Agenda 2019: Personalizing engagement with accurate customer data
By Rebecca Silver, VP, Veeva Global OpenData
In the era of precision medicine, life sciences companies are transforming customer engagement with complete, accurate, and up-to-date customer data. Comprehensive and real-time views of physicians help organizations manage sales execution and enable tailored, multichannel engagement. This is particularly true in specialty therapeutic areas, including oncology, where physicians expect highly personalized and evidence-driven interactions from trusted industry partners.
Yet most companies concede that they are dissatisfied with the quality of their data. While customer data is widely considered a strategic asset, reliance on legacy technology solutions and multiple data sources are impeding the industry’s progress. Instead of leveraging one global data set, companies use numerous fragmented and localized data sets. As a result, sales teams routinely struggle with incorrect HCP address and affiliation data, or outdated specialty and license information.
The challenge is compounded for many specialty pharmaceutical companies that must regularly engage with multiple physicians and the broader care team. To create meaningful interactions, specialty sales teams must meet physicians in ways that support their current treatment goals and needs. These reps require a complete picture of all stakeholders in order to deliver this type of precision engagement.
The industry recognizes the opportunity for better data management to help improve program execution and increase overall sales effectiveness. And with the arrival of novel artificial intelligence (AI) technologies, life sciences companies now also have the opportunity to gain valuable insights and expand their business opportunities. That is why most organizations (87 percent) are already implementing or planning major data quality initiatives, according to the Veeva 2018 Customer Reference Data Survey. See infographic for more results.
The most successful companies address the data quality challenge by leveraging modern cloud solutions that break down siloes, harmonize fragmented data sets, and offer one global source of truth. They gain operational efficiencies while also getting the customer insights they need. Data sets are always current, universally accessible across all geographic regions, and compliant with all relevant global regulations. As a result, their sales reps can deliver the tailored and personalized engagement that their physicians expect.