The Role of Closed Claims Data in a Successful Pharmaceutical Marketing Strategy

For pharmaceutical marketing teams, falling short doesn't just waste resources - it can lead to a loss in market share in an increasingly competitive market.

Closed claims data offers a game-changing solution. By offering a comprehensive view of patient journeys, treatment outcomes, and healthcare provider prescribing behaviors, closed claims data empowers marketing teams to create targeted, data-driven campaigns that resonate with providers and patients.

But it's more than just better targeting. Closed claims data helps optimize every aspect of a pharmaceutical marketing strategy, from resource allocation to measuring ROI.

In this blog, we will explore six ways to leverage closed claims data to enhance your pharmaceutical marketing strategy, drive more effective campaigns, and elevate your brand in the competitive life sciences market.

1. Access comprehensive market insights

Problem: Limited visibility into the full healthcare ecosystem can result in missed opportunities and misaligned marketing strategies.

Solution: Closed claims data captures the entire patient journey across your brand and competitors, offering a 360-degree view of population health. By analyzing patient demographics, treatment pathways, and outcomes, marketing teams gain a thorough understanding of market trends and behaviors. This insight helps teams anticipate market shifts, identify gaps, and craft data-driven strategies that reflect real-world dynamics - ensuring campaigns are always one step ahead.

2. Execute precise customer segmentation

Problem: Generic, one-size-fits-all marketing approaches often miss the mark and waste resources.

Solution: Closed claims data enables precise segmentation by offering insights into patient demographics, treatment gaps, and socioeconomic characteristics. This data helps marketers zero in on the unique needs of different groups, ensuring that each campaign resonates with the right audience, increasing engagement and improving overall campaign success.

3. Tailor marketing messages for maximum impact

Problem: Inaccurate or impersonal marketing messages often fail to engage healthcare providers and patients.

Solution: The granularity of closed claims data enables highly personalized marketing messages. By understanding patient demographics, clinical characteristics, and provider prescribing trends, teams can develop campaigns that highlight the value of treatments for specific diseases and improve patient outcomes. Real-world, data-driven messages resonate more deeply, improving engagement and driving a 23% increase in marketing campaign effectiveness.¹

4. Accurately measure ROI and adjust campaigns

Problem: A lack of clear data makes it difficult to measure the effectiveness of marketing campaigns, leading to guesswork in demonstrating ROI.

Solution: Closed claims data provides clear, actionable insights into the direct impact of marketing efforts. By tracking prescription volumes, geographical trends, and historical performance, marketers can measure the ROI of specific campaigns with precision. This allows for continuous improvement, empowering teams to compare interventions, optimize strategies, and make data-driven adjustments to maximize impact.

5. Optimize resource allocation for greater efficiency

Problem: Inefficient allocation of marketing budgets and resources can result in wasted opportunities and suboptimal results.

Solution: Closed claims data offers high-level geographic and temporal granularity, facilitating data-driven decisions about resource allocation. By understanding regional prescribing patterns and treatment uptake, marketers can focus their investments where they'll have the greatest impact. For instance, if the data shows high potential but low prescribing rates in a specific region, teams can prioritize targeted campaigns there, increasing brand uptake and ROI.

6. Strengthen brand positioning with data-driven insights

Problem: In a crowded market, differentiating a brand can be challenging.

Solution: Leveraging closed claims data enables marketing teams to develop a compelling, data-driven brand strategy that positions their company as a leader in healthcare. By understanding the competitive landscape and the impact of interventions on cost, utilization, and patient outcomes, teams can craft value propositions that demonstrate their brand's ability to drive better outcomes. This strengthens brand's market presence and builds trust with healthcare professionals and patients, reinforcing the company's competitive advantage.

Driving success in pharma marketing strategies

Integrating closed claims data into a pharmaceutical marketing strategy empowers teams to transform their campaigns from generic approaches into targeted, impactful initiatives that deliver measurable results. These valuable insights provide a competitive edge and facilitate informed decision-making, optimize resource allocation, and strengthen brand positioning in a crowded market.

Inovalon's Provider Market Insights SaaS solution delivers advanced data analytics on social drivers of health, arming life sciences teams with actionable insights.

Request a demo today to discover how closed claims data can elevate your marketing efforts and propel your brand forward.

To read the first two installments of this three-part series about closed claims data, visit here and here.

1. "Creating value from next-generation real-world evidence," Champagne, D., Devereson, A., Perez, L., & Saunders, D., McKinsey & Company, July 23, 2020, https://www.mckinsey.com/industries/life-sciences/our-insights/creating-value-from-next-generation-real-world-evidence

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