{"id":197525,"date":"2018-07-25T13:11:47","date_gmt":"2018-07-25T11:11:47","guid":{"rendered":"https:\/\/www.bluenovius.com\/?p=197525"},"modified":"2023-04-11T13:22:21","modified_gmt":"2023-04-11T11:22:21","slug":"video-marketing-pharma","status":"publish","type":"post","link":"https:\/\/www.bluenovius.com\/videomarketing\/video-marketing-pharma\/","title":{"rendered":"How to Calculate the ROI of Video Marketing for Pharma"},"content":{"rendered":"\n<div style=\"height:54px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><span style=\"font-weight: 400;\">As more and more pharma companies are making the move towards digital marketing, video is one of the most enticing options out there. As the average adult in US now spends more than 100 minutes per day on video (with tendencies for growing), it\u2019s clear that video is getting bigger by the day.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">However, besides a pure rise in the number of viewers, pharma marketers are interested in something else. What is the ROI of video marketing? How do you calculate return on investment in any type of marketing, let alone in an industry as specific as pharma? It is actually not that complicated \u2013 and here\u2019s how to do it.<\/span><\/p>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-set-clear-objectives\" style=\"font-size:38px\"><b>Set clear objectives<\/b><\/h2>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><span style=\"font-weight: 400;\">Before starting any video marketing campaign for pharma, you need to know what you want to accomplish. For pharma companies, you can have a number of different goals:<\/span><\/p>\n\n\n\n<ul><li><span style=\"font-weight: 400;\">\u00a0Promoting your latest scientific publication<\/span><\/li><li><span style=\"font-weight: 400;\">Spreading awareness about a disease<\/span><\/li><li><span style=\"font-weight: 400;\">\u00a0Add-on for your product launch<\/span><\/li><li><span style=\"font-weight: 400;\">Keeping physicians up to date<\/span><\/li><li><span style=\"font-weight: 400;\">Etc.<\/span><\/li><\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Only by establishing what your objective is can you measure your success. For example, it could be the number of physicians who viewed your video, the number of emails\/calls inquiring about a new product.<\/span><\/p>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-establish-the-channels-of-promotion\" style=\"font-size:38px\"><b>Establish the channels of promotion<\/b><\/h3>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><span style=\"font-weight: 400;\">As we\u2019ve written before, video really is a multichannel type of content that works well in many different marketing strategies. However, before you even start creating a video for your pharma marketing purposes, you should think about the channels where you are going to promote it.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Email is the preferred channel for many physicians, and you could suit your videos to be embedded in emails. Some other channels include your website, LinkedIn, webinars, ebooks, etc. If it\u2019s properly structured, you can also use your video for presentations on medical conferences as well.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">We\u2019re particularly fond of animated medical explainer videos, as they can be presented across every channel. In this way, they present the highest return on investment of all video types that pharma companies can use.<\/span><\/p>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-calculating-roi-of-video-marketing\" style=\"font-size:38px\"><b>Calculating ROI of video marketing<\/b><\/h3>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><span style=\"font-weight: 400;\">Once you\u2019ve established your goal and channels, it\u2019s time to get to the heart of the problem \u2013 calculating the return on investment of video marketing in pharma. There are three main ways to measure ROI:<\/span><\/p>\n\n\n\n<ul><li><span style=\"font-weight: 400;\">Absolute ROI<\/span><\/li><li><span style=\"font-weight: 400;\">Relative ROI<\/span><\/li><li><span style=\"font-weight: 400;\">Attribution ROI<\/span><\/li><\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Absolute ROI is the simplest and most effective way of measuring return on investment from your pharma marketing videos. Depending on the goals and channels you\u2019ve selected, you can calculate it in one of these ways:<\/span><\/p>\n\n\n\n<ul><li><span style=\"font-weight: 400;\">Cost per email subscriber<\/span><\/li><li><span style=\"font-weight: 400;\">Price per view<\/span><\/li><li><span style=\"font-weight: 400;\">Cost per product inquiry<\/span><\/li><\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Calculating absolute ROI is fairly simple, as you can take the total amount spent on creating and promoting the video and divide it by the number of subscribers\/views\/emails sent about a product.<\/span><\/p>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><a href=\"https:\/\/i0.wp.com\/www.bluenovius.com\/wp-content\/uploads\/2018\/07\/video-marketing-roi.jpg?ssl=1\"><img fetchpriority=\"high\" decoding=\"async\" width=\"597\" height=\"328\" src=\"https:\/\/i0.wp.com\/www.bluenovius.com\/wp-content\/uploads\/2018\/07\/video-marketing-roi.jpg?resize=597%2C328&#038;ssl=1\" alt=\"video marketing roi\" class=\"wp-image-197529\" srcset=\"https:\/\/i0.wp.com\/www.bluenovius.com\/wp-content\/uploads\/2018\/07\/video-marketing-roi.jpg?w=597&amp;ssl=1 597w, https:\/\/i0.wp.com\/www.bluenovius.com\/wp-content\/uploads\/2018\/07\/video-marketing-roi.jpg?resize=300%2C165&amp;ssl=1 300w\" sizes=\"(max-width: 597px) 100vw, 597px\" data-recalc-dims=\"1\" \/><\/a><\/figure><\/div>\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><span style=\"font-weight: 400;\">Relative ROI allows you to calculate your video marketing spend in comparison to other marketing efforts. For example, if you use videos and reprints at the same time in promoting a new brand, you can stack the two up against each other. In this way, you\u2019ll have a clearer idea of where to best spend your marketing resources. However, calculating relative ROI takes more effort and calculations to do right.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Finally, the attribution model allows you to track the marketing influence of video on each of your pharma marketing channels. In this way, you\u2019re able to see exactly which video is responsible for which conversion in your funnel. This type of calculation provides you with the most accurate and actionable data for your pharma marketing efforts. \u00a0<\/span><\/p>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-the-right-type-of-video-to-start-your-digital-pharma-marketing\" style=\"font-size:38px\"><b>The right type of video to start your digital pharma marketing<\/b><\/h4>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><span style=\"font-weight: 400;\">If you want to commit to a video format that gets the highest return on investment, you should check out animated medical explainer videos. We have tried our PubExplainer with more than 50 pharma companies across the globe, with significant marketing success. If you want to find out what we can do for you as well, feel free to contact us for more details.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Do you want to read more posts like this one? You can <a href=\"https:\/\/www.bluenovius.com\/bosko-tnx-for-reading-post-2\/\" target=\"_blank\" rel=\"noopener\">subscribe to our newsletter<\/a>, where you will get the latest blog posts and pharma marketing news, tips and insights, once per week.<\/span><\/p>\n\n\n\n<div style=\"height:48px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-hand-picked-related-content\"><b>Hand-picked related content:<\/b><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.bluenovius.com\/videomarketing\/video-future-digital-pharma-marketing\/\"><span style=\"font-weight: 400;\">7 Reasons why Video is the Future of Digital Pharma Marketing<\/span><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.bluenovius.com\/healthcare-marketing\/pharma-digital-advertising\/\" target=\"_blank\" rel=\"noopener\">Should Pharma Companies Invest in Digital Advertising?<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.bluenovius.com\/videomarketing\/video-digital-pharma-marketing\/\" target=\"_blank\" rel=\"noopener\">5 Best uses for Video in Digital Pharma Marketing<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As more and more pharma companies are making the move towards digital marketing, video is one of the most enticing options out there. As the average adult in US now spends more than 100 minutes per day on video (with tendencies for growing), it\u2019s clear that video is getting bigger by the day. However, besides [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":197526,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"inline_featured_image":false,"footnotes":""},"categories":[53],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.4 (Yoast SEO v22.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Calculate the ROI of Video Marketing | BlueNovius<\/title>\n<meta name=\"description\" content=\"Maximize your video marketing for pharma by learning how to calculate its ROI. Discover valuable insights on campaign performance. Read more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bluenovius.com\/videomarketing\/video-marketing-pharma\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"How to Calculate the ROI of Video Marketing | BlueNovius\" \/>\n<meta name=\"twitter:description\" content=\"Maximize your video marketing for pharma by learning how to calculate its ROI. Discover valuable insights on campaign performance. 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