Although the concept of Closed Loop Marketing (CLM) has been around in the pharmaceutical industry for years, renewed attention is being generated by the development of new e-detailing technologies that act as a catalyst to the marketing cycle.
Feedback + Analytics = Growth
Jim Sale of IMS Health defines CLM as “a set of processes used to improve the effectiveness of sales and marketing interactions a company has with its clients across channels”.
CLM allows payers and healthcare providers to find out what they need and get what they want. By gathering and analyzing feedback, companies can continually refine the message. Payers receive information that is relevant and interesting to them, and pharma companies can position themselves to strengthen commercial opportunities.
With the increased popularity of tablet devices, CLM is often integrated with a mobile communications platform. Sales and marketing apps are developed in-house, and used with clients. As sales and marketing managers use the apps, data is collected about the interests of payers, allowing managers to measure the effectiveness of marketing messages and modify the apps accordingly, thus closing the loop and enhancing future sales.
The Attraction of CLM
In recent years, pharma has faced tightening regulation, cost restrictions, growing patient numbers and increasing administrative demands, all against a backdrop of bearish economic trends. This triggered pharma’s shift to the customer-centric model epitomized by CLM. A more fine-grained understanding of the interests and needs of target groups has created more effective marketing efforts.
The latest development drawing pharma to CLM has been the emergence of new technologies. Mobile apps which integrate CLM and e-detailing capabilities into a single tool have made data collection and analysis far more efficient. Tablet devices have also improved; the makers of the iPad and their rivals have shed weight, sharpened screens, reduced start-up times, enhanced swipe features and increased audiovisual functionality. The resulting user experience further empowers the tablet as a sales tool.
About BaseCase CLM
A successful CLM strategy depends on being able to take actionable feedback data and use it to make strategic improvements to your message. The unique selling point of BaseCase is that it is infinitely customizable. HEOR and market access teams are able to log in to the web-based platform and make changes to the message instantaneously, based on CLM data or other sources of feedback. For more information about BaseCase and closed loop marketing, please request a demo.