Harnessing Customer Lifecycle Management in Pharma

As marketing becomes more sophisticated, more companies are taking advantage of in-depth customer lifecycle management (CLM) techniques to measure and analyze their marketing efforts. The key component of CLM is that it incorporates all parts of a business into the metrics, which includes the cost to attain and keep a customer as well as upsell them on additional products. As CLM metrics are utilized within an organization, it becomes more efficient and profitable. It also helps to deliver the goods and services that the customers are demanding most.

A strong CLM system must be managed from the top of the organization and get buy-in from all departments. Each unit of the business has to be sure to continually update the information and without management pressure, it is hard to get the best analysis. Companies generally set-up a software system that incorporates and pulls data from their financials, CRM system and marketing activity to get a key performance indicator of how well marketing is doing.

Pharmaceutical customers present one of the most complex lifecycle management processes. That is because there are strict regulations on the relationships between the pharma providers and their customers and stakeholders — patients, health care practitioners, health systems, insurance companies, pharmacies, and the government.

These regulations are in place to protect the patients as well as the health care payment providers. Companies cannot market in traditional ways to these buyers but rather need to follow the FDA-approved guidance for marketing each and every product. CLM systems for pharma companies incorporate these restrictions and place value on industry-specific components. Those include the doctor relationships, hospital approvals and any medical results on the efficacy of the product.

Learn more about enhancing the customer experience by enabling companywide, end-to-end digitization at the 11th Digital Pharma East conference, taking place October 3-6, 2017 at the Pennsylvania Convention Center in Philadelphia, PA. Join over 800 life science leaders who are improving customer centricity and patient outcomes through digital health and transformative initiatives. To learn more about this event please download the brochure or visit the website. Click here to register and be sure to mention Priority Code C856BLOG.

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