Due to recent regulatory changes and a shift towards value-based care, the life sciences industry has permanently moved in a direction where speaking to clinical value is mission-critical. Indeed, nearly 50% of pharma product launches fail to meet expectations or underperform. We spoke to over 900 life sciences companies to understand what makes some companies succeed, and discovered that there are four key fundamentals to a successful product launch.
1. Effectively communicate your clinical evidence story – Your products are challenging and complex, and the healthcare practitioners you are selling to are extremely sophisticated with years of experience in the field. The starting point to a successful product launch is training your reps to communicate your clinical evidence story effectively. Micro-learning tools leverage neuroscience and adult learning principles to break down dense clinical information into more manageable, bite-sized pieces. Curating multimedia sources can help to keep reps interested and engaged with their training content.
2. Communicate this story to customers in a consistent and responsible manner – You not only need to communicate your clinical evidence story effectively, but you also make sure that the reps can confidently speak to that story in a consistent and responsible manner. To achieve this, your reps need to be able to quickly reference key clinical information or messaging for pre-call prep or during meetings with healthcare practitioners (HCPs). Sales enablement tools can help to keep all your training content and marketing collateral in one place so that reps can easily access them.
3. Keep field teams motivated and engaged – Once you have trained your reps on your clinical evidence story and the latest sales strategies, how do you ensure that those translate to while they are in the field? After that initial in-person training, reps are often alone in the field for long periods it can be challenging to drive pull through and keep them engaged. Video coaching tools has opened up opportunities for remote coaching. Further, tracking the rep’s learning and competency data is critical to have objective points for coaching conversations.
4. Collect really good data from the field to refine the story – Perhaps what is most critical is that at every stage of articulating the entire clinical evidence story, organizations need to be able to collect field data to refine this story. Reps’ interactions with training, sales enablement, and coaching tools are insightful but often overlooked sources of internal data that can transform your sales force into a business intelligence force.
These four fundamentals are best applied as a loop; where the message journey starts with training on the clinical evidence story, then applying the messaging strategies and tactics in the field, followed by collecting field data on the message is resonating (and where the objections are coming up), and finally refining the message to start another round. Similar to a loop, it is beneficial to see each stage of the rep’s journey – training, sales enablement, coaching – not as separate stages but as a continuous process of gathering field intelligence. Indeed, each piece of data on its own loses its value, but you can augment the value of the data collected at each stage by consolidating it all on one platform to generate powerful insights.