Robert Shewbrooks, TGaS Advisors
Against a backdrop of global financial instability, pharma companies must radically transform their business models to confront unprecedented challenges. The answer is not to save money in any way possible, but to adopt a well-balanced approach that integrates strategic objectives with cost-saving considerations.
Internal commercial operations executives, with their reservoir of experience in resolving cost/performance issues, can help in this regard. Comm op can offer valuable strengths for difficult times—analytic, systematic, managerial, and strategic—and provide an untapped resource for senior management.
An outside-in perspective can be supplied by consultancies. They can counteract entrenched in-house thinking and open windows onto how other pharmaceutical companies do it.
Companies that are willing to keep an open mind, embrace outside-the-box ideas, and incorporate analytics as key to assessing strategies will outperform less innovative peers. Here are some approaches to consider:
Marketing and sales 3.0
It is imperative that pharma marketers be able to demonstrate results. Are tactics having the desired impact on marketing channel strategies? Can we justify their continuation? Internet metrics, however, are still in the Wild West phase. Data tell us that cyber-measurement at the brand level is elusive. Currently, we are working collaboratively with a number of brands to develop industry standards—an example of the “outside-in” perspective that consultants who work with many brands can provide.
The need for enhanced efficiency and productivity further strengthens the role of analytics. Some companies are considering integrating analytics into one Center of Excellence to create a more thorough and consistent view on the impact of sales and marketing efforts on product performance.
Given today’s unpredictable environment, all ideas must be explored. Peer collaboration is one of the best ways to help a company change course.
Robert Shewbrooks is Vice President, Management Advisor at TGaS Advisors. He can be reached at email@example.com.
Supply Chain Strategy: Managing risk and opportunity in a changing global landscape