Every industry has its metrics. Batting averages in baseball, stars for restaurants, ticket sales for musicians—to name just a few. These crucial measurements can determine salaries, menu prices, or venues. Yet their importance varies according to the context.
Batting average is irrelevant for an American League pitcher, and a local band may be more concerned with attracting YouTube followers than selling out its Friday gig. In other words, for metrics to be meaningful, you have to choose them carefully.
This holds true for email marketing, too. Many metrics are available to pharma marketers, including a variety of open and click-through rates, read rates, and audience identity data. But the best metrics for your campaign depend on where you are in the product life cycle.
Before your next campaign, use these three guidelines to make your email metrics work harder for you:
1. Analyze the right metrics for your brand goals. Each stage in the pharma brand life cycle is characterized by specific goals. To achieve those goals, you’ll need to develop many types of marketing messages and campaigns. Evaluating the success of each of those initiatives requires different metrics.
For example, the goals and messages associated with a disease state campaign are very different from those of a product launch. Opens and read rate are the focus during pre-launch, while click-throughs and audience identity data provide additional insight when you’re ready to introduce your brand.
The best email metrics for your campaign depend on where you are in the product life cycle.
2. Define KPIs early. It’s important to determine how you’ll measure success from the very beginning. If your top priority is driving physicians to your website, you’ll probably create short emails with strong calls-to-action. In this case, you’ll want to monitor click-throughs carefully.
Other times, such as during unbranded campaigns, you might be more interested in the immediate impact of your email messages. You might send long, detailed messages and then use open and read rates to determine if they’re attracting and holding your target audience’s attention.
3. Leverage email and website data. Email metrics are essential throughout the product lifecycle, but new website metrics provide even greater clarity. Audience identity data reports the identity and browsing behavior of healthcare professionals (HCPs) when they visit participating medical websites. Specifically, it tells you the name, specialty, NPI number, practice location, and page views of double opted-in HCPs.
By combining email data with audience identity data, you can determine which content an individual doctor needs most, deliver it at the right time via email or website, and analyze his response to it.
Though identifying the best metrics and KPIs for each stage of the product life cycle may take a little more time up front, it pays off in the long run. When you design your email strategy around the unique goals of every stage and carefully analyze the resulting metrics—including new website data collected by audience identity management technology— you can build more effective and responsible email marketing campaigns than ever before.