Commercial Excellence Life Vision 3.0

Transcription

1 WHITE PAPER Commercial Excellence Life Vision 3.0 This document contains information specific to Interactive Medica. This document is protected by copyright laws and the information contained herein shall not be reproduced or distributed in whole or in part, under any circumstances without the prior written permission of Interactive Medica. Names of Interactive Medica, products, and services are either trademarks or registered trademarks of Interactive Medica Interactive Medica

2 WHITE PAPER 02 Contents A challenging time for Life Science 03 How did we get here? 04 Life Science CE 1.0 Life Science CE 2.0 Life Science CE 3.0 Digitalization Multi-channel Combining content & people - Where the magic happens Building Life Vision Plan: Business Planning/(Key) Account Management 06 Document-driven - Really?!? What comprises a plan? What do we ask of a plan? Engage: with multi-channel campaign management 08 Context as much as content What is a (multi-channel) campaign? Create consistent customer experiences across all channels Analyze: before (during and after) action - Continuous improvement 09 Single version of the truth Dimensions & measures Implementing business rules & management by exception Insights proactively driving changes in behaviour... Action! Open door policy : All information in one place Conclusion Interactive Medica

3 WHITE PAPER 03 It s evident that a number of different conversations need to occur between different people at different times as part of that engagement process A challenging time for Life Science Regular adjustment in healthcare legislation (and funding) and advances in medicine have resulted in restructuring in healthcare provision (and procurement) as well as diversification and specialization in life science. Commercial models and engagement must embrace a new level of sophistication; one which is reflective of all stakeholders from the patient to prescribers, scientific and technical experts, financial and economic experts, regulatory and compliance experts. The conventional wisdom was the prescriber was the customer, now it s evident what is needed is an engagement, rather than sales, process which embraces stakeholders across multiple organizations, including prescribers certainly, but also several others too. Furthermore it s evident that a number of different conversations need to occur between different people at different times as part of that engagement process. Conversations about: Science and outcomes Health economics Fulfillment and logistics Regulatory compliance Pricing and reimbursement and more To support these sophisticated engagement processes, a life science company needs to orchestrate multi-disciplinary teams of highly skilled subject matter experts: Mega-factors impacting Life Science External Funding, payers and market access barriers Prescriber clinical freedom reducing Centralized procurement & decision making Internal Portfolio change (e.g. customer v brand centricity) Competitive pressure on the upswing Sales complexity: more sophisticated selling Multi-disciplinary working Customer consolidation Clinical pathways changing

4 WHITE PAPER 04 How did we get here? Interactive Medica has identified three distinct phases as Life Science companies have looked to go to market with their commercial excellence (CE) strategy Life Science CE 1.0 Back in the 1.0 world, Life Science companies recognized the ultimate decision-maker in healthcare provision was the practitioner or prescriber and thus it made a lot of sense to deploy field-based representatives in large numbers to engage with those on a face-to-face basis frequently. Life Science CE 2.0 In the 2.0 world, Life Science companies woke up to the idea of Customer Relationship Management. Recording face-toface and other encounters became paramount as Life Science companies looked to correlate share-of-voice (mind) with sales through frequency and coverage. Life Science CE 3.0 So here we are in the 3.0 world. What does it mean and does it matter? While face-to-face interactions with healthcare practitioners continue to bring value in the 3.0 world, there is recognition that brand decisions now extend significantly beyond the prescriber to bring together loosely connected subject matter experts in such areas as procurement, reimbursement, healthcare economics, regulatory compliance, science and medical affairs and more. Furthermore Life Sciences are dealing with a diversified multi-country strategy complicated with acquisitions and local market conditions as well as a brand strategy that covers a spectrum from generics to highly specialized. To succeed in the 3.0 world needs sophistication, planning and key execution capabilities that have emerged and continue to develop at a pace.

5 WHITE PAPER 05 Two key capabilities prevalent in the 3.0 world are digitalization and multi-channel campaign management Digitalization Digitization is important because it recognizes content is available in digital format and therefore can be dynamic and made available on-demand where its consumption is trackable. This brings value in closing-the-loop to drive continuous improvement through understanding which content brings value to which stakeholders and in which context. Multi-channel Campaign Management is important because it recognizes digital content can be dynamically customized and delivered in automated sequences on demand... sometimes known as interaction journeys. This is a win-win both for the Life Science company and the stakeholder benefiting from the right content for the right person on demand. The 3.0 world is one which brings together planning, engagement and analysis iteratively to drive value, differentiation and continuous improvement in the relationship between Life Science companies, the healthcare community and patients. BUT there is a human and relationships aspect to content delivery too. The scenarios for human and/or face-to-face interaction are multifold, here are some possible justifications: The credibility and knowledge of the person representing the brand can a substantial part of the brand, is the brand, beyond what is present in digital content. The theme (such as science, reimbursement, regulatory compliance, therapeutic guidelines...) of the interaction might require one or multiple subject matter experts difficult to replicate with digital content. The ad hoc nature of the interaction, for instance negotiation or clarity around terms of a relationship, partnership or joint venture, might require human interaction beyond what is possible with digital content. It could be summarized in content delivery terms: The majority of content we want to recognize which content is relevant to which stakeholders and in which sequence. We want to ensure stakeholders are aware of the content and its value and we want to bring stakeholders the convenience of anytime/ anywhere convenience. Where possible we want to automate content delivery, but only if stakeholders derive value from that and it is fully supportive of our GtM plan and we can continually measure and assess the success of these interaction journey.

6 WHITE PAPER 06 Building Life Vision 3.0 To address the challenging need described previously, Interactive Medica has developed the vision, software components and services needed to compete successfully in the marketplace with a proprietary and differentiated commercial engagement strategy. Thinking (Plan), Doing (Engage) and Learning (Analyze) The first thing to appreciate is that in the past Life Science commercial GtM has been mostly about doing, doing, doing. Conventional wisdom has been focused on scheduling and recording calls as the primary, if not only, measure for success. That is no longer the case, business plans have become much more reflective of cross-functional, multi-disciplinary working needed to be successful. Business Planning/(Key) Account Management Life Science has recognized the need for strategy and execution to come together, a strategy to execute as well as executing strategy, hence the ascending interest in Business Planning, (Key) Account Management. Currently, such is planning is pretty robust, however the product of such planning resides in documents, presentations and very often in spreadsheets. Like all documents, it s difficult to keep a single version of the truth as documents have a tendency to diverge (separate edited versions) from the original. It s difficult to have a single current document to have as a basis for collaboration across all, or selected, teams and difficult to have any sense of tracking or monitoring on the status of the plans across teams and team members.

7 WHITE PAPER 07 Documents are the grave yard of good ideas Typical content stored in a business plan include: Segmentation & targeting Summary account, team, location & positioning information Sales information along multiple dimensions Partner and competitor information Contact and relationship scoring and mapping, including 3rd parties Activity Information SWOT Analysis Competitive Analysis Customer challenges/drivers Account objectives and action plan Opportunities Performance against plan Often this information is captured in non-standardized documents individually maintained by separate team members. Typical questions from the team or executive management might be: The solution is to move from a document, or rather several non-standard documents to a standardized system that makes it possible to maintain a Single version of the truth Such a consolidated view makes it possible not only to have a single view, but also makes it possible to agree standardized performance measures and the extent to which these measures have progressed. With standardized measurement in place - for instance for agreeing status of progress measures, we can now embed business rules to enable us to agree what is good and less good and use colour coding to highlight exceptions that exceed thresholds for those business rules to encourage us to proactively change behaviours both inside and outside of the company. In engaging with customers we can score and map relationships across teams and geographies and assign key responsibilities and actions for resources to align accountability and ensure execution. What is the actual performance of the account across specific geographies, for certain product groups in comparing one period against another? How have we positioned differentiated value at the customer and which pricing regimes do we have in place where and what measures can we take to drive value/counter price erosion? Which customer and 3rd party stakeholder relationships are owned by whom and which combinations of interactions have been scheduled and completed by which team members in which locations? To what extent have we achieved our plan and what do we need to do to move the plan progress forward?

8 WHITE PAPER 08 The first step in developing insight is consolidating information into a single version of the truth Engage with multi-channel campaign management There is much interest in Multi-channel Campaign Management in Life Science, however current interpretations focus greatly on the ability deliver similar, or the same, content across different media channels. At Interactive Medica, we believe the power of multi-channel campaign management is being to define interaction journeys comprising multiple interactions in a sequence. With each interaction, the Life Science company is looking to close-theloop, that is measure the degree of success or failure for each interaction. Such measurement should be easily visible for each interaction step, but also across interactions steps in the context of Insights before (during and after) action - continuous improvement Analyzing is at the heart of continuous improvement. The old cliche if you can t measure, you can t measure remains true today as it always has. The challenge in the past is that insights have been divorced from business process. Contemporary technology means that insights are no longer the realm of analytic specialists and can indeed be embedded deep in commercial engagement and other processes. Single version of the truth The first step in developing Insight is consolidating information into a Single Version of the Truth irrespective of therapeutic area, product category, geographic region, business unit or functional team, there has to be a convergence to establish an agreed view on which to build continuous improvement. Common areas of interest in Life Science include: Sales Information: Direct Sales Information as well as Market Share expressed in currency and units Activity Information: Which kinds of activities occurred with which people over time and what correlation is there with sales Campaign Information: Which campaign journey have been deployed to which stakeholders and what level of response have been driven that can be correlated to sales Channel Information: Understanding that multiple channels might be exploited across campaign journeys, which channel combinations drive the best results Business Account Plan Progress: Which metrics have been applied to key accounts and what is the current status of progress against plan.

9 WHITE PAPER 09 Building Life Vision 3.0 Dimensions & measures Having established and agreed the information we need to run our business, we next need to define how we want to look at this information. Typically this would be expressed as dimensions that allow us to explore that information, for instance product category, account team, geography, time and using measures of granularity, for instance product sales, in currency, for a sub-region, by month, for the last x months compared with Implementing business rules & management by exception Next we have to define thresholds that describe good and bad. For example we might describe an upper threshold where values above that threshold are described as good, a lower threshold where values below that threshold are bad and values in between are middling. Open door policy : All information in one place Here are some of the data sources commonly tapped by Life Sciences companies and made available within Interactive Medica Cloud. IMS RXI/Xponent/RSA/DRX data Direct Sales data Customer data (Onekey, Binleys, apurebase, local) ERP systems (SAP, Oracle) Financial or Expenses Systems edetail Solutions (Touchpoint, agency or any exposed web service) Medical Information Systems (Mims etc) Insights proactively driving changes in behaviour... Action! The benefit of this is we can now use these business rules to define colour coding to help highlight anomalies or exceptions. The beauty of highlighting exceptions is we put ourselves in a position to act! Our eyes are naturally drawn to underperforming metrics, the information is organized to allow us to navigate the numbers-behind-the numbers to help us diagnose the issue as well as conclude actions to change behaviours which impact the metrics.

10 WHITE PAPER 10 When you put commercial excellence together in the context of Life Vision 3.0, there really isn t anything radically new True, technology advances with digitalization and multi-channel campaigns have an impact in being able to build economiesof-scale, drive down costs yet add value to the stakeholder experience through the convenience of on-demand. In the end it s about joining everything up. About closing the loop, so that we can use digital footprints to identify the strengths and weaknesses of our go-to-marketing strategy and continually improve on them. It s about joining strategy with execution and execution with strategy and forever optimizing iterations. Finally, it s about quality and differentiation. If we can automate some, less differentiated, parts of our content delivery, it means the other parts, the once which are more complex, more sophisticated and likely of higher stakeholder value...that s where we can put our very best minds in front of stakeholders to drive the highest possible value and differentiation. WHERE THE MAGIC HAPPENS COMFORT ZONE