A biotechnology firm responsible for cutting-edge cystic fibrosis medicines was unchallenged in its market, but potential competition loomed. The global head of digital marketing recognized this and saw an opportunity to extend the company’s leadership position by improving its digital measurement practices and strategic use of digital data.
A marketing model historically reliant on face-to-face selling meant the firm had limited use of non-personal digital channels. To enable further investment in digital and multi-channel programs, managers needed to understand how to measure the impact of digital and multichannel programs, and how to use digital data to optimize program investments and improve business performance.
To address the challenge, The Stem:
- Assessed the company’s approach to multichannel measurement and strategic use of data
- Identified opportunities to strengthen measurement and data capabilities
- Formulated a vision and a road map of projects over the coming two years
- Provided a KPI and reporting framework for measuring business impact of multi-channel investments
To assess the company’s measurement and data capabilities, we:
- Partnered with the global marketing team and local affiliates, gaining cross-functional participation from
- Conducted 20 stakeholder interviews across France, Germany, the United Kingdom and the United States
- Reviewed 35 digital assets and measurement reports
- Assessed client maturity using a customized framework that looked at the strategic use of data in measuring channels, content, customer relationships and impact
The Stem also shaped a shared vision and road-map for future project investments by:
- Identifying and prioritizing 25 opportunities to strengthen measurement and strategic use of data
- Defining strategic and operational “shifts” required to realize each opportunity
- Holding workshops in each country to prioritize the opportunities for execution at a country level
- Aligning on a global vision statement to guide the company’s digital measurement and data activities
- Introducing a five-step measurement planning process
- Developing a KPI framework to enable the company to assess program impact
- Specifying the creation of 18 distinct reports to produce the data that sales and marketing decision-makers needed to assess program impact and drive continuous improvement. For each report, we identified business questions, audience, data required and data sources.
The client had previously struggled to understand the impact of its multi-channel activities on its business, limiting confident investment in digital and multi-channel solutions.
As a result of The Stem’s recommendations, the client has taken several steps toward evolving its measurement competence. These include:
- Instituting a consistent measurement planning process across markets
- Adopting a measurement model that quantifies the impact of multi-channel programs based on end-user consumption of content, aligned to the brand strategy
- Implementing new role-specific reports enabling marketers to judge the impact of content and channel investments in aggregate, and enabling sales professionals to gauge impact at a customer or account level