How to Improve Sales in a Pharma Company?
As new medicines and technologies evolve, the pharma industry faces challenges in meeting physicians face-to-face due to their varied locations and the global nature of consultations. To improve sales in pharma amidst this highly competitive and regulated landscape, brands need robust strategies and powerful tools to navigate these obstacles effectively.
Data-Driven Insights and AI
Data is the key to unlocking great sales strategies, Harley Davidson is a great example of harnessing data to increase sales using AI. Many sectors and brands have started harnessing the power of data with the help of AI-powered tools. Analyzing prescription trends, patient demographics, prescription behavior, etc data analytics can provide accurate insights so companies can tailor their marketing efforts to meet the preferences of a customer segment.
Leverage CRM and advanced systems to optimize resource storage and access to all team members and stakeholders. Multiplier AI, for instance, provides tools like HCP IQ that enable pharma companies to understand market dynamics better and enhance engagement efforts through customer segmentation and targeted data insights.
Optimize Digital Marketing and Improve sales in Pharma
As much as traditional methods of marketing are successful strategies to maintain strong relationships with customers, it’s time to move on, if you haven’t already, to digital marketing.
Digital marketing is a powerful tool to reach a global audience through social media, blogs and websites. Brands can also leverage platforms like GoogleMeet for webinars, one-on-one meetings with HCPs and KOLs, etc. SEO and targeted content marketing help to attract and retain interested users by providing educational and informative content at the tip of their hands.
1. Digital Technologies
Incorporating technologies like AI-driven tools can optimize interaction and target marketing strategies by providing real-time insights and recommendations. Consider the example of Multiplier AI tools, if provided data, they can segment data based on similarities and aid in refining sales strategies by providing deep insights and market predictions. Other tools like virtual assistants and Chatbots powered by AI allow to improve customer engagement by providing quick responses and even using previous interactions and user data to give personalized responses. Virtual Reality can also be leveraged for training sales reps and influencing investors and clients.
2. Train the Staffs
Sales Representatives should be well-educated on the product they are about to sell and know about the HCP they are targeting, regulations, market trends, etc. Provide training to improve their skills by giving scenario-based training, etc. Track their performance and offer them regular feedback to improve if there are any shortcomings.
3. Personalized Content Marketing
HCPs and Patients value information, so provide them with transparent information to build trust and loyalty. Content can be in any form: podcasts, blog, YouTube video, Instagram posts, etc. Use AI, for instance, Multiplier AI, to segment data based on content preference and channel reference and use the insight to target content. This enhances customer engagement and thus helps in improving sales in pharma.
Improving sales in the pharmaceutical industry is not a one-step process, it is an amalgamation of data-driven insights, digital marketing, etc in compliance with industry regulations. By adopting these strategies and leveraging AI tools pharma companies can boost their sales.