New Web 2.0 metric not the old ROI

Share this article:
As pharma begins incorporating Web 2.0 tools in their marketing, many are unsure how to assess them. Andy Levitt, who worked for Schering-Plough, Johnson & Johnson and Genzyme before starting his own word-of-mouth marketing company, HealthTalker (healthtalker.com), coined the term “return on involvement” (ROI) to describe a new methodology.

Brand managers can't entirely track patients' reach to other consumers about a product like they can measure more traditional Web-based advertising or e-mail campaigns. That is, the impact of a recommendation of a friend to someone in his social network remains elusive.

But studies show word-of-mouth advertising is the most trustworthy kind. And Levitt's ROI metric, which he is using in a customized program for Shire to raise consumer awareness about a specific disease state, will evolve over time as firms track consumers' reach to others. The key is to embrace the new tactics now, despite the unknowns.

Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in Features

Email Newsletters

More in Features

Read the complete September 2014 Digital Edition

Read the complete September 2014 Digital Edition

Click the above link to access the complete Digital Edition of the August 2014 issue of MM&M, with all text, charts and pictures.

Medical marketing needs mainstream Mad Men

Medical marketing needs mainstream Mad Men

Agencies must generate emotional resonance with the target audience, not unlike Apple, Pepsi or Nike

Are discounts cutting out co-pays?

GSK's decision to cut Advair's price spurred some PBMs to put it back on formulary. Will drugmaker discounts diminish the need for loyalty programs? How can these programs stay relevant beyond giving co-pay assistance?