Social listening provides much data and insights for marketers. However, this doesn’t always lead to actionable insights that dramatically impact a brands bottom line as it depends on the teams’ analysts to analyze the data and often this is till done with more traditional analytic approaches. However, by applying artificial intelligence to the universe of social listening data collected in these tools, alongside other relevant data for your brand, a more complete analysis that ties together brand digital marketing actions, and brand market share can be obtained for stronger marketing action direction and stronger results.
The client had invested in a social listening platform that provided much information and insights including items such as:
• How many mentions about a brand?
• What are the relevant trending topics?
• Who are the key authors on these topics?
• Which authors are most influential?
• Sentiment analysis: Is it positive or negative about your brand?
• Who is talking about your brand or therapy area?
• What they are saying?
• How they are saying it?
• How it has changed over time?
• What are the current topic trends?
However, the marketing team were hard pressed to justify the link between the information they were gaining from this, what they did in response to this, and the financial impact of this on the brand results.
They turned to Eularis to take their social listening data, and apply Artificial Intelligence analytics to it to uncover stronger actionable insights that they could directly link to the brands market share results and what they needed to do and change to impact their market share results. Eularis analytics allowed the client to allow answer questions such as:
• What is likely to happen to our market share and sales based on what we are seeing in the social media data today?
• What is likely to happen to our competitor sales and market share based on what we are seeing in the social media data?
• What variables in the data, or social media channels are linked most strongly to changes in share/sales for the brand?
• What variables in the social listening data are impacting brand choice?
• What variables in the social listening data are causing brand switch in this category?
• What does this show us we need to change in our digital marketing focus to have most impact on increasing market share and sales?
• Who are the real top 10 influencers that actually impact the brand results?
• What are the most important KPIs in social media data that link to our brand share results?
• How are they trending today? What does it mean for us?What brand share results were caused from digital marketing actions?
• How much brand revenue increase has digital marketing provided this time period?
The client was able to see which aspects of their social media could be tied to brand results in each country, and as part of this they were able to understand what influenced drug choice and switching behavior and what they needed to do to influence their brand results positively. After following the actions recommended from the analytics they were able to know what to do for stronger results and the brand was successful in growing share which was directly attributable to the digital marketing. In turn, the digital marketing team were also able to justify an increase in their digital marketing spend due to the direct causal relationship found between certain social media activities and the brand results.
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Part 1 of this article can be found here. www.eularis.com/blog/16-examples-of-successful-applications-of-artificial-intelligence-in-pharma-marketing-part-1 and Part 2 can be found here