Everest Group Life Sciences Digital Services Specialists PEAK Matrix® Assessment 2024

When the FDA approves existing drugs for new uses, it can disrupt the marketplace – and companies need to know how to adapt to the new sales environment. Glucagon-like peptide-1 (GLP-1) drugs are disrupting the MedTech marketplace right now. Previously used to treat type 2 diabetes, these drugs are the latest weapon in the battle against obesity, and they are so effective that the number of ...

In the life sciences industry, traditional measurement tactics are falling short. They cannot address the complexities of the modern customer journey. The surge of digital channels and evolving customer behaviors are driving this difficulty. So how do you respond? This white paper redefines how life sciences companies approach omnichannel measurement. Authored by industry leaders Vandana Singh ...

Data drives everything we do today. At first glance, more data seems like a good thing. The more insight you have into something, the better the decisions you can craft. But that isn’t always the case. Too much information has proven overwhelming for many organizations, especially pharma companies. The rise of omnichannel marketing, where multiple avenues of reaching a consumer have been ...

The nature of sales operations in life sciences is changing rapidly as digital marketing becomes a core function for marketers. Sales representatives are still central to pharma sales, but they need to leverage data and analytics to tailor conversations and provide a personalized customer experience while helping healthcare professionals solve problems in a complex healthcare environment. Axtria ...

The link between life sciences field teams and the healthcare community has been vital in delivering valuable drug information that supports informed decision-making by the physician. Most of the tools of the trade for omnichannel orchestration, such as triggered communications, A/B testing, and Customer Data Platforms, were initially developed for digital marketing. Field teams work differently ...

The transition from multichannel to omnichannel customer engagement is critical for the industry but not as straightforward as it may seem. Over the years, pharmaceutical companies have tried to make a move, but very few can claim to be successful and having achieved omnichannel maturity. COVID-19 accelerated the digitization drive across industries and demonstrated the potential of virtual ...

The COVID-19 pandemic has brought about many long-term changes to the pharma industry. One area that has seen effects directly caused by COVID-19 has been in sales operations design, management, and engagement with customers due to increased access restrictions of sales reps to physicians. COVID-19 has also accelerated institutional rethinking of the level and role of direct sales forces in the ...

The sales force for a pharma company still represents one of the largest line items in the budget and is the most significant driver of sales relative to all other individual sales and marketing channels. Direct sales forces have the highest cost per contact relative to other channels (lowest efficiency) but have the greatest effect on sales per contact (highest effectiveness). So, making sure ...

This white paper looks at a simple but important research question – why do pharma companies have incentive compensation (IC) plans that cap their at-risk sales rep compensation? This paper provides reasons why such caps are not justified on both theoretical and empirical grounds, notes counterarguments to those who argue for IC caps, and offers two typical case studies that reveal both negative ...