The client is a Top 10, global pharmaceutical company, employing 50,000+, with over $40B in annual revenues.
Client’s Need and Challenges
- The client is looking to improve the effectiveness of its local/regional HCP and patient-centric promotional/marketing channels to enhance their commercial outcomes. The objective of the engagement is to identify, on a quarterly basis, which of the current channels and associated tactics are driving HCP and consumer behaviors across identified US regions.
- The challenge to EXL is to leverage the client’s internal and external data assets, including sales performance, customer affinity, multi-channel engagement, etc., run against sophisticated advanced analytics models and machine learning algorithms.
- The end goal is to run optimization models and recommend the optimal path forward to continue to grow each of the client’s defined regions.
Our Approach and Methodology
EXL will employ a two-stage approach to configure and build a Marketing Mix Model to identify the impact of HCP and consumer marketing channels and associated metrics, to determine the drivers of success across the client’s marketing regions. The models developed in stage one will be used as a baseline in the stage-two model, the output of which will aid budget allocation/marketing campaign design decisions for the business stakeholders.
EXL’s approach for Marketing Mix Modelling includes:
- Reviewing the history and assessing the quality of all HCP and consumer data provided by the client.
- Conducting descriptive analysis, identifying what has worked in the past regarding growth in each identified region.
- Leverage predictive forecasting models to determine what could continue to work in growing each region, and what may not be working
- Delivering prescriptive recommendations about campaign strategies and budget allocation decisions to be made on a quarterly schedule.
Anticipated Results & Utility
EXL’s deliverables include:
- A Tableau dashboard that can be used by the client’s business stakeholders to run multiple investment/campaign planning scenarios and assess their impact on brand success indicators.
- An executive presentation containing the HCP and Consumer data summaries, Marketing Channels’ impact/ROI assessments, and recommendations for budget allocation/campaign planning.
Written by EXL Health Team