A robust understanding of marketing channel effectiveness is vital in businesses across all industries, especially life sciences. Marketing Mix (MMx) studies help analyze the effectiveness and interplay of various channels to deliver meaningful insights about impactful customer engagement. But for insights of such scale to be adequate and relevant, MMx models must be systematic, scalable, and facilitated through an advanced, purpose-built platform.
This case study explores how an Axtria MarketingIQ™-based solution enabled a top-five global pharmaceutical company to harness MMx capabilities at scale. The platform-based solution helped the global MMx team structure and ingest channel-wise data across global markets, tailor MMx models to suit business requirements, normalize unsynchronized parameters, and optimize and plan for various investment scenarios.
The pharma company benefited from:
- 4%-8% increase in brand revenues across geographies.
- Clean and structured data for further analysis.
- The capability to analyze various investment scenarios to make informed decisions.
- A self-serve optimization tool for brand teams.
Additionally, Axtria provided promotional investment recommendations for various investment scenarios and how they would impact overall sales. These recommendations enabled the brand teams to understand the impact of changes on sales and choose the most appropriate scenario for execution.
Contact us at insights@axtria.com with any questions.
