10% increase in revenues with promotion response modelling
Identified the set of physicians to target, and derived the optimal number of calls to be given to them to achieve the brand forecast
The client is a leading pharmaceutical company and reached out to us to create a system that could help in optimizing the promotional efforts by identifying the optimal number of physicians for targeting. However, the client didn’t know the curated set of physicians that they needed to target. The solution should answer which type of physicians the client needs to increase/decrease their effort.
We built a promotion response modelling that used historical data to model different components and identifies the contribution of promotional activity in sales results. The first step was to ensure the data collection and doing a health check on the data. Monthly level sales and calls (promotion) data was obtained. Other inputs were brand level trends, brand forecast, brand financials, etc. The next step was to create the analysis universe and perform segmentation to assign each physician to each of the groups/segments.
Our response modelling solution led to 10% increase in revenue and nearly 15% reduction in physicians to target.