The Authenticx team attended Reuter’s Pharma Marketing 2022 to join the discussion on how pharma marketing leaders must evolve to meet customer expectations as the pharma industry anticipates what’s next in healthcare innovation. This conference was filled with conversations on challenges facing pharma marketers and discussions on how to adapt and enhance customer experience strategy to be more innovative and effective as the industry looks forward.
Specifically, Authenticx CCO Leslie Pagel highlighted how everyday conversations can be a valuable, renewable source of insights that both identifies bottlenecks and monitors success so teams can create a high-quality customer experience (in a way surveys cannot).
As our team listened to presentations, participated in conversations, and networked across teams, we identified the following takeaways on why investing in a source of renewable insights will be critical for maintaining relevancy in the market.
Healthcare is Facing a Transformation
Science and new technologies are changing the market and how pharma organizations adapt to medical and healthcare innovation. There are actual and anticipated market changes that require agility, flexibility, and creativity in executing a strategy that is embraced by a highly complex and complicated healthcare industry. There is a need for pharma marketers to not just change processes, but to consider an entire change in mindset.
The patient journey is complicated, leading marketers to regularly consider the impact of the right message being on the right channel at the right time targeting the right customers.
As the pharma industry comes to understand the true scope and parameters of the transformation, only then can innovative products and services be configured to meet those needs. There will be a call for effective change management, flexible development, and a road to success in scaling initiatives. That starts with a reliable source of insights.
3 Reasons Conversational Data is Revolutionizing Customer Experience
Reason #1: Traditional surveys are not offering enough context
As an industry, there’s a need to shift away from survey data to better capture, analyze, and listen to customer conversations. Customers don’t care about survey scores, instead they just want to be heard and understood – traditional methods of doing this aren’t working.
According to McKinsey, 93% of CX professionals currently use a survey-based metric as their primary means of measuring CX performance, but only 15% of leaders said they were fully satisfied with this metric.
So if surveys aren’t working – what does? The single most powerful source of insights is to analyze the interactions your customers directly have with you. And that data is everywhere. There’s a vast array of conversational data channels pertaining to the customer – from calls, texts, emails, messages, online hubs, and more – that offers a renewable source of information that evolves with the customer journey. Conversational intelligence offers infinite feedback from interactions, that unlike surveys, is not depleted over time and provides ongoing context.
Reason #2: The pace to implement change is getting quicker
Pharma organizations are finding the pace of the market is only getting quicker. There is a lot of opportunity, but the pace from ideation to execution is only speeding up. To remain competitive, teams need to be agile and highly collaborative across departments, channels, and functions.
Technology innovation is making this possible as more interactions and conversations are able to be aggregated and analyzed at a macro level. Consider the adoption of tools, such as artificial intelligence and machine learning, that make it possible to analyze conversations throughout a customer’s journey from beginning to end. Insights gleaned from customer interactions allow pharma marketing leaders to truly understand their customers and can rapidly prompt action. An ongoing feedback loop provides instant learning, insights, and actions that help teams respond and implement necessary changes.
Reason #3: Healthcare is embracing a customer-centric mindset
In healthcare, it’s important to remember at the end of the day, there are human beings pursuing the best path forward for their health and well-being. There has been a shift in how customers want to be interacted with and organizations are creating structures to support those needs.
In practice, this has led to more seamless digital experiences, enhanced personalization, and more targeted segmentation. In order to assess factors of success and change management, leaders are flipping the model from what they think is right, to what value is being added for customers. This helps in brand launch and in maintaining patient adherence.
Finding insights that are relevant, renewable, and encompassing is an important first step to evaluate how your brand can find value in a fast-paced, competitive healthcare environment.
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Download the Customer Voices in Healthcare Report: The Rise of Customer Centricity Across Healthcare.
Tell me more about how Authenticx works with marketing leaders
Marketing leaders need comprehensive, relevant customer feedback in order to build a customer-centric brand strategy. Authenticx surfaces actionable customer feedback so marketing teams can make better decisions by listening directly to the voice of their customers. We help leaders strategically invest to maximize data that you already have to deliver on ROI.
Authenticx was founded to analyze and activate customer interaction data at scale. Why? We wanted to reveal transformational opportunities in healthcare. We are on a mission to help humans understand humans. With a combined 100+ years of leadership experience in pharma, payer, and healthcare organizations, we know first-hand the challenges and opportunities that our clients face because we’ve been in your shoes.
Want to learn more? Contact us!