A Guide to Omnichannel Transformation in the Pharma Industry

Omnichannel transformation is a way of doing business that integrates various processes and technologies around a customer-centric operating paradigm. It enables businesses to handle growing complexity, deliver better customer service, and control operating expenses.

Multichannel and omnichannel are distinct concepts. Multichannel refers to a business that uses multiple channels to reach its customers. Omnichannel takes this a step further by creating a seamless customer experience across all channels. In an omnichannel environment, the content on each channel is related to the content on other channels.

This means that customers can start a conversation with a business on one channel and pick it up on another channel without having to repeat themselves.

Omnichannel transformation is a complex undertaking, but it can be a valuable investment for businesses that want to improve their customer experience.

According to a research by ZS, up to 90% of sales executives said omnichannel transformation is critical, but only 10% said their company has achieved the full potential of its objectives

How Pharma Companies Can Go Omnichannel

One of the industries lagging in this aspect is the pharmaceutical industry. Since face-to-face interactions are advantageous for service delivery, the pharmaceutical business has been slow in adopting omnichannel engagement.

However, the pandemic provided a chance to elevate omnichannel marketing initiatives to the top of business agendas across the globe.

A Four-Step Approach To Being Omnichannel

Companies should have an overall plan in place and follow a sequential approach, which consists of four crucial components, to build an omnichannel experience

1. Establish the design guidelines in accordance with a comprehensive omnichannel approach.
2. Plan service journeys, making sure the entire digital and live contact journey responds to customer requirements.
3. Determine the fundamental enablers that will support the journeys.
4. Use technology to define the IT architecture.

Pharmaceutical businesses must overcome several obstacles on their path to omnichannel transformation, including: culture change, e-permissions, data management, the use of appropriate technology, and its integration.

Pharma companies must have an e-permission in place to send bulk emails. For the cultural shift to happen, organizational change should come from the upper management. This change should percolate down through the organization, from global top management all the way down to country managers, business unit leads, commercial leads, and marketing leads. The pharmaceutical business is also quite concerned about compliance and regulatory difficulties, particularly when it comes to digital platforms. Companies must make sure they abide by all rules pertaining to data protection, marketing, sales tactics, etc.

Nowadays, pharmaceutical companies are using advanced analytics to analyze the historical interaction data of healthcare professionals across channels, such as in-person visits, emails, messages, websites, remote details, and webinars.

According to ABI research, pharmaceutical manufacturers will need to spend $1.2 billion in the next six years on data analytics alone.

Omnichannel efforts can be managed in-house, outsourced, or through a hybrid approach. Usually, pharmaceutical companies are adopting a hybrid approach, where the strategy and other core functions are managed in-house, while customer support, technology requirements, etc. are outsourced.

A step-by-step omnichannel transformation is typically a two-to-three-year effort and the time depends on various factors.

However, the problem with multichannel approaches is that they often fail to keep up with technological advancements, new channels of communication, and the ever-accelerating pace of the physician's path to purchase.

Thus, the goal of companies should be to use multiple channels (multichannel) in such a way that there is a seamless experience across the most appropriate channels for customers (omnichannel).

Author: Vaishnavi Borgaonkar

Sources and references:

https://www.anthillagency.com/omnichannel-pharma-guide

https://medicaldigitals.com/omnichannel-engagement-pharma/

https://www.anthillagency.com/cases/omnichannel-hcp-engagement

https://www.helpware.com/blog/outsourcing-companies-lead-way-omnichannel-customer-support

https://millennialservices.com/5-benefits-of-outsourcing-agents-to-run-omnichannel-platforms/

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