Creating Common Points of Reference: Expert Insight into Closed Loop Marketing
The sign on many physicians’ doors says it all: “The doctor no longer sees sales reps.”
A growing trend amongst health care professionals (HCPs) frustrated by traditional marketing that, at times, saturates their day with repetitive messages and little that is new, the closed door policy held by 20 per cent of doctors is having an undeniable impact on pharma sales and marketing.
Sales teams are shrinking. Marketing is scrambling for leverage in a hyper-competitive industry increasingly dominated by generics and biosimilars. In short, says Alex Butler, Communications Manager for Janssen Cilag, “the landscape has changed forever in pharma, as our customers live their lives as high end consumers in a world where intrusion marketing is dead.”
Dead—but not yet buried. As traditional sales and marketing models slowly become redundant or morph into new strategies, 28 per cent of pharma companies are already using full Closed Loop Marketing (CLM), a way to strategically cross-reference data collected by both sales and marketing to deliver what HCPs really want and need, faster and more effectively than ever before. By moving away from “mass produced detail and scripted sales calls,” says one observer, CLM “develops relationships based on trust and transparency.”
Described as a way to find common points of reference between sales, marketing and clients, CLM has long been used by the finance industry, but is only now finding its feet in pharma. Already enjoying some successes as well as speed bumps, CLM is both opening a window onto pharma sales’ future—and closing a door on its past.
Key insights from experts in the field
In FirstWord’s compelling new report, the emerging strategy of CLM is described and dissected by those who know it best—the marketers, project managers and software suppliers who have already employed the technology-ready strategy to successfully increase not only physician access and uptake, by message compliance by sales reps. Based on interviews with 13 leading industry voices, the report examines how CLM works, key strategies for its planning and implementation as a single and multi-channel approach, and the business drivers accelerating its adoption. By delving into existing marketing strategies and reviewing the statistical evidence of their successes, the report offers a full guideline on best practices, initiation strategies and perhaps most importantly, an insight into how CLM can change the way the pharmaceutical industry engages health care professionals.
The report investigates the CLM environment to assess:
The report
Comments from the report
CLM is “a process that ‘closes the loop’ between marketing, sales and physicians and measures campaign results through tracking and acting on responses. It enables companies to leverage the representative as one customer touch point and delivers a tailored and needs based message built from information gathered on prior interactions.” Michele Lesueur, of CML Marketing at Novartis Oncology
“Closed Loop Marketing is a strategic approach that leverages personal relationships between customers and sales reps to make communication more relevant to target audiences through digital channels and media, thereby driving frequency and impact of messages.” Carl Engelmarc, Director of Refreshed Wellbeing
“I think pharma is behind most other industries, certainly those within financial services. For example, we often have unsophisticated targeting systems based on data often 18 months old. We also use a segmentation process that is out-dated in a world where customers expect individual needs met with individual solutions.” Alex Butler, Communications Manager at Janssen Cilag
A growing trend amongst health care professionals (HCPs) frustrated by traditional marketing that, at times, saturates their day with repetitive messages and little that is new, the closed door policy held by 20 per cent of doctors is having an undeniable impact on pharma sales and marketing.
Sales teams are shrinking. Marketing is scrambling for leverage in a hyper-competitive industry increasingly dominated by generics and biosimilars. In short, says Alex Butler, Communications Manager for Janssen Cilag, “the landscape has changed forever in pharma, as our customers live their lives as high end consumers in a world where intrusion marketing is dead.”
Dead—but not yet buried. As traditional sales and marketing models slowly become redundant or morph into new strategies, 28 per cent of pharma companies are already using full Closed Loop Marketing (CLM), a way to strategically cross-reference data collected by both sales and marketing to deliver what HCPs really want and need, faster and more effectively than ever before. By moving away from “mass produced detail and scripted sales calls,” says one observer, CLM “develops relationships based on trust and transparency.”
Described as a way to find common points of reference between sales, marketing and clients, CLM has long been used by the finance industry, but is only now finding its feet in pharma. Already enjoying some successes as well as speed bumps, CLM is both opening a window onto pharma sales’ future—and closing a door on its past.
Key insights from experts in the field
In FirstWord’s compelling new report, the emerging strategy of CLM is described and dissected by those who know it best—the marketers, project managers and software suppliers who have already employed the technology-ready strategy to successfully increase not only physician access and uptake, by message compliance by sales reps. Based on interviews with 13 leading industry voices, the report examines how CLM works, key strategies for its planning and implementation as a single and multi-channel approach, and the business drivers accelerating its adoption. By delving into existing marketing strategies and reviewing the statistical evidence of their successes, the report offers a full guideline on best practices, initiation strategies and perhaps most importantly, an insight into how CLM can change the way the pharmaceutical industry engages health care professionals.
The report investigates the CLM environment to assess:
- Current CLM practices and what some companies are doing to implement them
- Point-by-point advice on everything from metrics and ROI to critical success factors
The report
- Examines the efforts by leading CLM implementers to assess its potential in pharma
- Reviews the key strategies undertaken for single and multi-channel CLM
- Offers unparalleled insights from 13 leading CLM experts—in their own words
- Overviews statistical results of electronic (tablet PC) sales aid evaluations at both pilot and full deployment stages
- Summarizes the pros and cons of CLM programs
- Includes a complete review of data-gathering metrics and ROI employed by numerous marketers
Comments from the report
CLM is “a process that ‘closes the loop’ between marketing, sales and physicians and measures campaign results through tracking and acting on responses. It enables companies to leverage the representative as one customer touch point and delivers a tailored and needs based message built from information gathered on prior interactions.” Michele Lesueur, of CML Marketing at Novartis Oncology
“Closed Loop Marketing is a strategic approach that leverages personal relationships between customers and sales reps to make communication more relevant to target audiences through digital channels and media, thereby driving frequency and impact of messages.” Carl Engelmarc, Director of Refreshed Wellbeing
“I think pharma is behind most other industries, certainly those within financial services. For example, we often have unsophisticated targeting systems based on data often 18 months old. We also use a segmentation process that is out-dated in a world where customers expect individual needs met with individual solutions.” Alex Butler, Communications Manager at Janssen Cilag
EXECUTIVE SUMMARY
THE PHARMACEUTICAL LANDSCAPE HAS CHANGED FOREVER
DATA SUPPORTS THE CHANGING LANDSCAPE AND CHANGING NEEDS OF HEALTHCARE PROFESSIONALS
EVOLVING PHARMACEUTICAL SALES AND MARKETING MODELS
DEFINING CLOSED LOOP MARKETING
IS CLOSED LOOP MARKETING BEING ADOPTED BY PHARMACEUTICAL COMPANIES?
IMPLEMENTING CLOSED LOOP MARKETING IN THE PHARMACEUTICAL SECTOR
CLOSED LOOP MARKETING INITIATION – SHOULD IT BE LED BY SALES REP OR OTHER CHANNELS
IS CLOSED LOOP MARKETING THE ANSWER TO DECLINING EFFECTIVENESS OF THE SALES FORCE CHANNEL?
HOW OTHER INDUSTRY SECTORS HAVE IMPLEMENTED CLOSE LOOP MARKETING
A REGIONAL BUSINESS MANAGERS VIEW OF IMPLEMENTING CLOSED LOOP MARKETING
BARRIERS FOR EFFECTIVE CLOSED LOOP MARKETING IMPLEMENTATION
CLOSED LOOP MARKETING CONTENT
CRITICAL SUCCESS FACTORS
BENEFITS OF CLOSED LOOP MARKETING
METRICS AND ROI
ELECTRONIC SALES AID EVALUATION FOR THE PILOT STAGE
MAIN FINDINGS MOVING FROM THE PILOT TO A FULL DEPLOYMENT
ELECTRONIC SALES AID EVALUATION FOR THE FULL DEPLOYMENT
SUMMARY
APPENDIX
CONTRIBUTORS
INDEX
THE PHARMACEUTICAL LANDSCAPE HAS CHANGED FOREVER
DATA SUPPORTS THE CHANGING LANDSCAPE AND CHANGING NEEDS OF HEALTHCARE PROFESSIONALS
EVOLVING PHARMACEUTICAL SALES AND MARKETING MODELS
DEFINING CLOSED LOOP MARKETING
IS CLOSED LOOP MARKETING BEING ADOPTED BY PHARMACEUTICAL COMPANIES?
IMPLEMENTING CLOSED LOOP MARKETING IN THE PHARMACEUTICAL SECTOR
CLOSED LOOP MARKETING INITIATION – SHOULD IT BE LED BY SALES REP OR OTHER CHANNELS
IS CLOSED LOOP MARKETING THE ANSWER TO DECLINING EFFECTIVENESS OF THE SALES FORCE CHANNEL?
HOW OTHER INDUSTRY SECTORS HAVE IMPLEMENTED CLOSE LOOP MARKETING
A REGIONAL BUSINESS MANAGERS VIEW OF IMPLEMENTING CLOSED LOOP MARKETING
BARRIERS FOR EFFECTIVE CLOSED LOOP MARKETING IMPLEMENTATION
CLOSED LOOP MARKETING CONTENT
CRITICAL SUCCESS FACTORS
BENEFITS OF CLOSED LOOP MARKETING
METRICS AND ROI
ELECTRONIC SALES AID EVALUATION FOR THE PILOT STAGE
MAIN FINDINGS MOVING FROM THE PILOT TO A FULL DEPLOYMENT
ELECTRONIC SALES AID EVALUATION FOR THE FULL DEPLOYMENT
SUMMARY
APPENDIX
CONTRIBUTORS
INDEX
