The New Market Frontier
New segmentation techniques might just be the way to uncover the next growth opportunity for brands. Audience segmentation has been around forever and is used by most companies to identify those consumers who are the right fit for their brands — and companies are spending big bucks for these insights. As closerlook’s David Ormesher points out in this month’s Forum, Netflix offered $1 million to anyone who could improve its movie recommendation targeting by 10%. It took three years, 100 million customer records, and people from 184 countries before a team claimed the prize. To read more from Mr. Ormesher, as well as the other thought leaders interviewed for this article, please turn to Customer-Centric Segmentation. Leveraging new insights into where, how, and by whom a brand is being prescribed — and where untapped potential still exists — is the key to unlocking full commercial potential, according to IMS Health. Thanks to our friends at IMS, particularly, Ron Brand, senior principal, commercial effectiveness services, the following approaches address some ways brand managers can use targeting and segmentation to rejuvenate a brand and stimulate new growth.
1. Understanding treatment decisions hones messaging and field force activities. With a better understanding of how and which new patients are being prescribed a brand, marketers can right size and accurately deploy the field force as well as fine tune messages to reach physicians who are most likely to grow the product’s prescription volume.
2. Managed care insights enable optimal contracting and greater market access. Prescribers can be indexed based on whether they have high, medium, or low access to a brand by analyzing data that show the brand’s formulary position and plan co-pay requirements. Using this knowledge, call plans can be adjusted to engage more medium-volume prescribers who have greater access to a given brand and shift resources away from high-volume prescribers who have low access to the drug.
3. Understanding the multiplier effect: a new measure of physician potential. By quantifying the full potential of a physician’s impact beyond the prescriptions directly attributed to him or her, marketers gain critical insights that pinpoint the physicians who should be prioritized for personal and nonpersonal promotion given their “multiplier effect" on followers’ prescribing behaviors. This information helps to drive operating efficiencies and better informs an array of business decisions, including physician profiling segmentation and targeting, resource optimization and deployment, and managed care pull-through activities.
4. Creating segmentation beyond physicians for sustaining brand growth. One common element — patient-centric insights — is fundamental to all. By leveraging de-identified patient-level data to differentiate prescribing influences and behaviors, sales and marketing efforts can be more precisely channeled.
Publisher Lisa Banket Editor Taren Grom Creative Director Marah Walsh Managing EDitor Denise Myshko Senior EDitor Robin Robinson features EDitor Kim Ribbink Contributing Editor Carolyn Gretton design associate Ariel Medel national account managerS Trish Kane Cathy Tracy WEBCAST?NETWORK?PRODUCER Daniel Limbach CIRCULATION Assistant Kathy Deiuliis Copyright 2011 by PharmaLinx LLC, Titusville, NJ Printed in the U.S.A. Volume Eleven, Number Eight PharmaVoice (ISSN: 1932961X) is published monthly except joint issues in July/Aug. and Nov./Dec., by PharmaLinx LLC, P.O.?Box 327, Titusville, NJ 08560. Periodicals postage paid at Titusville, NJ 08560 and additional mailing offices. Postmaster: Send address changes to PharmaVoice, P.O. Box 292345, Kettering, OH 45429-0345. PharmaVoice Coverage and Distribution: Domestic subscriptions are available at $190 for one year (10 issues). Foreign subscriptions: 10 issues US$360. Contact PharmaVoice at P.O.?Box 327, Titusville, NJ 08560. Call us at 609.730.0196 or FAX your order to 609.730.0197. Contributions: PharmaVoice is not responsible for unsolicited contributions of any type. Unless otherwise agreed in writing, PharmaVoice retains all rights on material published in PharmaVoice for a period of six months after publication and reprint rights after that period expires. E-mail: [email protected]. Change of address: Please allow six weeks for a change of address. Send your new address along with your subscription label to PharmaVoice, P.O. Box 292345, Kettering, OH 45429-0345. Call us at 800.607.4410 or FAX your change to 937.890.0221. E-mail: [email protected]. Important notice: The post office will not forward copies of this magazine. PharmaVoice is not responsible for replacing undelivered copies due to lack of or late notification of address change. Advertising in PharmaVoice: To advertise in PharmaVoice please contact our Advertising Department at P.O.?Box 327, Titusville, NJ 08560, or telephone us at 609.730.0196. E-mail: [email protected]. Volume 11 • Number 8 Their Word Denise Myshko Managing Editor A windpipe grown from stem cells is just the beginning of exciting new treatments that aim to repair damaged tissue. Robin Robinson Senior Editor Customer-centric segmentation has gone micro; the industry can now better pinpoint patient and physician behaviors. Kim Ribbink Features Editor As Latin America’s key influencer across the region, Mexico is a strong and growing pharmaceutical market. Carolyn Gretton Contributing Editor Personalized-medicine-focused clinical trials are challenging data managers to develop proactive, dynamic CDM strategies. Coming in October > Life-Cycle Management > Patient Education > Epigenetics > Emerging Market — South Africa > Showcase Feature — Marketing Send your letters to feedback@pharmavoice.com. Please include your name, title, company, and business phone number. Letters chosen for publication may be edited for length and clarity. All submissions become the property of PharmaLinx LLC.
