Smaller Pharmcos Can Play in the Big League — And Win!

Key takeaways – and insights — from ePharma’s panel discussion “HCP Multichannel Marketing: at the Intersection of Physician Engagement, Smooth Communication & Smart Selling”

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Moderator:

Terri Young, Ph.D., Head, WW Multi-Channel Management Partners, Bristol-Myers Squibb

Panelists:

Eric Rothstein, Executive Director, Customer Channels & Solutions, Merck

Robin Kamen, Senior Director, Digital Strategy, Pfizer

Erik Dalton, Vice President of Operations, Healthcasts

Anne Stroup, Vice President of Strategy, Alliance Life Sciences

You don’t have to cast a big shadow to turn data analytics into improved engagement strategies – and capture increased market share.

With a more nimble, flexible business model than their larger counterparts, small to mid-size companies have the potential to readily scale multichannel marketing and personalize HCP messages to drive business.

If you weren’t able to attend the recent ePharma panel presentation, here are some of the key-insights from top industry thought leaders. Essentially, smaller pharma may be inherently agile and positioned to advance these strategies more rapidly.

Turn Traditional and Expanded Data Sets into HCP Engagement Strategies

Marketing today is synonymous with data analytics. There is an unprecedented amount of customer data that can help build out personalized HCP communications creating a customized experience. However, with respect to the management of this data, without quick reflexes and agile technology, customer-centric strategies will fail to activate or reach full potential.

Deeper customer insights is the key to unlocking:

  • Behavioral and attitudinal trends
  • The value that a customer can bring to your brand
  • The customer’s  receptivity to your each component of your value proposition
  • Relevant content that keeps the customer engaged with your brand
  • The most optimal promotional mix

Evolved HCP Multichannel Marketing Focuses on the Customer’s Needs

As we have learned from other industries, brand loyalty results when a value-based relationship is developed between a customer and the brand.  Integrated multichannel marketing is evolving from a promotional campaign to a dialogue that builds into a relationship.

In order to establish and grow a relationship, the brand must both understand and act upon the customer’s needs. This means delivering the content they want, when and how they choose to receive it.  Content must be appropriate to their immediate need and accessible on-demand through multiple channels.  In addition to a deep understanding, this requires planning, expanded content, and the technology infrastructure to support customer focused engagement.  It is a different model than the product based push campaigns we have become accustom to.

Yes, the Rep IS Part of the Multichannel Marketing Strategy.

Channel Mix Modeling allows marketers to segment engagement strategies by the presence and depth of the field reps based on the HCP’s value.  Integrating all channels and selecting content based on previous interaction creates a cohesive customer experience.  With recent adoption of approved mail, reps can expand their relationship with physicians.  And brands can supplement rep generated interactions with incremental, relevant content.  When the rep and physician relationship is not firmly established, the integrated multichannel approach offers interaction options.    Creating this cohesive customer experience is about QUICKLY managing all the channels in real-time and a non-overlapping way.

Creating personalized customer experiences of the likes Amazon has with their customers requires agile data management, technology AND staff with quick reflexes. It’s important to evaluate your staff and systems with this in mind. If you don’t have the right parts and pieces in place, look for partners who can provide the industry experience, the big ideas, data management and the technology needed to build real physician and customer engagement.

To learn more contact: Anne.Stroup@alscg.com

You can also gain industry insight by reading Customer Engagement Strategies Drive Brand Growth 

Five Customer Engagement Strategies to Drive Brand Growth

Step up your game or expect to be left behind: that’s the message to pharmaceutical brand managers. There’s a new mindset among physicians and patients who now expect to interact and relate to these brands in the same way they connect with consumer brands in their everyday lives. The pressure is on, requiring new strategies that are clearly more viscerally related to the customer.

Make the information available and accessible – on their terms.  When communicating information that goes beyond core brand content, it needs to be delivered on the customer’s terms – the channel, format, and timing of his or her choosing. Digital and traditional channels are now conveying brand messages, but this doesn’t mean physicians have easy access to the information they need when and how they want it.

It’s important to transmit the brand promise through every customer interaction,and create meaningful customer engagements that drive brand adoption and loyalty.

Customer engagement is worth the investment. Gallup advises that a customer who is fully engaged represents an average 23 percent premium in terms of share of wallet, profitability, revenue, and relationship growth compared with the average customer. This not only justifies the upfront investment, but also validates the need for ongoing dedication of resources.

Improve upon the overall customer experience.  Each element of the process in developing customer engagement can drive brand growth and optimize resources. It’s a continuous cycle of evaluating results and deepening customer knowledge so that each interaction with the brand has meaning for the individual.

Multiple data sources, analytic methodologies and research avenues exist in combination to build the customer insights that drive successful customer engagements.

For example, longitudinal patient data, combined with clinical notes and other traditional data sources, can reveal treatment patterns that could be used to predict financial value and establish brand adoption goals at a physician level. Advanced analytic methodologies can uncover causal relationships and reveal customer behaviors and sensitivities that help define the “Moments of Truth,” tipping points in the decision-making process that allow the customer to continue on their journey.

Moving from Awareness to Advocacy.  Every touch point must deliver the brand promise and move the physician down this path. Whether the touch point is about exploring a clinical study, clicking through to an eDetail, writing a script, or sharing with a peer, each must have a strategy that drives engagement.

For example, a brand can reinforce the physician’s treatment choice by delivering a message that includes post-launch outcomes data, brand adoption statistics or physician satisfaction feedback. This reinforcement, coupled with his or her patient’s success on therapy, influences a critical Moment of Truth.

Today, customers research, compare products and read peer recommendations, and they reward brands that meet — and exceed — expectations with adoption and loyalty. When done right,it’s a win-win for both customer and company alike.

For more information, download Alliance’s white paper “Customer Engagement Strategies Drive Brand Growth” here.

Are You Ready for Customer Centric Marketing? Part 2

The customer centric environment brings together data which most of the time already exists within your organization and analyzes it in a way that has not been done in the past. The result, a clearer customer picture.  While the best data strategies begin with traditional methods, they go both broader and deeper into incorporating all customer and influencer touch points from a content, channel, timing, impact, and cost perspective. Historical quantitative data is complimented by current customer perceptions and defined based on your unique challenges to remove extraneous or misleading information.  To avoid discrepancy issues, all data must be integrated, managed, and follow governance protocols. A cloud-based analytic ecosystem can help bridge the gap between today’s marketing decision making needs and the permanent operational foundation that supports them.

Along with the need to understand the attitudes and preferences behind customer behavior comes the ability to identify the characteristics most closely associated with customer defection so that pharmaceutical brands can adapt and deliver a relevant engagement. Analyzing customer interaction patterns and value potential can result in sales force augmentation or white space solutions that lead to efficient growth.

Whether you are looking to maximize the value of your customer contract strategy or project the market share impact of your promotional investment levels, analytic solutions can blend deep customer insights and microeconomic analysis to yield effective and efficient customer engagement strategies. Viewing data through a customer centric lens builds new relationships between customer attitudes and actions, as well as uncovers their revenue impact.

The experiences between a brand and its customer or prospect increase brand adoption and ultimately are the underlying principles laying the foundation for effective promotion. But what is the formula for a is.  Changing to an analytical-based model offers the ability to strategize, plan, and react quickly across all customer channels while integrating sales and marketing to relevantly engage valued customers.  To truly impact brand relevancy and increase adoption, particularly in a regulated environment, full business integration of analytics, data, marketing, and compliance is needed. You can achieve this framework and bring your brand to the forefront of your customers’ minds.

 

 

Are You Ready for Customer Centric Marketing? Part 1

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:

  1. What will motivate adoption?
  2. 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.