3 Questions Biopharma Marketers Need To Ask About Commercial Content Effectiveness
The increasing demand for commercial content across various channels creates complexity and budget pressure for biopharma marketing teams. But creating more content is not always the answer. Last year biopharmas developed 20% more content, but 77% of that content was rarely or never used by field teams. Better visibility into content utilization and effectiveness can make it easier to prioritize spending on the right assets — those with the highest impact on HCP engagement that deliver the most return on investment.
However, many marketing organizations don’t have a complete picture of content usage or performance. Some don’t have access to the necessary data to be responsive, and for those who can access data successfully, the lack of a feedback loop makes it difficult to understand what’s working and what’s not. Therefore making clear, data-driven decisions about content production and budget allocation is challenging.
Improving commercial biopharma content effectiveness
The best way to start improving your content effectiveness is to identify what’s missing from your current measurement process and outline next steps. For some, this may be working with a partner, purchasing tools, or even building something in-house. Whatever path you choose, the result should allow you to leverage the right data – in a timely manner – so you can prioritize spending and get the greatest return on investment. Here are three key questions to ask.
- Is my data helping the field team drive more personalized conversations with HCPs?
Having visibility into what reps are sharing – or not sharing – is important since reps who share digital content drive 2.5x new patient starts over reps who don’t. While nothing can replace reps engaging directly with HCPs, understanding what content HCPs are consuming during or outside these interactions can drive more productive conversations that lead to better outcomes. In addition to the types of content, understanding where HCPs are consuming content is also key. Bringing these data points together can help your team drive content to the right channels and provide the opportunity for deeper customization.
- Do I have the right data to make informed decisions about distribution channels, and how content is used in those channels?
Often, content data and channel activity data are disconnected. While most marketers know what channels their sales teams are actively using, they may need insight into what content is being utilized and how the content is performing. There must be synergy between content data and channel data to make informed decisions. Without it, there is no way to measure content promotional response or identify content with limited value. More knowledge about customer channel preference and content engagement can also improve your omnichannel strategy and result in more efficient spending to reach them.
- Do I have gaps in my data model?
Gaps in your data model – especially concerning accessibility and relevance – can prevent teams from getting the necessary information in time to make decisions. Identifying and addressing these gaps will provide more tangible and insightful data. When looking at your data model, make sure to evaluate the following areas:
Is my data model accessible to my marketing team? Quick and easy access to your data model helps your team use performance feedback to create relevant, engaging assets for the audience.
Am I getting the right metrics? If your data model doesn’t measure your most valuable performance metrics, specifically prescription lift, you cannot accurately assess whether your content is contributing to your goal, or help you pivot your strategy if it’s not.
Does my feedback loop provide real-time and relevant data? Agile marketing depends on data and analytics. To create and distribute content efficiently, effectively, and on budget, your data model must provide a complete feedback loop. This feedback loop should establish metrics, measure them, and feed that information back to your team in the form of insights. By doing so, every time you create a new piece of content, it is informed by the successes – and failures – of previous efforts.
Accessing actionable content metrics quickly and efficiently is not easy, and many companies will benefit from working with an outside partner. A strong partner will lead the evaluation process, analyze the findings, and help you set the foundations for successfully measuring content effectiveness. They will continue working with you to ensure you have the right data to support your strategy, stay agile, and make smarter business decisions.
When choosing a partner, look for expertise in the end-to-end content lifecycle, from medical, legal, and regulatory (MLR) review to field execution. Ask if they have additional expertise, including access to industry best practices and peer benchmarks. This approach will ensure that your insights are relevant and actionable.
Learn how Veeva Business Consulting can help your marketing organization be more agile by delivering actionable data, timely and relevant insights, and content strategy support.