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Addressing Patient Compliance: Targeted marketing driving a shift in focus from acquisition to retention
Datamonitor, Aug 2004, Pages: 140
Intense generic competition and longer development times are reducing the time available to maximize revenues from a pharmaceutical brand. These factors, combined with spiraling promotional costs and decreasing ROI from physician detailing, leave companies seeking alternative means of boosting revenues. We believe the result must be a shift in focus from patient acquisition to retention.
Scope of report:
Primary research findings from surveys with senior marketing and corporate pharmaceutical executives from 11 companies in the US, Europe and Japan
Case study analysis of the use of DTC advertising, direct-to-patient communication, and CRM to maximize compliance throughout the product lifecycle
Evaluation of the patient and therapy area specific factors contributing to patient non-compliance
Discussion of the costs associated with poor compliance with therapy, to both the patient and the pharmaceutical industry
Highlights of report:
Up to two-thirds of patients are not fully compliant with prescribed medical therapies, costing the pharmaceutical industry up to $30 billion a year in lost revenues.
Companies must identify factors dictating the level of non-compliance with a particular brand, and feed this information into a tailored strategy to address these issues. Results of our Patient Compliance Survey 2004 support the idea that tailored, personalized, communication with patients is an important tool in compliance initiatives.
Identification, through CRM, of the factors driving patient perception of therapy is an important first step in developing a compliance boosting strategy. However, our analysis suggests, that of the pharmaceutical companies using CRM, only 25% currently apply the system to address patient compliance through targeted marketing.
Reasons to Purchase:
Formulate the optimum promotional strategy for a brand suffering from low patient compliance
Benchmark your compliance targeted DTC efforts against competitors campaigns
Identify the key drivers of non-compliance within your marketed portfolio and pipeline
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