A guide to measuring and tracking brand KPIs
April 2, 2015 |
Dr Allison Fleetwood, Director of Therapy Watch, alongside Associate Director Jennifer Redfearn, recently delivered a workshop on measuring and tracking brand KPIs as part of the BHBIA training programme (www.bhbia.org.uk).
With tighter market research budgets and new products under pressure to do well in a very short period of time, there’s very little margin for error. To succeed, market researchers must achieve internal alignment, clarity around critical success factors, and full visibility of launch performance.
To achieve this, KPI tracking needs to be efficient whilst also focusing on the most important and pertinent market metrics. This may require drawing on a range of secondary data sources often supported by ad hoc or syndicated primary research; with the primary research designed to focus on the key objectives through research with key physician specialties.
KPIs need to fulfil SMART criteria (i.e. be Specific, Measurable, Achievable, Realistic and Timely) and designed to generate market insight which is actionable. Indeed selecting the right time period over which to measure KPIs is one of the most important decisions to make. The KPIs themselves may also be growth related.
KPIs have to address a business need and measure something that will change the way the business operates. They also have to have the right level of granularity. For example, if key stakeholders are the local affiliate sales force, there is no point in reporting the KPIs at an aggregate EU level.Download our ‘Top tips for measuring and tracking KPIs’There are 3 key steps in designing KPIs:Understand your market. Consider for example:
- Is it acute or chronic?
- Who are the key prescribers and their goals?
- How do the patients segment?
- What is the competitive set?
- What is likely to trigger a change of therapy?
Know your brand’s value proposition:
- What is its positioning?
- What are its key product features?
Decide what you are trying to achieve:
- What are your objectives?
– Is it to measure whether your key messages are being delivered and
understood?
– Is to measure your market share?
– in a particular patient segment?
– by a certain time point?
– vs competitors, vs other countries, vs other internal products?
– Do you want to match fieldwork to the timing of your marketing
campaigns?
Most importantly you need to decide what success looks like and design your KPIs to measure your definition of your brand’s success. Internal stakeholders need to buy-in to what success looks like and the chosen KPIs. The KPIs should be simple to understand and to track and delivered in a format which is easily understood to ensure adoption by internal stakeholders. Dashboards are often used to deliver KPI data to a wide internal audience and can be integrated with other company data to give a fuller picture of the performance of a brand over time.
Download our ‘Top tips for measuring and tracking KPIs’
Research Partnership is one of the largest independent healthcare market research and consulting agencies in the world. Trusted partner to the global pharmaceutical industry, we use our expertise and experience to deliver intelligent, tailor-made solutions. We provide strategic recommendations that go beyond research, helping our clients to answer their fundamental business challenges. Find out more here http://bit.ly/1JF99Do
This content was provided by Inizio
Company Details
Latest Content from Inizio
Intelligent field team engagement: Turning shared knowledge into deeper insights and better decisions.
At Age of AI 2026, Inizio Medical’s Phil Wakefield and Inizio Ignite’s Tim Luxford will explore how cross-functional collaboration and AI can unlock faster, more actionable insights across medical and...
AI in practice: 4 real-world use cases in health and life sciences
Artificial Intelligence (AI) is often discussed in broad terms, with promises of transformation at scale. In practice, however, its value is realized in far more specific ways – when it...
How will AI change field training?
Learn how a next-generation approach to field training – powered by GenAI and avatar simulations and enabled through Intelligent Commercialization™ – can transform field force effectiveness by delivering scalable, always-on,...
Inizio Ignite Sparks a New Era of Connected Advisory Solutions
Inizio, a leading global commercialization partner for pharma and life sciences, today unveiled Inizio Ignite, a reimagined, fully integrated advisory partner designed to accelerate pharma performance through strategy, insights, and innovation.
MM+M Podcast explores AI-powered audience intelligence with Inizio Evoke
The MM+M Podcast features a conversation with Jamie Avallone, Chief Data Officer at Inizio Evoke, and Iris Lin, Product Science Lead at Inizio Evoke, who share their perspectives on what...
Inizio Engage CEO Jim Sage featured in pharmaphorum’s “12 Questions” series
Discover Jim Sage’s insights on leadership, industry challenges, and the transformative impact of data, technology, and patient-centric innovation in his latest pharmaphorum “12 Questions” interview.
Reframing the Obesity Conversation: Key Takeaways from ObesityWeek® 2025
As the understanding of obesity continues to evolve, so too does the science, patient experience, and cross-sector collaboration driving innovation. At ObesityWeek® 2025 in Atlanta, experts from across Inizio reflected...
How DataGateway unified oncology data for real-world insights & market intelligence
Discover how our DataGateway platform unifies fragmented real-world oncology data into a single, validated dataset that delivers deeper insights and faster decision-making.
Inizio launches InConcert™ to transform pre-launch planning through connected intelligence.
Inizio today announced the launch of InConcert™, a new AI-powered data solution designed to accelerate smarter, evidence-led decisions during the critical pre-launch phase of the product lifecycle.
ESMO 2025 highlights: How storytelling, design & emotion are transforming scientific engagement
Discover key insights from ESMO 2025 on how design, emotion, and sustainability are reshaping medical congress experiences. Featuring expert takes from Inizio leaders.