Measuring Medical Affairs performance

You’re likely familiar with the concept of market share. If you are in the tractor business and if $100 million worth of tractors are sold each year and if you sell $10 million of those tractors, you have a 10% market share.

Knowing your market share is valuable information. But for all the value you can extract from market share information, ultimately it’s a look in the rearview mirror. Market share is calculated based on what’s been sold. And every time a competitor sells a tractor, that’s revenue you are not going to get. That’s why there is so much interest in more predictive measures.

Once such measure is called share of voice. The underlying concept of share of voice as used by social media and public relations practitioners is pretty simple: a measurement of public mentions of your company and your products versus everyone else. In the context of scientific research, measuring share of voice can offer powerful insights into who’s getting the most attention and making the biggest impact in the overall scientific conversation – and who isn’t.

That’s the underlying premise behind Medmeme’s new Share of Scientific Voice℠ offering. It’s a powerful, sophisticated way to track shifts in share of voice to understand who is winning and losing the ongoing battle to drive the scientific conversation in key areas. The power of Medmeme’s Share of Scientific Voice derives from covering all the right sources across the entire spectrum of medical research. That’s critical because you can’t properly measure your slice of the pie without seeing the whole pie first. Moreover, Medmeme not only captures these sources on a current basis, it has years of historical coverage as well, allowing you to examine trends over time. Add in the capability to look at segments of research activity by product class, therapeutic area and more, and you can see how the granular, longitudinal insights that Medmeme uniquely makes available make it easy to both understand your own share of scientific voice, as well as how to maximize it.