Pharma’s Missed Opportunity: Maximizing the Impact of NBA

Pharma’s Missed Opportunity: Maximizing the Impact of NBA

The pharmaceutical industry is changing fast.

The pharmaceutical industry is changing fast. Traditional, product-driven strategies are being replaced by customer-focused approaches. A key tool in this change is the AI-powered Next Best Action (NBA), designed to guide marketing and sales by predicting the best next step for a customer. With the rise of omnichannel marketing, which offers a smooth customer experience across different communication channels, the industry is ready for new ideas. However, while these strategies offer a tailored and customer-focused experience, many pharma giants struggle to get the most out of their NBA programmes. This leads to missed chances and less-than-ideal business results.

The Data Challenge

While many might think that rules or privacy issues are the main problems in adopting NBA, the real challenge is elsewhere. Lack of meaningful and integrated data within pharma companies are the main issue. These companies have a lot of clinical data but often find it hard to gather and use commercial data. This is because of separate CRMs, ad-hoc or event-specific platforms, disconnected campaigns, and local systems that don’t always recognise the customer. To improve the use of NBA, companies should:

🔹 Integrate Commercial Platforms: Combine different systems to get a full view of the customer.

🔹 Prioritise Identity Management: Use strong solutions that always recognise and link customers on different platforms.

🔹 Global Data Strategy and Governance: Develop a unified data collection and management strategy that ensures consistent and effective data handling across the organisation. Implement governance measures to oversee and standardise data practices, ensuring data is shared and utilised effectively.

Scaling NBA and Omnichannel

Making these strategies work on a global scale is tough. The main problem is finding the most important touchpoints that fit each market’s needs. In this infographic by Axtria shows that global teams often pick touchpoints that are easy to use, missing the special needs of each market. To fix this, companies can:

🔹 Identify Market-Specific Touchpoints: Learn about each market to find the best touchpoints.

🔹 Engage Local Teams: Work with local teams to make sure NBA strategies fit their goals and market needs.

🔹 Prioritise Value Over Ease: Focus on touchpoints that give the most value, even if they are harder to use.

Defining Success

NBA success isn’t just about revenue or retention. It’s also about:

🔹 Increased Agility: Changing strategies quickly based on new information.

🔹 Building Trust: Making sure NBA suggestions fit the big picture and make sense to users.

🔹 Connecting Data to Outcomes: Seeing the benefits of past data efforts and using them for future wins.

An HCP once said to me, “I don’t understand why a Pharma company that has worked with me for so long can’t know me as well as YouTube knows me.” This shows the need for pharmaceutical companies to improve their digital experiences to meet HCPs’ online experiences and evolving expectations.

The journey to use NBA fully in the pharmaceutical industry might have challenges. But with the right strategies and a focus on customers, it’s a journey that promises big rewards.

Looking to navigate the NBA challenges with expertise? Contact us to explore how we can help you and discuss solutions tailored for your unique needs.

Latest Articles

All Articles

How to Implement a First-Party Data Marketing Strategy

Dive into the world of first-party data marketing strategy, exploring what it is, why it matters, and how to harness its po

November 1, 2023

Social Media Listening in Pharma Brand Planning

Social media has unleashed valuable unfiltered patient insights, shaping pharmaceutical marketing strategies.

October 16, 2023

Loop Horizon’s Storage Helper

Loop Horizon’s Storage Helper Extension is a useful tool that provides UI to handle all your browser storages on Adobe Laun

October 9, 2023