In this report, we unfold the transformation of pharma sales and marketing. In today’s dynamic landscape, life sciences companies navigate the complexities of multiple promotional channels and a rapidly evolving industry. The key challenge they face is identifying which channels drive the most significant returns on investment.
At Axtria, we’ve spent over a decade partnering with life sciences companies of all sizes, providing us with unique insights into the struggles they encounter. The traditional Marketing Mix (MMx) study, a popular method for evaluating promotional channel effectiveness, has limitations that can hinder the ability to scale and adapt to various business needs.
- This report dissects the challenges associated with traditional MMx studies, from infrequent and inadequate analytics to unrefined modeling and complex channel attribution.
- We delve into the urgency of democratizing marketing analytics, making it accessible to seasoned data scientists and novice data analysts.
- Furthermore, we highlight the need to institutionalize knowledge within organizations to avoid the loss of critical business expertise.
The million-dollar question we explore is how life sciences companies can successfully scale MMx solutions to optimize their marketing strategies. Additionally, we detail the gains that life sciences companies can expect from implementing product-based MMx solutions that can drive significant improvements in productivity and promotional returns. Join us in discovering the power of productized marketing and the path from chaos to cohesion.
Contact us at connect@axtria.com with any questions.
