Measuring what matters: setting the right KPIs in pharma marketing

In our previous articles, we explored how fragmented data holds pharma marketers back, how creating a single source of truth builds clarity, and how accurate, near real-time data drives faster decisions. In this article, we take the next step: defining the right key performance indicators (KPIs) and measuring what truly matters.

Pharma marketing generates vast amounts of data across CRM systems, marketing automation tools, web analytics and event platforms. But data alone doesn’t create value. Without clear KPIs, even the most advanced dashboards risk becoming noise rather than guidance.

Why KPIs matter in pharma marketing

Measuring performance in pharma marketing isn’t as straightforward as in consumer industries. Sales cycles are long, regulations are strict, and marketing often supports multiple stakeholders, from healthcare professionals to patient communities.

A 2023 survey by MM+M and Publicis Health found that while nearly 90 percent of pharma marketers have adopted digital tools, only about 40% use consistent KPIs to measure success. This gap highlights a core challenge: digital maturity doesn’t automatically equal data maturity.

Meanwhile, Boston Consulting Group (BCG) notes that short-term KPIs in biopharma marketing are often focused on incremental prescription gains and cost efficiency, while long-term success depends on linking marketing investment to behavioral change and brand trust.

The importance of a balanced KPI framework

A balanced KPI framework includes both activity metrics and outcome metrics such as:

1. Engagement and reach
   Metrics like email open rate, portal engagement, and webinar attendance show whether campaigns are reaching the right healthcare professionals. Industry benchmarks suggest an average email open rate of 22-25%.
   
2. Channel efficiency
   KPIs such as cost per qualified HCP lead (CPL) or cost per acquisition (CPA) measure how efficient campaigns convert attention into meaningful engagement.
3. Business impact
   Ultimately, the focus shifts to business outcomes, such as brand awareness, or HCP intent to prescribe. A data-driven targeting approach leads to higher engagement and a stronger brand recall than those relying on traditional methods.

So, setting the right KPIs isn’t just about tracking performance, it’s about creating focus and accountability in an increasingly complex pharma marketing landscape. By aligning metrics with strategic goals, marketers can ensure their efforts drive meaningful impact for all stakeholders, from healthcare professionals to patients. With a thoughtful approach to measurement, pharma marketing has the opportunity to not only optimize campaigns but also build stronger connections and trust within the healthcare ecosystem.