The closed-loop marketing approach uses data-driven actionable insights. On the whole, it’s done by capturing (on an ongoing basis) the healthcare professionals (HCP) and stakeholders’ feedback, behaviours, and preferences and updating the information in real-time.
It allows enhancing personalization by looking at the audience’s reaction. And with that, readjusting the communications if needed. All with improved message tailoring and added value content. These elements address pain points by presenting solutions to their needs.
Multi-disciplinary collaboration, between marketing and sales teams, is key. This, along with a shared Customer Relationship Management (CRM) tool. It enables consistency and clears metrics on the campaign’s performance to shape interactions.
Tech advances of the latest years added a wider range of digital tools/software. Pharma teams can make use of the business intelligence to have an updated 360º view of the customer. Not only that but also trace clear paths to optimize prospect-to-lead and lead-to-customer conversions.
Close-Loop Marketing (CLM): A Plus for Pharma Companies
In pharma, the integration of personal digital assistants (PDA) helped establish a wider foundation for the closed-loop approach. In fact, it was possible through the collection of user feedback, data analysis, and accurate actionable insights with real-time adjustments made possible.
For HCP the goal is to deliver the best health experience and favourable outcomes to patients. Thus having the medical data at hand is a must for the patient’s support and guidance. In other words, for the practice activities and professional learning path.
For the patients, the main goal is to become knowledgeable of their care options. Now it’s possible in a transparent and easy-to-comprehend way. So providers enjoy multi-channel and mobile-friendly content. Especially if it fits with the patient’s pain points and meets the educational need at the right time.
Using a closed-loop model in the strategy guarantees a more spot-on targeting. This with optimized market segmentation made possible by data analysis. After all, having the reports and performance results per base creates more meaningful interactions and valuable experiences for the audience.
Using the conclusions retrieved from the Closed-loop marketing application, content develops and delivers. All by using a clear vision of the needs to address and solutions to show. Of course, the goal is to encourage engagement, develop the relationship, and reach conversion.
One must look at HCP and other decision-makers preferences and predict their expectations with real-time adjustments. In the long run, it helps pharma teams to focus their efforts on what’s considered most relevant by the audience. There are examples such as case studies, explainer videos, blog posts, or social proof.
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CLM and Targeted Approaches
As can be seen, digital customers expect valuable interactions, within a hybrid setting of business relationship development. Catering to their preferences creates positive customer experiences throughout the journey. In the long run, those lead to an effective conversion.
CLM enables a targeted approach. It has higher profile awareness that allows better segmentation. As well as the creation of personalized resources. These elements ensure a continuous flow of interactions considered as added value by the audience.
For the most part, it’s vital to know what is relevant and needed for each stage. All by generating data-driven insights that show the right direction and possible paths. On the whole, the preferences of the audience must be well accounted for and catered to.
Closed-loop marketing Benefits: Important to Note
Full awareness of the activities and efforts performance enhances the communication quality. It also narrows the targets to the ones with the higher probabilities to convert and fit size with the product/service offered. This means higher qualified lead generation and conversion.
The main goal? Becoming a trusted partner and go-to source for accurate educational medical data. For the most part it becomes easier to achieve through cost-effective data collection and content personalization with a positive impact on:
- Conversion rate;
- Budget allocation
- Customer experience
- Lead generation;
- Revenue growth; and
- Return On Investment (ROI).
- A closed-loop approach allows to reshape and redirect at any moment. And we mean from the very beginning with an optimized assessment of the real performance results;
- There are several possibilities when it comes to data collection sophistication. Pharma teams can see how to encourage prescription willingness on HCP and treatment decision-making on patients. Creating tailored content to suit both the needs to meet and the interactions expectation;
- Having the time constraints of the hyper-connected healthcare environment in mind, resonating with the audience in a continuous optimization process to deliver value in each interaction is essential to the B2B pharma audience;
- A shared view between marketing and sales teams is crucial. It enables a successful customer-centric approach. One that leads to faster relationship development and trust-building. All while giving the expected support and guiding prospects into leads and leads into customers.
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Closed-loop marketing Must-Haves: Pharma Tech Stack
CRM – Customer Relationship Management
B2B pharma marketing needs a CRM system to pursue its activities. Generally speaking, it’s vital to generate an impact on relationship development, customer retention, and sales growth. All by collecting data from previous interactions, and analysing for future communication improvement. In fact, it’s possible through accurate insights, taking advantage of the cross-sell opportunities cost-effectively.
CMS – Content Management System
In fact, having all content aggregated within a CMS, enables message consistency, fit-to-size communication flows, and a better understanding of the audience behaviours and segments.
Marketing Automation Platform & Analytics
It’s vital to connect CRM with CMS. With that, you are automating the steps through well-identified paths – e.g., in the shape of forms or landing pages – and preferred channels. You’re also enabling analytics from automated marketing campaigns collected through performance measurement.
Marketing & Sales: Closing the Loop
In brief, to ensure all of the closed-loop model advantages, pharma companies must:
- Review their omnichannel presence, journey touchpoints, and key channels to use resonating with the targets’ needs and preferences;
- Ensure a marketing automation system that is adequate for both marketing and sales teams shared usage;
- Combine marketing teams’ activities with sales reps’ campaigns. Creating a unique flow of later interactions. Ones that organically go with the target from prospect to lead to customer;
- Identify the needed internal process and tactics to effectively make use of and act upon data-driven insights in a combined effort from the customer-facing teams;
- Increase growth opportunities awareness through an adequate data management system to enable all full potential of a closed-loop approach and a clear notion of the “do’s” and the “don’ts”.
Closed-loop marketing 2.0: The Takeaway
Closed-loop marketing strategy is an ongoing process. Organically the combined efforts of the marketing and sales teams generate more qualified leads. Moreover it moves prospects into leads and effective conversions moving leads into customers.
Data fuels content. And content also fuels data in a win-win exchange. One that enables high-value targeting with fit-to-size valuable interactions.
It’s possible to identify behaviours and preferences and meet them in a reactive model. Altogether, this model considers and integrates in real-time the changes needed to proceed in the right direction.
Data-driven insights grant a clear view of what works and what doesn’t. It also has the possibility to separate the elements that need adjustments. The main catches? They help to save time and money from the very start to the very end of the campaign.
Content updates may include the review of key messages or graphic quality improvement. Or equally, the creation of more interactive features or attractive resources.
All in all, closed-loop marketing tactics are very useful. They can become a powerful weapon for pharma teams. This considering:
- The complex customer collective of the pharma audience;
- The comprehensive medical data to share;
- Time constraints in the HCP schedules; and
- The tight timelines for patients’ decision-making processes.