RESEARCH TRIANGLE PARK, N.C. -- (BUSINESS WIRE) -- 75% of recently surveyed biopharmaceutical companies manage and coordinate thought leader activities through databases. But most of those firms rely on custom CRM systems, according to Cutting Edge Information.
The research conducted for “Pharmaceutical Key Opinion Leader Management: Effective Strategies for Segmenting Thought Leaders” concluded that the database technologies employed vary by company. Some companies leverage custom-built customer relationship management platforms that allow searches for key opinion leaders (KOLs) based on name, therapeutic area or any number of other relevant criteria. These systems represent a significant advance over simple Excel spreadsheets that track companies’ key opinion leader contact information and previous engagements.
Based on each platform’s complexity, CRM system investments vary significantly. Among available database types, initiating a proprietary CRM database proves the costliest investment for companies surveyed. Although expensive, custom databases are preferred by most companies surveyed (69%) because of their level of sophistication. Customized CRMs help companies communicate across their dedicated teams and provide in-depth search capabilities — preventing medical, commercial and clinical teams from needlessly sifting through data.
Proprietary CRMs also support capabilities beyond those offered by off-the-shelf equivalents or Excel spreadsheets. By integrating its KOL database into its aggregate spend database, one profiled company in the study ensures that it remains up-to-date as KOLs approach either institution- or company-mandated payment caps. Proprietary CRMs also expedite companies’ activities by segmenting data, allowing teams to search for stored KOL information quickly and efficiently. This company uses its database to group its KOL activities by disease state. Another interviewed executive’s database is particularly robust, allowing users to search by a number of KOL specifications including name, facility, tier and therapeutic area.
“Pharmaceutical Key Opinion Leader Management: Effective Strategies for Segmenting Thought Leaders” (http://www.cuttingedgeinfo.com/research/medical-affairs/key-opinion-leaders/) examines team structures and staffing, as well as thought leader management database usage and expenses. It also compares typical Tier 1, 2 and 3 thought leader profiles for a wide range of therapeutic areas. Use this report to:
For more information about KOL strategy, contact Cassie Demeter at 919-403-6583.