Virtual speaker programs typically lower costs by 60% to 85% compared to traditional local speaker events.  A 2009 survey* of professionals at pharma companies who manage speaker programs showed that virtual speaker events yielded a 60% savings over local events. When thinking about cost savings, consider the following:

•    First of all, 60-85% cost savings are HUGE. This is one of best opportunities for pharma brands to lower their spending.

•    The real cost-savings come from desktop-to-desktop virtual programs. If you conduct virtual meetings from studios-to-venues (such as restaurants), cost savings are minimal.

•    In my experience, cost savings of 85% are quite possible, especially if you conduct virtual speaker programs on a scale that’s similar to most local event speaker programs.

•    Desktop-to-desktop virtual programs can produce 60-85% cost savings even if the group sizes per event are relatively small (6 to 10 HCPs).

•    Sources of cost savings include elimination of meals, elimination of AV and room charges, lower faculty honoraria, and no faculty travel expenses.

* Cutting Edge Information, survey on Speaker Program Effectiveness, 2009