Research shows that customer satisfaction has a big impact on both current sales and future growth. So it's no surprise to see pharmaceutical companies taking a keen interest.
Many are using the highly respected Net Promoter Score (NPS) to understand brand health from a customer point of view. But while NPS is an effective way to measure brand health, it offers little insight into how to improve it, leaving companies struggling to make use of the data.
A new line of reports from FirstView aims to change that. Called "NPS+" the reports pick up where traditional NPS data leaves off.
Based on surveys with practicing physicians, NPS+ reports answer key questions about brand loyalty and its effect on market share. Results are packaged as a set of KPIs intended to help drug manufacturers spot areas where their brands need improvement.
Released in December 2015, the first NPS+ reports cover the brands used to treat multiple sclerosis (MS).
- NPS+ Multiple Sclerosis (US) is based on a survey of 100 US neurologists and covers 9 MS brands
- NPS+ Multiple Sclerosis (EU5) is based on a survey of 150 neurologists from France, Germany, Italy, Spain and the UK, and covers 8 MS brands
Answers to Key Questions about Brand Loyalty
The reports paint a clear picture of brand loyalty in the US and EU5 MS markets, and how it affects market share for MS brands. Readers will benefit from key findings about:
- Brand loyalty: How likely neurologists are to recommend each brand, and how likely they are to switch to competing brands.
- The prescribing value of Promoters: How much market share MS brands stand to gain by converting their Detractors into Promoters.
- Promotional messages: Which ones Promoters, Passives and Detractors associate with each brand.
- Brand DNA: What neurologists really think about each brand — in their own words.
It's essential information for decision makers in the MS market, where overall loyalty is low and every opportunity for brands to differentiate themselves counts.
"Brand DNA" Shows Things the Numbers Don't
Brand DNA — short, verbatim descriptions of what MS brands mean to neurologists — is a key part of the NPS+ Multiple Sclerosis reports, revealing important information that numbers alone don't show.
Cross-referencing patterns in brand DNA with quantitative findings from the reports can help drugmakers uncover the sentiment, and key concerns behind loyalty data.
That's especially valuable information for Communications and Brand Strategy teams, who can use it to fine tune positioning, and improve objection handling.
