From Amazon to Netflix – analytics enabled content lessons for the pharma industry
Article by Manish Gupta, co-founder and CEO, Indegene, a leading global healthcare solutions company
As lifesciences companies seek to “Amazonize” their physician and patient engagement and progress on their journey to deliver customized omni-channel experience to their customers, they often fail to recognize that the personalization journey necessitates the confluence of content development, intelligent campaign operations and analytics enablement. These elements are often managed in silos resulting in sub-optimal customer experiences and poor return on investments in initiatives to build data lakes and warehouses. After multi-million dollar spends and months if not years of effort, companies struggle to demonstrate quantifiable business outcomes.
Pharma companies invest heavily to produce content across a multitude of channels to engage with the HCPs. The channels may range from i-details to websites to print media (newsletters, slide decks, banners) to Emails (rep triggered mails and mass mailers). The key question is whether the HCPs find the content useful in improving their clinical practice. The other end of the spectrum is content-on-demand. With pre-set algorithms, the next best action is picked up by the channel while the content is tracked intelligently across the journey. The Content Maturity framework is an appraisal for the digital spends and ROI for Multi-channel marketing.
The journey to omni-channel personalization begins with how content is developed. Not only is it necessary to drive standardization and efficiency in global digital content development, it is of paramount importance to ensure consistency and excellence in analytics-enabling the content to deliver deep and nuanced insights. To do this, one needs strong technical and data analytics capabilities, but above all, a deep understanding of medical content, pharma marketing and clinical practice. A balanced mix of analytics, technology, operations and medical expertise lies at the heart enabling enterprise omni-channel customer excellence.
Further, the ability to leverage insights gathered from every customer interaction for the real-time optimization of channel mix and content delivery is an enabler for designing and managing turnkey omni-channel customer campaigns. Using modern AI and ML technologies will improve efficiency and customization cutting right across content development, campaign operations and MCM analytics capabilities. This approach will be at the heart of the “Amazon-ization” of customer engagement that the life sciences industry so urgently seeks.
The natural outcome of amazonization for the pharma industry is to review their content maturity, almost calling for hypersegmentation of HCPs by message and by channel on demand – almost moving to a Netflix type model sans subscription fees. Layer this with global digital asset creation and compliance, it calls for a well thought out and integrated approach to customer centricity. Companies like Pfizer, Merck and AstraZeneca are somewhat perceived to be moving in this direction by the HCPs; most others are trailing behind.
*The Digital Maturity study (http://go.indegene.com/rs/910-CPJ-567/images/MCM Maturity Report.pdf) presents the most longitudinal model for the aligning digital spends to business outcomes and delivering great value to customers.