Closed-Loop Marketing: Why Is It Important for Pharma Companies?

A strategic part of marketing that relies heavily on data, records, and insights is called Closed Loop Marketing. Due to the growing popularity of many personal digital assistants like tablets and smartphones, there has been a huge implementation of the methods of closed loop marketing. Such devices are then employed to gather customer feedback, grow insights and then analyze them accordingly to adjust marketing approaches and other services.

All over the world, customers today are looking out for services that offer customization and adaptation to their choice. Industries like the retail and pharmaceutical industries are a major part of the picture. It’s more than crucial for pharma companies to have sorted and reliable communication into their practice which will surely enhance the customer experience and focus on a personalized digital strategy.

Closed loop marketing strategies also keep track of how customers landed upon your organization by keeping data about their customer journey which gives a holistic view of the next ideal customer. Broadly it enables pharma companies to put together huge data and information into reader-friendly reports that have the list of your organization’s customers.

What is E-Detailing in Closed Loop Marketing?

It is due to digital technology that Closed loop marketing stood out to be possible in pharma. When electronic devices like tablets were empowered in sales forces, E-detailing app came into existence. Such a practice made presentations more relevant, user-friendly, and engaging producing high-quality data and opening up various advancements in the world of digital.

Electronic detailing is a popular method of increasing efficiency in pharma and medical companies by enhancing customer engagement and offering a more efficient service to healthcare professionals or HCPs and other key stakeholders involved in the procedure. In general, e-detailing makes the content digitized and provides a clear picture of it on a  personal digital assistant device. This in turn makes the content to be interactive keeping in mind that presentations can be tracked and meets all the needs of HCPs.

Target-centric content is much likely to impact the audience with a positive reaction and operate smoothly with the HCPs. Nowadays, data-driven content plays a crucial part in the marketing procedure making sales reps rely more on high-quality insights and reports to come up with meticulous strategies making their and HCP’s job easier. 

Why Choose Closed Loop Marketing?

Having the right people in your organization who are passionate, vibrant and hardworking is simply not enough. You will also need them to sell the accurate products to the right target group, here is where closed loop marketing comes into the picture. 

CLM will enable your business to understand what strategies are working and what are not. The proper communication of the loop between sales and marketing can only be closed through accurate examination of all metrics and insights that will increase the efficiency of your marketing team putting forth better leads in front of sales.

Accumulating feedback and customer personalization helps the pharma companies to reduce costs by investing most in what physicians desire and need. This will further make your brand irreplaceable and efficient making sales reps become efficient and trusted advisors for HCPs. The benefits of closed loop marketing are numerous and all the right brands are reaping all its advantages because:

  • Boost in conversion rates
  • Lesser marketing costs
  • Enhanced customer delivery and experience
  • Effective lead management
  • Better ROI and growth

What is Closed Loop Marketing in Pharma?

Pharma companies have witnessed how data-driven software and marketing automation can improve the efficiency of tasks and content for a well-targeted B2B pharma audience. That’s why for the last few years nearly 67% of pharma companies have started employing closed loop marketing into their services as CLM paves way for omnichannel marketing giving physicians real-time access to reports through Medical Rep Software. There are many other advantages of using CLM in pharmaceutical companies which are mentioned below:-

  1. It is due to Closed Loop marketing that sales reps can look forward to precise targeting and more developed market segmentation according to the data analysis done by them from the CLM reports and makes changes in the marketing strategies.
  2. CLM offers actionable insights giving way to more personalized content and enhanced customer interaction.
  3. CLM indicates sales and expenditures which can be employed for promotional activities, enabling lower cost and improving ROI.
  4. E-detailing in CLM enables the most effective and reliable information for the patients from their physicians. Personal digital assistants like tablets, smartphones, etc deliver effective treatment and guidance to patients by improving care, education and outcomes based on query.
  5. Closed loop marketing gives multi-channel opportunities by offering interactive one-on-one meetings with healthcare professionals by a wholesome experience of self-guided content and on-demand material when HCPs require it for their own purposes.
  6. Apart from marketing efforts, Closed loop communication acts as a strong agent of feedback which can also be done on a personal one-on-one level. When you employ content strategies on healthcare professionals and their actions, you also see how individual people are reacting and understanding to their needs

How To Start Closing The Loop?

Reports say that most physicians already communicate a lot, spending ample time with pharma representatives. But what’s essential in pharma organizations is how the loop can be closed through smart and effective communication strategies. Below we mention some which can help sales reps and HCPs

  1. Go through your omnichannel marketing efforts and other marketing base points and channels
  2. Choose if your marketing automation system is relevant for both marketing and sales reps
  3. Review the methods deployed by the sales teams regarding your campaigns
  4. Comprehend the strategies that are required to the monthly reports generated by both the teams for engaging in data to build insights.
  5. Understand whether your data management software is adequate enough to deal with all your marketing efforts. 

The technological advancements in Pharma companies have gone far beyond due to CLM. SANeForce employs Closed Loop Marketing software that enables highly advanced content management and tracking into a sequential presentation becoming the bridge between sales reps and HCPs for improved management.

You may be interested in: 5 Business Rules to Forget About ASAP