The commercial pharmaceutical landscape faces new obstacles that render old sales and marketing strategies ineffective. Increased new launches, competition for smaller patient populations, and growth in the development of new therapies mean launches are expected to bring in less money and commercial teams have less time to establish these products in the market. .
The pandemic did not cause all of these problems, but it made them worse. Launches over the past two years show a 25% variance in monthly sales after the first six months compared to pre-pandemic launches,I and this gap is expected to continue through 2023. Sales teams are also facing growing demand for omnichannel engagement as healthcare professionals indicate a preference for digital interactions over face-to-face visits.
To adapt, sales teams need to fully understand market and competitive dynamics so they can quantify available market share, map the customer journey, and adapt their messaging and outreach methods to meet current and future patient needs. .
This level of precision cannot be achieved using old pitch manuals and generic sales techniques. This requires a personalized, data-driven approach that can only be achieved when sales and marketing teams have access to detailed information about the patient journey, healthcare professional preferences, and when patients are likely to seek treatment.
Data at your fingertips
All of this information is available through four modular solutions from IQVIA that leverage artificial intelligence/machine learning (AI/ML) and predictive analytics to provide real-time insights into the treatment journey that can inform every decision commercial teams. These solutions can be used individually or as a suite of interconnected solutions that guide every step of the business process.
- Population and patient journey: Patient Journey software uses artificial intelligence to characterize patient journeys in some of the largest databases of patients and healthcare professionals available in the world. Pharmaceutical companies can use the platform to define the patient journey, then apply those lessons across the population to predict which patients are likely to be diagnosed, start treatment, or transition to new therapies. The intuitive user interface provides real-time analysis covering over 60 unique dimensions of the patient journey. It helps sales teams forecast the size and geography of the patient population for more accurate planning and outreach.
- Smart targeting: Once business teams have identified anonymized patients who will benefit from treatment, Smart Targeting can be used to develop fast, comprehensive and up-to-date HCP profiles across franchises. It provides sales teams with a high-value customer dashboard based on multiple dimensions, including predicted patient opportunities. This is a critical step in the sales process as it allows sales teams to identify who is most likely to prescribe their medicine, and when, to maximize the impact of each outreach. As sales forces shrink and specialize, this level of precision will be critical to achieving their sales goals.
- HCP Alerts*: When US commercial teams focus on new targeted therapies with narrowly defined patient populations, they need their brands to be presented to the right physician with the right message at the right time. HCP Alerts makes this possible. It enables users to identify patient opportunities in real time, with high accuracy, by continuously analyzing a database that covers 270 million US patients, 90% of retail prescriptions, and 70% of healthcare professionals. health. The system continuously monitors the HCP dashboard and sends automated alerts to sales and marketing teams when a new HCP is identified or someone on the list is about to diagnose or treat a patient of interest. Sales reps can proactively contact physicians before a medical event or decision occurs, ensuring they deliver relevant messages when they will have the greatest impact. Sales teams also use data to prioritize and personalize their reach, which can improve competitiveness, increase brand performance, and improve patient outcomes.
- Next best: IQVIA’s Next Best platform uses real-time data to suggest the Next Best action a representative can take to have the biggest impact on sales performance. It doesn’t just offer generic advice, like who to call next. The platform uses AI to monitor granular details about each healthcare professional and their patient populations, including things like where they went to school, what articles they wrote , their past treatment decisions for patients of interest, and the types of marketing content they are likely to use. get engaged with. This insight enables sales teams to prioritize their activities and deliver a unified, personalized omnichannel experience to each customer to maximize brand impact.
How to choose
Each of these solutions adds value at points in the business cycle. But the most innovative companies are looking to combine two or more of these tools to support their sales teams and extract more value from their outreach efforts.