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Green flags For Measurement Success: Best Practices For Pharma Advertising
According to Salesforce’s State of Marketing 2024 report,1 88% of marketers are using marketing analytics and measurement tools to improve campaigns and measure success. But what are the best practices that make measurement a true asset in decision-making for any marketer? In this blog, we explore “green flags” — best practices that ensure a measurement strategy is effective and reliable and provides insights you can use to strengthen your decisions and maximize results.
Green flag #1: Comprehensive data sets
“Good data in, good data out,” so the saying goes. Comprehensive, robust data sets provide a trustworthy holistic view of advertising campaign performance and its impact on audience behavior. This, in turn, better informs your decision-making and your ability to strategically adjust campaigns as you go. Good data helps you identify trends, optimize targeting and measure return on investment with greater accuracy.2
Green flag #2: Transparency of methodologies
What methods are being used by your measurement vendor? Do they not only share but also clearly articulate those methods? The most trustworthy vendors are those who are open to your questions and offer detailed explanations of their methodologies and calculations. Consider involving your internal analytics experts in discussions about measurement as well. A collaborative approach will distill complexities and provide a fuller understanding of the data and resulting insights. Then you’ll be able to integrate findings more effectively into your decision-making processes. As we mention in our companion blog, Red Flags in Measurement, anything that is opaque is a red flag.
Green flag #3: Adopt an action-oriented approach
The true value of measurement lies not in the data itself but in its ability to guide strategic decision-making. Adopting an action-oriented approach to your measurement efforts means you’re always in active mode: constantly considering how insights gained can translate into concrete steps to improve your campaigns. Meet with your team regularly about your brand’s advertising performance and keep the focus on transforming insights into actionable marketing steps.
Green flag #4: Consistency in measurement approaches
As we’ve discussed in a prior blog, Turning Metrics Into Momentum: Engaging Your Leaders With Data, consistency is a best practice in the world of marketing measurement. Your measurement vendor should be using standardized techniques along with consistent data sources. Standardized approaches provide reliable and valuable insights across campaigns. They also give you a clearer understanding of your brand’s long-term advertising impact, which translates to a more effective long-term strategy.
Green flag #5: Privacy as a priority
Privacy needs to be at the forefront of any direct-to-consumer campaigns. Always partner with measurement vendors who prioritize data privacy and have robust protections in place. This not only ensures regulatory and legal compliance for your brand but also protects your brand’s reputation while maintaining trust with your audiences.
Measurement is an ongoing, collaborative investment of time and effort. Set a culture of continuous learning within your teams and work with vendors who care about engaging in a dialogue. The world of measurement, like that of marketing, continues to evolve. Adhere to these practices, keep asking questions and stay informed — these are best ways to maximize marketing impact and enhance value to patients.
Learn more about the world of measurement with these resources:
- Significance Testing: What Brand Managers Need to Know.
- Two Metric “Must Haves” for Healthcare Marketing: Audience Quality and Net Impact.
We invite you to watch our webinar: Our Resident Data Nerd Spills the Tea: Confessions from a Methodologist.
References:
- State of marketing, ninth edition, p. 9. Salesforce. 2024.
- Travassos Rosário A, Carmo Dias J. How has data-driven marketing evolved: Challenges and opportunities with emerging technologies. International Journal of Information Management Data Insights. 2023 November;3 (2).
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