Multichannel Approaches: Let s Go a Step Further! CIB 45+1 Chris Wade Multichannel Strategy Lead Veeva Europe
Making CRM Work For You 2015 Veeva Systems Company Confidential eu.veeva.com 2
Making CRM Work For Your Customers 2015 Veeva Systems Company Confidential eu.veeva.com 3
Veeva Overview Company statistics Founded in 2007 900+ employees 275+ customers; end users in 80+ countries Veeva is headquartered in the San Francisco Bay Area, with offices in Europe, Asia, and Latin America Listed on New York Stock Exchange - VEEV What we do Fastest Growing Company Build innovative, cloud-based products for life sciences Provide implementation services for customer success Enhance customer value through a robust partner ecosystem 2015 Veeva Systems Company Confidential eu.veeva.com 4
Veeva Spans an Entire Life Sciences Company Research & Development Medical Commercial Regulatory Clinical Trials Quality and Medical Field Manufacturing Affairs Medical Marketing Sales CRM CLM Approved Email Engage CoBrowse Submissions Investigator Portal etmf QualityDocs MedComms PromoMats Customer Master KOL Data & Services Customer Data Data Services 2015 Veeva Systems Company Confidential eu.veeva.com 5
Customer Success Through Innovation Agility in a Dynamic Market Competitive advantage through continuous innovation Responsiveness to market needs & regulatory changes Speed to realised benefits Veeva CLM Approved Email Engage CoBrowse Veeva KOL Data & Services Veeva CRM 2011 2012 2013 2014 2015 Vault PromoMats Vault MedComms Vault Submissions Network Customer Master Veeva OpenData Customer Data Data Services Vault QualityDocs Veeva CRM Veeva Vault Veeva Network Veeva OpenData Vault etmf 2015 Veeva Systems Company Confidential eu.veeva.com 6
Multichannel & Pharma 2015 Veeva Systems Company Confidential eu.veeva.com 7
Multichannel Allows Pharma to Offer Customers a 360 View of Themselves Convenient Relevant Engaging 2015 Veeva Systems Company Confidential eu.veeva.com 8
CRM as a Customer Platform Marketing & Sales Management Content & Data Management SFA Surveys Rep Email CLM Channels Web & Portal Call Center Sample Incentive Integrated Management technology Compensation across the organisation Campaign Management Aggregate Spend Web Content Management MLR Customer Data MDM Market/Sales Data Contract Management Online selfdirected Expense Digital Asset Segmentation Social Management Library Adopted as an approach & philosophy Stewardship Services KOL Data Inventory Management CoBrowse Mass Email Targeting Learning Mgmt Systems Content Distribution Formulary Data Order Management Multichannel Alignments Strategic Account Management Events Management Sales & Activity reporting Insight & execution by all Process reporting & KPIs Business Intelligence KOL Management Medical Medical Inquiries Key Account Management Veeva Today Formulary Management Veeva Future Revenue and Contracts Mgmt Partner Price Management Other Commercial Analytics Predictive Analytics Visibility of the Customer Visibility from the Customer Medical Communications 2015 Veeva Systems Company Confidential eu.veeva.com 9
The Value of Multichannel 10%+ Topline Growth Multichannel Delivering Measurable Benefits 10-25% Savings 2014 BCG: Breaking Through The Noise report 2015 Veeva Systems Company Confidential eu.veeva.com 10
Multichannel vs Omnichannel What is the difference? 82% buzzword / hype 17% redefining customer engagement strategy Outside-in rather than inside-out 1% homage to great British TV comedy! 2015 Veeva Systems Company Confidential eu.veeva.com 11
A Long Way To Go To Omnichannel In-Company Channels External Touchpoints 2015 Veeva Systems Company Confidential eu.veeva.com 12
Your View of Customers vs. Their View of You Companies have a clear view of who their customers are and why Pharma has used CRM to organise customers around sales teams Multichannel adds new channels but still companies doing to customers Central to the value that pharma brings to customers is expertise CRM should simplify service delivery, but instead customers are faced with confusion Multiple phone lines, websites, people Effective multichannel needs to enable service excellence 2015 Veeva Systems Company Confidential eu.veeva.com 13
The Connected Customer Effective communications addresses HCPs needs. Amplifying a promotional message across every touchpoint is not the answer. 2015 Veeva Systems Company Confidential eu.veeva.com 14
The Connected Customer I want to be treated like a customer Drug information is recognised as a valuable resource by HCPs, but how it is offered is often not aligned with their needs or preferences. 2015 Veeva Systems Company Confidential eu.veeva.com 15
The Connected Customer 67% Prefer Digital With 2/3 HCPs preferring digital to interact with pharma the challenge is not if or what, but why digital isn t the primary channel for service and information delivery. 2015 Veeva Systems Company Confidential eu.veeva.com 16
The Connected Customer: EU Doctors Favour Promotional Resources That Are Convenient, Personal and Trustworthy Downloadable materials eg. PDF, Face- to- face rep visit Independent website eg. Email from independent website Monograph Product website Slide deck Email from pharmaceuacal / PharmaceuAcal / device Video ALL EU (n=1,848) They Want To Feel Like A Customer, They Want To Be In Control Source: M3 EU5 Doctor Communications Study, August 2014 Q5 How would you prefer to receive promoaonal informaaon from pharmaceuacal and medical device companies? Please select your top 3 preferred op1ons from the list below
The Connected Customer: EU Doctors Have Clear Preferences on How They Want to Receive Drug Information Guideline summaries Drug summary Algorithms Single page detail Clinical paper summaries Case reports Brand Q&A Video content MulAple page detail Discussion with rep ALL EU (n=1,848) Prescribing informaaon Their time is limited and understanding Rx limitations is key Source: M3 EU5 Doctor Communications Study, August 2014 Q7 When searching for/ receiving informaaon about drugs/ treatments/ medical devices, how useful do you find the following?
The Place of Integration: Enhancing Traditional Channels Face-To-Face Call Rep-to-HCP Email Online Portal, Remote Session & Document Viewing 2015 Veeva Systems Company Confidential eu.veeva.com 19
The Place of Integration: Enabling New Customer Processes Dr.com HCP Communities Customer Communications Pharma Insights Content Engagement 2015 Veeva Systems Company Confidential eu.veeva.com 20
Millennium Improves Flexibility and Productivity with Veeva CRM Customer A leading biopharmaceutical company based in Cambridge, Massachusetts Markets VELCADE, a novel cancer product Research, development, and commercialization activities focused in two therapeutic areas: oncology and inflammation Challenge Client/server system not flexible enough to handle company s growing needs Not reliable and took too much time for basic functions Technology managers continually pulled away from strategic initiatives to fix system errors Solution Selected Veeva CRM because: Single, integrated system for managed markets, MSLs, and sales reps Pharma-specific functionality Robust search capabilities SaaS platform automatic upgrades and fast, easy configuration Results Usability: Record call in < 3 clicks, conduct searches in seconds and access data quickly Flexibility: Make changes anytime without affecting other parts of system Productivity: Saved 1+ FTE per group IT staff freed from maintaining servers and other hardware 2015 Veeva Systems Company Confidential eu.veeva.com 21
AstraZeneca MSLs Deliver Greater Customer Value with Veeva CRM Customer Global, innovation-driven biopharmaceutical business global revenues over $32.8 billion Challenge Previous CRM system s functionality shortfalls and growing costs intolerable for Medical Affairs Need for: Richer reporting, planning, and management functionality Ability to easily collaborate with other teams Solution Veeva CRM provided functionality that met the specific needs of Medical Affairs Implementation was on time and under budget, despite an unplanned expansion in scope Results Estimated 29% ROI, 30% annual savings, 89% improvement in reporting efficiency MSLs more organized with daily planning align individual customer objectives to strategic objectives Managers have immediate dashboard access to performance data 2015 Veeva Systems Company Confidential eu.veeva.com 22
How Ready Are You? Continuous Improvement Benchmark Handover & Phase-out Vision 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Buy-in & Impact Assessment Framework Strategic Plan Process & Governance Build Capability Talent & Skills Change Management Road Map Source: DT Associates - The State of Digital Excellence In The Global Pharmaceutical Industry, February 2014. Base: 32 Digital Leaders 2015 Veeva Systems Company Confidential eu.veeva.com 23
Thank You Chris Wade chris.wade@veeva.com +44 7823 530 104