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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.
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.
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:
The closed-loop marketing process is a cycle that consists of four stages:
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.
To see the big picture, pharma companies have to build an integrated system based on an accurate marketing strategy and suitable software.
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:
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:
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.
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.
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.
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.
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.
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.
Email us or submit a form, and our expert will get back to you shortly!