Intelligence and analytics are hot topics these days, which makes this a great time to work in these fields. All too often, however, we read articles and see conference presentations that suggest having access to mountains of data or the latest computing platform with a catchy, human-like name will somehow confer magical, all-knowing powers to the brand or company that buys those things. Sadly, that’s not the case.
Instead, truly actionable intelligence and analytics – the kind that convince a customer to change her behavior – requires a data-rich, systematic approach combined with access to multiple channels and tools that reach customers when and where they’ll pay attention. This new, more powerful, more intelligent approach is what our smartest customers now demand, instead of one-off, single-shot campaigns. So that’s exactly what we’ve built, and what we’re now eager to have you learn more about through this article and future blog posts.
At MNG Health we’ve spent over a year working on this new marketing intelligence and activation system – which we call HCPiQ™ – because our customers and our audiences (the very people you’re trying to reach) told us what to build, and how to build it. Sometimes they did that directly, especially in the case of our biopharma clients, who told us they wanted more comprehensive and integrated solutions instead of one dimensional, one-off campaigns and tactics. For our HCP audiences, they told us what to build through their behaviors. We’ve been watching their actions for nearly 20 years now, learning from over 250 million interactions across many thousands of multichannel campaigns. We know what works, and what doesn’t. There is a stunning amount of information we have in the MNG Health knowledge vaults and we look forward to helping clients gain access to that.
However, we also knew that more was possible, so we figured out how to make our existing knowledge base and solutions even better. Marketers who work on consumer packaged goods (CPG) brands learned early on how to use data and analytics to achieve some amazing results, and there is much that can be learned from them about the power of data and analytics to design and execute marketing campaigns. Our new system brings together the best of both worlds, combining decades of experience in successful biopharma marketing to HCPs with the insights and analytics capabilities and lessons of the consumer marketing world. The result is an unstoppable level of marketing intelligence, combined with MNG Health’s proven channel expertise, now available to the biopharma marketing community. We’re excited to bring this to our customers, and we can’t wait for you to join us in the experience.
In this series of posts about analytics and insights, we’ll describe our general approach to marketing intelligence and how a properly designed marketing system becomes smarter over time. We’ll give examples from healthcare and consumer marketing to demonstrate what good looks like. We’ll cover everything from dealing with the effects of a big formulary win (or loss), down to the micro segmentations that are now possible within a single campaign, such as varying the channel, message cadence, and even the call to action based on what we know about small subsets of prescribers.
We’ll talk about predicting what a particular audience is going to want and need in terms of information and proof points, and about the ways a marketer can discover these things before they launch their campaign. Next, we’ll explore how a brand team can pursue both those prescribers who are just beginning to show interest in a brand (but haven’t yet “bought in”), while simultaneously taking decisive action to retain previously loyal customers who are now experimenting with new competitive products. In other words, we’ll talk about the challenges you face every day, that affect the growth of your brand and even the trajectory of your career. That’s a lot for a series of blog posts to tackle, but it’s what you deal with every day. So that’s what we’ll write about, even as we continue to enhance our systems and tools so that you can act on what you’ve learned.
In short, our goal with this series of posts about analytics and insights – and with the new marketing intelligence system we continue to create – is to help our clients know the “next best action” they should take, and to have the tools available to take that action, regardless of the marketing situation they face. We’d really like to hear from you about real-world challenges you’re facing, so email MNG Health’s analytics lead at Will.Potts@mnghealth.com. Then we can address some of those challenges as this series unfolds. Until then, we’re grateful for colleagues like you who are interested in creating and using the systems that will power the future of our industry. It’s nice to work with the best our industry has to offer, both in terms of systems and tools, and people.