From October 6th to 8th Trilations participated in the annual Pharma Commercial & SFE and Digital Marketing & CEM Summits in Berlin.
During an inspiring three-day program more than 30 speakers from almost all key players in the pharmaceutical industry presented cases on topics such as sales force effectiveness, customer centricity, business intelligence, multi-channel strategies & digital marketing. The conference therefore offered a valuable glimpse into how pharmaceutical companies are currently tackling these two important topics: commercial excellence and multi-channel strategies.
We are happy to share our 3 KEY TAKE-AWAYS from this conference.
Multi-channel strategies are not in the DNA of pharma companies yet
Most pharma companies realize that a multi-channel strategy needs to become a part of daily life. Establishing multi-channel divisions or teams can be a first step, but in the end multi-channel thinking needs to become an integrated part of brand teams, medical departments, etc. Despite realizing this, all participants agreed that the pharmaceutical industry still has a long way to go in this respect. The ambition of getting multi-channel into the DNA of organizations is still far from being realized.
The holy grail of optimal channel mix design has not been found yet
To date, all pharma companies are still struggling with identifying an optimal channel mix.
When designing an optimal channel mix several elements need to be taken into account, such as:
- impact of a channel
- cost per contact
- customer preferences
- number of customers that can be reached through a channel
Several speakers focused on some of these optimization elements in their presentations. However, despite the speakers’ ability to identify pieces of the puzzle nobody was able to propose a solid solution on how to fit them all together to design an optimal channel mix.
Getting the ball rolling is the first step in the multi-channel game
One of the main reasons for the slow uptake of multi-channel initiatives is the “wait-and-see attitude” that many pharma companies adopt. Pharma companies seem to be playing a waiting game where they first want to collect all the pieces of the multi-channel puzzle and want to design a complete instruction manual on how to fit them together before real action is being taken. Many of the presenters’ success stories demonstrated that getting the ball rolling, learning by doing and adjusting strategies based on advancing insights is the more successful way forward.
With these key takeaways in mind, we are confident in having created a unique multi-channel tool: Our recently developed T-App interaction module, which offers the possibility to design an optimal channel mix, can help pharma companies in getting a few steps up on the multi-channel maturity curve.
Our approach provides an answer to the 3 take aways described before:
- It is intended to be used by multi-disciplinary teams and can act as a multi-channel change-agent. It has the ability to mobilize teams, put multi-channel customer interactions on the agenda and fuel the multi-channel discussion in the process.
- The tool has the unique ability to solve the multi-channel optimization puzzle. It fits all of the pieces of the puzzle together and designs an optimal multi-channel mix tailored to the users’ specific situation/environment. Hence, the tool offers pharma companies the ability to provide solid answers to important multi-channel business questions such as:
– How much do we need to invest (more) to reach a certain share of voice target?
– How can we optimize our communication budget spending?
– What is the impact of commercial versus medical channels?
– How much should we invest in digital channels?
– What is the optimal communication strategy given the (changing) competitive landscape?
- Finally, initiating a Trilations multi-channel optimization project using the T-app interaction module gets the ball rolling. It forces your multi-disciplinary teams to get started and to start thinking in a multi-channel way.
Curious about our multichannel service offering?
Hendrik Verplancke, business development manager
Please contact Hendrik Verplancke for any further information.