L&M Blog

We all are very familiar with the term Return on Investment. (ROI) You put money into a given strategy and ultimately you hope that the strategy yields a return over time which is significantly greater than the investment you made. The same can be said for your educational Peer-to-Peer campaign. Only let’s call this a Return on Education – ROE. This article will discuss how investment in an educational campaign can be much harder to track to the dollar results, and often is buried within a myriad of other activities which you utilize to target your critical audience.

What if you quantified your results differently?

While increases in prescription volume following a program are a common benchmark, this metric does not have a 100% correlation. You also need to consider other Key Performance Indicators of a programs such as:

• Is your audience more aware of your Pharmaceutical or Biotech Company?
• Are people much more aware of the educational program and what it offers to them?
• What types of questions are you getting at your programs?  Can they inform future educational events or product evolution?
• What types of attendees is your program drawing?
• Are you consistently getting good attendance?
• Is the audience drawn to your program offering as opposed to other competitive events?

Your educational campaign can serve to fulfill many aspects of your awareness goals without necessarily directly correlating directly to sales numbers. Peer-to-Peer programs support the overall brand plan and are a critical way to help your target HCPs to round out their treatment armamentaria. In a recent Skipta Quarterly HCP Survey, 93% of HCPs consider Peer-to-Peer education as an effective means of communicating new treatment information to them and 86% of physicians note that using online lectures will be important for disease education, treatment, and new drug information in 2021¹.

L&M offers a wide range of educational formats to support your brand needs. Through a variety of methods, we can assist with maximizing your ROE including:

• Audience generation and qualification
• Speaker-audience matching
• Advanced Responsive Architecture built pre and post program surveying

L&M Healthcare can implement tools to accelerate your Peer-to-Peer program in 2021.

Thanks for reading.

Adam Margolis

CEO, L&M Healthcare Communications

1. Informa UK Ltd 2020 https://pages.pharmaintelligence.informa.com/Skipta-Your-Key-to-target-HCP-insights?src=social&account_type=TWITTER&account_name=Pharma_Intell&linkId=98050272