It's not hard to increase the profitability by 300% to 800% for Eli Lilly's (ELY:NYSE) Axiron testosterone product within the next 60 days.
Let me dissect the campaign and then show you precisely, step by step how to do so.
Let's begin with TV. The current 60 second TV ad is what I term a half pregnant direct response TV (DRTV) commercial. They have a web address and a dedicated vanity phone number up for less than five seconds at the end of their commercial they also flash a graphic to go to another ad in a magazine. Giving people three different options to respond is useless they simply get confused. The consumer has to be led and told precisely what to do with a specific dedicated phone number for each station that airs the TV commercial to determine each station's cost effectiveness. The web address should not be up at all. If someone wants to search for Axiron after the TV ad they'll find the website.
The 800 number should be up for at least 15 seconds and the commercial should come to a close at 48 seconds with a motionless tag screen and only one option for response (a dedicated 800 phone number used only on the station where the commercial airs to mathematically determine cost efficiencies by station and airings). The 800 number should be mentioned at least twice. This can be done artistically to bolster and enhance Lilly's corporate image.
I'd re-write the commercial and re-shoot it with a statement of why the low testosterone problem exists. These changes would at a minimum triple response and profitability on TV.
By making these changes Lilly (Axiron) would also pay 75% less for direct response TV ad rates. Eli Lilly's current agency would hate this because their billings would go down while efficiency goes up. The more they bill the more they make.
The calls would be best sent to either Live Ops or West Interactive, I'd use both and split test for call efficiency. West Interactive would allow Lilly to take huge call spikes of 20,000 calls without blocked calls. Live Ops could give the callers a better first time call relationship since the calls would be taken by live operators rather than a computer.
I'd immediately send the respondents, (Lilly's prospects), a four color postcard re-selling them on the product and a coupon to be redeemed after their Doctor writes their prescription. I'd tell them step by step what to do to get Axiron on the FREE trial and then how to become a customer with their insurance approving them for the co-pay.
The website would of course also have a printable coupon so the prospect doesn't have to wait for the direct mail. In the direct mail postcard I'd list a toll free help line for questions on getting their co-pay approved and also how to get the co-pay card on both the direct mail piece and the website.
On the Axiron website I'd have a way to add content to increase the relevance of the website under a variety of keywords, this would keep the pay per click pricing down and dramatically increase on line sales.
I've seen the Axiron ads on line and they're O.K. but they keep running the same ad which means they are not testing the components within the ad and their headlines. Testing on line would yield at a minimum increase of response of 300%. The control ad (winner versus other ads tested) can then be used in print.
These changes could all occur along with testing within 60 days and totally change the profitability and response rate and conversion to customers for Lilly's Axiron by a minimum of 300%.
written by Brad Richdale
copyright 2013 all rights reserved
Direct Marketing Medical Devices by "Brad Richdale" ®
