To maximize speaker program ROI, you need to optimize attendance. Only a fully integrated platform can enable this.
Speaker programs and similar meetings play an important part in the branding and product marketing mix for any pharmaceutical company and their representative agencies. They remain an effective way to communicate the complexity of new products or provide updates on appropriate treatment protocols, reaching multiple HCPs at a time and place convenient for them.
However, if an insufficient percentage of invitees actually attend these meetings, then they become an inefficient use of the rep’s time and company money. Historically, predicting meeting attendance has been a hit or miss effort, dependent largely on the estimation of experienced field reps based on their knowledge of the local area and its target groups.
At Pharmagin, we often work with agency and pharma partners looking to tackle specific campaign issues like this. Can we better predict meeting attendance and identify meetings that have a high probability of cancellation? Doing so would allow the agency to identify and address any problem areas before incurring expensive cancellations or low yielding meetings.
In recent client engagements, Pharmagin’s analytics team have used our uniquely integrated data platform to evaluate which contributing factors correlate best with ‘unsuccessful’ meetings (defined as meetings that did not meet a particular attendance threshold or were ultimately cancelled). These factors may include meeting timing and location, speaker and content, number and type of attendees, meeting frequency, etc. Pharmagin then compared these correlation results to a test data set to confirm that they were indeed statistically significant, and delivered an insightful, actionable report to our client.
With this information in hand, agency planners were able to predict program performance more accurately and adjust accordingly. This directly drives a measurable improvement in program ROI, that Pharmagin’s platform can report year on year.
This is just one of the many ways that Pharmagin’s integrated platform can provide meaningful reporting to drive continual improvement in speaker program efficiency. If you’d like to find out how we could help your programs perform better, contact us any time at email@example.com
Pharmagin is the leader in speaker program automation. We have created a customizable web-based platform solution to reliably manage the compliance and logistics of speaker programs for medical communication agencies and life sciences companies. The Pharmagin platform takes an innovative, data-centric approach to solve the challenges facing speaker program planners at the agency and pharmaceutical company levels. Our team has over a decade of experience in SaaS technologies and clients rely on us to be innovative, agile, and responsive. As a result, Pharmagin has successfully helped manage over 20 product launches for major life sciences clients and their medical communication agencies. For more information or a demo, contact us on firstname.lastname@example.org.