Why Performance Tracking is Vital to the Pharmaceutical Industry

Bekia Fosam

Video Transcript – Bekia Fosam, Principal

Today's market has become so complicated. They have many influences, be it patients or peers. And doctors are looking for information in multiple ways, that getting your own information top-of-mind to them is becoming a really difficult issue. So you really need to find out whether you're getting through or not. And that is through tracking.

Tracking is not synonymous with primary research only. It has to be integrated, meaning it has to have information on all key players in the marketplace, has to have information from all sources from the marketplace, and from within the companies themselves. It has to be an integrated solution.

And it has to be a deliverable that gives you insights rather than data. It isn't about KPIs. It's about the subtle nuggets about the marketplace that will make you do business differently.

The unique approach that ZS has to tracking is that we make sure that it is comprehensive; that it gives you not only the “what,” it gives you the “why” and “how” to proceed for impact for your business.

And we achieve that in three different ways: One, we make sure that the data is real-time, and it's not just historical. Two, we leverage state-of-the-art analytics to make sure that we're answering the right question in a way that is implementable. Three, all the key tactics that you have in play in the marketplace [are] assessed within this process.

ZS Insights: How did ZS’s approach to tracking help a client change its marketing strategy?

So he had a product just about to come to the marketplace—the marketing strategy was already to go, and the key question was, how is it going to turn out from day one? He engaged with us to establish a tracking process, a tracking platform that was fairly robust and complete in that it incorporated not only primary data real-time, but also secondary data to allow the effective search for insights. In this particular situation, he really got some surprises as we started the program.

The surprise in this particular case was that the key strategy that they had in place and the key value proposition that they wanted to pass across—which was all about convenience—was not resonating with the key decision makers. Indeed, they were looking for something that works. They were looking for something that is efficacious, a medication that is efficacious. And with this signal coming from the marketplace, they tweaked the focus of the strategy, the focus of their message, and that led to increased trial of the product, and a subsequent uptake by the physicians prescribing it.

At ZS, we approach all our marketing with that mindset that has to be implementable, and tracking is no exception. With tracking, for it to work, it has to provide that insight for you. Something that says, “I have been observing this marketplace and this is something different.” Something that says, “I'm able to assess an action plan that I have in place.” Something that says, “This is how I'm going to change the strategy.”

In that case, you have action. It works—marketing that works.