Create a Winning HCP Promotion Strategy and Drive Sales

Are you churning out promotions hoping for something to stick? Stop the guesswork.

Learn how to optimize personal and non-personal promotional investments to Healthcare Professionals (HCPs) using cutting-edge channel optimization methods.

IQVIA uses a combination of data mining, machine learning and patent-pending AI algorithms to help you:

  • Pinpoint the right HCPs
    at the right time.

  • Measure promotional and sales impact within each channel and tactic.

  • Increase, decrease or redirect marketing investment to continuously optimize promotional ROI.

HCP Targeting

When planning HCP promotions, accurate targeting is critical to ensuring efficient personal and non-personal promotional investment.

Impact

Target the right HCPs to:

  • Focus promotional investment on key prescribing decision makers as well as HCPs who influence a broader network.

  • Shorten the path to Rx by delivering the right promotions at the right time.

  • Quick and efficient target identification.

How it Works

The IQVIA Promotional Mix solution helps you achieve more accurate HCP targeting by generating insights from multi-dimensional physician profiles including patient potential, degree of innovativeness and network membership, etc.

Input

IQVIA Channel Dynamics combined with Xponent data, other healthcare data sources and all available activity data.

IQVIA Advantage

Apply machine learning techniques to quantify impact and relative target profile appeal.

Advanced analytics leverages complex models to identify important targets that would have been easily overlooked by traditional methods.

Output

Multi-dimensional physician profiles that identify high-value targets.

10 Rx
10 Rx
10 Rx
10 Rx
Network 1
Network 1
Network 2
Network 3
Dynamic
Static
Dynamic
Static
Innovator
Follower
Follower
Follower

Results

A mid-sized pharma company who wanted to reach HCPs was not optimizing face-to-face visits by their sales force.

Using IQVIA's Promotional Mix solution, the Client was able to reach underserved HCPs through new channels to achieve a 40% increase in demand.

Channel Preference

Multiple promotional channels are often available, sometimes with an unknown return on investment. Understanding competitor promotional benchmarks can play a significant role in your positioning and strategy.

Impact

Improve your promotional channel strategy to:

  • Focus on the channels that work best for a given market or therapeutic category.

  • Optimize investment to maximize return.

  • Improve your competitive position.

How it Works

The IQVIA Promotional Mix solution helps you stay competitive and ensures the appropriate channel mix to drive sales.

  • What are the most appropriate channels in which to participate?
  • Are better-performing competitors using channels differently and how should you respond?
  • Should specific channels be discontinued?
  • What is the most appropriate effort to be employed in specific channels as well as overall?

Input

IQVIA Channel Dynamics + Xponent prescription data and all available activity data.

IQVIA Advantage

Apply machine learning techniques to quantify impact and relative target profile appeal.

Advanced analytics leverages complex models to identify important targets that would have been easily overlooked by traditional methods.

Output

Channel Mix and Content Optimization: Who, When & What to promote across channels.

Maximize return on MCM investments.

ROI per brand per channel provides insights into the effectiveness of your own activities as well as a view of competitive activities.

Results

A top pharma company in the UK wanted to conduct promotional impact analyses across channels to maximize return.

Using IQVIA’s Promotional Mix solution, the Client learned how to adjust channel investments to gain a 10-15% increase in sales while maintaining same budget.

Refinement

To stay competitive long term, it’s important to monitor your promotional mix over time and refine future promotions by channel.

Impact

Optimize ROI over time to:

  • Ensure investment is going to the right targets using the right channels.

  • Maintain competitive position in the marketplace and pivot in response to market factors.

  • Optimize future promotional budget based on performance.

How it Works

IQVIA uses near real-time results and advanced analytics to respond to changing market dynamics and anticipate future market trends.

Input

Real-time Rx data + Promotional investment history.

IQVIA Advantage

Apply machine learning techniques to help make real-time course corrections and maximize ROI.

Channel Promotions
Baseline Sales
Promotional Sensitivity
Incremental Sales

Output

Refined and efficient multichannel marketing campaigns that utilize the following:

  • Current contribution of your promotional channels to sales
  • Incremental ROI

Brand A
Brand B
Brand C
Brand D
Brand E

Results

A top pharma company benefited from regular refinements to multichannel promotional strategy and investment.

Using IQVIA's Channel Refinement solution, the Client was able to optimize channel strategy to increase sales in a specific market by 30% over an 8-week period.