Do you remember when sales reps had face-to-face visits and cold phone calls with physicians and other HCPs? In the pharmaceutical industry and healthcare, detailing was a popular tool for demonstrating medical products and services. Nevertheless, it was hardly efficient because it was expensive, looked contradictory, and felt biased.
After the healthcare world started shifting to digital, e-detailing as an alternative to traditional detailing diminished the power of sales reps and granted more power to marketers who received access to a multi-channel approach.
Since then, pharmaceutical companies could use e-detailing and other medical content across different types of digital communication such as websites, social media, email, and beyond. However, only a few pharma companies could analyze their campaigns and understand their impact on their audiences.
All because they began to implement closed-loop marketing (CLM).
Let’s find out what CLM stands for in pharma, and how your business can benefit from it.
What is Closed-Loop Marketing in Pharma?
Closed-loop marketing is an omnichannel model that allows pharma companies to boost conversions and return on investment (ROI) by increasing the number of leads and improving personalized customer experience with real-time feedback and in-depth data analysis.
How Does Closed-Loop Marketing Work?
If you want your brand to grow and prosper, knowing your lead and treating them as your best friend is the key. Pharmaceutical closed-loop marketing does the job by giving answers to the essential questions:
- How do leads find a brand, and how do they engage with it for the first time?
- Why do leads convert into customers, and why aren’t they?
- What does make new customers trust a brand?
The closed-loop marketing process is a cycle that consists of four stages:
- Launching a marketing campaign.
- Engaging with customers.
- Collecting data.
- Analyzing data.
Closing the loop means repeating this cycle over and over. A pharma brand launches a new campaign, collects the relevant data, feels the gaps in its knowledge about the target audience, and starts a new campaign optimized for the needs and preferences of leads. After each cycle, the brand gets more expertise to strengthen the connection with the lead base.
How to Get Started with Pharma Closed-Loop Marketing
To see the big picture, pharma companies have to build an integrated system based on an accurate marketing strategy and suitable software.
Create a Closed-Loop Marketing Pharma Strategy
Close-loop marketing allows the marketing and sales teams to join their activities within a healthcare business and get many important insights that will improve the lead generation process in the future. For example, which channels customers prefer for communication and content browsing, what content they value, what’s the best time to engage with them, and tons of other essential data.
Here are key components that are necessary for the implementation of a closed-loop strategy in the pharmaceutical industry:
- Build the key performance indicator (KPI) system. Choose the metrics that will help your business achieve its digital marketing goals with the highest efficiency.
- Conduct market segmentation. Analyze your top digital marketing channels and segment leads into multiple groups according to their behavior.
- Plan personalized customer journeys. Tailor individual messages to every group of leads considering their consumer needs and channel preferences and send them at the right time.
Take Advantage of Pharma CLM Software
When technology prevails, the technical infrastructure that incorporates all the marketing and sales processes together plays a key role. To implement a closed-loop marketing strategy, pharma companies need three primary platforms:
- Customer relationship management (CRM) platform arranges the gathered data, tracks real-time feedback, and segments leads and customers for marketing campaigns.
- Marketing automation (MA) platform optimizes the CLM process.
- Content creation platform develops tailored messages for multiple channels and audiences.
The Benefits of Closed-Loop Marketing in Pharma
Using up-to-date CLM insights within a single environment powered by next-generation technology is essential for today’s pharma companies and their marketing management.
Here are a few significant benefits pharma marketing strategies can have if based on the closing-the-loop approach.
Saved Resources
Sending accurate information to the right people at the right time reduces the cost-per-lead rate. It lets marketing and sales teams optimize their budgets and spend energy on other activities that make their medical brand much more powerful.
Increased Brand Awareness
A high level of interaction and communication between the sales and marketing teams grows the level of interaction and communication between the brand and its customer base. In turn, it significantly improves the customer retention rate.
Say you have physicians or any other type of HCPs as your target audience. If you perfectly understand them and plan successful customer journeys, they’ll remember you and spread the word about your brand across the healthcare industry lightning-fast.
Customer Behavior Prediction
When you regularly access relevant CLM data, you have enough information and experience to predict how an HCP can conduct themselves when they receive certain content or visits a particular channel. Not to mention that some of the top companies in the market might already be using artificial intelligence and machine learning to analyze customer behavior patterns.
Personalized Content of Higher Quality
Content has never been so vital for promoting medical products and services, as well as for increasing sales. High-quality content attracts high-quality leads. And don’t forget that it’s personalized content that’s king. CLM data allows marketers to find out the content preferences of HCPs and create personal content that doesn’t annoy recipients and doesn’t feel like spam.
NOTE: A modular content approach can save you up to 60% on personal content creation while improving its quality, management, and distribution across multiple audiences and means of communication. Modular content created on eWizard significantly reduces the medical, legal, and regulatory (MLR) review process.
End-to-End CLM Pharma Solution for Your Omnichannel Strategy
The better you look after your leads, the more sales and the better ROI your business gets. Omnichannel CLM for pharmaceutical companies is like prophylaxis for patients. High-quality insights perpetually analyzed in a unified marketing system are the best tool for building long-lasting communication with the target audience.
Does your brand need assistance with CLM or omnichannel?
Viseven can offer you several implementation strategies to enhance the quality of your leads and increase your ROI based on advanced technology and customer experience techniques.
Fill out the form below to request a consultation from Viseven’s expert!
