Closed Loop Marketing And E-Detailing
Pharmaceutical marketing has been constantly grappling with addressing lower physician engagement, increasing marketing costs, empowered patient phenomenon and decreasing effectiveness of the traditional sales efforts. The need for new marketing strategy was not brighter or bolder (although that has also been tried), but smarter and engaging.
Closed Loop Marketing CLM and Multichannel Marketing MCM emerged as the new potential solutions for the growing pharma challenges. So much so that future marketing strategies would be incomplete without integration of digital in the marketing mix.
Closed Loop Marketing is essentially a brainchild of the financial and retail businesses which is now applied successfully in pharmaceutical industry as well. The nature of the services entailed creating a system of feedback that had three essential elements; personalization, analytics and responsiveness. CLM is a broad term applied to different medium. In pharma however, the most common medium, but not exclusive to CLM is edetailing. Edetailing is the use of digital interfaces and medium such as mobile devices and tablets to promote marketing messages and engage physicians about the product features and benefits.
Based on the traditional sales and marketing information loophole, the CLM aims to overcome the gap between the two by creating a digital interface that links and updates both teams simultaneously. The same data base which is used by the sales persons is accessible to the marketing team.
Added to it, thesame data base provides and records data and information about different physicians, thereby creating a real time analytic option. This creates one face to the different aspects of pharma detailing, overcoming differences in information between the three sources.
The application of closed loop marketing can help pharma companies create long lasting brand impressions and recalls thereby effectively reducing pharma costs.