Press Release
TGaS® Advisors Launches Internet Performance Benchmark for Optimizing Online Pharma Marketing, Comparing Results Across Brands
E-Marketers Can Take Online Quiz to Gauge “Chaos Factor”
EAST NORRITON, PENN., July 30, 2008 – Measuring the effectiveness and impact of a pharmaceutical company’s online marketing investment is a tough challenge in today’s changing environment. TGaS® Advisors, the only comprehensive benchmarking company focused on pharmaceutical commercial operations, has responded to the challenge with the introduction of a fact-based Internet Performance Benchmark. The benchmark enables pharmaceutical companies to compare the results of their Internet marketing across brands and against industry peers. Answering the question, “How do other pharmaceutical companies do ‘it’?”®, the quarterly audit helps managers assess the relative success of online campaigns and standardize expectations for agencies and in-house e-groups.
The Internet Performance Benchmark provides an aggregated scorecard of online brands measured against a database drawn from nearly 50 brands. The report covers volume and efficiency measures for such tactics as paid searches, banners, CPA programs, Web sites and emails, indicating where the brand stands relative to the industry. The customized benchmarks are based on data gathered from vendor reports and analytics tools.
Click here to see a sample of the data.
The need for objective, industry-wide measurement for online marketing efforts is well established. A recent TGaS Advisors client forum identified Internet Marketing as one of two channels with “the most opportunity for improvement” to the company’s results in terms of their marketing analysis efforts. An Internet Marketing Operations benchmark conducted by TGaS Advisors showed that two-thirds of brands had no clear summary of their online marketing programs and one-third were not receiving even the raw data needed to track and optimize their programs.
Pharmaceutical industry e-marketers are invited to visit www.tgas.com to take TGaS Advisors’ “Chaos Quiz” as a gauge of how their Internet marketing measures up. The quiz features such questions as how many vendors marketers use to produce online programs, time required for medical/legal review, measurements and numeric goals and how these goals compare to results from similar brands across the industry. E-marketers are also eligible to enter a drawing for an iPod touch®, which will run through December 31, 2008.
“Pharma companies typically have several different agencies marketing their brands, each with their own online programs, sometimes combined with in-house e-groups. Marketers need a way to gauge the overall effectiveness of their online investment, analyze the spend and manage the enormous potential of these new tactics as effectively as possible,” said Steve Gerard, TGaS Advisors Managing Partner. “We developed the Internet Performance Benchmark to give senior managers a unique, unbiased, outside-in perspective, so they can see key metrics across all Internet program elements at a glance, benchmarked against similar pharma brands and programs and trended over time,” he said.
Pharmaceutical companies spend an estimated $360 million annually for Internet marketing on media alone. Given the amount spent and the time necessary to manage online marketing, often as a subset of other marketing efforts, companies have a need for the kind of fact-based metrics TGaS Advisors can provide, according to Gerard. The Internet Performance Benchmark captures the relevant information and presents a simple summary of areas of success and areas of potential opportunity.
About TGaS® Advisors LLC
TGaS Advisors is the leader in benchmarking and advisory services to the pharmaceutical and biopharmaceutical industry. The TGaS Advisors roster includes the majority of the top 50 pharmaceutical companies with operations in the U.S. market. The firm’s benchmarking and advisory suite of solutions, PharmaStance®, provides clients with a way to measure where they stand with respect to their operations and answers the question, “How do other pharmaceutical companies do ‘it’?” TGaS Advisors is based in East Norriton, Pennsylvania. To learn more, visit www.tgas.com.
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