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Advice You - Google Adwords - Don't Make Assumptions You Can No Longer Afford
I made a post in a forum the other day, posing a small conundrum about which Google Adwords ad should be kept and which should be discarded based on the CTR figures which each Ad manage
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
d to achieve.
And it's interesting how different people measure the success, or otherwise, of their Google Adwords campaigns. I'm always advocating testing, but there has to be a few c
And it's interesting how different people measure the success, or otherwise, of their Google Adwords campaigns. I'm always advocating testing, but there has to be a few c
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
veats when you run tests.
The example which I gave in the forum was as follows, and was based on an actual campaign that I had managed for a client in the past.
Imagine you have an Ad
The example which I gave in the forum was as follows, and was based on an actual campaign that I had managed for a client in the past.
Imagine you have an Ad
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
words group with two ads running with optimisation turned off, i.e. Google Adwords will just distribute the search traffic uniformally between your two ad creatives. After 160 you can s
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
e that Ad A has a CTR of 6.8% and Ad B has a CTR of 1.2%
Now the question is, which ad do you run with? Which one do you axe?
When the client saw the stats he immediately said we shou
Now the question is, which ad do you run with? Which one do you axe?
When the client saw the stats he immediately said we shou
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
d remove Ad B because it wasn't performing well enough.
Oh dear.
Obviously he hadn't listened to a word I had said about how to manage a successful Adwords campaign. Ho hum.
Yes, CTR
Oh dear.
Obviously he hadn't listened to a word I had said about how to manage a successful Adwords campaign. Ho hum.
Yes, CTR
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
is important, but not as important as ROI. Return On Investment.
What's the point in buying a ton of traffic if all it does is burn a hole in your wallet? You need sales to run a busi
What's the point in buying a ton of traffic if all it does is burn a hole in your wallet? You need sales to run a busi
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ess, not clicks.
"Oh yes. Well what's the ROI figures then?" he asks, as if he knew this was what he was meant to say all along.
Well, Ad A had a conversion rate of 0.9%, whereas Ad B
"Oh yes. Well what's the ROI figures then?" he asks, as if he knew this was what he was meant to say all along.
Well, Ad A had a conversion rate of 0.9%, whereas Ad B
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
had a conversion rate of 9.4%
"Delete Ad A immediately," was his suggestion.
Is this what you would have done? I didn't.
The fact that the conversions didn't actually have a signifi
"Delete Ad A immediately," was his suggestion.
Is this what you would have done? I didn't.
The fact that the conversions didn't actually have a signifi
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ant monetary value wasn't the point, because anyone who runs their own list knows that it's not always about the initial sale that's important, but the value of a customer over a whole
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
ifetime.
Looking at it on the surface, and now that I've revealed that ROI is more important than CTR, you would expect to delete Ad A and run with the Ad B because of its high convers
Looking at it on the surface, and now that I've revealed that ROI is more important than CTR, you would expect to delete Ad A and run with the Ad B because of its high convers
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ion rate.
Well, look again, my student.
You see, to read anything into the adverts that we test day in and day out, you always have to ensure that you make decisions that are based on
Well, look again, my student.
You see, to read anything into the adverts that we test day in and day out, you always have to ensure that you make decisions that are based on
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
statistical significance.
In the example, extrapolating the figures, you'll realise that we have the following:
Ad A, CTR = 6.8%, so for 2000 impressions that's 136 clicks. Conversion
In the example, extrapolating the figures, you'll realise that we have the following:
Ad A, CTR = 6.8%, so for 2000 impressions that's 136 clicks. Conversion
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
= 0.9% which results in 1 conversion for 2000 impressions.
Ad B, CTR = 1.2%, so for 2000 impressions that's 24 clicks. Conversion = 9.4% which results in 2 conversions for 2000 impres
Ad B, CTR = 1.2%, so for 2000 impressions that's 24 clicks. Conversion = 9.4% which results in 2 conversions for 2000 impres
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ions.
3 conversions for our test. Is that a significant number of results for us to base our findings on?
NO.
Nowhere near enough data.
For a *minimum* we need at least 5 measuremen
3 conversions for our test. Is that a significant number of results for us to base our findings on?
NO.
Nowhere near enough data.
For a *minimum* we need at least 5 measuremen
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
s in each group, that's 5 conversions for each Adwords Ad creative, before we can even start to run significance testing.
Of course, running Taguchi methods for multivariate split-test
Of course, running Taguchi methods for multivariate split-test
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ing would deliver a significant improvement over the simple A/B split test.
The benefit? It allows you to take the elements of the test which provide the most significant influence on
The benefit? It allows you to take the elements of the test which provide the most significant influence on
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
he result. And in the example, it was neither Ad A nor Ad B that came out as the winner, but a subtle blend of the two.
Isn't science wonderful?
I just wish I had stayed awake longer
Isn't science wonderful?
I just wish I had stayed awake longer
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
during my stats lessons at school so that I didn't have to pay a ton of money on learning it all over again.
So just remember, when you come to measure your ad performance, make sure y
So just remember, when you come to measure your ad performance, make sure y
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
u have enough data to come to a statistically significant conclusion. It'll save you a ton of cash, I promise.
© Copyright Howard Sandford, Fast Improvement 2006. All rights reserved
© Copyright Howard Sandford, Fast Improvement 2006. All rights reserved
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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