Measuring the Value of KOL Interactions
Life science industry marketing executives rely on key opinion leaders (KOLs)—physicians and other stakeholders who have earned credibility with their medical colleagues based on their expertise and scientific stature—to diffuse innovation and disseminate scientific information regarding innovative treatments and new products. Thought leaders are a critical component of a pharmaceutical company’s professional marketing and medical strategies. But companies face a real challenge in creating, maintaining, and leveraging those relationships while safely navigating logistical issues and regulatory waters.
One enduring problem is in finding an appropriate way to measure the impact of interactions between medical science liaisons (MSLs) and KOLs. In part, this is a matter of regulation: Because MSLs can’t be treated as sales reps, it is dangerous to try to assess them the way you’d assess a sales rep—by number of prescriptions written as a result of their actions. But even without regulation, that sort of metric would seriously misrepresent the nature of the relationship between MSLs and KOLs—a relationship that is based on science, mutual collaboration, and engagement, and tends to evolve over longer periods of time than interactions with traditional reps. The thought leader interaction is a process; as such, it may not yield the same kind of immediate, measureable results seen on the commercial side of the company.
Until recently, most companies simply haven’t known what metrics to turn to in measuring key opinion leaders. Today, however, innovative pharmaceutical companies are beginning to adopt practices that allow them to compliantly measure outcomes and become more transparent. This allows them to comply with the recent industry emphasis on cost management, marketing, and medical excellence. These practices often include tools that allow goal-oriented information to be captured and measured. These tools provide corporate visibility to key metrics used to measure the value of KOL interactions.
KOL Measurement Metrics
Engagement of the KOL both with the company and with the MSL
Outcomes The fact that you will not be tracking new prescriptions written as a result of KOL interactions doesn’t mean that there are no legitimate outcomes to measure. The goals and plans your KOLs agree to provide an excellent way to assess commitment, engagement, and follow-through.
Becoming a “Value-Added” Resource Don’t just measure what the KOL was able to do for you. Keep track of how many times a KOL reaches out to the MSL as a problem-solving partner. That’s a measure not just of how well you’re reaching out to KOLs, but how much they’re coming to rely on you as a partner of choice.
Field medical organizations managing thought leader relationships should be committed to making adjustments to their plans. Their relationship decisions must be based on measurable outcomes that are an integral component of success and the fundamental difference between performance measurement and management. Measurable relationships with thought leaders can indeed be a compliant reality and a valuable asset for the company and brand.
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