Pharmaceutical companies have long used advanced technology to increase both the speed and likelihood of the success of their new product development. Think about how the mRNA platform is revolutionizing vaccine development. If pharmaceutical companies make use of sophisticated science to create the product, they can also use the available advanced analytics to sell the product.
Selling is fundamentally about deciding where to focus and that requires targeting the best prospective customers. The best targeting requires an actionable segmentation which:
This requires the integration of primary data (what customers think) and secondary data (what customers do) and assigning each physician on a call list to a specific segmentation.
Segmentation studies often fail. In fact, most of our segmentation projects start with the question “how can we avoid the mistakes we made last time?”. Many segmentation studies fail at the implementation phase because implementing the results requires sales reps to administer a typing tool to assign HCPs on the call list to a particular segment. This is awkward, error-prone, and wastes precious time.
Our five-step process combines primary and secondary data to assign HCPs on the call list to specific segments. Throughout the process we utilize our armamentarium of contemporary analytics to integrate and analyze data. Additionally, we apply our practical experience from implementing segmentation studies within a pharmaceutical company to think ahead and deliver truly actionable segmentation studies for its clients.
Our process includes:
After all the cutting-edge science, time, and money that gets poured into developing a new product, your product deserves the best chance at commercial success. Our extensive experiences, proven process, and contemporary analytics methods can help you make better decisions and drive your commercial success.
Do you want to learn more about how we can improve your targeting? Please contact us and someone will be in touch with you right away.