Formulating an effective CRM strategy (Strategy Focus)

• Pharmaceutical companies need to increase drugs' profitability during its profit window
• A reduced sales force needs to be more effective - and this can be achieved through the effective use of CRM
• Sales and marketing should be coordinated - and CRM should be a part of this.

• Understand the strategy that the pharma companies should be taking to achieve greater profit margins.
• Learn how CRM can help pharma companies achieve their aims.
• Understand how the unique characteristics of the pharma industry can be met through the effective use of CRM.

DATAMONITOR VIEW

CATALYST

SUMMARY

ANALYSIS

Pharma companies need to increase drugs' profitability during their profit window

Sales need to be more effective in a short period of time

Getting the message of the new drug across is essential

A genericized trademark is the 'holy grail' for pharmaceutical companies

Viagra - a success story of branding

CRM and unified communications can help to make a reduced sales force more effective

Unified communications will help to increase sales

An effective communication strategy is based around the sharing of information

Knowledge of the physician is crucial to making the most of the time spent with them

Having a flexible sales force can allow market changes to be cushioned and demands shifted

Pharma needs to come up with an effective long term sales strategy and be less conservative

CRM solutions should be part of creating a coordinated marketing and sales approach

Coordination means communication from all departments

At the heart of this approach must be sales and marketing working in tandem

Pharma companies need CRM solutions that manage both the patient and physician

Reaching the patient is continuing to increase in importance

Providing the patient with sufficient advice and information is crucial as they become key influencers

As pharmacogenomics becomes more prevalent pharma companies need an appropriate strategy

ACTIONS

Vendors need to provide CRM solutions that can target different customers

Coordinated CRM solutions are essential to provide pharma with increased profit margins

APPENDIX

Definitions

Methodology

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

List of Tables

Table 1: How likely are the following factors to affect or impact your prescribing decisions?

List of Figures

Figure 1: Increasing the profit from a drug during its lifecycle

Figure 2: Total CRM spending from 2006-2012

Figure 3: Market size for CRM by application from 2006-2012 in North America, Japan and EMEA

Figure 4: Diagram illustrating different strategies of pharmaceutical companies

Figure 5: Marketing Automation market size from 2006-2012