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The Pulse of the Pharmaceutical Industry
3301 Benson Drive, Suite 400
Raleigh, NC 27609
Account wins 4
Account losses 1
Active business clients 10
Brands by 2014 sales
Brand-product accounts held 26
$25 million or less 7
$25 million to $50 million 5
$50 million to $100 million 4
$100 million to $500 million 5
$500 million to $1 billion 1
Integrated marketing communications 90%
Corporate communications 10%
Jadran-Galenic Laboratory/JGL Inc.
Medical Innovations Group
Medical University of South Carolina
MedThink Communications celebrated its 10th year as an independent full-service agency with renewed energy and a focus on building relationships with a diversified client base. “We’re really excited about our future,” says Scott Goudy, president of MedThink Inc. “In 2014, we proved that our strategic approach to client business really works. We’re looking forward to accelerating our growth for 2015, using 2014 as the model for how an agency can form productive partnerships with clients across a wide range of healthcare categories.” This model assesses client business holistically, providing custom solutions and integrated marketing communication plans that not only meet client needs, but also show a proven ROI.
“We’ve evolved the idea of evidence-based medicine into evidence-based marketing,” he continued.
According to Laura Perry, managing director, “ROI is a priority for 90 percent of healthcare marketers today. Yet, very few agencies are able to measure it beyond what are really ‘soft metrics.’ We believe all tactics should include key performance indicators that allow us to measure, monitor, and maximize investment. There is a significant need to shift to a more nimble business model that proactively anticipates market needs, and dynamically shifts priorities, resources, channels, tactics, and audiences in order to optimize the bottom line.”
The year’s accomplishments
The 2014 value proposition, which focused on taking ownership and accountability for client brand success, paid off with big wins across a diversified landscape of healthcare categories, including over-the-counter brands, medical devices, diagnostics, hospital systems, and pharma brands in cardiovascular and CNS. “We actively pursued clients who would value our type of passion and commitment, and in return, commit to being a part of a strong strategic partnership that fosters year-on-year growth,” Perry says.
New client wins included Helomics’ ChemoFx, Aqua Maris from JGL, CleanaScope for Medical Innovations Group, and the Medical University of South Carolina (MUSC) hospital system. JGL and Medical Innovations Group strengthened the agency’s global presence, while the addition of two CNS launch brands from U.S. client Arbor Pharmaceuticals LLC contributed to organic growth. MedThink also grew organic business from Arbor’s cardiovascular brands, including developing a specialized NP/PA program featuring KOL videos, newsletters, and a website, and launching a DTC effort.
As Perry stated, “We’ve had a whirlwind last six months. We’re in the process of launching fourcbrands, in addition to constantly developing new state-of-the-art solutions to help our client meet their toughest challenges. While our focus is certainly on growing MedThink as a company, we are also highly cognizant of the fact that our current clients are our most important priority. “
Aligned with the focus on data-driven strategy, the insights and analytics department played a large role for MedThink in 2014. Executives say clients appreciated the team’s ability to demonstrate how to pull through MedThink’s holistic, nimble, and accountable value proposition to achieve maximum ROI in real-world situations. This approach helped media buying and insights and analytics work together to win another media AOR account – MUSC. However, the insights and analytics team isn’t the only one who got to flex its muscles this year. MedThink’s digital and creative capabilities were also in high demand in 2014, as evidenced by multiple projects featuring iPad and Surface sales presentations, video and motion graphics projects, and animated and interactive touchscreen rollouts.
“Our people are amazing,” Perry says. “No matter what the project, no matter how big or how small, everybody is focused on how to create the highest quality work for that client. We’ve got a pretty unique setup, in that our staff has a lot of cross-functional ability. That makes the whole experience pretty seamless for a client, as there’s a deeper understanding of what’s needed and how to get there from both a strategic and executional perspective.”
Structure and Services
MedThink is a full-service agency, delivering quality work in traditional, digital, media, market insights and analytics, SEO/SEM, and media buying, executives say. Goudy continues to head up the organization. Perry provides new business and strategic leadership, along with day-to-day supervision of all accounts. “Our recruiting efforts have attracted a lot of outstanding talent to the agency,” Goudy says. “And we’ll need even more talent in 2015, to support our ongoing growth.”
One thing that won’t change as MedThink grows is the MedThink culture. Noted for being inclusive, collaborative, and open, Perry observed, “one of the reasons people want to come to MedThink is that we’re genuinely interested in our people. We work hard, but we enjoy each other’s company and respect each other’s professional expertise.” The company continues to foster an environment where staff is encouraged to learn and grow by attending conferences, classes, and training.
“Career growth is essential to making MedThink better,” Perry says. “The better our people are, the better we are able to help our clients meet their business challenges. It’s good for everyone to expand their skill set and knowledge base – it keeps our people engaged, and it makes us a more competitive company.”
MedThink intends to remain fiercely independent in order to continue to provide the nimble, flexible, and agile solutions that come with fewer layers and greater autonomy. Retaining a focus on innovation and exceptional creative work is key, as is maintaining a corporate culture that values collaboration, passion, and curiosity.
“We are also committed to proactively seeking out and developing relationships with clients who value strategic partnership,” Goudy says. “As we continue to grow, the right client partners will give us the ability to deliver strategically sound solutions in unique ways that are supported by measurable KPIs. In turn, we can help them overcome their marketing challenges and maximize bottom line potential.”
“This type of partnership, where we continually assess and improve the marketing plan, is a dynamic and evolving one that requires dedication from both companies,” Perry says. “We are absolutely committed to this business model, and have already shown that it works. Now we’re out to show that the best is yet to come.”
As an organization, MedThink is committed to supporting a range of local and national charities. Every year, the Angel Tree project makes sure local children in need get their holiday wishes granted, and Toys for Tots receives bags full of gifts. MedThink also continues to support the Backpack Buddies program, which supplies children in need with healthy meals on the weekends during the school year. MedThink is currently adding a book drive, and is actively engaged in exploring a partnership with a local charity, where MedThink can offer more than financial support.
“We want to make an impact in our community,” Goudy says. “We want to give of our time and talent, to have our people engaged with the Raleigh community on a regular basis.”
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