ARE YOU READY FOR MODERN MARKETING?
Guest post by Mike Strassberg, VP, Enterprise Business Development
Commercial success isn’t driven just what you do, but also when you do it.
My job is to help clients take the next step on the path to modern marketing maturity. Sometimes that’s a small step, but sometimes it’s quite a stride. It can require meaningful investments of many things – among them, time, money, mental energy, and political capital. There’s a lot riding on it. Evolving their understanding of customer experiences, the use of data, and how to best leverage technology, can help drive brand success. Particularly, in this Post-COVID19 world, it’s critical to accelerate organizational adoption of modern marketing.
From my experience, there are two inflection points when biopharma companies need to evaluate their level of modern marketing maturity.
THE FIRST MOMENT: PRE-COMMERCIAL
Pharma companies initiate commercialization planning while a product is in the pivotal trial, after receiving a positive signal within the clinical data. At this point, leadership creates a commercial team to build and implement a launch strategy with supporting marketing tactics.
Until this point, technical needs have probably been served by an internal Information Technology (IT) group. But IT is also supporting the rest of the organization, from R&D to HR, and they’re not generally enabled with the information needed to develop an enterprise marketing technology road map. However, while awaiting the final pivotal trial readout, it is the perfect time to begin exploring the technical capabilities that will be needed and the supporting marketing automation tools. A formal assessment of the current technology infrastructure juxtaposed against marketing competencies and business objectives, will help determine the gaps and form the basis for an enterprise technology road map.
For most launch brands, the initial step into modern marketing is the unbranded disease website, which will, after approval, be linked to branded product specific customer journeys through a marketing automation platform. This system should also connect to corporate and field CRM tools, which are will used in the post-launch stage to document and drive customer conversations. That connectivity is essential to creating an effective, modern marketing experience, which uses data to touch customers across all channels.
THE SECOND MOMENT: TIME TO SCALE
The second inflection point for evaluating modern marketing readiness is typically when an organization is preparing to launch subsequent products or there is a market event – such as COVID19 – that makes it clear that the time is right to reevaluate the way it engages with customers. Having an experienced and objective partner with whom to consult is critical.
One path to actionable insight is a modern marketing readiness workshop. This approach synthesizes interactive discovery with quantitative analysis to evaluate how an organization creates enduring customer experiences, the use of data in target and message optimization, and technologies that ladder up to these facets. It is an exercise in interrogating business objectives and the role of modern marketing in addressing them, to determine exactly which technical competencies are needed, now and in the future, thereby providing an engagement framework to maximize commercial success.
For more information on how Intouch B2D can guide you on the path to Modern Marketing Maturity, contact Mike Strassberg.