Just how well do you know your customers?
Perhaps most pharmaceutical companies would probably argue that they know their customers very well. But are there opportunities to understand them even better…?
The Context
This was the challenge put to J+D by a leading pharma company. Their product, a prominent oncology treatment, was being prescribed by a niche group of customers and the challenge was to understand how communications could be tailored to expand usage, whilst also identifying messages that had the potential to grow usage outside this niche.
Utilising a recently created customer segmentation, the objective was to develop a strategic planning tool that supported accounts / customers to be mapped to the segmentation, and to create a link between marketing initiatives and account potential by each segment.
Here at J+D we thrive on the opportunity to create innovative and client friendly business solutions.
The Approach
With the above in mind, an account based (bottom up) forecast model was developed. This profiled each customer account based on characteristics and current sales value. The TMAP™ planning tool not only calculated the potential sales value for each account but also provided robust insight into both promotional activity and key messages that would most likely resonate with each target account.
The Outcome
- Profiled each account
- Quantified the current vs potential opportunity of each account
- Modelled the likely impact of different communication channels
The quantification section gave a clear breakdown of each account and the size of opportunity alongside each.
And finally, the planning and execution section provided the insight to understand what activity has taken place in each account and what changes are most likely to yield success.
The TMAP™ model has been successfully embedded as a standard part of the account planning process – mostly by marketing to facilitate and strengthen conversations with sales teams and to help breakdown the operational sales forecast to support understanding of how targets will be achieved.
Do you know your customers? We have no doubt that you do, so consider if you could be making better use of internal data/knowledge to tailor your activity within each account.
Kris Barker, Senior Implementation Director
