Leveraging the success of other industries, pharmaceutical companies have entered the world of utilizing customer centric business models. These models can be a cost effective approach, allowing the customer to reach out for the information they want on their own terms, creating a customer and brand connection which results in financial benefits. As all new adventures, the customer centric model comes with challenges because of the new level of intelligence and technology it requires to effectively engage your customer and drive growth.
As a brand, you must ask yourself the following questions:
- What will motivate adoption?
- Have the legacy methods of patient education material/programs and co-pay cards/samples answered the needs of customers?
With the answers to these questions you can begin to think about creating the right brand without compromising your promotional budget.
Proving to still be powerful tools, the access to better data and advanced analytical models can improve decision making by delivering a deeper understanding of your customers’ behaviors and attitudes. This understanding enables you to dimensionalize segmentation and map engagement trajectory models, and expose efficient promotional investments. Integrating smart data elements and analyzing them through a customer centric lens becomes the goal.
But are you ready to transform your legacy infrastructures to handle the dynamics of customer centric marketing?
Stay toned for part 2.