“The future is already here – it’s just not very evenly distributed yet.” (William Gibson)
The Pharma industry customer value chain is complex. Over the last decade, the marketplace dynamics related to customers, competitors and technology have added to this complexity. As a result, Pharma’s access to and engagement with their customers has become even more difficult and costly to realize.
While the role of sales reps has diminished, personal promotion is still the biggest budget item and the mainstay of how Pharma reaches their customers. According to ZS Associates, in the US alone, about $1 billion per year is spent on unsuccessful attempts to see physicians. The key issue for Pharma Marketers: How to reduce engagement gap with customers -- improve ROI and accelerate sales performance?
Pharma industry increasingly looks at the data to drive better performance, but the challenge of making sense of unstructured data and gathering insights to take meaningful action is still huge. It is critical that all efforts are focused, targeted and aligned to drive the customer engagement and experience.
An effective sales process is all about changing customer attitudes and behaviors. Although inherently human, sales efforts are being further improved with man and machine collaboration and integrating machine learning to process data in real-time to make timely/educated decisions. Therefore, AI - Augmented Intelligence has become increasingly important in linking the content with the customer - improving the quality and impact of experience.
Successful companies actively use data and insights, from and about their customers, to understand and improve the delivery of the right content for the right customer at each interaction… positively and cost effectively improving transition of customers through each stage of the sales journey. The use of data and insights, i.e., enabling relevant, timely and data-driven customer insights, is the integral part of the strategy that shifts a one-size-fits-all messaging approach to a truly personalized experience.
Many Pharma companies have a challenge in effectively aggregating and leveraging data and insights to inform content recommendations. They are frustrated that it takes far too much time and costs too much to create or update digital content. Sales teams often have outdated content to use with their customers, resulting in ineffective messaging.
The power of AI is incorporated into SMARTContent SuiteTM by VIIHEALTH which enable the sales and marketing ‘supply chain’ to deliver the right content to the right customer. This empowers multi-channel segmentation and recommendations that are both actionable and impactful, helping Pharma marketers enhance their sales effectiveness and driving better engagement to accelerate commercial performance.
A deep level of tagging content is powered by tracking of all live customer interactions to monitor message delivery performance. Real-Time SmartRep Reports inform and empower sales teams to engage customers. These reports easily combine CRM utilization with external data. The AI based HUBDATA Intelligence Engine aggregates various marketplace datasets into a central repository and leverages the insights to make content recommendations directly accessible by marketers and sales teams, right when and where they need it – easily, quickly and cost-effectively: Resulting in elevated performance.
While there are ongoing technology advances and innovation in the AI field to create many new possibilities in the future, you can get a head-start on the journey: Augmented Intelligence is here for you to harness to accelerate brand performance today!