Tag Archive market research

Bysinsights

Generic Launch & Pharma Marketing Spend: An Emerging Trends

The Global Generic Drugs Market is expected to reach $375 Billion by 2021. With several patent expiries in 2018-19, demand of generic is increasing globally.

As the demand for generic increases, competition to supply and sell the generics increases. In such a situation, we at SI-Insights have been able to create a one-stop model not just to track the generic development but to identify the right suppliers by conducting a comprehensive pipeline analysis and pharma supply chain market research.

Meanwhile, Indian pharmaceutical industry that is historically a generic dominant market is going through a transition phase where competition is at its peak. Be it new drug pricing policy or doctor imputes/gifts/compensations, regulation is playing big role apart from other factors.

In this situation staying ahead of the curve is a challenge at the same time it offers tremendous opportunities. In coming days customer acquisition and retention is going to be challenging in a cost sensitive market like India. Those who play smart for coming two years could dominate the markets for several years to come.

Do you think it’s going to be zero-sum game? If so, how’s your organization going to stay ahead of curve?

These are some of the questions require attention and collective thinking. We would love to be part of exiting journey. Find more about us www.siinsights.com.

Who we are

  • We provide an “Evidence based Intelligence” and help pharmacos leaders in their decision-making process
  • Serve our client “Timely with High Quality Data & Insights
  • Team with cumulative “100+ years of Research & Consulting” experience. Over 20K+ pharma and healthcare active contacts across the globe
  • We are a ISO 9001: 2015 certified firm that works with top Consulting & Pharmacos across the continents
  • We believe in “Better informed take a confident decision

Deliverable : Key Attributes

  • Distribution of Sales Force
  • Geographic Distribution of Sales Force
  • Productivity
  • Customer Coverage
  • Reach-Frequency
  • Salary-Incentive
  • Marketing Expenditure
  • Historical Analysis
  • Portfolio Allocation
  • Growth Drivers-Barriers
  • Brand Monitoring
  • Medical Communication
  • KOL Assessment | Interaction

Note above mentioned services are only for Indian Market. Some attributes may not be covered in US, EU and APAC markets.

Stay ahead of competition:
e: vijay@siinsights.com
m: +91-7506221809

Bysinsights

Thinking about Social Media Benchmarking? Things You Should Know to Measure Business Performance

Technology is transforming. And digitization has changed the way you do your business. Today entrepreneurs are digging out new processes,incorporating new ways and setting new strategies to take their business to the next level.

Measuring your business performance based on the digital research report or social medical benchmarking is enterprises’ comprehensive approach. If you are not familiar with the social media benchmarking, this blog is worth a read.

Let’s dig deeper and get insights into social media benchmarking report.

What is Benchmarking?

Benchmarking is a typical process. It includes comparing one’s process and performance metrics. Or it involves finding out the best practices of competitors.

Benchmarking is a method, applied to make sure – what you are doing is best. It is the way to recognize the performance of any effort or understand how well you are doing. It is what drives your business core objectives. Without it, you can hardly understand where you are standing in the market.

Find out how benchmarking helps businesses!!

It is important to know that top management doesn’t care about the end of season sale. What they care is they are ahead of their competitors in terms of sales growth. Benchmarking enables determine whether or nottheir business is making more money. If the business is growing better than previous years, that is obviously good.

To justify or analyse business performance or prepare internal assessment, benchmarks are considered.

Social Media Benchmarking

Social networking sites have become the most common platform to generate leads and earn brand name. Given to that, more and more businesses are considering social media benchmarking to overview their performance. The traditional way of benchmarking is being replaced by the social media benchmarking. The objective of this new method is to gauge your own performance – or generate a digital report.

Experts measure the top line performance of your business’ social media efforts through a social network’s inbuilt analytics. They try to know how yourcompetitor is performing on social media.

Example
Assume that you run a campaign on Diwali. How will you know where the engagement score stand on this campaign? This is where social media benchmarking plays a significant role.

With the help of it, you are able to see where the engagement score on your Diwali campaign stands when compared to the score of competition’s Diwali campaign.

Metrics to Benchmark

Initially, professionals start by benchmarking fundamental metrics that include community growth. Then then get ahead to the metrics like frequency of posting, share of voice and customer service.

To better understand, let’s take a glance at metrics to benchmark of two popular social networking sites – Facebook and Twitter.

Facebook Benchmarking

For Facebook, metrics to benchmark may include Fan growth engagement Score, people talking about, daily active users on app (DAU), monthly active users on app (MAU), brand participation in user posts, admin participation, average reply time, and campaign intelligence.

Twitter Benchmarking

For twitter, experts consider follower growth, engagement score, favorites, retweets, tweet count, tweet frequency, tweet type distribution, mentions, response rate and average reply time, etc.

Listed above are the key metrics on the basis of which Facbookand twitter benchmarking is considered:

Precisely speaking, the nature of digital age is believed to witness constant changes to the following:
• metrics available
• key metrics to benchmark
• Actionable insights to inform content strategy

Conclusion

As we discuss above, it is clear that benchmarking is the right way to have contextual overview of your business performance. However, to reap extensive benefits, you should look professionals’ help who can provide you with correct digital research report or conduct benchmarking. They can help you level up your social media strategy.

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