Formulating an effective CRM strategy (Strategy Focus)

Table of Contents

• DATAMONITOR VIEW
  • CATALYST
  • SUMMARY
• ANALYSIS
  • Pharma companies need to increase drugs' profitability during their profit window
    • Sales need to be more effective in a short period of time
    • Getting the message of the new drug across is essential
    • A genericized trademark is the ' holy grail' for pharmaceutical companies
      • Viagra - a success story of branding
  • CRM and unified communications can help to make a reduced sales force more effective
    • Unified communications will help to increase sales
      • An effective communication strategy is based around the sharing of information
    • Knowledge of the physician is crucial to making the most of the time spent with them
    • Having a flexible sales force can allow market changes to be cushioned and demands shifted
    • Pharma needs to come up with an effective long term sales strategy and be less conservative
  • CRM solutions should be part of creating a coordinated marketing and sales approach
    • Coordination means communication from all departments
      • At the heart of this approach must be sales and marketing working in tandem
  • Pharma companies need CRM solutions that manage both the patient and physician
    • Reaching the patient is continuing to increase in importance
      • Providing the patient with sufficient advice and information is crucial as they become key influencers
    • As pharmacogenomics becomes more prevalent pharma companies need an appropriate strategy
• ACTIONS
  • Vendors need to provide CRM solutions that can target different customers
  • Coordinated CRM solutions are essential to provide pharma with increased profit margins
• APPENDIX
  • Definitions
  • Methodology
  • Further reading
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer
  • List of Tables
    • Table 1: How likely are the following factors to affect or impact your prescribing decisions?
  • List of Figures
    • Figure 1: Increasing the profit from a drug during its lifecycle
    • Figure 2: Total CRM spending from 2006-2012
    • Figure 3: Market size for CRM by application from 2006-2012 in North America, Japan and EMEA
    • Figure 4: Diagram illustrating different strategies of pharmaceutical companies
    • Figure 5: Marketing Automation market size from 2006-2012