Industry
Pharma
- Clearly defined intuitive segments, using which promotional effort of $150 Million was allocated to achieve highest ROI
- Enabled optimal spend on effort to top 35,000 physicians
- Removed wasted effort spent on ‘no-see’ physicians
- Enabled new prescribers to be added to segmentation
- The drug achieved sales of over $1 Billion
The company was launching a new drug that could potentially be prescribed by up to 400,000 physicians. Since targeting all physicians would cost thrice the allotted budget, there was a need to come up with a solution that would recommend which physicians to target, and how valuable they were.
An exhaustive process was followed to build the tool. This included:
- Factor Analysis of specialties, referrals, value, potential, etc.
- Model Building iterated over several algorithms like K-means clustering, hierarchical clustering, etc. to build a combination of rule-based and clustering algorithms
- Segment validation using test and control groups. The solution was refined based on feedback.
