Report: Omnichannel advice for the life science industry
In the latest issue of Delta magazine, our Medical, Marketing, and Consulting experts share their practical advice for creating meaningful omnichannel stakeholder experiences and reveal our proprietary tool for measuring omnichannel maturity.
In the healthcare sector and beyond, the adoption of digital tools and novel analytics has exploded. However, unlike many consumer industries, biopharma, medical technology, and wellness companies have struggled to build meaningful personalized customer experiences.
Today, biopharma and med tech executives are faced with numerous channels, novel technologies, and a high volume of data. They struggle to navigate a world in which the role of the sales representative is changing and the face-to-face interactions they relied on until now have declined in importance.
The increase in drug launches and growing competition across therapy areas has made it challenging for brands and organizations to stand out from the crowd. While the number of drugs approved by the FDA has increased significantly in the last 5 years, average peak sales have declined since 2010. Additionally, in 2020, pharmaceutical organizations spent 40% more on marketing than research but reported marketing‑content wastage of up to 30%, costing millions of dollars.
It’s clear a new approach is needed to build more meaningful relationships that translate into return on investment for brands and portfolios.
The customer’s needs and preferences are changing at lightning speed. The hierarchy of engagement has transformed, disrupting the dynamic between patients and healthcare professionals.
Empowered patients require more information in digestible formats that present a clear and connected story to take to their appointments with clinicians. As treatments become more complex and our understanding of diseases becomes more nuanced, patients will have complex questions and look to multiple sources to find the answers. Moreover, the emergence of new disease‑monitoring technologies has empowered them to take a more active role in developing their disease management plan.
In turn, time-poor healthcare professionals require more meaningful and relevant content at the right time, which helps them better partner with the patient to make the right decisions faster.
Meeting these stakeholders’ needs requires a more agile omnichannel approach that delivers personalized experiences and engagements and addresses specific customer pain points, across any channel, at the moments that matter across their treatment journey.
What are omnichannel experiences?
Omnichannel experiences are dynamic and meet the stakeholder’s needs seamlessly at a variety of touchpoints. While multichannel campaigns consist of communicating similar messages across several channels, omnichannel experiences provide the most relevant content at the right point in the stakeholder’s journey. Importantly the content is not channel‑specific—it is tailored to the individual’s requirements, challenges, and aspirations.
Through these meaningful experiences, brands can build a better relationship with the customer, becoming a valued partner for overwhelmed but knowledge-hungry healthcare professionals and the patients and caregivers they serve.
Kick-starting omnichannel transformation
Building an omnichannel experience is easier said than done. It requires transformation internally and the adoption of new strategies externally to meet customers’ shifting demands. However, many biopharmaceutical companies are not set up to deliver a seamless customer experience. Omnichannel transformation requires deep data and insights, integrated technology, agile processes, as well as upskilling team members with the right expertise.
While implementing an omnichannel approach can feel overwhelming, once the foundations are in place, a wealth of opportunities emerge for personalized experiences that exceed the target stakeholder’s expectations.
In this publication, our experts in medical affairs and marketing have collaborated to provide insights, tools, and practical tips to help kick-start the journey to omnichannel transformation.
Download the magazine to:
- Learn the foundations of omnichannel transformation
- Measure your omnichannel maturity with our proprietary tool
- Embrace a modular approach to content development
- Drive personalization in a world of stricter privacy laws
- Empower medical affairs and marketing teams to develop sustainable experiences
- Develop digital native brands