Formulating an effective CRM strategy (Strategy Focus)

DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
ANALYSIS 2
Pharma companies need to increase drugs' profitability during their profit window 2
Sales need to be more effective in a short period of time 2
Getting the message of the new drug across is essential 3
A genericized trademark is the 'holy grail' for pharmaceutical companies 4
Viagra - a success story of branding 5
CRM and unified communications can help to make a reduced sales force more effective 6
Unified communications will help to increase sales 6
An effective communication strategy is based around the sharing of information 6
Knowledge of the physician is crucial to making the most of the time spent with them 7
Having a flexible sales force can allow market changes to be cushioned and demands shifted 8
Pharma needs to come up with an effective long term sales strategy and be less conservative 8
CRM solutions should be part of creating a coordinated marketing and sales approach 9
Coordination means communication from all departments 9
At the heart of this approach must be sales and marketing working in tandem 10
Pharma companies need CRM solutions that manage both the patient and physician 11
Reaching the patient is continuing to increase in importance 11
Providing the patient with sufficient advice and information is crucial as they become key influencers 12
As pharmacogenomics becomes more prevalent pharma companies need an appropriate strategy 12
ACTIONS 13
Vendors need to provide CRM solutions that can target different customers 13
Coordinated CRM solutions are essential to provide pharma with increased profit margins 13
APPENDIX 14
Definitions 14
Methodology 14
Further reading 14
Ask the analyst 14
Datamonitor consulting 14
Disclaimer 15

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Table 1: How likely are the following factors to affect or impact your prescribing decisions? 7


Figure 1: Increasing the profit from a drug during its lifecycle 3
Figure 2: Total CRM spending from 2006-2012 5
Figure 3: Market size for CRM by application from 2006-2012 in North America, Japan and EMEA 9
Figure 4: Diagram illustrating different strategies of pharmaceutical companies 10
Figure 5: Marketing Automation market size from 2006-2012 12

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