., payers,
KOLs). Mobile apps for core customer groups, sustained by regular updates to ensure relevance, have
achieved solid uptake, with a high percentage of leading apps having succeeded in garnering more than
1,000 downloads. Digital health apps that may require FDA approval have been launched by 15% of
companies; electronic health record-related apps are more rare (4%).
Page | 7
Q. How important is each of the following objectives to the future of your digital marketing function?
(Please rank order)
Top-Ranked Goals for Digital Marketing Function:
The top-ranked goals essential to the long-term success of the digital marketing function are to: first,
drive revenue growth; second, raise customer engagement and satisfaction; and third, increase customer
access and marketing reach. Lowering total costs and leading strategy are more marginal goals.
Driving Revenue Growth Is #1 Objective for Healthcare Digital Marketers
145
139
116
99
98
66
61
Drive revenue growth & product uptake (traditionalproduct-based business model)
Raise customer engagement and satisfaction
Increase access to customers & marketing reach
Enhance value beyond the pill (service-basedmodel)
Grow digital capability throughout theorganization
Lower overall marketing costs
Lead product strategy
N=26 Note: Score is a weighted calculation. Items ranked first are valued higher than the following ranks, the score is the sum of all weighted rank counts.
27%
3%
17%
3%
7%
0%
0%
% respondents
ranking #1
#1
#2
#3
#4
#5
#6
#7
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Q. What level of ROI have you been able to measure for the following digital activities in your company?
ROI for Digital Activities:
Though few companies consistently achieve high ROI across the board, almost half of companies can
point to some level of “hard ROI” (i.e., revenue growth or cost reduction) in SEO programs, online ads,
field support, analytics & forecasting, and data assimilation. Email marketing (72%), websites (65%),
content (64%), and mobile (52%) all produce some ROI for DM teams, but often only anecdotally.
Highest ROI Levels Come in SEO/Online Ads & Field Support
% respondents N=26
4%
4%
4%
4%
13%
12%
8%
4%
20%
29%
40%
20%
19%
33%
40%
28%
36%
28%
25%
16%
44%
42%
21%
16%
36%
8%
4%
4%
8%
8%
4%
4%
4%
8%
52%
44%
38%
32%
28%
31%
29%
28%
20%
Social media engagement
Mobile
Data gathering, assimilation & CRM systems
Analytics, forecasting activities & predictive modeling
Digital content & collateral building
Websites
Field support (sales, MSL teams)
SEO & online advertising
Email marketing*Highest combined “hard” + “soft” ROI
*Highest combined
“hard” ROI only
High ROI (revenue growth
or cost reduction) Some ROI (anecdotal
evidence) Not Clear
Zero ROI
Some ROI (revenue growth
or cost reduction)
Page | 9
Q. How effective are each of the following performance metrics for assessing social media impact?
Effective Social Media Metrics:
After “conversions” (which 46% deem highly effective), tracking “influencer” data is seen as a critical
metric to assess strong performance across social media communities. “Share rate,” which measures
the degree to which users find content compelling enough to highlight, is rated at least somewhat
effective by 62% of benchmark respondents.
“Influencer” Data Is 2nd-Most Effective Social Media Performance Metric
% respondents
46% 35%
19% 12% 8%
12%
19%
35% 50% 46%
8% 8% 4%
35% 46%
38% 38% 42%
Conversions/ sign-ups/ downloads
Influencer data(profiles/ types who
drive others tointeract or convert)
Clicks resulting fromshares
Share rate Shares / likes
Highly effective Somewhat effective Ineffective NA (don’t use)
N=26
Page | 10
Engagement Channel
Branded Websites
Non-Branded Websites
Email Marketing
Social Media
HCP Engagement
Best Digital KPI to Standardize*
Best KPIs to Standardize across Brands: Conversions, Customer Satisfaction Score DM teams who standardize KPIs across the brands they support show better able to identify, deliver and
measure value. Based on the usage and success ratings of high-performing companies, the following set
of metrics provide a starting point for effectively standardizing performance measurement in each of the
following engagement channels.
*Based on top-rated
performance metrics
according to companies
with partial or full
standardization of
digital KPIs across
brands
Page | 11
Q. Which of the following mobile app program milestones have you achieved in the past year?
State of Play for Healthcare Mobile Applications:
Close to two-thirds of benchmark DM teams have created physician-oriented mobile applications, with
59% having also created patient-oriented apps and 23% creating apps for other customers (e.g., payers,
KOLs). A high percentage of those who have launched mobile apps have succeeded in garnering more
than 1,000 downloads. Digital health and electronic health record-related apps are currently rare.
For >50%, Mobile Footprint includes Physician & Patient Apps with Regular Updates
% respondents N=27
4%
15%
23%
42%
59%
59%
63%
100%
96%
85%
77%
58%
41%
41%
37%
Created a point-of-care app that complemented Medscape,Sermo or similar physician resource
Created a point-of-care app that complemented an ElectronicHealth Record system or Personal Health Record
Created a “digital health" app that required FDA approval
Designed a mobile app for other customers
Garnered more than 1,000 downloads for a single app
Designed a mobile app for patients
Updated an app regularly
Designed a mobile app for physicians
Yes No, never
Page | 12
Q. Please provide the following information, which will be used for classification purposes and to ensure that you
receive a copy of the full study deliverable.
Participant’s Job Title:
This research features quantitative and qualitative insights from a wide range of leaders from the digital
marketing function. More than half of respondents serve at the VP or director level, or as heads of digital
units.
Universe of Learning: Insights Drawn from Host of Digital Leaders
N=30
*Other: Lead Marketing
Operations (2)
AVP/SVP/VP 10%
Director/ Global Director
23%
Associate/Executive Director
17%
Global Head/Head 17%
Sr. Manager/ Manager
20%
Other 13%
*
% respondents
Page | 13
Best Practices®, LLC is an internationally recognized thought leader in the field of best practice
benchmarking®. We are a research, consulting, benchmark database, publishing and advisory firm that
conducts work based on the simple yet profound principle that organizations can chart a course to superior
economic performance by leveraging the best business practices, operating tactics and winning strategies of
world-class companies.
6350 Quadrangle Drive, Suite 200
Chapel Hill, NC 27517
(Phone): 919-403-0251
www.best-in-class.com
Learn More About Our Company: