Optimizing marketing and sales investments across brands and regions
An established pharmaceutical manufacturer needed to optimize marketing and sales investments across regions while identifying risks and opportunities within the revenue stream. The company’s annual budget for sales and marketing across all brands and regions was substantial, and an investment of this size required annual consideration against revenues to determine right allocation levels of support. Using Passport Promotional Analytics, the company generated a 0.7% lift in sales within the first full year of promotional investment plan implementation.
lift in sales in the first year of implementing promotion optimization and planning
Optimizing and improving efficiencies of promotional investments in each region
The company had an annual sales and marketing budget of $4 billion, which required annual consideration against revenues to determine if this was the right level of support. Furthermore, the company was also interested in shifting from a resource-heavy model to a technology platform with service efficiencies. With a more scaled approach the company hoped to increase the frequency and timeliness of analysis support, typically quite a lengthy undertaking involving many ad hoc support services. In addition, the company hoped that improved analysis frequency would also fill gaps in market insights for brands lacking in historically available models.
Leveraging a promotional analytics platform to identify efficient sales and marketing launch plans for each region
Using several modules within Passport Promotional Analytics, an evaluation of the promotional effectiveness was completed by reviewing historical data and understanding channel preferences for each region. With this information, multiple promotional investments were evaluated and the best launch plans for each country were determined.
Generated a substantial lift in sales after the first year of implementation
The company optimized and scaled promotional investments from six to 60+ markets to achieve a 0.7% lift in sales in the first full year of plan implementation. In addition, the company was able to dramatically decrease consultant dependencies from 50 consultant to four data scientists.