In our last article we looked at the need for multi-channel excellence in the healthcare industry. We already know that many pharmaceutical executives are looking into adopting a multi-channel strategy for cost controls and as a top priority for future growth, but the need goes much deeper than that.
Today’s article builds off our previous discussion and reveals the benefits of using a multi-channel approach for your pharma sales and marketing communications, as well as tactics for implementing a multi-channel strategy today.
Click Here to learn why a multi-channel strategy is a must have for pharma sales and marketing.
The Benefits of Multi-Channel Strategy for Pharma Sales and Marketing
Mitigating the trends and challenges detailed in the previous post are in fact the primary benefits of implementing a multi-channel strategy, but they aren’t the only benefits.
Multi-channel strategies employ a system for segmenting and targeting the audience with appropriate communications while empowering customers to make the right decision on their own. The traditional pharma sales and marketing approach is actually damaging future opportunities for growth and customer engagement.
A Look Back on Traditional Pharma Sales and Marketing
In the 1990’s, the pharma industry was in a period of rapid growth and mass-market expansion. Physicians were plentiful, new product innovation and approval was growing, but the flow of information was lagging. The industry needed a sales model that reflected broad distribution of as many products as possible to the greatest number of potential buyers. The industry needed a ‘product-focus’ (Source: PharmaField, 2007).
In the 2000’s, things started to change. Government regulations and legislations were being implemented - channels became more complex for sales and approvals. At the same time, sales forces grew exponentially and healthcare provider (HCP) interactions were beginning to create clutter and noise in the market. HCPs had less time for sales presentations, and products became more complex to communicate as specialized healthcare solutions entered the market. The industry adopted a relationship-focused approach that attempted to build long-term trust-based relationships with HCPs (Source: PharmaExec, 2001).
In the 2010’s, information availability and self-directed Care Flow journeys have led to a sharp decline in HCP availability (continuing the trend from the 2000’s), meanwhile HCPs are less trusting of industry communications, and the majority now migrate to online communities for information. Specialty medicines have been on the rise – increasing healthcare costs and complicating sales; there has also been a shift in the types of communications and channels that HCPs prefer. The industry needs a ‘patient-centric’ approach that rewards outcomes, controls costs, and enables HCPs and patients with the engagement format they desire.
(Image source: Boston Consulting Group, 2014)
From the graph above, we can see an illustration of what happens to the typical product life cycle and adoption curve of healthcare industry products as a result of the prevailing sales tactics and trends. Continuing to apply the traditional approach, rather than adopting a multi channel sales actually leads to increased costs, decreased selling time, and fewer sales.
The surge of the 90’s seems to be a one-time major event for the healthcare industry, and returning to the high-demand high-volume in-person sales model seems unlikely given the new trends.
Current Results from a Multi-Channel Approach,
In an earlier post we covered a story from BCG Perspectives regarding different multichannel strategies implemented at a major multinational pharmaceutical company – click here to read that story.
PM360 found that multi-channel strategies led to:
- More peak sales;
- Maximized sales during the patent period;
- More budget flexibility;
- Sustained mindshare (general public awareness) after patents expired;
- Better educated customers; and
- More dynamic company information.
(Image Source: PM360, 2015)
How to Achieve Multi-Channel Reach in Healthcare
As we can see, it’s easy to make an argument in favour of multi-channel outreach for the healthcare industry, but how do we get there?
Step 1 – End-to-End Evidence
As we’ve explained before, the end-to-end (E2E) evidence approach to healthcare is paramount from the very beginning. E2E tactics prepare all content and materials well in advance of the product release, and help to speed up the approval process as many HCPs desire phase-4 studies, information about long-term effects, chemical interaction facts, etc.
Step 2 – Account Based Primary Outreach
Following the Boston Consulting Group approach we discussed earlier, early launch phases should focus on your most valuable clients, and will likely use an account-based marketing approach with a mix of in-person, digital, and traditional outreach. Your top prescribers/buyers have deep relationships and connections with your pharma sales reps, and that make them appropriate targets.
Step 3 – Inbound Digital Content Marketing Approach
From the moment you enter the growth phase straight through to the end of the product life cycle (PLC), an inbound approach to pharma sales and marketing will enable cost controls through a digital sales process. Making the solution discoverable during every buyer decision journey stage is achieved with content that adds value at each stage. This approach cuts down on costly sales presentations, and increases tandem collaboration between home office call center operations and field engagement.
By the growth phase, field reps are passively engaging HCPs in their offices, while actively engaging requests through all channels, and collaborating with marketing and inside sales teams. You end up with fewer field PSRs that work smarter, not harder, and achieve more engagement with less effort.
End-to-End Sales and Marketing Automation in Healthcare
Inbound tactics don’t need to be complex, nor do they require a huge team of in-house IT specialists. The right mix of marketing and sales technology makes it possible to automate the digital transformation in healthcare sales and marketing. To learn more about how to achieve end-to-end automation, click here.
Sales Multi-Channel Outreach in Healthcare,
In the last article and history discussed above, we’ve revealed that healthcare sales reps need a multi channel marketing platform that enables them to close the digital divide, before their company is able to catch up with inbound tactics.
The solution is to use a healthcare sales enablement platform that eliminates device restrictions and allows the healthcare sales rep to address the current needs of HCPs while being prepared in advance for the shift to an inbound approach.
At SKURA, we work with the healthcare industry to create multi-channel excellence among the sales force, unlocking end-of-funnel analytics and integrating business operations for a closed loop marketing experience from day one. This is how we helped Urgo Laboratoires improve their sales interactions while eliminating 2 hours of ‘dead time’ per rep, per day. Download the case study to learn more.
Close the Digital Divide and Request a Demo
If you’re interested in taking SKURA for a test drive, request a demo below and let our sales specialists show you just how easy it is to implement multi-channel strategy worldwide.
