|Attorneys bid up keyword 'Celebrex'|
| 6:26 pm on Dec 20, 2004 (gmt 0)|
|If past is prologue, Celebrex may top $10, as attorneys seek to capitalize on the opportunity to target one of the world's most profitable drug companies. Pfizer is expected to have more than $50 billion in sales and roughly $15 billion in profit this year. |
The same thing happened when Vioxx, Merck's $2.5 billion arthritis and painkiller drug, was withdrawn in September. As soon as the news broke, law firms seeking Vioxx takers to represent in lawsuits against Merck (MRK: news, chart, profile) began bidding on the term Vioxx.
The term Vioxx, which started at $2 prior to the Merck announcement, soared to more than $40 within weeks. The term Vioxx is worth about $9 today.
Paid search isn't new, but the immediacy of the ads going up underscores the real-time and personalized nature of this marketing channel. And, increasingly, paid search has proved to be one of the best ways to target and find specific buyers, or in this case, possible victims.
CBS Market Watch [marketwatch.com]
| 10:22 pm on Dec 20, 2004 (gmt 0)|
Much more timely than a yellow pages ad you get to update only once a year. Probably cheaper and much better targeted too. Even at those prices.
| 5:43 pm on Dec 21, 2004 (gmt 0)|
I know one attorney that is spending $5000 per month on ROS Vioxx text links. He only ranks number 17 in google as of 2 weeks ago.
| 5:57 pm on Dec 21, 2004 (gmt 0)|
You got to love Bambi. She comes so close to actually getting a story right so often.
Most law firms bidding on Vioxx in order to attrack clients who have been injured have been doing so for more than two years.
Vioxx also hit over $40.00 within hours, not weeks, and it has been bouncing around between $13-15$ ever since. The real money terms like vioxx recall and vioxx lawsuit are still running close to $30.00
| 11:35 pm on Dec 21, 2004 (gmt 0)|
The lawyer egos involved in the law firm marketing game sometime result in outrageous bidding wars where the primary focus is the bragging right of being #1, not ROI.
| 11:50 pm on Dec 21, 2004 (gmt 0)|
How can you even calculate ROI when millions of $'s is involved.
| 10:26 pm on Dec 22, 2004 (gmt 0)|
Good point ogletree, ROI determination is difficult based on the subjectivity of each case. But, some of these guys really hit the PPC prices out of the ballpark in my opinion.