5 Ways to Assess the Gaps in Closed-Loop Marketing for Pharma
If you can’t improve future interactions based on the data you’ve collected previously using your closed-loop marketing technology, it’s time for you to rethink the entire process.
Since 2011, pharma aggressively pursued closed-loop marketing (CLM) as their main promotional marketing activity. CLM technology enables reps to deliver compliant, scripted content to healthcare providers (HCPs) from tablets. Conceptually, closed-loop marketing for Pharma is supposed to collect data about each physician’s interaction giving brand marketers insight so they can refine their marketing strategy. A Gartner Research report indicates this isn’t happening. If you’re unable to improve future physician interactions with your CLM, you should assess the gaps in your process.
Here are 5 ways to assess the gaps in your closed-loop marketing process:
1. Assess Whether the Data from Your CLM Is Actionable
What are you currently doing with the data you’re capturing? Most likely, it’s an input to semi-annual call planning or, worse yet, emailing spreadsheets of data with buried customer insights. To draw insights from customer interactions, the data has to be actionable. Start by determining what you want to DO with the data.
2. Assess Whether You Have Objectives Tied to the Data Captured in Your CLM
Without clear, defined objectives you don’t know what you’re working toward. If the data you’re capturing isn’t deriving HCP preferences then why are you collecting it? What data do you need to capture to support your objective? Identify data aligned with your objectives (rather than collecting data on everything), develop corresponding reports for those metrics and then draw some inferences.
3. Assess Whether You’re Capturing HCP Preferences
In a perfect world, your reps use CLM to get accurate, up-to-date data about a physician before each visit, allowing them to tailor product information to match each physician’s profile and interests. Are your reps effectively capturing data from interactions? Are you able to capture enough about HCP preferences in order to tailor product information? Or is marketing forcing what product information reps present? Physicians don’t want a ‘canned product pitch’; they want information to help them make better decisions when they treat patients. They want to have intelligent conversations about their patients’ needs. If you’re not allowing physicians to guide what information is discussed during a face-to-face meeting with your rep, how will physicians get the information they need?
4. Assess Whether You’re Improving Interactions
If you can’t improve future interactions based on the data you’ve collected previously using your closed-loop marketing technology then it’s time for you to rethink the entire process. Start by defining goals. Focus on what your customers need based on the information you’ve gathered through market research. Ideally, these goals should be tied to the performance goals for your brand so all tactics within your strategy align to the common goal.
5. Assess Whether Your Closed-Loop Marketing Solutions Have Predictive/Prescriptive Analytics
Predictive/prescriptive analytics are excellent tools to make data actionable. Gartner’s report suggests predictive modeling as a way to use your interaction data to make actionable recommendations in the ‘last mile’ of the buying cycle. In other words, put data in the hands of the reps so they can use it in real time. Provide suggestions to the reps so they can decide how to best interact with customers. Use the data being collected, in real time, to shape future interactions with customers…thereby closing the loop.
If you have gaps in your CLM process, you’re not closing the loop. Closing the loop between your sales and marketing activities is possible – it’s a matter of changing how you approach it.