|[December 06, 2013]
Despite an Industry-Wide Decline, Some Pharmaceutical Companies Are Increasing Speaker Program Budgets
RESEARCH TRIANGLE PARK, N.C. --(Business Wire)--
A recent Cutting Edge Information study found that in some cases,
pharmaceutical speaker program budgets are increasing as speaker program
demand remains steady and the market improves.
According to the survey data found in, "Promotional Speaker Programs:
Successfully Managing Speaker Bureaus and Recruiting Thought Leaders,"
the economic downturn of 2008 and a rash of patent expirations- combined
with new regulations - have driven drug companies' speaker
program budgets downward. Companies have since adapted by developing
more cost-effective tactics, such as web-based meetings, and no longer
need as much funding.
In response to the economic downturn, some pharmaceutical companies
struggled to piece together the resources necessary to employ dedicated speaker
program teams. A managing director interviewed, said that companies
used to conduct training programs-which could cost up to $250,00
each-in conjunction with other miscellaneous speaker programs. The
executive estimated that the limited manpower-resulting from previous
layoffs-and a lack of products in the pipeline had forced some companies
to cut their spending.
"A product's lifecycle stage also influences promotional speaker program
budget allocation," said David Richardson (News - Alert), research manager at Cutting
Edge Information. "In some cases, companies that report increased
promotional spending may have recently launched a product or wish to
target specific products already on the market. As the outlook for
speaker programs continues to improve, companies may require specialized
programs and healthcare professionals to better publicize their
The study also revealed that the percentage of promotional
speaker program budgets dedicated to salaries and overhead costs
varies among surveyed companies. On average, these costs represent 27%
of a company's speaker program budget.
"Promotional Speaker Programs: Successfully Managing Speaker Bureaus and
Recruiting Thought Leaders" (http://www.cuttingedgeinfo.com/research/marketing/pharma-speaker-programs/)
features trend analysis and detailed data on the impact of regulatory
changes to promotional speaker program teams. Research includes
performance metrics for speaker event management, including typical
attendance, average cost per attendee and best times to hold events.
Use this report to:
Allocate funding and cross-functional staff to best support
promotional speaker program teams.
Provide top-quality promotional speaker programs and boost attendance
Understand and adapt to the impact
of the Sunshine Act on speaker programs.
Gather fair-market value benchmarks for speakers' compensation.
For more information about pharmaceutical speaker program benchmarks,
contact Cassie Demeter at 919-403-6583.
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