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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
CRM is a business strategy by which a company seeks to maximize the value of its products by managing the customer relationship, with specific aims to boost customer retention and increase market share, while reducing the costs of sales, marketing and customer fulfillment. CRM is made necessary because of advances in Web-enabled technologies, which have changed the dynamics of sales and marketing.
Scope of this title:
- Insight into how the view of CRM as a solely sales, marketing or fulfillment strategy is flawed and contributes to unrealistic expectations
- Identification of the leading CRM vendors in the pharmaceutical industry
- A discussion of how pharmaceutical companies can benefit from moving in the direction of adopting an enterprise-wide CRM strategy
- Analysis of how online communities can be leveraged to improve CRM strategies
Highlights of this title:
- CRM is not an out of the box software solution that can instantaneously recoup losses due to cutbacks in sales force and media saturation. CRM is instead a constantly evolving reassessment of the relative value of relationships with target groups and effectiveness of the mediums used to communicate with them.
- The greatest demand on pharmaceutical CRM infrastructure is the ability to cover multiple touch points across a diverse customer base. In this respect, the pharmaceutical industry is unlike any other, faced with a wide and varied array of customers, each of whom interact to varying degrees and at various levels.
- Predictive analytics are the most challenging aspect of any CRM strategy, but also potentially the most rewarding. Online communities can play a role in developing a successful predictive CRM strategy by enabling companies to monitor the evolving thought processes of their customers.
Reasons to order your copy:
- Identify how the pharmaceutical industry is evolving beyond traditional sales and marketing strategies toward enterprise-wide CRM
- Understand how CRM can move beyond managing customer relationships towards community building and support
- Evaluate key vendors and how they are shaping the future of pharmaceutical CRM
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