Promotional speaker programs have been widely used in the industry. Many companies consider them a necessary component of any marketing strategy.
The speaker is generally selected locally, by the sales representative to speak at a series of programs.
It is one of the best marketing tactics that complement detailing. It is used as a touch point apart from the regular face-to-face calls made the sales representatives.
The Speaker Bureau Management, the attendance of the speaker programs could be a part of a sales representative’s incentive compensation (or a contest for a product launch).
Here are the insights you could extract from the Speaker Bureau data that the logistics company provides to you:
# Total Programs/Attendees by Program Status:
Programs are classified into ‘Planned’, ‘Completed’, ‘Occurred’, ‘Cancelled’ – This attribute is referred to as Program Status
The Programs are stamped as ‘Complete’ when the expenses are paid and the documentation is complete. Else, the program has just occurred. The time depends on the Service Level Agreement between Pharma Company and the logistics provider.
# Total Programs/Attendees trend over Time:
# Number Of Unique Attendees over Time (Comparison with Current & previous Periods)
Trend and Comparison between months/quarters. This is the foremost metric to check the effort by a Sales Representative.
# Number of Programs Breakdown by Program Type
Is the program as web, in-person, Peer Perspectives, Round-Table etc.?
# Total Programs/Attendees by Indication/Diagnosis:
Breakdown of Speaker Programs and the Attendees by approved Indication.
For example: if your drug is approved for Lung Cancer NSCLC-L1, NSCLC – L2 and SLC, as a marketing manager it is important to check whether programs are being conducted per strategy.
# Attendees Breakdown by Prescriber/Non Prescriber:
The Non Prescribing staff (NRP, PA etc.) at a hospital/clinic may attend the Speaker Program (for breakfast, lunch, dinner ;/) and influence the Prescriber. It is imperative to know who is attending your programs and if it impacts the writing behavior of the prescribers.
# Number of Programs/Attendees Breakdown by Geography (Territory/District/Region):
Which Sales Representatives has conducted the most programs?
Have they met their annual/6 mo. /Quarterly target?
# Speaker Program Impact: Did the Speaker program bring any change in prescribing behavior of your drug?
This is usually obtained by conducting a Test-Control Analysis where you Compare Revenue from Prescribers who are not part of any speaker program (control) and the ones who are part of Speaker programs in the given month/quarter (Test) over a period of time, say – 3 weeks, 6 weeks, 3 mo., 6 mo., 9 mo.
More Attendee Specific metrics!:
- Which attendees are NEW or Existing in the given time period?
- What is the Physician Specialty (ONC, Internal Medicine etc. ) of the attendees?
- What is the Practice Type (Clinic/Hospital) of the attendees?
- What is the Physician Potential Segment of the attendees (High, Low, Medium)?
- Are the attendees even a part of my Physician Target List?
Is the Speaker X having any impact on the prescribing behavior of the Attendees?
# Who are my Top ranking Speakers – in terms of Revenue from Attendees?
# What is the Average Attendance for a particular Speaker?
# What is the Average Prescription growth post the Speaker program conducted by the Speaker?
Costs of the Speaker Programs
#What is the Average/Min/Max Attendee Cost to the Speaker Bureau?
#What is the Average/Min/Max Program Cost to the Speaker Bureau?
#What is the Average/Min/Max Meal (Breakfast, Lunch, Dinner) Cost over time to the Speaker Bureau?
There are host of other metrics that could be correlated with Sales and other revenue streams to generate a holistic view of Speaker Bureau Program Management.