In today's competitive pharmaceutical market, companies face unprecedented challenges and opportunities. With the rise of data-driven decision-making, BI tools are essential to improve the effectiveness of pharmaceutical marketing. Business intelligence BI tools can improve marketing effectiveness by providing in-depth market insights, optimizing team operations, and enhancing customer interactions. This article will explore how pharmaceutical companies can use BI tools to achieve accurate execution of marketing strategies, and how to promote the healthy development of enterprises through data-driven methods.
Before the article begins, we will share a dry information, click on the link below to download the "Medical Industry Digitalization Whole Process Data Package" for free: "link"
01 Why do pharmaceutical companies need to improve their marketing effectiveness?
1. Policy trend analysis
From a policy perspective, the medical reform policy is being steadily implemented and implemented, aiming to continuously improve the level of medical services. With the implementation of these policies, the life cycle of drugs in the mainland market is undergoing significant changes. From the perspective of medical insurance policy, whether it is centralized procurement, mass procurement, or negotiation to include innovative drugs in the medical insurance catalogue and implement dynamic updates, these measures are all trying to reduce drug prices, thereby compressing the profit margins of pharmaceutical companies.
2. Changes in the life cycle of drugs
As the pharmaceutical market gradually matures and enters a stable period, drugs will face challenges such as price reductions and access pressures, and sales may show a downward trend. As a result, the life cycle of the entire market has gradually changed from a steady upward trend to a parabola-like pattern. After reaching a peak at a certain stage, sales will decline year by year, marking a period of maturity or even decline in the drug. This is a significant change in the drug life cycle across the market.
3. Transformation of pharmaceutical marketing organization
In the current new competitive landscape and environment, many pharmaceutical companies are looking for transformation and new growth models. At the same time, with the changes in the policy environment such as the professionalization of compliance representatives, new and reformed, pharmaceutical marketing organizations are also facing a greater impact. Although the traditional promotion model will not disappear immediately, pharmaceutical organizations must pay more attention to ROI and improve marketing effectiveness to meet new challenges.
02 How can pharmaceutical companies improve their marketing effectiveness?
In order to comprehensively improve the effectiveness of pharmaceutical marketing, pharmaceutical companies need to deeply analyze the three core aspects of the market, team and customers.
At the market level, enterprises must ensure the accuracy and rationality of market strategies, and analyze market segmentation, competitive situation and trend forecasting through BI tools to formulate and adjust market entry strategies and product positioning.
At the same time, efficient operations at the team level are key to achieving marketing goals, which requires real-time data and scientific decision-making, including performance evaluation, competency and training, and decision support, to ensure that team members can meet sales targets and improve customer satisfaction.
At the customer level, companies need to ensure that their team's visits and interactions lead to efficient conversion rates, which involves optimizing customer relationship management and improving sales conversion rates, and at the same time, medical reps must be able to successfully influence doctors' perceptions, which requires the development of targeted communication strategies by analyzing doctors' prescribing habits and preferences. Through such comprehensive analysis and strategy implementation, pharmaceutical companies can more effectively improve marketing effectiveness, achieve market growth and improve customer satisfaction.
Under these business needs, the introduction of BI tools is crucial for pharmaceutical companies. Business intelligence BI helps enterprises accurately locate market strategies, optimize team performance, and improve the quality of customer interactions through real-time data analysis. Through in-depth analysis of market trends, customer behavior, and team performance, BI tools enable companies to quickly respond to market changes, develop effective marketing strategies, and improve sales team efficiency and customer satisfaction, so as to achieve sales goals efficiently.
03 The specific application of BI tools in pharmaceutical enterprises
With the help of BI tools, pharmaceutical companies can conduct comprehensive and in-depth BI analysis and management in three stages: before, during and after the marketing business needs of pharmaceutical enterprises.
1. Pre-event stage
In the pre-event stage, through BI tools, enterprises can conduct in-depth analysis from multiple dimensions, including market size, regional distribution, competitor benchmarking, customer terminal organization analysis, and brand product line analysis. These analyses help companies build a comprehensive understanding of the market and provide strong support for subsequent marketing plans and strategy development. At the same time, enterprises can also prepare detailed personnel plans, activity plans, and expense budgets to fully prepare for subsequent marketing activities.
2. The stage in the middle of the matter
During the in-process phase, BI is able to monitor the execution of the marketing plan in real time. Through various forms of reports and analysis, such as daily flow reports, sales progress, and monthly business reports, enterprises can keep abreast of the progress and effectiveness of marketing activities. If a product, region, or level of sales is underperforming, companies can quickly locate the root cause of the problem and develop appropriate improvement measures. In addition, it can also provide in-depth analysis of investment promotion agents and channel distribution models to help enterprises better manage agents and distributors.
3. Post-event stage
In the post-event stage, companies can conduct a comprehensive review and analysis of marketing performance and behavior. Through multi-dimensional performance tracking and behavioral analysis, companies can accurately evaluate the effectiveness and results of marketing campaigns. This includes a comprehensive analysis from multiple perspectives such as product, region, delivery caliber, and payment collection caliber, as well as detailed tracking of sales behaviors such as visits, co-visits, target customer interactions, etc. Through these analyses, companies can form effective conclusions and feed back into the next stage of the marketing process, so as to continuously optimize marketing strategies and improve marketing effectiveness.
04 Recommended by FineBI, a domestic business intelligence BI tool
Among the many BI tools in China, FineBI has maintained a leading market share for six consecutive years, and it can perfectly adapt to a variety of complex data visualization scenarios, from revealing the details of data distribution, to tracking the fluctuations of time series, to presenting the visualization of geographic information, FineBI can present professional and efficient processing. At the same time, FineBI has a low threshold and does not require a deep programming foundation to get started. With the help of FineBI tools, pharmaceutical companies can accurately target market strategies, optimize team performance, and improve the quality of customer interactions, and ultimately achieve efficient sales goals, so as to maintain a competitive advantage in the fierce market competition.
FineBI is a benchmark application scenario in the pharmaceutical industry
From top managers to grassroots salespeople, FineBI tools can be used to efficiently view, manage, and execute marketing data in different dimensions. This greatly increases the transparency and usability of data, enabling people at all levels to make decisions based on real-time, accurate data.
1. Sales performance tracking
Through FineBI, sales performance can be tracked in multiple dimensions, including shipment, plate, region, product to customer, etc. These dashboards give top management a complete view of the company's overall sales, including monthly, quarterly, and annual performance, as well as product line contributions and performance trends. At the same time, they can also quickly identify star products and problem products, and provide strong support for subsequent operation strategies and resource allocation.
Grassroots salespeople can view their specific sales performance and call behavior data through the representative-level dashboard. This data not only helps them identify problems and improve in a timely manner, but also provides them with a benchmark against other salespeople, which stimulates their motivation and sense of competition.
2. Formulation of marketing plan
For middle managers, they can gain insight into the sales performance and fluctuations of each region through region-level dashboards, and then formulate targeted regional marketing plans. At the same time, they can monitor the performance and behavior of sales reps to ensure that the sales process is controlled and efficient.
3. Custom analysis
Finefine's self-service analysis function encourages sales staff to explore and analyze independently. Through the two sections of public data and my analysis, salespeople can flexibly conduct data mining and analysis according to their own needs and interests, and discover potential business opportunities and market trends.
4. User permission configuration
In addition, FineBI also provides user permission configuration functions to support multi-role management and team collaboration. With fine-grained data access control, enterprises can ensure that users in different roles can access the data and information relevant to their work, thereby improving productivity and data security.
05 Conclusion
In conclusion, the role of business intelligence BI tools in the field of pharmaceutical marketing should not be underestimated. It not only provides real-time market analysis to help companies develop and adjust strategies, but also optimizes the performance management of teams and improves the quality of customer service. Through BI tools, pharmaceutical companies can more effectively respond to the rapid changes in the market and achieve significant improvements in marketing efficiency. With the continuous advancement of technology, the application of BI tools will become more extensive and deeper, and pharmaceutical companies must grasp this trend to ensure that they stay ahead of the curve in the highly competitive market and achieve sustainable and healthy development.
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