First Ever Indian Pharma Centric Survey: A CredoWeb India – #MedicinMan Research Project
As a part of Digital Excellence Pharma Academy , we initiated a research project with a detailed survey to understand the current status and issues faced by Indian Pharma companies in adopting digital to bridge the pharma – physicians disconnect.
You can know more about the scope and scale of this research project and survey at https://lnkd.in/gR5JMer
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What is Indian Pharma Thinking about Digital? A Research Project
1. “It is not the strongest of the
species that survives, nor the most
intelligent that survives. It is the one
that is the most adaptable to
change.” – Charles Darwin
.
3. I am Deep Bhandari
I am here because I passionate about
developing sales leaders
You can find me at
deep0401@gmail.com
linkedin.com/in/deep04
Twitter. Deep0
3
HELLO!
You Can Watch the Recorded Webinar by Registering on www.credoweb.in
8. 44%
17%
20%
19%
Size of Sales Force
>1000 Reps
500 to 1000 Reps
100 to 500 Reps
<100 Reps
35%
34%
31%
Indian / MNCs
Indian Companies Indian MNCs MNCs
Healthy Mix of Companies by Their Sales Force
Size / Indian / MNCs / TAs
9. >1000
51%
500 to 1000
14%
100 to 500
14%
<100
21%
Companies by Revenue
>1000
500 to 1000
100 to 500
<100
17%
55%
20%
8%
Covid-19 Impact on Revenue
>50%
Between 10 to 50%
< 10 %
Increase over 10%
In the last 6 months, to what extent was your company’s revenue impacted by
Covid-(due to lockdowns, clinics not operating, reps having limited access
etc.)
10. What is the Focus of Your Digital Efforts?
01
02
03
Improving HCPs
Engagement
Improving
HCPs
engagement
Improving
Commercial
team
engagementBuild
commercial
teams'
capabilities
Improving
Commercial Team
Engagement
Build commercial
Teams’ Capabilities
11. Improving HCPs Engagement
01
02
03
Digitizing processes with a view to
improving connectivity and
strengthening relationships,
primarily with HCPs but also with
patients and internal teams. 86%
(205) of Pharma professional
responded the key focus of
digitalization is to improve
engagement with HCPs.
This is a
sample
text.Insert your
desired text
here.
Improving
HCPs
engagement
12. Improving Commercial team engagement and
Efficiency
01
02
03
Insert your
desired text
here.
Improving
Commercial
team
engagement
Insert your
desired text
here.
Reengineering current processes and leveraging
technology to drive Rep’s engagement and align
commercial team’s processes e.g. Cycle
Meetings, Performance Reviews, Hiring
Processes, and even New launches. 53% (127
respondents) For example, deploying digital
technologies to collate all the information
required for HCPs engagement and harnessing
structured and unstructured internal and
external data to empower strategic insights,
increase visibility into HCPs behaviour to support
more rapid and robust commercial decisions.
13. Build commercial teams' capabilities through
learning and development
01
02
03
Insert your
desired text
here.
This is a
sample
text.Build commercial
teams' capabilities
To meet current and future challenge, 44% (99
respondents) business leaders say their
companies should craft a talent strategy that
develops their commercial team’s critical digital
and cognitive capabilities, their social
and emotional skills, and their adaptability and
resilience. Now is the time for their companies to
double down on their learning budgets and
commit to reskilling. Developing this muscle will
also strengthen companies for future disruptions.
14. Channels are being used to engage doctors during this period
88% (203) of Respondent find this
Not effective average rating 2.4 / 5.0
Call, What’s App, Call Center, Remote
Call
Webinars
Face to Face Call by
Reps
E-Mails Generated by RepsRemote Conferences / CMEs
Remote Detailing
Platform
RTM / Small Group Meeting
74% (171) of Respondent find this
Somewhat effective average rating 2.9 /
5.0
64% (147) of Respondent find this
very effective average rating 3.5 / 5.0
45% (105) of Respondent find this
least effective average rating 2.1 / 5.0
45% (103) of Respondent find this
somewhat effective average rating 2.9/ 5.0
34% (82) of Respondent find this
somewhat effective average rating 2.4/
5.0
14% (32) of Respondent find this
effective average rating 3.1/ 5.0
17. A Roadmap To Digital Adoption
Develop
Digital Capabilities
Align With
Business
Strategy
Understand
Digital
Build
Business CaseInvest in Building Digital
Capabilities
Reimagine Possibilities
Sow the Seeds of Digital
Culture
Understand Changing HCPs
Need and Preferences
18. Understand Possibilities Offered by Digital Future
Understand Digital
Reimagine
Possibilities
Reimagining possibilities and future
Business Model transformation due to
digital initiatives, a well thought strategy
touching all aspects of business processes
and practices, e.g. HCPs engagement,
Team’s engagement, HR Processes (Hiring,
on-boarding and PMS etc.), Training and
Development (Learning Management
System), Sales Enablement, Marketing
Automation and Business Analytics and
Insights. Pharma leaders need to
constantly demonstrate and reinforce their
personal commitment to digital
transformation.
19. Pharma Leaders Need to Drive & Embrace the Culture
Change
Align & Integrate into
Business Strategy
Leadership need to drive and embrace
the cultural change that ‘Digital
Transformation’ brings. Understanding
continuously changing HCPs need and
expectations from Pharma companies,
their preferences and preferred channels
for engagement. How AI and Machine
Learning can provide help in decoding
their buying behaviors and insights into
business intelligence.
20. Understand & Scope Digital Transformation
Build a Solid
Business Case
Once Pharma leaders understand and
scope of digital transformation and
benefits of digitization, they then need
to clearly define and communicate the
benefits deriving from that across the
entire organization. Announcing very
publicly that they ’re spending massive
resources to transform business
practices embedding Digital
Transformation. This will go a long way
to not only promote buy-in to the overall
program but also sow the seeds of a
digital culture.
21. Building Strong Digital Capabilities and Talent Pool
Build Strong
Capabilities
To increase the likelihood of success of
digitization efforts leaders rapidly need
to assess and identify the competencies
needed for Digital Transformation.
What can be leverage from external
expertise and what they need to do to
develop in-house capabilities. To reap
the full benefits of Digital
Transformation organisation need to
invest in improving their capabilities in
data integrity, standardization,
timeliness and accessibility.
22. 22
Put another way…If we need to take on “fiery hoops” we really can’t do it with Bobs, or if we have a
bunch of Bobs we better find another line of work!
24. What
got you
here…
There may be a greater need to re-purposing some roles
especially the Customer Facing Role, Marketing Roles and
Business Analytics. Accordingly Pharma Leaders may consider
realigning reporting structure to completely support digital
efforts; the right model will need to be aligned with their
organisation’s unique cultural context.
26. I will be happy if you can participate in
the research project
You can find me at
deep0401@gmail.com
linkedin.com/in/deep04
Twitter. Deep0
26HELLO! Again …
You Can Watch the Q & A Session by Registering on www.credoweb.in