Pharmaceutical Companies Rebrand Speaker Programs to Meet Changing Political and Regulatory Landscape, Says New Study by Cutting Edge Information
RESEARCH TRIANGLE PARK, NC--(Marketwire - October 5, 2009) - In response to increased political and regulatory scrutiny, pharmaceutical companies are rebranding their promotional speaker programs as unparalleled opportunities for physicians to learn or remain current on the latest drug developments and to network with colleagues. The rebranding is helping to attract physicians who are more interested in learning than in getting a free meal. It is also working to improve program ROI and lessen pressures from outside agencies that feel the meetings are payoffs for prescriptions.
This finding is part of "Pharmaceutical Speaker Programs: Measuring ROI and Communicating Value", a report released today by business intelligence firm Cutting Edge Information.
As the incentives provided for attending speaker events have decreased, companies focus on program content and make it the centerpiece for attracting prescribers. Because a range of perks can no longer serve as the attraction, companies must present the most knowledgeable speakers and informative content. Likewise, companies position speaker events as networking opportunities where physicians can communicate with other doctors in their field and communities.
"Pharmaceutical companies know that speaker programs still hold great value as educational and promotional tools," said Jason Richardson, president of Cutting Edge Information. "Even as the life science industry adapts to increased pressure and scrutiny, many companies have improved their programs by focusing on the core value provided by the events while adhering to the restrictions on the extras."
"Pharmaceutical Speaker Programs: Measuring ROI and Communicating Value" discusses strategies of leading life science companies to make their speaker programs more effective and to prove department value. It includes metrics on program costs, methods to improve speaker bureau management, and analysis of speaker program trends.
Posted: October 2009