NEW YORK, Sept. 5, 2019 /PRNewswire/ — To boost clinical trial recruitment numbers and grow business as a whole, ongoing progress must be reported and evaluated. In an effort to help with such endeavors, fishbat discusses clinical trial performance metrics.
By definition, performance metrics are details that are used to help measure a company’s ongoing performance. Trackable variables include, but aren’t limited to, leads generated and transactions completed. With performance metrics, companies can see where they’re strongest and areas where improvements can be beneficial. Performance metrics aren’t limited to day-to-day operations, either; they can also be applied to employees and their performance in the workplace. In other words, metrics can set a course for a company and its workforce to follow in the long term.
Clinical trial recruitment companies aren’t exempt from performance metrics. With these statistics, said companies can increase their numbers, which will ultimately grow their businesses. However, there is more to performance metrics than logging into different types of software and collecting numbers. The information that’s gathered should be utilized to make improvements. To maximize performance metrics, make note of the following 3 tips.
- Define the most important KPIs. Also known as key performance indicators, KPIs are measurements that are used to determine the effectiveness of an employee, a strategy, or an entire business. Examples of KPIs range from monthly sales growth to employee turnover. When it comes to clinical trial recruitment, a clear KPI would be the number of applicants that volunteer for studies. Define which KPIs are the most important so that it can be understood what to regularly track.
- Report metrics on a monthly basis. It’s recommended that performance metrics are reported on from month to month. As a result, companies will be able to evaluate their progress over the course of approximately four weeks. From there, they can make necessary changes to any field or department that requires improvement the most. With monthly reports featuring these metrics, it will be easy to determine the efficiency of a business strategy.
- Do not waste time applying performance metrics. Finally, use what has been discovered, from a metrics standpoint, as soon as possible. One of the key benefits of digital media is that strategies can shift in rapid fashion. Strategies in regard to marketing and promotion are “fail-fast,” meaning that instead of waiting months for necessary changes, modifications can be made in a fraction of the time. The sooner that performance metrics are implemented, the more effective clinical trial recruitment efforts will become.
fishbat is a full-service online marketing agency specializing in clinical trial advertising. The fishbat team takes a holistic business approach to their clients’ digital marketing programs but understanding the importance of business principles just as well as the nuances of the latest digital technologies. fishbat offers every digital marketing service available from digital marketing research and planning to clinical trial brand development to website and asset creation through social media management and search engine optimization programs – all custom calibrated for both B2B and B2C businesses.