Digital Trends in Biopharma Launch Strategy and Investment: Best Practice Summary

STUDY OVERVIEW
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STUDY OVERVIEW

Before 2020, digital tactics were an auxiliary component of the overall biopharma launch strategy. However, the COVID-19 pandemic of 2020 created chaos for the launch plans of many biopharma companies, pushing them for the first time to fully integrate digital strategies into their traditional launch models.

Best Practices, LLC undertook this benchmarking research to examine the accelerated pace of digital adoption to drive innovative biopharma launches. The study identifies the high-value digital activities, probes secondary and tertiary drivers, spotlights investment trends, and captures key lessons learned.

The study also benchmarks the tools and techniques used to get the most out of digital launches.

KEY TOPICS

Digital Activities and Acceleration
Digital Impact on a Successful Launch
Investment Trend & Effective Assessment

KEY METRICS

What percentage of total launch budget was earmarked for digital programs in 2019 vs. today?
Approximately what percentage of the total digital budget was allocated to each of the listed digital operational areas to support your launch product?
How important were each of the listed factors in increased allocation of launch resources toward digital?
Please rate the impact of the listed digital activities and programs used to support a successful pharma product launch
How do you structure your launch team to ensure successful planning, development and execution of critical digital initiatives?
How has launch spend changed across each of the listed critical digital program areas?
Which metric types work well for measuring digital performance?

SAMPLE KEY FINDINGS

Companies have implemented metrics to measure the effectiveness of investment in digital platforms:

On average, companies increased their budget allocation for digital launch by 200% during the course of the pandemic.
To validate these investments, companies have implemented qualitative and quantitative metrics:
- Quantitative metrics help in measuring the reach of digital communication to the patients and HCPs.
- Qualitative metrics assist in understanding HCPs’ feedback.

METHODOLOGY

Best Practices, LLC engaged 12 leaders from 12 biopharma organizations in this study through a benchmarking survey. About one-third of benchmark participants serve at the Director level and above.

Industries Profiled:
Biotech; Pharmaceutical; Consulting; Medical Device; Chemical; Health Care; Biopharmaceutical; Clinical Research; Laboratories; Marketing

Companies Profiled:
Amgen; Bending Brook LLC; Boehringer Ingelheim; Carl Zeiss Meditec; Inc.; Genentech; Kaleidoscope Health Ventures; Merck; Roche; Sanofi; Smith & Nephew; UCB Pharma; West 53rd St Digital

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Digital Trends in Biopharma Launch Strategy and Investment

ID: 5673

Features:

Pages/Slides: 36

Published: 2021

Delivery Format: Online PDF Document

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