Blog on pharma marketing and sales

HCP Channel Preference in 2024

19/1/2024

Why is HCP Channel Preference important?
HCP channel preference is important for pharma companies because it can help them optimize their marketing and sales strategies, improve customer experience and satisfaction, and demonstrate clinical impact and value.
By understanding and aligning with the HCPs needs and behaviour, pharma companies can deliver relevant, timely, and personalized content to the right HCPs, through the right channels, at the right time.
This can enhance the effectiveness and efficiency of their HCP engagement activities, as well as build trust and loyalty among their customers.

Leaders in the pharmaceutical industry understand their HCP customers at a doctor level. Most HCPs expect a personalised interaction with the pharmaceutical industry.
One-size-fits-All channels is no longer enough.

HCP Channel Preference - Overview

18/1/2024

What is HCP Channel Preference?
HCP channel preference is the preferred mix of communication channels that healthcare practitioners (HCPs) use to interact with pharma companies and other stakeholders.
Each HCP has their own channel preference as part of their individual personality.

Each HCP has their own channel preference as part of their individual personality.

Trends for Omnichannel Pharma Marketing

1/12/2023

What are the Key Trends for Omnichannel Pharma Marketing?

Data-driven decisions, as pharma companies need to leverage data as a strategic asset to inform their omnichannel marketing strategies. This requires using data from various sources, such as customer relationship management (CRM), electronic health records (EHR), social media, and web analytics, to gain insights into HCPs' profiles, journeys, and outcomes.
Optimization across channels, as pharma companies can no longer rely on single-channel marketing to reach and persuade HCPs. Omnichannel marketing enables pharma companies to tailor their messages and offers based on HCPs' preferences, behaviors, and needs.
Performance measurement, as pharma companies need to track and evaluate the effectiveness and impact of their omnichannel campaigns. This requires using advanced analytics and metrics to measure the return on investment (ROI) and customer lifetime value (CLV) of omnichannel marketing.

Data-driven decisions, as pharma companies need to leverage data as a strategic asset to inform their omnichannel marketing strategies.

Omnichannel Pharma Marketing

23/11/2023

What is Omnichannel Pharma Marketing?
Omnichannel pharma marketing is a strategy that uses data and analytics to deliver personalized and engaging experiences to healthcare practitioners (HCPs) across multiple channels.

Omnichannel marketing is the next step in pharmaceutical marketing, as it can create value for both pharma companies and HCPs by enhancing customer satisfaction, loyalty, and advocacy. However, implementing omnichannel marketing in the pharma industry also poses some challenges, such as data integration and management, personalization and targeting, and organizational adoption and trust.
Therefore, pharma companies need to adopt a holistic and agile approach to transform their commercial model and stakeholder experience using advanced analytics.

Pharma companies need to adopt a holistic and agile approach to transform their commercial model and stakeholder experience using advanced analytics.

Omnichannel Engagement in Healthcare

14/9/2023

What is Omnichannel Engagement in Healthcare?
Omnichannel engagement in healthcare is a strategy that uses data and analytics to deliver personalized and engaging experiences to patients and healthcare professionals (HCPs) across multiple channels, such as web, mobile, email, social media, and telehealth.

What are the Benefits of Omnichannel Engagement in Healthcare?
Omnichannel engagement aims to improve patient outcomes, satisfaction, and loyalty by providing consistent and seamless interactions throughout the healthcare journey. Omnichannel engagement also helps healthcare organizations to optimize their resources, increase their efficiency, and reduce their costs.

How can a Pharma Company excel in Omnichannel Engagement?
A pharma company can excel in omnichannel engagement by following these steps:

Personalize the experience for each customer by using advanced analytics to deliver relevant and timely content, offers, and interactions, based on their profile and context.
Identify the preferred channel where patients and healthcare professionals (HCPs) interact with the company, such as web, mobile, email, social media, and telehealth.
Develop a customer journey and personas for each segment of patients and HCPs, based on their needs, preferences, and behaviours.
Develop a consistent brand voice and message across all channels, and align them with the company's value proposition and differentiation.
Integrate the systems and data sources that support the omnichannel strategy, such as customer relationship management (CRM), electronic health records (EHR), web analytics, and social media analytics.

Omnichannel engagement aims to improve patient outcomes, satisfaction, and loyalty by providing consistent and seamless interactions throughout the healthcare journey.

Digital Marketing for MedTech Companies

18/8/2023

What is Digital marketing for MedTech companies?
Digital marketing for MedTech companies is a strategy that uses data and analytics to deliver personalized and engaging experiences to healthcare practitioners (HCPs) and decision-makers across multiple channels. It helps MedTech companies to educate the market, create awareness of specific problems, and present their medical devices or services as the optimal solutions.

What are the key aspects of digital marketing for MedTech?

Product launches: MedTech companies can use digital marketing to introduce new products or services to the market, generate interest and demand, and showcase their value proposition and differentiation.
Lead generation: MedTech companies can use digital marketing to attract and capture high-quality leads, such as HCPs who are interested in their products or services, and nurture them through the sales funnel.
Next-best-action analytics: MedTech companies can use digital marketing to analyse the behaviour and preferences of their leads and customers, and provide them with the most relevant and timely content, offers, and interactions.
Omnichannel campaigns: MedTech companies can use digital marketing to create consistent and seamless experiences for their leads and customers across multiple channels, such as email, social media, web, and mobile.

Digital marketing is a vital tool for MedTech companies to connect with modern HCPs and decision-makers, who have become more comfortable with remote work and digital communications, especially during the COVID-19 pandemic.

Personalization in Marketing

8/7/2023

Personalization in Marketing
McKinsey Article | July 2023

The article explains what personalization is, why it matters, and how companies can implement it effectively. It is based on a survey of 60 shoppers, as well as interviews with industry experts and leaders.

Personalization is the use of data to tailor messages to specific users' preferences. It can create positive experiences that make customers feel special and increase their loyalty and satisfaction. It can also reduce customer acquisition costs, lift revenues, and increase marketing ROI.

However, personalization is not easy to do well. Customers have different needs and expectations, and they can be annoyed or creeped out by irrelevant or intrusive messages. Companies need to balance the frequency, timing, and content of their messages, and respect the customers' privacy and consent.

Four tips for effective personalization, based on what customers said they wanted from brand interactions:

Give relevant recommendations that complement what customers have already browsed or bought, and avoid reminding them of items they have already rejected or purchased.
Talk to customers when they are in shopping mode, and avoid interrupting them when they are busy or distracted. Use triggers such as location, time, or behavior to determine the best moment to reach out.
Recognize customers for their loyalty and reward them with exclusive offers, discounts, or perks. Make them feel valued and appreciated, and avoid generic or impersonal messages.
Show customers that they are understood and respected, and avoid making assumptions or judgments based on their data. Ask for feedback and preferences, and allow them to opt in or out of communications.

link to article

Personalization is a strategic opportunity and a competitive advantage. HCPs prefer specific channels and a personalized communication by pharma companies. AI and machine learning algorithms are able to predict the channel preference and preferred communication style for each HCP. Precise data at doctor level helps sales representatives and marketing departments to drive relationship and growth.

Elevating customer understanding with AI

14/3/2023

Advanced digital HCP segmentation
Deloitte Whitepaper | March 2023

Life sciences companies can use advanced digital segmentation to improve their customer engagement and marketing performance. Traditional segmentation methods based on demographic and behavioral data are insufficient to capture the complex and dynamic needs and preferences of healthcare professionals (HCPs) and key opinion leaders (KOLs). Results of a survey of 1,200 HCPs from different specialties and countries revealed that HCPs have different digital profiles and expectations.

Advanced digital segmentation can create value for life sciences companies by enabling them to:

Understand the digital journey and touchpoints of their customers
Deliver personalized and relevant messages and content across channels
Optimize the channel mix and resource allocation
Measure and improve the customer experience and satisfaction
Increase the customer loyalty and advocacy

A framework and methodology for implementing advanced digital segmentation in life sciences consists of four steps:

Define the business objectives and customer segments
Collect and integrate the data from multiple sources, such as CRM, web analytics, social media, and surveys
Apply advanced analytics and machine learning techniques to identify the digital profiles and preferences of the customers
Activate and operationalize the segmentation insights across the organization and the channels

Examples of successful advanced digital segmentation applications in life sciences:

A global pharma company that used advanced digital segmentation to increase its email open rate by 40% and its click-through rate by 20%
A European biotech company that used advanced digital segmentation to optimize its KOL engagement and increase its share of voice by 15%
A US medtech company that used advanced digital segmentation to personalize its web content and increase its conversion rate by 25%

LINK TO Article

Sales segmentation has come a long way from the traditional approach described above. Today, pharma companies benefit from AI driven predictions of HCP level sales potential. This precise segmentation at doctor level is particularly helpful when launching new products or branching into new therapeutic areas. With these insights, companies are able to roll out highly targeted sales and marketing initiatives.
In some cases (for example rare diseases) the majority of prescription will be driven by a handful of HCPs. Advanced AI algorithms are able to identify them - even before product launch.

Demystifying the omnichannel commercial model for pharma companies

17/8/2022

Omnichannel for pharma companies
McKinsey | January 2022

The article explains the concept and benefits of an analytics-enabled omnichannel commercial model for pharma companies in Asia. It addresses five common questions and challenges that pharma leaders face when adopting this model, and provides a four-step methodology for transforming HCP engagement via analytics.

An analytics-enabled omnichannel commercial model is a way of engaging healthcare practitioners (HCPs) across multiple channels and touchpoints, using data and advanced analytics to tailor and optimize the experience. The article argues that this model can create value for pharma companies by:

Improving HCP satisfaction and loyalty
Increasing commercial effectiveness and efficiency
Enhancing differentiation and innovation
Adapting to the changing needs and expectations of HCPs due to COVID-19

An analytics-enabled omnichannel commercial model can elevate HCP engagement, but many pharma companies are not sure where to start.
Analytics can transform the HCP experience to enable highest-impact engagements.
Predictions on initiation potential, growth potential, and impact of interactions—answering what is likely to happen in future through machine learning–powered predictive analytics.
Importantly, predictive performance can be boosted over time through data updates. Specifically, for an individual HCP or a microsegment of HCPs, the model can help predict a variety of scenarios at specific moments in time, such as the likelihood to initiate first patient, expect increased patient numbers with the prescription of interest, respond positively to reps’ face-to-face visits that are focused on benefits for a particular patient population, stem declining share, or start prescribing drug in the next six months.
Such insights guide optimization of sales-force deployment across HCP segments and prioritization of HCPs within a territory.

LINK to article

Data powered customer segmentation and omnichannel strategy is at the heart of many pharma companies.
As HCPs expectations increase in terms of personalized communication, pharma companies now have access to precise insights on channel preference and other HCP characteristics.
These tools are powered by AI and help to improve communication and sales effectiveness.
The technology allows doctor level insights to be produced within a few weeks. This compares with traditional approaches that took multiple months to complete.

Better health outcomes with AI

14/4/2021

Fierce Pharma article | September 2020

The article argues that artificial intelligence (AI) and machine learning (ML) can improve health outcomes without replacing doctors, by providing personalized and tailored recommendations based on individual needs. It criticizes the current approaches of using AI and ML in healthcare, which often fail to serve large groups of patients and individuals with unique health needs, and only focus on improving the system and making more money for insurers, hospitals and pharmaceutical companies.

AI and ML should be used to directly serve patients and put them back at the center of care, by offering value-added services such as:

Providing an annotated transcript of every doctor’s visit and extracting details about treatment plans, medication regimens and future appointments
Tracking symptoms and providing nudges and incentives to help patients stick to their treatments
Helping patients access and understand their health data and records
Supporting patients in understanding their health, weighing treatment options and navigating important medical decisions

Evidence from other sectors and regions shows the positive impact of AI and ML on customer satisfaction and business performance, and highlights the growing digital sophistication and preference of patients in the US. It also provides examples of companies that are using AI and ML to make healthcare more accessible and affordable to patients.

Healthcare organizations can leverage AI and ML to empower patients to take greater control over their health, and to foster a culture of innovation and learning across functions and teams.
https://www.fiercehealthcare.com/practices/industry-voices-ai-doesn-t-have-to-replace-doctors-to-produce-better-health-outcomes

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