Category: Qualitative Research

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Decoding a hidden world by using a pharmaceutical naming agency
Decoding a hidden world by using a pharmaceutical naming agency

When is the last time you heard someone ask a pharmacist for a refill on N-methyl-3-phenyl-3-[4- (trifluoromethyl) phenoxy]propan-1-amine? How about fluoxetine? The answer is probably more common than you think. While the scientific and generic names for Prozac aren’t particularly memorable, they do provide a revealing look into the byzantine world of pharmaceutical naming.

Many small and medium pharmaceutical researchers and producers don’t realize how important naming is until the FDA rejects their patent and sends years of research and clinical trials back to square one. A pharmaceutical naming agency can help decode the mystery and ensure your work makes it to market.

Why pharmaceutical naming matters

The FDA strictly regulates and subsequently rejects between 20 – 25% of drugs’ generic and brand names to avoid confusion that might lead to misdosing, confusion over a drug’s efficacy, or that might lead to patient stigmatization and privacy violations. Once approved, the naming process continues to play an important role in a drug’s success because a pharmaceutical company may only market their drug under a brand name, rather than a generic or scientific name, once it has been patent protected.

Competing companies may market the same generic drug under a different name to make the market more competitive. While Advil and Motrin are both brand names for ibuprofen, their name, positioning, and marketing plays an important role in which the consumer ultimately chooses.

How a pharmaceutical naming agency can boost your success

The average pharmaceutical naming agency creates between 2,000 – 5,000 names for each drug before beginning the FDA screening process and march to patent protection that will allow brands to compete in the market. A top Florida advertising agency like BIGEYE can help kick off that process by vetting names that may raise flags for the FDA or that will not stand out from the competition.

By partnering with a creative team, your brand can focus on the science and success of your product while your agency ensures your research and work does not get delayed because its name sounds too similar to another drug or accidentally includes the common shorthand for another scientific component.

Contact us today to learn more about how we’ve helped other drug producers enter the market and break through the clutter of competition from big pharmaceutical companies.

 

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Audience Branding Consumer Insights Conversion Optimization Digital Targeting Services Media & Analytics Public Relations Qualitative Research Strategy & Positioning
What Makes a Social Media Campaign Successful Alternatives to ROI
What Makes a Social Media Campaign Successful Alternatives to ROI

If there’s one thing we’ve learned here at our Orlando ad agency, it can be very difficult to offer a clear cut return on investment for social media efforts.  In fact, most companies inherently sense that there is some value in having an active and engaging social media platform, but because they can’t always tie it to an actual return, it can be difficult to determine the exact value of a Twitter follower or a Facebook “like.”  While it may be slightly easier to determine a return based on a campaign that successfully incentivizes people to purchase a product, it’s nearly impossible to determine how a successful campaign leads to brick and mortar sales, brand perception and other valuable consumer information.
But, a new method of thinking suggests that marketers look to other data points beyond a dollar for dollar return.  These new media experts suggest that, in the same way that advertisers can’t necessarily calculate an exact ROI based on the success of a single television commercial campaign, they should stop trying to attach a ROI to a social media campaign.  [quote] In fact, with the field of data science constantly growing in value, it’s highly possible that in the future, big data will be more valuable for a company than dollars spent.[/quote]

The following are some metrics that advertisers can use in order to help them determine an actual return on investment for a social media campaign.

Data through qualitative responses: One of the best ways to find out what consumers want from your company is to ask them directly. If the goal of your social media campaign is to ascertain data about customer wants, then incorporating questions that encourage them to engage by providing information such as their favorite websites or types of features they’d like to see integrated with your product, then a breadth of data can be invaluable.

Sharing: People tend to share content that triggers an emotion, and that they feel the need to share with others.  On Facebook, “likes” are valuable, but sharing is what brings your content into the minds of people who wouldn’t have seen it otherwise.  You can calculate shares in terms of impressions, and can compare your shares against previous campaigns.

Click-through rates, conversions and other analytics: You can also use data tracking tools such as Omniture to find out where people are finding your content, how long they stay on your page and other useful information that can help you build more successful campaigns in the future.

Press Impressions:  You know you’ve built a strong campaign if the press are covering it in a positive light.  AdAge and other companies are always reporting on businesses that use social media and digital marketing in innovative ways, and being able to capitalize on this helps to bring attention and viewership to your campaign so that even more people will pay attention.

At our Florida advertising agency, we understand that the importance of developing social media campaigns that drive sales in the short term while also providing a lasting brand-to-consumer relationship.  And in our book, a happy customer is always the epitome of success.

Contact us for help developing your social media campaign today!