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Relationship Analytics: The power of customer networks
- 1. www.zephyrhealth.com It’s not what you know … it’s WHO you know Improving commercial decisions with customer relationship network insights
- 2. Marketing Age of Enlightenment 2 20%CUSTOMER ECOSYSTEM AVAILABLE TO BRAND AND MARKETING 56% NEED TO GET BETTER, DATA- DRIVEN SEGMENTATION 86% MARKETERS INVESTING IN A.I. OR MACHINE LEARNING
- 4. The importance of customer relationship networks 4 71% believe the behavior of an HCP or HCO is heavily influenced by their relationships with other HCPs / HCOs
- 5. Expanding Network Mapping Beyond Analog Views 5 Less than 30% analyze customer relationship networks to understand customer influence
- 6. A Tipping Point in Relationship Network Analytics 6 Top 3 areas of interest for respondents currently using digital or automated relationship/network insights
- 7. Customer relationship network information 7 Clinical trial co-participation (principal investigator/co-investigator) Publication co-authorship citation Common hospital roles/connections Shared professional societies/committees Common medical school attendance Shared/referred patients Sponsorship/grant funding collaboration Integrated delivery networks/system networks Customer relationship-related data respondents are currently able to analyze ~ albeit manually Customer relationship-related data respondents are NOT currently able to analyze
- 8. Digital Access to Influence Networks 8 Biggest challenges to getting digital or automated access to customer relationships and networks
- 9. Key Takeaways 9 Leveraging customer relationship network insights is critical as a go-to-market differentiator for brand initiatives Marketers need to go beyond current analog approach and embrace digital analytics Integrated data underpins and unlocks the power of customer relationship networks
Notes de l'éditeur
- Thanks Paul, and greetings everyone. I like to say for marketers, it’s now much more about WHO you know rather than what you know. So let me share a bit about how customer relationship network insights are shaping and improving commercial strategies and decisions.
- I call this the marketing age of enlightenment. Never like now have we had so much data at our fingertips, but for marketers, the problem isn’t about getting data, it’s about connecting the data and doing something meaningful with it. Today we want to view, track, and understand our customer’s journey across digital and personal channels, but, according to a recent recent eMarketer survey, brands are only able to see about 20% of their entire customer ecosystem. In order to truly put the customers at the heart of a marketing strategy., we have to be able to deliver messages to audience segments that are tailored to their known interests and their channel device preferences. Marketers are still struggling to implement data-driven segmentation and personalization – in fact, in another survey, 56% of in-house marketers say they need to get better at segmentation Source: Econsultancy and Adestra, April 2017 And, one of the key differentiators is going to be AI or machine learning, something that is a core competency for us here at Zephyr Health. In fact, according to a poll from marketing research firm Persado, 34% of UK and US retail marketers identify learning from past campaigns as a challenge and —86%— said they plan to invest in AI or machine learning this year.
- So, what do we mean by customer relationship networks, and how does this relate directly to Life Sciences? We are talking about specifically is how a company’s target customer is connected to other potential customers. In the world of life sciences companies, these relationship networks can include referring physicians, integrated delivery networks, shared patients, healthcare organizations, medical school colleagues, co-authors on publications or co-researchers – just to name a few!
- We recently conducted a survey of over 110 life sciences executives and overwhelmingly the respondents agreed that the behavior with regards to prescribing a treatment is heavily influenced by their relationships – with other healthcare professionals and/or organizations.
- But, while 71% of those surveyed believe in the importance of these relationships, less that 30% are actually using these insights to understand customer influence and drive their commercial strategies.
- So, the opportunity is to expand customer Network Mapping Beyond what is truly an Analog View today – mostly coming from field facing personnel sharing direct customer insights. The survey pointed to these areas as the top three for using digital insights to better understand and influence customers – determining early adopters, tracking treatment guideline decision makers, and identifying high volume referring physicians upstream.
- Finally, when asked what the challenges were to getting digital or automated access to the vast data elements that can trace customer relationship networks, respondents noted cost, availability of the data, and the time to implement the systems necessary to connect these.
- To wrap – here are the key takeaways from the survey, and also areas that we are focused on here at Zephyr Health.