Shifts in Buying Power Driving Search for New Efficiencies Using Technology
Guest Post by Hayley Bohan, elandas Chief Marketing Officer
elandas, my employer, and the company that streamlines and accelerates the flow of actionable business data for sales and marketing teams in life sciences recently announced the findings of its second elandas Coffee Break Survey. Compared with what we saw with the first survey conducted just 18 months prior, the results were somewhat startling, and yet also not surprising against a regulatory and insurance landscape that has undergone enormous shifts at the same time healthcare provider consolidations have reached historic levels in the United States.
The survey was conducted with 150 life sciences sales professionals and marketers in the first quarter of 2016. Comparisons with answers given by industry insiders in the first elandas Coffee Break Survey indicate that pharmaceutical, medical device, and biotech marketers and sales professionals have exploding interest in improving processes and bridging functional silos- a role that highly configurable sales enablement technologies can surely address.
As elandas’ CEO and founder Ryan Roberts mused upon looking at the results “Their responses communicate a strong desire to find innovations that offer competitive advantages in a sector where influence over prescribing decisions is shifting. As a result, data integration and highly configurable process automation solutions are becoming more important than ever.”
Results from the most recent survey shows that Sales & Marketing professionals across the industry now believe that payers have the most influence on prescribing decisions, whereas just 18 months ago a majority of marketers taking the survey responded that they believed prescribers were the most influential.
Integrated Delivery Networks (IDNs) are mentioned close behind payers as the second most influential group. These perceived gains appear to come at the expense of prescribers whom are seen as having less influence than they did a year and a half before.
Respondents to the latest survey say patients have lost influence as well. In the third quarter of 2014, 25% of marketers felt that patients had the most influence on prescribing decisions, while in the first quarter of 2016 that number drops to 11%.
With so much change in the industry, streamlined processes are now being cited as the best way to help life sciences sales and marketing professionals move faster going from 24% in the first survey to 36% this year.
Better collaboration across organizational silos is also consistently hit upon in the research as a big opportunity area in which to gain efficiencies and speed. Nearly half (45%) of respondents said they would be interested in finding out more about new ways to gain traction here.
We also found it interesting that nearly a quarter (23.5%) of sales respondents told us they would be able to get key messages out quicker and possibly improve market share if they had access to better data integration tools, and had more streamlined processes in place.
Certainly the industry is continuing to undergo significant changes, and the ways that sales pros and marketers need to be able to get the right information in the right hands at the right time to ultimately create the best patient outcomes have to keep pace. As a result, leading edge sales enablement technologies that can bridge the gaps is in increasingly greater demand than ever before.
About Author Hayley Bohan, elandas Chief Marketing Officer
Hayley Bohan is a marketing thought leader and CMO at elandas a fast growing technology innovator specializing in highly configurable data management and marketing on demand solutions for the Life Sciences industry. elandas provides users with layered data views and executive dashboards that enable key stakeholders to react in near real time to today’s evolving regulatory and insurance landscapes. The elandas platform also makes it simple for Marketing and Sales teams to quickly create customized and compliant marketing materials. For more information, visit http://www.elandas.com