Pharmaceutical Commerce - July/August 2013 - (Page 15)

Brand Marketing & Communications Moving up the marketing maturity curve continued from page 1 Customer data & segmentation • Levels of granularity for customer definition • Frequency of data use to refine/reassess segments • Degree of integration of customer data sources Customer experience • How the brand team plans and executes campaigns Marketing analytics • Access to data/reports and timing • Timeframe for analysis and optimization decisions • Basis for future marketing investment decisions Marketing technology • Use of marketing tools and systems—e.g., 360 customer database, campaign management and execution, centralized reporting • Integration with other company systems—e.g., sales force automation, call center, finance, market research • Location of marketing tools/systems. STEP 2: Evaluate the fit to the market situation The self-assessment gives marketers a general idea where they locate along the Marketing Maturity Curve’s multidimensional approach. Is the brand suited to traditional tactic-driven marketing? Does it represent a foundation for a new approach in development? Has true customer-centric marketing been achieved? Have marketers advanced to the stage of insight-driven informed marketing? Keep in mind that the most advanced stage is not necessarily the best choice. Calibrate the approach to each brand, finetuning it using real-world and real-time information wherever possible. These four stages form the basis of the Marketing Maturity rating: with IT and/or external providers, and are beginning to leverage technology to deliver on their goals. Multiple channels are used to create a coherent customer “journey.” At this stage marketers still may lack 24/7 access to campaign data and continuity in the customer journey, and encounter gaps during the loyalty phase. If the brand has a competitive market, complex customer base, sophisticated multi-channel campaign or faces financial pressure to deliver efficiently, keep reading. The brand belongs in Stage 4. Stage 4. Insight-driven, informed marketing Marketers whose brands reach this level on the Marketing Maturity Curve have achieved real transformation. Their capabilities to use real-time information to drive marketing campaigns enable them to deliver high-value, personalized experiences for their customers, be more informed in their optimization decisions, make changes while campaigns are still ongoing, and exhibit more agility. This is the new “holy grail.” Marketers and operations leaders who understand and can implement this transformation will be ahead of the curve for the brand, the company, and their own careers. If marketers and operations teams fit this description, they are truly leveraging information to personalize the customer experience, partner with sales, create multiple unique experiences for the customer, optimize campaigns mid-stream, and use cloud-based tools to develop insights in real time. STEP 3: Create a plan to move up the curve Three interconnected components—skills, processes, and technology—are essential to implement meaningful insight-driven marketing that integrates all personal and nonpersonal channels. Stage 1. Tactic-driven marketing This traditional approach involves creating and deploying tactics to a broad target audience, with limited coordination of tactics or use of technology and little or no access to information about what’s working and what isn’t. It is well suited to brands with low ROI pressure, a less complicated customer base, less need for customer engagement, and an established market base. Stage 2. Foundation development Brands in this category use tactic-driven marketing while doing initial groundwork for advancing up the Marketing Maturity Curve, putting in place operational investments to enable a future state of more insight-driven marketing. This stage fits with brands under ROI pressure or serving a more complex customer in a more complex media landscape. This is a necessary stage, providing the “plumbing” for future changes, but no intrinsic business value. Many companies get stuck here, caught in a vortex of data collection and system building, often taking on large “on-premise” (not cloud-based) infrastructure that move slowly. Brands at this stage are in peril unless marketers develop clear, time-bound plans for moving to Stage 3. Stage 3. Customer-centric marketing Brands in this stage are beginning to truly organize campaigns around the customer. Marketing campaigns for these brands are executed across channels and provide at least some effectiveness information for more informed decisionmaking. Brand marketers have developed close partnerships • Develop policies and procedures for deploying multichannel campaigns • Train medical/regulatory/legal teams in how to deal with the new, business-rule driven, automated campaigns • Estimate and make the case for the additional resources that may be needed • Encourage and enable A/B testing for campaigns. Marketing technology: making the shift Technology is the hub from which teams manage customer information, customer communications, and campaign outcomes. It contributes to Marketing Maturity in three ways: • Integrating customer data helps marketers deeply understand their customers across virtually limitless variables. • Automating marketing campaigns enables personalization, greater responsiveness, continuity, and coordination. • Advanced analytics engines provide real-time performance insights by campaign, channel, or even individual customer. Marketers who know they need to ramp up their capabilities often hit a brick wall when it comes to figuring out how to compare specific product features and functionality of various solutions. This is a difficult, and critical, decision that can significantly impact costs and effectiveness. Our white paper* provides a ready-made guide for making comparisons across IT platforms. Some of these criteria are subjective, but many of them are concrete, objective measures of the sophistication of the system to be deployed. For example: • Does the solution provide a single view of relevant customer profile data in one, easily accessed location? • Can the solution handle both in-bound and out-bound messaging from/to customers? • Does the solution include automated response mechanisms based on triggers and customer behaviors? • Are reports available in both standard and customizable forms? • Is there 24x7, multi-platform (desktop, browser, mobile device) access to campaign data? One of the key decisions will be what kind of technology solution works best for specific market situations—whether to build an on-premise IT solution or go with cloud-based software-as-a-service (SaaS) solutions. Cloud-based solutions continued on page 17 Skills: Understanding data, tearing down walls Technology alone isn’t enough to achieve Marketing Maturity. In today’s increasingly data-rich world, marketing departments need data scientists, mathematicians, IT professionals, financial analysts, and others to work with the information. This requires building new internal skills and strategic partnerships with external experts. Structures also have to change. Goodbye channel-specific and functional silos, hello intra- and inter-departmental collaboration. This means ensuring the skills to build coalitions across functions and put in place governance processes. Greater speed, new procedures Marketing, sales, operations teams, and management across functions will need to re-orient around widespread use of analytics and rapid, insight-driven decisionmaking in order to drive higher revenue and business success. New technology is only part of the equation. Marketing and operations leaders are also being challenged to: ABOUT THE AUTHOR Bob Harrell leads marketing efforts for IMS-Appature, including online and nonpersonal promotion, sales enablement, and thought leadership. During his 20+ years in the pharmaceutical industry, Bob held top positions in digital, database and relationship marketing on both the manufacturer and agency side, including Merck, Astra Merck, AstraZeneca and Rosetta Marketing. Prior to joining Appature, Bob was Director of Integrated Marketing for Shire. * (Download Appature’s White Paper, Managing the Marketing Gap, www.appature.com/whitepaper, for a more detailed explanation, diagnostic, evaluation scorecard, assessment tools, and guide to action plans.) July | August Visit our website at www.PharmaceuticalCommerce.com 15 http://www.appature.com/whitepaper http://www.PharmaceuticalCommerce.com

Table of Contents for the Digital Edition of Pharmaceutical Commerce - July/August 2013

Pharmaceutical Commerce - July/August 2013
Editorial
Contents
Op-Ed
Top News
Business/Finance
Brand Marketing & Communications
Supply Chain/Logistics
Information Technology
Manufacturing & Packaging
Legal & Regulatoryv
Meetings and Editorial Index

Pharmaceutical Commerce - July/August 2013

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