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Taking CRM to the Next Level: Web-assisted Relationship and Community-building for the Pharmaceutical Industry
Datamonitor, Dec 2006, Pages: 39
OUR VIEW 1
CATALYST 1
SUMMARY 1
METHODOLOGY 1
2
ANALYSIS 4
An Introduction to the role of CRM in the pharmaceutical industry 4
Analytical and Operational CRM 4
Regulatory constraints and the nature of the products sold make pharmaceutical CRM unique 5
Defining the 'C' in CRM for the pharmaceutical vertical 6
The 'R' in CRM does not stand for 'ROI'... 9
...but ROI cannot be ignored 9
'Management' means much more than it used to 11
Dropping the 'e' in eCRM 13
The view of CRM as a solely a sales, marketing or customer fulfillment strategy is flawed and contributes to unrealistic expectations and shortfalls in implementation 14
Drivers and resistors of CRM 14
CRM and the pharmaceutical sales force 17
CRM and marketing to key target groups 17
CRM and customer fulfillment 18
Customer fulfillment online: providing eSamples to physicians and consumers 19
CRM as a holistic business solution, rather than as a sales, marketing or fulfillment solution 25
The leading CRM vendors in the pharmaceutical vertical will combine industry experience with a focus on technology and functionality that meets specific needs rather than hard to define ROI targets 25
The Vendor Landscape 25
The Market Leader 27
Oracle (including PeopleSoft & Siebel Systems) 27
Case Studies: Novartis looks to Siebel for a CRM solution 29
Runners up 29
Salesforce.com 29
SAS 30
SAP 30
Unica 31
Microsoft 31
THE FUTURE DECODED 33
In the future, the focus of CRM will move beyond managing customer relationships towards community-building and support 33
Online Communities as a Tool of CRM 33
At a minimum, pharmaceutical companies should be using online communities as a market research tool 34
Greater lessons to be learned from online communities 34
APPENDIX
List of Figures
36
Definitions and abbreviations 36
References 37
Extended methodology 38
Our eHealth Physician Insight Survey 2005 38
Our eHealth Consumer Insight Survey 2005 38
Ask the analyst
List of Figures
Figure 1: CRM ideally keeps customers involved in an ongoing relationship with a company 5
Figure 2: Pharmaceutical companies are unique in that they have to deal consistently with a diverse customer base, some of which have conflicting needs 7
Figure 3: Companies stuck in a sales force arms race have consistently seen the value of the investment diminish 8
Figure 4: As much as one third of the costs of adopting a CRM solution have to be invested up front 10
Figure 5: Information from online medical journals and website is often accessed more frequently than information from pharmaceutical sales representatives 12
Figure 6: Early adopters of Internet-enabled sales solutions have seen increases in the length of time physicians are willing to engage in a sales or educational activity 13
Figure 7: Overall, patients are now seen as equally as influential at the point-of-care as pharmaceutical sales reps 15
Figure 8: Traditional resistors of CRM are loosing ground to changing market forces 16
Figure 9: Approximately 4 out of every 10 patients need to be incentivized in order to be most likely to fill a prescription 21
Figure 10: Providing services to physicians through the channels they prefer greatly increases the likelihood that a long-term relationship can be established and maintained 23
Figure 11: Websites are a great channel through which to fulfill consumers needs for information and to introduce them to new services and channels of communication 24
Figure 12: The CRM vendor market is beginning to stabilize, but remains highly competitive 27
Figure 13: Oracles recent acquisitions of PeopleSoft and Siebel cements its place as the market leader within the pharmaceutical CRM vertical 28
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