Closed-loop Marketing to become a legitimate business category and be taken seriously by the pharmaceutical industry must evolve from its current focus on technology and tablet-based detailing.
2. Will Pharma Closed-loop Marketing be a FAD or TREND? For Pharma Closed-loop Marketing to become a legitimate business category the market offerings of the principle CLM vendors will have to evolve. Will Closed-loop Marketing be a... or FAD TREND
19. Pharma CLM Buying Dynamics are Changing 1998 to 2009 “Buy the Sizzle” 2010 “How about some Steak with that Sizzle?”
20. Pharma CLM is at the Chasm Skeptics Conservatives Visionaries Pragmatists Technology Enthusiasts Bored with the Simplicity - New Functionality Won’t buy the Sizzle - Will need to see the Steak The Chasm Decreased perceived opportunity Increased perceived risk Increased perceived opportunity Decreased perceived risk
21. Pharma CLM Buying Dynamics Will Change: Key Characteristics of Next Sales Targets Pragmatists & Conservatives Technology Enthusiasts & Visionaries Have bought into CLM Have yet to buy-in into CLM Prudent Wait and see attitude Expect relationships Management expectations Spend to budget Adventurous Early buy-in Go it along Think big Spend big These 2 groups are not compatible
22. Reasons to Buy – Be More Compelling … use technology that helps extend average call time from 96 seconds to 5 minutes … bring a core visual aid “to life” for Physicians who just don’t get how our product is differentiated … provide instantaneous feedback to the brand team and sales leadership on all calls … significantly reduce the administrative burden associated with recording actions/outcomes for each call? … receive new information or materials from the brand team to be shared with the physician as soon as available … reduce the hassle of ordering, carrying, and delivering paper-based materials … rapidly deliver different messages to multiple target audiences without confusing the sales force … effectively deliver differentiated promotional aids/materials/reprints to specific physician segments … be absolutely certain about field compliance and accuracy in recording calls … ask a target group of 1000 physicians a specific market research question, and get the answer from them within a day … receive insight/feedback in near real time
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24. Refine& understand - target customer’s whole problem - providing a compelling reason to buy
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27. Time for the Pharma CLM Category to Split? The Law of Division... ...with time, a given category will split, and become two, or more categories.
28. Other Category Splits – Profound Impact? Expanded from hardware to services 88 acquisitions 1999-2010 stock price ($49.31 - $129.26) Forcing others to follow:
29. Expanding the Pharma CLM Opportunity A Model for Developing The Whole Product Customer Portfolio Management Value Proposition Reward/Risk Sharing Value-added Role Refers to the creation of, and management of, customer relationships. Your contribution to the customer’s value chain or total experience. How buyers and seller interact in the relationship. How you create added value and deliver it to the customer. Source: Customer Connections: New Strategies for Growth
30. Expanding the Pharma CLM Opportunity: Plotting the Current Pharma CLM Model Current Potential