Insight Capsule #1: ODM “The Psychology of Engagement”
–Calibrating Promotional Spend–
Many of our clients are uncertain how to calibrate their promotional spend in the new, personalized / omnichannel paradigm of pharmaceutical promotion.
Discussions held with many of our client partners prior to the beginning of our first quarter 2022 conversations with physicians revealed substantial amounts of confusion and concern about the future of pharmaceutical promotion under a new and developing paradigm. For example, one practical issue on clients’ minds is what plans they should be making for the return of in-person promotion when the future impact of COVID variants remains uncertain.
Additionally, clients aren’t sure which Key Performance Indicators (KPIs) they should be chasing. Surveys have found that while most physicians still favor in-person detailing, a sizable minority prefer virtual details or a hybrid combination. Should physician “preference” be the driving factor here? Are we trying to optimize the increasingly popular concept of “CX” (customer experience), or maybe even trying to develop “customer loyalty?” Does customer loyalty even exist in pharmaceutical marketing, and what does it buy you? Clients are bandying about terminology like “corporate image” and “share of mind.” Where do they fit in? Clearly, clarity on these and related issues needs to be achieved for a company to get full value out of the new promotional paradigm.
Upcoming Insight Capsules will begin to clarify physicians’ thinking on these important issues.