LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its recent success story that examines how marketing mix modeling study for a leading US pharma company resulted in better marketing ROI
The success story also offers comprehensive insights on:
- How synergy analysis helped the client to analyze the direct and indirect impact of media channels on the ROI generated
- Why a detailed analysis of campaigns is crucial to understand the exact ROI generated at the granular level
- How marketing mix modeling helped the client to generate improve ROI across all media channels
Request a FREE proposal to gain comprehensive insights into the role of marketing mix modeling in the pharmaceutical industry.
As analyzing the impact of marketing activity across distribution channels, media expenditures, and sales becomes more difficult, top pharmaceutical companies are increasingly turning to marketing analytics to ease the process. Marketing mix modeling is gaining immense popularity as this method quantifies the impact of marketing strategies based on a pharmaceutical company’s past marketing expenditure. The goal of this study was to quantify the contribution of each media channel on incremental sales (NRx) and the ROI, as the pharmaceutical company lacked visibility on marketing ROI.
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The Business Problem: In this digitally inclined world, every marketing channel needs to work parallelly to impact consumer decisions, top pharmaceutical companies must identify channels that help them better connect with their customers in order to drive revenue. To do so, US pharma companies need to adopt a comprehensive approach to marketing mix modeling which can help the US pharma companies to gain an accurate read on the ROI of their marketing investments.
According to Quantzig’s marketing analytics experts, “Marketing mix modeling is a powerful tool used to predict future media investments and understand the marketing ROI. Based on the historical marketing data and performance of top pharmaceutical companies, it proves to be highly beneficial, provided the historical data collected is accurate.”
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How Marketing Mix Modeling Helped the Pharmaceutical Company
1: Reduced marketing cost by 60%
2: Increased market share by improving sales
3: Generated better incremental profits
The growing popularity of marketing analytics among the US pharma companies have made it crucial for businesses to leverage marketing mix modeling to better understand the trends within the pharmaceutical industry. Quantzig’s marketing mix modeling solutions for the pharmaceutical industry focuses on helping top pharmaceutical companies improve marketing ROI and drive profitability using accurate data-driven insights.
Get more information to gain comprehensive insights into the role of marketing mix modeling in the pharmaceutical industry:
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal