Last decade’s global financial crisis forced big companies to brutally cost-cut on marketing and advertising. Lean Management divisions filled corporate space, it was all about the economy. Nowadays markets are slowly recovering from the breakdown, still, most companies seek new, profitable sales tools.
As a sales director or product manager, you are probably looking forward to economizing on your sales force. The best way of accomplishing this is to complete the representative - client face to face contact with mobile device tools. In the US, mobile advertising is projected to increase to $28.48 billion in 2015. According to CMO Council site research, 28% of marketers have already reduced their advertising budget to fund more digital marketing. The key is to effectively balance multi-channel campaign expenses.
Let’s make an equation on the example of medical reps hired by global companies. Their yearly pays are usually very attractive and consist of base and bonus, giving a total of 140 000 dollars in the US, 40 000 pounds in the UK and even 70 000 euro in Spain for an experienced employee. As I learned from my friend engaged in the Polish pharma industry, big companies pay a sum of around 15-20 000 zlotys monthly for a representative. Assuming the rep has 5-8 daily visits in hospitals and private clinics, the real value of one visit comes up to 50 euros.
Of course, the client's contact and his trust are priceless… Or do they have a measurable cost? What if I told you the same representative - physician communication could be done for the price of less than 10 euro?
‘Email and SMS, we know all of that’- you will think - ‘SMS with high open rates or emails filled with attachments, nothing new…’ Has that crossed your mind?
If your answer is yes, please keep in mind the following facts: SMS can contain only 160 characters and are therefore used mainly to inform about a promotion, drive clients into a store or offer a coupon. Emails give the opportunity to send rich content, but only a few clients will actually read them. A pharma marketer needs a combination of both: valuable e-mail content + SMS sending channel PLUS the thing making content outstanding compared to the other sales campaigns.
This thing could be a personalized video recorded by your Key Account Manager or representative and sent to the client with the Highp video messaging platform. This solution replaces most face to face sales visits by personalized video messages followed by various product attachments like PDF, PP, docs. No need to engage your rep to travel each time there is new content to deliver. Normal sales contacts require about five representative visits in order to drive physicians to focus on the product. You can do the same with one Highp campaign.
According to Smart Insights Email Marketing Statistics for 2015, emails from the healthcare sector obtain a 23% open-rate. One email sent to a physician from the exterior database costs 25 cents. This seems ok, but in reality, the messages do not engage recipients, as only 3 % are clicked-through. So about 33 emails would be needed in order to have the certitude your client opened the email. Total cost: 82,5 euro. And you have to pay no matter the effect.
Highp is the most reasonable choice for sales campaigns. It lets you get extremely high open-rates for a very good price and our cost policy ensures you pay only for the messages which succeed. All that for one reason - when our client is happy with what he gets, we are happy with what we do.
Use the staying sum of your Q4 budget in the best possible way.
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