Present pharmaceutical market is very dynamic driven by highly informed customers expecting to get the best product at a fair price. Globalization, androidization and digitization has opened new communication channels, speed up learning and their decision-making processes. Deep understanding of the decision making triggers is very important for getting customers approval. And for understanding decision making triggers you need to study your customers and do effective segmentation and targeting. Hence contact management software is in trend.
Segmentation identifies unique sets of customers who possess similarities relevant to a products value proposition. Similarities like motivation, behavior, potential and other influences. Effective segmentation is very important to marketers to develop and implement successful marketing strategies.
Unfortunately, many segmentation efforts fail to deliver the market insights necessary to formulate sales and marketing strategy due to the many reasons like:
- Sales representatives were unable to determine the segment to which each customer belongs; without representatives knowing their customers’ segments, the segmentation was of little value in terms of allocating resources and communicating with customers.
- Sometimes the marketing team developed too many segments and due to this the team could not develop tactics for each segment, resulting in an overly complex solution with too many segments and lot of confusion.
- The sales team is unable to act differently across segments due to the lack of marketing materials that supported communication with each segment.
Due to the above mentioned reasons the Pharmaceutical companies are skeptical about the value of segmentation initiatives and their ability to deliver results.
But in today’s environment of fiscal constraint, a company needs to segment its markets and prioritize sales and marketing expenditures based on the expected return on investment in each segment. Here a dynamic contact management software plays a pivotal role to help the Pharma producers to effectively segment the HCP’s (Health Care providers).
Modern contact management software allow your medical reps to add contacts of HCP’s electronically and segment it effectively by selecting prefixed parameters like field of working, value of prescription, associating brands, power of influence and many more after getting an approval of his or her manager. Modern Contact management software also offers a complete compilation of all interactions with your customers.
Information about your customers, all dealings with your customers, history and key communications including emails, phone calls, chats etc. and also eliminate the duplication of data and provide your marketing team the unique set of customer data with all required informations to develop marketing collaterals and strategies and implement it effectively.