The importance of KPIs on Pharmaceutical Marketing Effectiveness

Abstract

In the pharmaceutical industry, the marketing team plays a crucial role in facilitating the exchange of scientific informationbetween the company and healthcare professionals, ensuring the correct and ethical dissemination of information about products, therapies, and clinical studies. The pharmaceutical industry is a national strategic economic partner  and its performance is influenced by factors such as the level of innovation, the legislative framework, the marketing strategies adopted, and the efficiency of internal processes. The process of evaluating and improving performance is essential for maintaining the durability and sustainability of an organization, and its efficiency largely depends on the correct choice of performance indicators. Objective. The objective of this study is to analyze the importance of KPIs in evaluating the efficiency of marketing strategies from the perspective of pharmaceutical marketing teams. Methods,A survey was conducted among 68 participants from 30 pharmaceutical companies in Romania, collecting data on the performance indicators used in marketing and the marketing strategies that have the greatest impact on these indicators. Results. The results show the most used performance indicators are market share (22%), healthcare professionals (HCPs) engagement (18%) and company turnover (17%). Over 70% of the level of these indicators is achieved through marketing strategies involving face-to-face interaction with healthcare professionals, especially medical visits and organizing scientific conferences, while the remaining 30% is reached through digital marketing strategies. Conclusions. The study demonstrates the contribution of the performance indicators in pharmaceutical companies to the efficiency of the marketing strategies, as well as the necessity of effective interactions with healthcare professionals to achieve strategic markeing objectives.

Keywords: key performance indicators (KPIs), pharmaceutical industrial, marketing team, marketing strategies, healthcare professionals (HCPs)