In recent years, the pharmaceutical industry has enjoyed startling growth. Between 2020 and Q3 2022, the industry saw a surge of 20%, with the U.S. alone accounting for sales nearing $605 billion.
This growth underscores the escalating demand for adept management solutions and why the pharma industry must reassess its CRM expectations in 2024. Legacy CRMs won’t cut it anymore. A global survey by McKinsey foresees significant workplace shifts spurred by rapid digitalization, automation, and other emerging trends. These changes will call for modern, unified CRM solutions.
As the pharma industry navigates these digital currents, the primary challenge emerges: operationalizing Life Sciences Customer Experience (CX). The solution is to choose a CRM that adapts to this new normal and anticipates the future.
This blog will look at some must-have features in pharmaceutical CRMs for a future-ready approach.
Table of Contents
What is Pharmaceutical CRM?
CRM, or Customer Relationship Management, is a solution designed to manage and analyze customer interactions throughout their lifecycle. Its goal is to:
- Enhance customer relationships,
- Increase sales,
- Streamline processes,
- Boost profitability.
CRM takes on a unique role in the pharmaceutical industry. It concerns patient health, physician needs, and drug efficacy. Pharmaceutical CRM fosters relationships between pharma companies, doctors, pharmacies, and patients. This solution assists companies in tracking patient feedback, managing drug launches, and tailoring marketing strategies.
Now, many industry regulations and a vast product range within pharma exist. CRM in pharma ensures that companies maintain compliant communications while offering personalized solutions for stakeholders.
7 Benefits of CRM for Pharmaceuticals
The pharmaceutical industry, known for its complexities, is undergoing rapid transformation, and CRM solutions have emerged as a beacon of operational efficiency. These solutions offer a spectrum of benefits and address the sector’s unique challenges and openings.
The pharmaceutical industry is undergoing rapid transformation, and CRM solutions have emerged as a beacon of operational efficiency. These solutions offer many benefits and address the sector’s unique challenges and openings.
A compelling illustration is Exeevo’s intervention for a Pharma company on the cusp of expanding into the Oncology market. The company faced many challenges, from a lack of omnichannel capabilities to legacy CRM solutions impeding growth.
With Exeevo’s expertise, they transitioned to an intelligent next-generation CRM. It enabled them to:
- unify data management
- streamline operations
- discover new avenues for commercial growth
Recognized by Gartner, IDC, and Everest as the only alternative to Salesforce-based systems, Exeevo is credited as the sole provider of a consolidated data model tailored for Pharmaceutical Companies. Our unique solution ensures that disparate information sources are seamlessly integrated, which fosters data-driven decision-making and facilitates a 360-degree view of customer interactions.
Let’s dive into the seven benefits of CRM for pharmaceuticals:
1. Enhanced Organizational Performance
The integration of a CRM can transform an organization’s operational dynamics. It streamlines individual processes and elevates the overarching performance of the entire organization.
At its core, the strength of CRM lies in improved data management. This seamless consolidation of data paves the way for:
- Sharper decision-making;
- Agile response times;
- Optimal resource deployment.
As data becomes more accessible and interpretable, teams within an organization can operate with enhanced precision and foresight.
The pharmaceutical industry’s trajectory is tilting towards a customer-centric structure in the modern era. Such a monumental shift demands robust solutions to support this vision of the future.
Keen to understand this transformation further? You can learn more about the future of Pharma and its evolving customer-centric approach here.
2. Streamlined Workflow Automation
The complex processes within the pharmaceutical world, ranging from rigorous clinical trials to targeted marketing, demand precision and efficiency. Traditional workflows, often manual, can be prone to errors and lags. CRM solutions tackle these inefficiencies head-on. They automate and refine workflows to ensure accuracy and speed.
Sanofi China’s journey with Exeevo’s Omnipresence CRM exemplifies this transformation. Outgrowing their legacy CRM, they embraced Omnipresence for its scalability and unparalleled capabilities. Our CRM, leveraging Microsoft Dynamics 365, integrates varied data sources and employs advanced analytics. It facilitates agile decision-making and exposes new opportunities.
A misalignment exists between pharmaceutical companies and healthcare professionals (HCPs) in information dissemination. On one side, the pharmaceutical industry shares valuable information and services with HCPs. Conversely, HCPs wish the data was better aligned with their needs and preferences.
This intersection is where Exeevo CRM shines. Think of it as a translator between the two, which ensures that what the pharmaceutical industry offers matches exactly what HCPs desire.
3. Data Accuracy
Accurate and reliable data facilitates efficient operations and is crucial for:
- Patient safety,
- Regulatory compliance,
- Strategic decision-making.
Enter a pharma CRM. It ensures companies can access the most accurate, up-to-date, and dependable information.
We can see a testament to this capability in the journey of Sanofi, China. Faced with the intricate challenges of Chinese Data Residency and PIPL standards, the company sought a solution that combined compliance and precision.
Built upon the robust infrastructure of Dynamics 365 and 365 Copilot, Exeevo’s Omnipresence emerged as the optimal choice for Sanofi. It ensured data accuracy and met Sanofi’s stringent security and compliance requirements, thanks to its seamless integration with 21Vianet, Microsoft’s trusted partner in China.
4. Advanced Customer Insights
Data analytics has revolutionized the pharmaceutical sector’s understanding of patient behavior and preferences. Modern CRM solutions sift through enormous data volumes and convert raw information into invaluable insights. These insights influence everything from drug development to strategic marketing initiatives.
Exeevo is the sole provider capable of consolidating 3rd party data into one cohesive source. It offers a unified perspective.
Are you eager to unlock a 360-degree view of customer insights within Life Sciences? Watch our webinar for more information.
5. Omnichannel Customer Experience
A unified customer experience means delivering consistent and accurate interactions at every touchpoint. Whether it’s a patient, healthcare provider, or distributor, their journey with a pharma company should feel seamless.
Exeevo excels here. Our Omnipresence solution ensures a comprehensive 360° customer view and facilitates engagement across all interfaces.
Powered by Microsoft Cloud for Healthcare, Exeevo offers a streamlined experience for Pharma and MedTech organizations, making it a top choice for many. Learn more about Exeevo’s impact and growth.
6. Increased Operational Efficiency
The pharmaceutical industry faces challenges from drug launches to clinical trials. CRM solutions like Exeevo Omnipresence CRM target these issues while streamlining operations for faster results.
Sanofi China, leveraging Exeevo, has transformed decision-making and market strategies. With OneCRM’s unified data and real-time insights, processes are more efficient, and productivity soars. Integrating this solution eliminates unnecessary complexities and offers quick access to vital customer information. Combined with Exeevo’s automation, this optimization means Sanofi China is poised and ready for future opportunities.
7. Cost Efficiency
The pharmaceutical arena is fraught with high expenses: drug development, clinical trials, and marketing. CRM solutions are crucial here. These solutions optimize resources and manage finances more effectively. While CRMs can be pricey due to complex industry relations, vast customer data demands, and strict regulations, Exeevo Omnipresence stands out.
Our unique single license framework makes it a cost-effective solution and reduces ownership costs amidst these challenges.
Are you excited about a CRM tailored for financial efficiency in this complex industry? Explore Exeevo Omnipresence.
14 Key Features to Look for in a Pharmaceutical CRM
Efficiency is necessary in an industry where precision and timely decisions can impact outcomes. Pharma companies must make the right choice with their CRM solution. A Pharma CRM should be:
- Metting unique challenges and sector intricacies
A system built on trusted technology, like Microsoft, can ensure easy deployment and streamlined integration. Moreover, CRMs with a comprehensive 360° view of customers trace every step of their omnichannel journeys. This holistic perspective aids in anticipating needs and delivering exceptional service.
Sanofi China’s journey offers a perfect example. Outdated legacy solutions hindered their growth. They faced data management, flexibility, and scalability obstacles. These challenges stifled their speed and growth aspirations.
Yet Sanofi recognized that beyond these operational hurdles lay an opportunity to redefine its customer experience and set a benchmark in the industry. Their decision to adopt OneCRM was about transformation, agility, and a forward-looking vision.
- Sanofi’s adoption of OneCRM positions them as a digital-first leader in China.
- Enhanced customer experience across a digital era.
- Streamlined operations, improved decision-making, and reduced ownership costs.
- Efficient sales plans, optimal HCP engagement, and top-notch go-to-market strategies with OneCRM.
Selecting the appropriate CRM is decisive for the success of your organization. Let’s explore the essential features you must look for when choosing a pharma CRM.
1. Advance Analytics
A CRM equipped with advanced analytics becomes an indispensable tool in this setting.
Think about the drug development journey. It starts at the conceptual stage and moves to exhaustive clinical trials. Then, it moves into market assessment before the company launches the product. Each step demands data insights, interpretation, and forecasting.
This is where the might of predictive analytics comes to the forefront. Imagine the power of forecasting drug demands, gauging patient reactions to specific treatments, or even anticipating market fluctuations.
A CRM system with such analytical prowess provides a roadmap for the future. Encouraging companies to take a proactive approach instead of a reactive one ensures they maintain a competitive edge and make accurate, well-informed, and future-ready decisions.
Drug development is a complex journey with many steps. That’s where CRM solutions play a significant role, automating many manual tasks. This means less time spent doing routine things and more time focused on the main work. CRM solutions also make workflows smarter.
CRM solutions organize tasks in a way that makes sense and reduces delays. This helps bring drugs to market faster. A McKinsey & Company article explores the potential of merging faster drug development with heightened quality and compliance:
- Enriched patient and healthcare-professional interactions
- Provided deeper insights,
- Informed decision-making,
- Cut development costs by as much as 25 percent.
The pharmaceutical industry employs a range of solutions, from those focused on research and development to those aiding commercial processes. A CRM that can connect with these solutions is a must-have. Why? Because when solutions operate without hiccups, data remains consistent and accurate. Seamless integration is vital for this.
It ensures that every piece of information, no matter the source, finds its place in the CRM without distortion. Integrating a CRM with other solutions, like ERPs for management, LIMS for laboratory data, and marketing solutions, can elevate its utility.
Such integration helps in:
- Streamlining processes,
- Reducing manual data entries,
- Avoiding data-related errors.
When everything works harmoniously, the pharmaceutical company benefits from efficient processes and reliable data.
4. Customized UI/UX
Pharmaceutical professionals have varied roles and distinct tasks. Researchers might look into data sets and trial results while field reps engage more with client data and sales trends. Given these diverse needs, a one-size-fits-all interface won’t cut it. A customized UI/UX addresses this gap.
A CRM tailors the interface to the specific needs of its users to make their daily tasks more manageable and straightforward. Simplicity and ease of use lead to higher user adoption.
When users find a system intuitive, they are more likely to use it regularly. This ensures more consistent use of the CRM and improves the accuracy of the data entered. Accurate data is the foundation for any successful pharmaceutical venture, and a tailored UI/UX is a stepping stone to achieving that.
5. Security and Compliance
In the pharmaceutical industry, data holds a special place. Think of patient records detailing health journeys and histories. Add to that the value-laden proprietary research showcasing years of hard work and innovation. Such data is delicate and needs safeguarding.
With the rise of digital threats, it’s important to ensure the security of this information. CRMs are solutions that house this data, so their security features should be top-tier.
But it’s not about keeping data safe from external threats. Strict rules and regulations apply in the pharmaceutical field. These guidelines ensure patient safety, quality control, and ethical practices.
For a CRM, being compliant is a must. The system should have the capability to steer through the tight regulatory paths to ensure it securely stores the data while being compliant with set guidelines.
6. Partner Ecosystem
Whether joining forces for research and development or teaming up for marketing campaigns, working together can amplify results. A robust CRM doesn’t serve as a bridge between teams and partners.
With a solid partner ecosystem feature in a CRM, companies can manage these collaborations. This means smoother data exchanges, efficient communication, and a clearer view of joint projects.
It’s like a meeting room where everyone has the solutions they need to work together. The result? Speedy processes and ensure that everyone is on the same page.
Plus, a CRM equipped with this feature can become the central hub when it’s time for joint ventures. It can make planning and execution much more accessible.
7. Single License Pricing
Managing expenses is crucial for pharmaceutical companies. With significant funds going into research, development, and marketing, it’s vital to have clarity on other operational costs. One such area is the CRM system.
CRM with single license pricing offers transparency and predictability. This approach means companies know upfront what they are investing in. There are no surprises or hidden costs. It helps with budget planning and ensures the focus remains on critical activities, like bringing life-saving drugs to market.
Also, a transparent pricing model means easier financial planning and reduces resource strain. Understanding and controlling costs can make a big difference in a sector where every penny counts. Adopting a CRM with single license pricing is an intelligent move that ensures cost efficiency and transparency.
8. Commercial Operation
The sector of pharmaceutical commercial operations involves a lot. It encompasses everything from doctor engagements to delivering medicines to local pharmacies. Simplifying this vast sales process is where CRM solutions step in. They help organize commercial activities, enhance outreach methods, and provide better sales predictions.
With organized data and guided analytics, pharmaceutical companies can plan better. This ensures the right products reach the right people at the right time.
Exeevo’s webinar is the perfect guide if you’re curious about how commercial operations are evolving. It highlights insights into new commercial modules and identifies critical hurdles to achieving sales excellence.
9. Data Management
Pharmaceutical companies deal with a flood of data every day. Consider the data from a clinical trial, not to mention feedback from patients using various medications. It’s an immense volume, and you must manage this data well.
A CRM system offers solutions to sort, analyze, and store this data in a way that’s both organized and accessible. Proper data management is about making that data work for the company.
It doesn’t matter if you make decisions around drug development, marketing strategies, or patient care. If clear and accurate data supports those decisions, those decisions will be far more informed. Data management capabilities are a must-have feature when choosing a CRM for the pharmaceutical sector.
10. Content Management
Pharmaceutical companies handle various types of content, including detailed research papers and engaging marketing materials. With such varied content types, a systematic approach to management becomes non-negotiable. CRMs with content management capabilities are designed for this.
Centralizing content ensures that every piece, whether a scientific study or a promotional pamphlet, is accessible. This centralized approach saves time and maintains brand uniformity. Every material released aligns with the company’s brand voice and image.
With the industry’s strict regulations, ensuring that content meets set standards is paramount. A centralized content management system in a CRM aids in this, as it ensures every document, graphic, or video adheres to the regulations.
11. Event Management
Event Management is an essential feature in pharma CRM. It’s especially so in the pharmaceutical industry, where events like medical conferences and product launches play a crucial role.
Exeevo’s Event Management Product is designed for this industry. It boasts features like:
- Venue & Vendor Management
- Event planning and Marketing
- Attendee Management
- Speaker Management
- Budget and Financials
- Workflow & Content Management
- Advanced Analytics
For more details, visit Exeevo.
When choosing such software, key factors include regulatory compliance, system integration, and scalability. Exeevo stands out, ensuring HIPAA and GDPR compliance, integrating with existing systems, and offering scalability to match your needs. Plus, it allows customization for a unique brand feel and offers solid data analytics.
12. Marketing Automation/Customer Journeys
Automated marketing campaigns tailored to individual journeys can boost a pharma company’s outreach. Personalizing these campaigns allows companies to boost engagement and results in improved conversion rates with a significant increase in ROI.
Exeevo’s Marketing Automation is a shining example of this. Our AI-driven solution, backed by Microsoft Dynamics 365®, facilitates personalized journeys across various touchpoints. This strengthens relationships and boosts brand awareness and customer loyalty. With Exeevo, businesses can connect with their customers to weave meaningful relationships.
Features like segment building for contacts and real-time A.I. recommendations ensure businesses can reach customers. Its compatibility with solutions like Exeevo Omnipresence and Microsoft Teams ensures a unified solution for all marketing needs.
13. Analytics, Generative AI & Emerging Technologies
The potential of Generative AI within CRMs offers a new dimension to customer management. Imagine a CRM that stores and analyzes data and uses A.I. to create new insights and automate tasks. That’s the power of Generative AI.
CRMs like Exeevo leverage this potential to offer solutions that can predict customer behaviors, automate critical processes, and provide unique customer insights. These essential features enhance efficiency and foster better relationships with customers.
As 2024 unfolds, embracing CRMs with such advanced features is a necessity. It’s about being future-ready and ensuring your customer relationship management is ahead of the curve. Adopting this tech-driven approach is a sure way to lead in customer management and make informed decisions.
14. Deployment & Support
Time is often of the essence in the pharmaceutical world. When integrating new solutions like a CRM, quick and hassle-free deployment ensures that business operations continue without disruptions.
Companies need reliable backup in the form of dedicated support. Facing an issue during a major drug launch or an important sales meeting can be daunting. Here’s where dedicated support becomes a lifesaver. It addresses problems and ensures smooth software adoption while helping with timely updates.
While rapid deployment ensures a smooth start, unwavering support guarantees a steady run. Both are essential for making the most out of a CRM. It allows companies to focus on what they do best: innovating and delivering vital medications.
Looking for the Best CRM for Your Pharmaceutical Company?
A bespoke CRM often becomes the cornerstone of success in the complex pharma world. Exeevo Omnipresence CRM, built on a trusted technology stack, offers features specifically designed for this intricate sector. But what sets it apart from the rest?
Take the case of Specialty Pharma, a growing company that faced many challenges. Their struggles were evident, from recognizing the lack of Omnichannel capabilities that hindered their go-to-market models to the difficulties of entering the Oncology market without robust customer engagement tools. Their legacy CRM failed to support their ambitious growth plans and couldn’t unite data to derive critical customer insights.
Exeevo Omnipresence CRM provided a device-agnostic platform, integrated with existing data solutions and cut costs by eliminating outdated systems.
- Remarkable growth
- Enhanced internal collaboration
- The discovery of new commercial growth avenues.
Looking to elevate your pharmaceutical business? Exeevo is your answer. Discover more about how Exeevo Omnipresence CRM can be a game-changer for your company here.