IQVIA technologies recently had the opportunity to partner with Pharmaceutical Executive in delivering the TechIQ webinar titled: How Next Best Can Transform Decision-making. We talked through industry shifts that are driving the need for hybrid engagement models, the state of Next Best implementations in pharma companies today, and how IQVIA Next Best can help orchestrate omnichannel experiences.

And to give you a glimpse, here are some takeaways from the webinar:

1. The Better Normal: Hybrid Engagement Models

There is no doubt that COVID-19 accelerated the digital transformation of pharma companies. While the use of digital channels has been welcomed by HCPs, face-to-face meetings will continue to play a dominant role as companies increasingly adopt hybrid engagement models to create “a better normal”. However, quality engagement remains a challenge as 80% of customer-facing activities are inefficient1. Now that 40% of an HCP’s brand preference is attributed to the customer experience1, companies must invest in technologies that help them deliver personalized, coordinated messages at the optimal time through the right channels for maximum business impact.

2. Relationship between Next Best (Action), Omnichannel Orchestration, and Dynamic Segmentation

These tools leverage the same data, analytics, systems integration, and technologies while serving different use cases. Next Best is best suited for reinforcing marketing tactics such as reminders to send promotional emails after a sales call. Omnichannel orchestration is used to connect and automate activities across channels such as an alert to call on a customer after webinar attendance. Dynamic segmentation helps improve targeting for omnichannel activities with capabilities such as route planner. These relationships are not exclusive and there is often overlap between programs.

3. Next Best Programs Are Underway

According to a recent IQVIA survey, almost half of the top 20 large pharma companies have executed Next Best programs at scale. But, progress towards omnichannel orchestration and AI/ML insights is lagging due to the amount of investment and data required. Interestingly, results from a polling question during this webinar showed that most attendees have not implemented Next Best programs at their companies yet but are actively researching it.

4. Disconnect between company investments and impactful activities

When it comes to improving customer engagement, pharma companies are investing heavily in deploying and improving CRM systems. On the other hand, survey respondents believe that companies should prioritize investment in understanding customer preferences, using analytics across channels, and data management.

To dive deeper into these observations and learn more about IQVIA Next Best, sign up here to view the webinar recording.