Pharma Customer Segmentation Helped a Client Improve Customer Satisfaction by 10% 

Written By: Sudeshna Ghosh

Introduction to Pharma Customer Segmentation

The pharmaceutical industry is characterized by constant change today. Because consumers are aware of the dynamics of the market and want the best product at the best price, it is in a state of flux. Their learning and decision-making skills have improved due to digital communication channels. The growing need for quality healthcare has presented several challenges for the business economics of the pharmaceutical industry. As a result, businesses are having a lot of trouble marketing their products and developing effective strategies. This is the point at which pharma customer segmentation becomes relevant. Quantzig, a leader in analytics solutions, offers transformative customer segmentation expertise to optimize marketing mix, sales force resources, and overall returns on investment for pharmaceutical industry clients.

Quantzig’s Expertise in Pharma Customer Segmentation Analytics for a Global Pharmaceutical Company

Client Details	A global pharmaceutical company well-known for offering a portfolio of pharmaceutical services for its huge clientele all over the globe.
Challenges Faced by The Client	The client wanted to identify the most receptive and valuable customers in the pharma market. A successful call strategy was required for the client’s upcoming launch of new medicine.
Solutions Offered by Quantzig	Quantzig’s call planning solution enabled the client in the pharmaceutical business to obtain a best-in-class procedure for routine and speedy plan refresh and rollout for a sales team of 500+ reps, which helped it lower the time to market, increase sales force utilization, and improve call adherence.
Impact Delivered	Assessed customer needs and preferences and effectively allocated resources to maximize growth, ROI, and develop a competitive advantage.

Client Details

Our recent client was a global pharmaceutical company well-known for offering a portfolio of pharmaceutical services for its huge clientele all over the globe.

Challenges Faced by the Client 

With the shift toward a customer-centric environment, manufacturers are leveraging effective customer segmentation solutions services to better understand their customers, buying preferences, and value perceptions. Like all other manufacturers in the pharma landscape, a leading pharmaceutical industry player wanted to identify the most receptive and valuable customers in the pharma market. Assessing the most valuable customers will help the client to develop a competitive advantage over their competitors. Furthermore, the leading market client also wanted to tailor effective marketing strategies and tactics to meet the needs of the customers. 

The client sought to manage the launch of a new medicine by designing effective targeting and call planning. A successful call strategy was required for the pharmaceutical industry client’s upcoming launch of new medicine. Though the client had retail teams scattered throughout several therapeutic categories, including respiratory, diabetes, cardiovascular, oncology, and neuroscience, it also wanted to remain competitive and lean on the pharmaceutical sector.   

Phamra Customer Segmentation Analysis Solution Offered by Quantzig

Quantzig’s call planning solution enabled the client in the pharmaceutical business to obtain a best-in-class procedure for routine and speedy plan refresh and rollout for a sales team of 500+ reps, which helped it lower the time to market, increase sales force utilization, enhance customer lifetime value, and improve call adherence. The data from field intelligence, in turn, helped the sales crew. The statistical tools also assisted the company in enhancing the effectiveness of sales calls. The solution enabled the client to manage the call planning process effectively.  

• The solution analyzed the brand’s purpose and finalized the best call planning strategy.  
• It developed a call planning engine to ensure that the plan fits the business objectives.  
• It developed diagnostics of a call planning scenario and compared them.  
• The solution enabled configured analytics for call planning feedback, the creation of final plan files for use by downstream applications, and the retrieval of post-call plan feedback diagnostics. 

Impact Analysis of Quantzig’s Pharma Customer Segmentation Analytics 

• Effective Customer-Focused Marketing:
  • Easy access to segregated data facilitated the pharmaceutical client in devising an impactful marketing strategy.
  • Tailoring strategies based on customer needs and preferences enabled successful penetration into diverse markets.
• Resource Allocation for Growth:
  • The client efficiently allocated resources, maximizing growth and ensuring a better return on investment.
  • Strategic resource allocation contributed to the development of a competitive advantage in the pharmaceutical industry.
• Insights from Real-Time Events:
  • Gain of insights linked to specific and real-time events, enhancing the relevance of the client’s core brands across Mexico.
  • Retrospective social media assessment deepened understanding of online discussions related to target brands and disease categories.
• Call Planning Excellence:
  • Quantzig’s call planning solution facilitated a best-in-class procedure for routine and rapid plan refresh and rollout.
  • Implemented for a sales team of 500+ reps, the solution lowered time to market, increased sales force utilization, and improved call adherence.
• Utilizing Field Intelligence Data:
  • Data from field intelligence supported the sales crew in making informed decisions and enhancing effectiveness in sales calls.
  • Statistical tools aided in optimizing sales calls without incurring additional costs, akin to expanding the sales staff efficiently.

In summary, the pharmaceutical industry client benefited from streamlined processes, leveraging insights from data, and implementing efficient call plans. The success story highlights the importance of precision and efficiency in call planning, contributing to market growth, improved sales force performance, enhanced customer engagement, and a competitive edge in the pharmaceutical sector.

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Pharma Market Segmentation – An Overview

Pharmaceutical companies can view their brand from the perspective of the customers who fall into the various market segments by using the market segmentation process. For pharmaceutical companies, it is a crucial element of success. Market segmentation is the process of dividing up target consumers into different groups based on each group’s distinctive qualities. Through this process, pharmaceutical brands can better understand the needs of their customers. Customers are divided into groups according to requirements, interests, and locations in these segments. Individuals sharing comparable characteristics are grouped together into what the pharmaceutical industry refers to as segments. 

Also read: Amplifying AI in Life Sciences Reach Across the Life Sciences Value Chain

Making the most of this process makes it simple to develop a marketing plan or campaign that works for each target market. Additionally, it helps businesses to responsibly manage their marketing and advertising budgets. They can also enhance their offerings to guarantee the utmost contentment of a specific market segment while fulfilling their requirements. 

Types of Pharma Customer Segmentation 

1. Psychographic segmentation

Customers whose needs are primarily determined by their interests, activities, lifestyles, and opinions fall under this segmentation category. Similar to behavioristic segmentation is the psychographic market segment. The only distinction is that the psychological factors of the customer, like their purchasing patterns, are taken into consideration.  

2. Demographic Segmentation

Businesses use demographic segmentation, a dynamic market segment, to reach their target audience. The pharmaceutical industry is segmented based on demographic factors, including race, nationality, gender, age, occupation, size of family, and religion. This market segmentation, which is straightforward but crucial, makes information easily available through the existing client-business relationships.  

3. Behavioristic Segmentation  

The variations in consumption patterns among a collection of markets are defined by this market segmentation. Consumers are categorized based on how they behave with the brand, taking into consideration fundamental factors like shopping habits, brand awareness, purchase trends, product knowledge, usage intensity, and product/service ratings. 

Benefits of Pharmaceutical Market Segmentation 

In the face of rising costs and demands for affordable healthcare and drug development, a market segmentation strategy can help your pharmaceutical organization focus more effectively, reduce waste, free up resources, and possibly even open new opportunities. Competitive organizations that can concentrate will succeed in the current environment, as demonstrated by the numerous examples over the years where external environments have changed because of unforeseen events.  

Enhancing the effectiveness of communications and interactions in this way with healthcare professionals and patients will fulfill marketing goals and aid in the advancement of improved health results. Comprehensive customer data and information, including their personalities, emotions, values, interests, beliefs, and attitudes, can enhance every part of the business. Similarly, messages that are tailored to the attitudes and motives of the target audience are more likely to encourage desired behaviors and improve the rapport between the client and the business. 

How to Target Individuals and Organizations Based on Their Requirements  

From a business-to-business standpoint, consider the industries that could benefit from your offerings. Components, inhalation, packaging… Consider the cost of your goods and your clientele. Are you trying to attract budget-conscious clients? Consider the various stages of development that an organization may be interested in collaborating with you on as well. Preclinical, phase 1 discovery What is the ideal price point for the goods or services you currently offer? Is there space to expand? Although generic segments are a great starting point for segmentation, B2B pharmaceuticals need additional targeting because of the size of the market.  

From a business-to-consumer standpoint, determine which product portfolio would help your clients reach their goal, and then reduce the number to only those that they can or should develop. You will probably have to rethink your internal procedures to align with the new emphasis on targeted marketing, such as moving from a product-oriented organization to one that is market-oriented. In the pharmaceutical supply chain, we have seen established companies lose market share to newcomers due to a lack of strategic focus, which prevented them from standing out from the competition and reacting competitively to pricing. 

Strategic Approaches to Segmentation in Pharma Industry  

Strategic approaches to segmentation in the pharma industry involve utilizing various types of market segmentation to effectively reach and engage the target audience. In pharmaceutical market segmentation, companies use demographic segmentation (age, gender, income), geographic segmentation (location, region), psychographic segmentation (lifestyle, values), and behavioral segmentation (usage rates, benefits sought). These strategies help in understanding potential customers and creating detailed buyer personas.   

Leveraging digital communication channels is crucial for engaging online-driven segments. By tailoring pharma marketing efforts to specific segments, companies can design more effective marketing campaigns that resonate with their audience, thereby enhancing ROI. Behavioristic segmentation focuses on consumer behavior and decision-making processes, which is vital for personalized marketing. Through comprehensive segmentation strategies, pharmaceutical companies can better meet customer needs, stay competitive, and maximize their impact in the market. 

Conclusion

In summary, the pharmaceutical industry’s dynamism and the changing landscape necessitate proactive strategies, with customer segmentation playing a pivotal role. Quantzig’s solutions address the evolving challenges, optimizing resource allocation and enhancing the value-based approach for sustained success in the pharmaceutical market. The future of pharmaceutical products is intricately tied to innovation, effective healthcare funding management, data management, and strategies to address changing demographics and lifestyles.

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