The pandemic has brought forth several unexpected changes to companies’ business and commercial models across industries. For the life sciences industry, 2020 pushed organizations to rethink their commercial models and how best to engage their customers.
There was a rush to establish new virtual operations and accelerate digital roadmaps, changing an established engagement strategy.
Many companies are assimilating new integrated data and analytics approaches, transforming their commercial model with a lucid understanding of customer expectations and needs. They can access insights in real-time so that commercial, marketing, and field teams can swiftly deliver the experiences customers want in the digital and virtual age.
This raises a critical question of how life sciences organizations should navigate the journey ahead for customer engagement. Commercial teams would need a strategic healthcare professional (HCP) engagement approach that takes into account the pandemic situation, builds on capabilities for the new digital-driven future, and enhances the impact of all HCP engagements.
An effective digital engagement strategy does not completely replace face-to-face and in-person interactions. In fact, it complements in-person meetings to interact at a time convenient for the customer, increase customer satisfaction, and increase the number of engagements to reach more HCPs. This combined strategy drives sales growth effectively and uses resources more efficiently.
For most life sciences organizations, successful and efficient digital engagement will require a significant amount of change management. A well-thought-out and implemented digital strategy ensures that the new processes are built, tested, and standardized to help organizations scale. Evolution and development take place step-by-step. For each company, the pace and scale of growth will differ depending on the current landscape, culture, and existing capabilities.
To meet HCP expectations with an integrated data-led approach for an omnichannel strategy, companies can utilize key learnings from the pandemic to advance their digital engagement strategy. The evaluation of right and wrong during the early stage of formulating an omnichannel approach should also be used to create a long-term digital engagement policy. Additionally, life sciences companies can learn a lot about the efficient implementation of digital engagement strategies and leveraging digital channels for customer engagement from other industries, who have successfully been using omnichannel tactics.
The COVID-19 pandemic has fundamentally altered the way most companies conduct business operations and their approach and reach to customers, especially in the life sciences industry, where many of its effects and adaptations will likely remain. Developing the best practices learned from other industries and adapting them to the life sciences industry can help accelerate the digital transformation of the HCP engagement approach.
To maintain and even grow engagement with the HCPs, life sciences companies can no longer look at digital engagement as just a supplement. In fact, digital HCP engagement is going to be the way forward. Previous commercial models and practices have become less effective in these trying times, and those who adopt early and excel in the new paradigm are to be the winners in the post-pandemic world.
Axtria’s Asheesh Sharma (Senior Principal and Head of Commercial Excellence) joined industry leaders, including Bharati Rai (VP Commercial Acceleration) from Novartis and Haider Alleg (Global Head, Digital) from Ferring to discuss moving from reactive to proactive customer engagement and exceeding expectations with an integrated data-led omnichannel strategy.
This webinar was held in partnership with Reuters Events.